AD REM: 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 REM
Largest movements
- Receivables within one year +€12,157
up €12,157 (+131%), from €9,269 to €21,426
of which Trade receivables: +€7,022
- Tangible fixed assets +€6,849
up €6,849 (+18.9%), from €36,156 to €43,005
of which Land and buildings: +€8,647
- Trade debts +€13,842
up €13,842 (+506%), from €2,737 to €16,579
- Profit (loss) carried forward +€4,542
up €4,542 (+24.8%), from -€18,350 to -€13,808
- Other debts -€3,114
down €3,114 (-9.2%), from €33,912 to €30,797
- Debts after one year +€2,703
up €2,703 (+9.2%), from €29,480 to €32,183
- Accrued charges and deferred income +€2,175
up €2,175 (+242%), from €900 to €3,075
- Gross operating margin +€9,320
up €9,320 (+164%), from €5,681 to €15,001
- Depreciation -€4,080
down €4,080 (-40.9%), from €9,982 to €5,902
- Taxes +€1,508
new in 2025: €1,508
- Other operating charges -€1,047
down €1,047 (-57.6%), from €1,818 to €771
- Financial charges -€184
down €184 (-7.5%), from €2,464 to €2,281
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 | €71,308 | €90,535 | +€19,227 | +27.0% |
| Fixed assets | 21/28 | €36,156 | €43,005 | +€6,849 | +18.9% |
| Tangible fixed assets | 22/27 | €36,156 | €43,005 | +€6,849 | +18.9% |
| Land and buildings | 22 | €30,426 | €39,073 | +€8,647 | +28.4% |
| Plant, machinery and equipment | 23 | €1,899 | €1,239 | -€659 | -34.7% |
| Furniture and vehicles | 24 | €3,831 | €2,693 | -€1,138 | -29.7% |
| Current assets | 29/58 | €35,152 | €47,530 | +€12,378 | +35.2% |
| Amounts receivable within one year | 40/41 | €9,269 | €21,426 | +€12,157 | +131% |
| Trade receivables | 40 | €8,351 | €15,373 | +€7,022 | +84.1% |
| Other amounts receivable | 41 | €919 | €6,053 | +€5,134 | +559% |
| Cash at bank and in hand | 54/58 | €25,883 | €26,104 | +€221 | +0.9% |
| Total equity and liabilities | 10/49 | €71,308 | €90,535 | +€19,227 | +27.0% |
| Equity | 10/15 | -€3,694 | €848 | +€4,542 | |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €7,211 | €7,211 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,364 | €3,364 | = | 0.0% |
| Distributable reserves | 133 | €1,988 | €1,988 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,350 | -€13,808 | +€4,542 | +24.8% |
| Amounts payable | 17/49 | €75,002 | €89,687 | +€14,685 | +19.6% |
| Amounts payable after more than one year | 17 | €29,480 | €32,183 | +€2,703 | +9.2% |
| Financial debts | 170/4 | €29,480 | €32,183 | +€2,703 | +9.2% |
| Amounts payable within one year | 42/48 | €44,621 | €54,429 | +€9,808 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €7,233 | €6,948 | -€285 | -3.9% |
| Trade debts | 44 | €2,737 | €16,579 | +€13,842 | +506% |
| Suppliers | 440/4 | €2,737 | €16,579 | +€13,842 | +506% |
| Taxes, remuneration and social security | 45 | €740 | €105 | -€636 | -85.8% |
| Taxes | 450/3 | €740 | €105 | -€636 | -85.8% |
| Other amounts payable | 47/48 | €33,912 | €30,797 | -€3,114 | -9.2% |
| Accrued charges and deferred income | 492/3 | €900 | €3,075 | +€2,175 | +242% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,982 | €5,902 | -€4,080 | -40.9% |
| Other operating charges | 640/8 | €1,818 | €771 | -€1,047 | -57.6% |
| Gross operating margin | 9900 | €5,681 | €15,001 | +€9,320 | +164% |
| Operating profit (loss) | 9901 | -€6,120 | €8,328 | +€14,448 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €2,464 | €2,281 | -€184 | -7.5% |
| Recurring financial charges | 65 | €2,464 | €2,281 | -€184 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,584 | €6,050 | +€14,634 | |
| Income taxes | 67/77 | - | €1,508 | +€1,508 | |
| Profit (loss) for the period | 9904 | -€8,584 | €4,542 | +€13,126 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,584 | €4,542 | +€13,126 |
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 17 October 2026 via checked.be.