Ad Optimum: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Ad Optimum
Largest movements
- Current investments +€101,388
up €101,388 (+206.8%), from €49,024 to €150,413
- Cash -€74,124
down €74,124 (-30.1%), from €245,866 to €171,742
mainly Current investments (-€101,388) and Other debts (-€44,871)
- Receivables within one year +€20,099
up €20,099 (+32.8%), from €61,281 to €81,380
of which Other amounts receivable: +€16,346
- Tangible fixed assets -€4,967
down €4,967 (-52.2%), from €9,518 to €4,551
of which Furniture and vehicles: -€4,262
- Reserves +€90,874
up €90,874 (+34.1%), from €266,266 to €357,140
- Other debts -€44,871
down €44,871 (-69.0%), from €65,000 to €20,129
- Current portion of long-term debt -€7,659
down €7,659 (-100.0%), from €7,659 to €0
- Depreciation -€11,811
down €11,811 (-55.7%), from €21,216 to €9,405
- Taxes +€10,755
up €10,755 (+30.1%), from €35,740 to €46,495
- Financial income +€6,093
up €6,093 (+157.8%), from €3,861 to €9,954
- Gross operating margin -€1,701
down €1,701 (-1.1%), from €159,935 to €158,234
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €367,816 | €410,246 | +€42,430 | +11.5% |
| Fixed assets | 21/28 | €9,518 | €4,551 | -€4,967 | -52.2% |
| Tangible fixed assets | 22/27 | €9,518 | €4,551 | -€4,967 | -52.2% |
| Land and buildings | 22 | €202 | €18 | -€185 | -91.2% |
| Plant, machinery and equipment | 23 | €520 | - | -€520 | |
| Furniture and vehicles | 24 | €8,796 | €4,534 | -€4,262 | -48.5% |
| Current assets | 29/58 | €358,298 | €405,695 | +€47,397 | +13.2% |
| Amounts receivable within one year | 40/41 | €61,281 | €81,380 | +€20,099 | +32.8% |
| Trade receivables | 40 | €23,095 | €26,848 | +€3,753 | +16.2% |
| Other amounts receivable | 41 | €38,186 | €54,532 | +€16,346 | +42.8% |
| Current investments | 50/53 | €49,024 | €150,413 | +€101,388 | +206.8% |
| Cash at bank and in hand | 54/58 | €245,866 | €171,742 | -€74,124 | -30.1% |
| Deferred charges and accrued income | 490/1 | €2,127 | €2,160 | +€34 | +1.6% |
| Total equity and liabilities | 10/49 | €367,816 | €410,246 | +€42,430 | +11.5% |
| Equity | 10/15 | €279,240 | €370,114 | +€90,874 | +32.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €266,266 | €357,140 | +€90,874 | +34.1% |
| Distributable reserves | 133 | €266,266 | €357,140 | +€90,874 | +34.1% |
| Profit (loss) carried forward | 14 | €574 | €574 | = | 0.0% |
| Amounts payable | 17/49 | €88,576 | €40,132 | -€48,444 | -54.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €88,576 | €40,132 | -€48,444 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €7,659 | €0 | -€7,659 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,361 | €2,276 | +€915 | +67.3% |
| Suppliers | 440/4 | €1,361 | €2,276 | +€915 | +67.3% |
| Taxes, remuneration and social security | 45 | €14,556 | €17,726 | +€3,170 | +21.8% |
| Taxes | 450/3 | €14,556 | €17,726 | +€3,170 | +21.8% |
| Other amounts payable | 47/48 | €65,000 | €20,129 | -€44,871 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,216 | €9,405 | -€11,811 | -55.7% |
| Other operating charges | 640/8 | €562 | €452 | -€110 | -19.5% |
| Gross operating margin | 9900 | €159,935 | €158,234 | -€1,701 | -1.1% |
| Operating profit (loss) | 9901 | €138,157 | €148,377 | +€10,220 | +7.4% |
| Financial income | 75/76B | €3,861 | €9,954 | +€6,093 | +157.8% |
| Recurring financial income | 75 | €3,861 | €9,954 | +€6,093 | +157.8% |
| Financial charges | 65/66B | €888 | €833 | -€55 | -6.2% |
| Recurring financial charges | 65 | €888 | €833 | -€55 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €141,131 | €157,499 | +€16,368 | +11.6% |
| Income taxes | 67/77 | €35,740 | €46,495 | +€10,755 | +30.1% |
| Profit (loss) for the period | 9904 | €105,391 | €111,003 | +€5,613 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €105,391 | €111,003 | +€5,613 | +5.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.