Ad Rem Consulting: 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 Consulting
Largest movements
- Receivables within one year +€174,718
up €174,718 (+11.3%), from €1.5m to €1.7m
of which Other amounts receivable: +€173,668
- Profit (loss) carried forward +€51,595
up €51,595 (+74.9%), from €68,873 to €120,468
- Other debts +€50,173
up €50,173 (+4.7%), from €1.1m to €1.1m
- Trade debts +€47,598
up €47,598 (+63.9%), from €74,508 to €122,107
- Debts after one year +€32,745
new in 2025: €32,745
- Gross operating margin -€11,507
down €11,507 (-13.8%), from €83,330 to €71,823
- Financial charges -€8,093
down €8,093 (-13.5%), from €60,092 to €51,999
- Taxes -€4,792
down €4,792 (-23.7%), from €20,200 to €15,408
- Financial income +€2,680
up €2,680 (+5.3%), from €50,448 to €53,129
- Other operating charges +€2,251
up €2,251 (+132%), from €1,701 to €3,952
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 | €1,560,146 | €1,732,410 | +€172,264 | +11.0% |
| Fixed assets | 21/28 | €10,215 | €8,219 | -€1,997 | -19.5% |
| Tangible fixed assets | 22/27 | €10,189 | €8,193 | -€1,997 | -19.6% |
| Furniture and vehicles | 24 | €453 | €35 | -€418 | -92.4% |
| Other tangible fixed assets | 26 | €9,737 | €8,158 | -€1,579 | -16.2% |
| Financial fixed assets | 28 | €26 | €26 | = | 0.0% |
| Current assets | 29/58 | €1,549,931 | €1,724,192 | +€174,261 | +11.2% |
| Amounts receivable within one year | 40/41 | €1,547,471 | €1,722,188 | +€174,718 | +11.3% |
| Trade receivables | 40 | €21,000 | €22,050 | +€1,050 | +5.0% |
| Other amounts receivable | 41 | €1,526,471 | €1,700,138 | +€173,668 | +11.4% |
| Cash at bank and in hand | 54/58 | €346 | €534 | +€188 | +54.2% |
| Deferred charges and accrued income | 490/1 | €2,114 | €1,469 | -€644 | -30.5% |
| Total equity and liabilities | 10/49 | €1,560,146 | €1,732,410 | +€172,264 | +11.0% |
| Equity | 10/15 | €385,652 | €437,247 | +€51,595 | +13.4% |
| Contributions | 10/11 | €26,459 | €26,459 | = | 0.0% |
| Reserves | 13 | €290,320 | €290,320 | = | 0.0% |
| Distributable reserves | 133 | €290,320 | €290,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,873 | €120,468 | +€51,595 | +74.9% |
| Amounts payable | 17/49 | €1,174,494 | €1,295,163 | +€120,669 | +10.3% |
| Amounts payable after more than one year | 17 | - | €32,745 | +€32,745 | |
| Financial debts | 170/4 | - | €32,745 | +€32,745 | |
| Amounts payable within one year | 42/48 | €1,174,494 | €1,262,418 | +€87,924 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | - | €1,893 | +€1,893 | |
| Trade debts | 44 | €74,508 | €122,107 | +€47,598 | +63.9% |
| Suppliers | 440/4 | €74,508 | €122,107 | +€47,598 | +63.9% |
| Taxes, remuneration and social security | 45 | €39,758 | €28,017 | -€11,740 | -29.5% |
| Taxes | 450/3 | €39,758 | €28,017 | -€11,740 | -29.5% |
| Other amounts payable | 47/48 | €1,060,228 | €1,110,401 | +€50,173 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,989 | €1,997 | +€7 | +0.4% |
| Other operating charges | 640/8 | €1,701 | €3,952 | +€2,251 | +132% |
| Gross operating margin | 9900 | €83,330 | €71,823 | -€11,507 | -13.8% |
| Operating profit (loss) | 9901 | €79,640 | €65,874 | -€13,766 | -17.3% |
| Financial income | 75/76B | €50,448 | €53,129 | +€2,680 | +5.3% |
| Recurring financial income | 75 | €50,448 | €53,129 | +€2,680 | +5.3% |
| Financial charges | 65/66B | €60,092 | €51,999 | -€8,093 | -13.5% |
| Recurring financial charges | 65 | €60,092 | €51,999 | -€8,093 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €69,996 | €67,003 | -€2,993 | -4.3% |
| Income taxes | 67/77 | €20,200 | €15,408 | -€4,792 | -23.7% |
| Profit (loss) for the period | 9904 | €49,796 | €51,595 | +€1,799 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,796 | €51,595 | +€1,799 | +3.6% |
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 25 October 2026 via checked.be.