AD REALTY: what changed
Two financial 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 REALTY
Largest movements
- Receivables within one year -€10,460
down €10,460 (-40.7%), from €25,733 to €15,272
- Deferred charges and accrued income +€2,739
new in 2025: €2,739
- Reserves +€24,430
up €24,430 (+38.5%), from €63,500 to €87,930
- Debts after one year -€21,476
down €21,476 (-23.4%), from €91,699 to €70,223
- Profit (loss) carried forward -€11,259
down €11,259 (-100%), from €11,259 to €0
- Tax, wage and social debts -€3,348
down €3,348 (-15.8%), from €21,172 to €17,824
of which Taxes: -€3,348
- Gross operating margin -€3,305
down €3,305 (-12.0%), from €27,584 to €24,279
- Taxes -€816
down €816 (-11.1%), from €7,374 to €6,558
- Other operating charges +€638
up €638 (+105%), from €607 to €1,245
- Financial charges -€399
down €399 (-13.2%), from €3,033 to €2,634
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.
Derived cash bridge
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 | €234,985 | €225,922 | -€9,063 | -3.9% |
| Fixed assets | 21/28 | €208,582 | €207,911 | -€672 | -0.3% |
| Tangible fixed assets | 22/27 | €5,958 | €5,287 | -€672 | -11.3% |
| Other tangible fixed assets | 26 | €5,958 | €5,287 | -€672 | -11.3% |
| Financial fixed assets | 28 | €202,624 | €202,624 | = | 0.0% |
| Current assets | 29/58 | €26,403 | €18,011 | -€8,392 | -31.8% |
| Amounts receivable within one year | 40/41 | €25,733 | €15,272 | -€10,460 | -40.7% |
| Trade receivables | 40 | €25,733 | €15,272 | -€10,460 | -40.7% |
| Cash at bank and in hand | 54/58 | €670 | €0 | -€670 | -100% |
| Deferred charges and accrued income | 490/1 | - | €2,739 | +€2,739 | |
| Total equity and liabilities | 10/49 | €234,985 | €225,922 | -€9,063 | -3.9% |
| Equity | 10/15 | €94,759 | €107,930 | +€13,171 | +13.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €63,500 | €87,930 | +€24,430 | +38.5% |
| Distributable reserves | 133 | €63,500 | €87,930 | +€24,430 | +38.5% |
| Profit (loss) carried forward | 14 | €11,259 | €0 | -€11,259 | -100% |
| Amounts payable | 17/49 | €140,226 | €117,992 | -€22,234 | -15.9% |
| Amounts payable after more than one year | 17 | €91,699 | €70,223 | -€21,476 | -23.4% |
| Financial debts | 170/4 | €91,699 | €70,223 | -€21,476 | -23.4% |
| Amounts payable within one year | 42/48 | €48,031 | €47,297 | -€734 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €20,222 | €21,476 | +€1,254 | +6.2% |
| Financial debts | 43 | €0 | €1,103 | +€1,103 | |
| Credit institutions | 430/8 | €0 | €1,103 | +€1,103 | |
| Trade debts | 44 | €44 | €152 | +€107 | +242% |
| Suppliers | 440/4 | €44 | €152 | +€107 | +242% |
| Taxes, remuneration and social security | 45 | €21,172 | €17,824 | -€3,348 | -15.8% |
| Taxes | 450/3 | €21,172 | €17,824 | -€3,348 | -15.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,593 | €6,743 | +€149 | +2.3% |
| Accrued charges and deferred income | 492/3 | €496 | €472 | -€24 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €672 | €672 | = | 0.0% |
| Other operating charges | 640/8 | €607 | €1,245 | +€638 | +105% |
| Gross operating margin | 9900 | €27,584 | €24,279 | -€3,305 | -12.0% |
| Operating profit (loss) | 9901 | €26,305 | €22,362 | -€3,943 | -15.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €3,033 | €2,634 | -€399 | -13.2% |
| Recurring financial charges | 65 | €3,033 | €2,634 | -€399 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €23,272 | €19,729 | -€3,543 | -15.2% |
| Income taxes | 67/77 | €7,374 | €6,558 | -€816 | -11.1% |
| Profit (loss) for the period | 9904 | €15,898 | €13,171 | -€2,727 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,898 | €13,171 | -€2,727 | -17.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.