AD SPORTSCARS: 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.
What changed
AD SPORTSCARS
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€94,415
2024 · €189,841-€284,255
Equity
€586,701
2024 · €681,116-€94,415
Cash
€469,143
2024 · €473,047-€3,904
Balance sheet total
€2.2m
2024 · €2.5m-€236,167
Largest movements
Assets
- Stocks and contracts -€161,849
down €161,849 (-19.4%), from €836,133 to €674,283
- Receivables after one year -€100,000
no longer reported in 2025 (was €100,000)
Equity and liabilities
- Profit (loss) carried forward -€86,741
new in 2025: -€86,741
- Trade debts -€82,233
down €82,233 (-83.1%), from €98,962 to €16,728
- Debts after one year -€60,889
down €60,889 (-5.0%), from €1.2m to €1.2m
of which Financial debts: -€60,889
- Advances received +€35,930
new in 2025: €35,930
- Other debts -€33,439
down €33,439 (-10.1%), from €329,920 to €296,481
Income statement
- Gross operating margin -€351,209
down €351,209 (-91.9%), from €382,005 to €30,795
- Taxes -€31,951
down €31,951, from €25,347 to -€6,604
- Depreciation +€17,942
up €17,942 (+42.6%), from €42,087 to €60,029
- Staff costs +€15,787
up €15,787 (+94.1%), from €16,778 to €32,565
- Financial charges -€12,611
down €12,611 (-21.5%), from €58,707 to €46,097
of which Financial charges: -€23,017
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.
Result 2024
€189,841
Gross operating margin
-€351,209
Staff costs
-€15,787
Depreciation
-€17,942
Other operating charges
-€129
Financial income
+€5,730
Financial charges
+€12,611
Taxes
+€31,951
Deferred taxes and other
+€50,520
Result 2025
-€94,415
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€128,811
Investment
-€81,208
Financing
-€51,508
Cash 2024
€473,047
From operations (derived)
+€128,811
Net result for the year
-€94,415
Depreciation
+€60,029
Receivables after one year
+€100,000
Stocks and contracts
+€161,849
Receivables within one year
-€9,055
Deferred charges and accrued income
+€646
Provisions
-€2,558
Trade debts
-€82,233
Tax, wage and social debts
-€7,944
Advances received
+€35,930
Other debts
-€33,439
Investment (derived)
-€81,208
Investment in fixed assets (net)
-€81,208
Financing
-€51,508
Debts after one year
-€60,889
Current portion of long-term debt
+€9,381
Cash 2025
€469,143
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,485,493 | €2,249,326 | -€236,167 | -9.5% |
| Fixed assets | 21/28 | €1,026,533 | €1,047,712 | +€21,179 | +2.1% |
| Tangible fixed assets | 22/27 | €1,026,533 | €1,047,712 | +€21,179 | +2.1% |
| Land and buildings | 22 | €1,001,563 | €1,016,965 | +€15,401 | +1.5% |
| Plant, machinery and equipment | 23 | €11,411 | €21,634 | +€10,223 | +89.6% |
| Furniture and vehicles | 24 | €13,559 | €9,113 | -€4,446 | -32.8% |
| Current assets | 29/58 | €1,458,960 | €1,201,615 | -€257,345 | -17.6% |
| Amounts receivable after more than one year | 29 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Stocks and contracts in progress | 3 | €836,133 | €674,283 | -€161,849 | -19.4% |
| Stocks | 30/36 | €836,133 | €674,283 | -€161,849 | -19.4% |
| Amounts receivable within one year | 40/41 | €49,134 | €58,188 | +€9,055 | +18.4% |
| Trade receivables | 40 | - | €5,550 | +€5,550 | |
| Other amounts receivable | 41 | €49,134 | €52,639 | +€3,505 | +7.1% |
| Cash at bank and in hand | 54/58 | €473,047 | €469,143 | -€3,904 | -0.8% |
| Deferred charges and accrued income | 490/1 | €646 | €0 | -€646 | -100% |
| Total equity and liabilities | 10/49 | €2,485,493 | €2,249,326 | -€236,167 | -9.5% |
| Equity | 10/15 | €681,116 | €586,701 | -€94,415 | -13.9% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Reserves | 13 | €261,116 | €253,442 | -€7,674 | -2.9% |
| Tax-exempt reserves | 132 | €143,885 | €136,211 | -€7,674 | -5.3% |
| Distributable reserves | 133 | €117,231 | €117,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€86,741 | -€86,741 | |
| Provisions and deferred taxes | 16 | €47,962 | €45,404 | -€2,558 | -5.3% |
| Deferred taxes | 168 | €47,962 | €45,404 | -€2,558 | -5.3% |
| Amounts payable | 17/49 | €1,756,416 | €1,617,222 | -€139,194 | -7.9% |
| Amounts payable after more than one year | 17 | €1,224,923 | €1,164,034 | -€60,889 | -5.0% |
| Financial debts | 170/4 | €602,403 | €541,514 | -€60,889 | -10.1% |
| Other amounts payable | 178/9 | €622,520 | €622,520 | = | 0.0% |
| Amounts payable within one year | 42/48 | €531,492 | €453,187 | -€78,305 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €51,508 | €60,889 | +€9,381 | +18.2% |
| Trade debts | 44 | €98,962 | €16,728 | -€82,233 | -83.1% |
| Suppliers | 440/4 | €98,962 | €16,728 | -€82,233 | -83.1% |
| Advances received on contracts in progress | 46 | - | €35,930 | +€35,930 | |
| Taxes, remuneration and social security | 45 | €51,103 | €43,159 | -€7,944 | -15.5% |
| Taxes | 450/3 | €46,604 | €40,317 | -€6,288 | -13.5% |
| Remuneration and social security | 454/9 | €4,499 | €2,843 | -€1,656 | -36.8% |
| Other amounts payable | 47/48 | €329,920 | €296,481 | -€33,439 | -10.1% |
| Non-recurring operating income | 76A | €196,238 | €0 | -€196,238 | -100% |
| Remuneration, social security and pensions | 62 | €16,778 | €32,565 | +€15,787 | +94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,087 | €60,029 | +€17,942 | +42.6% |
| Other operating charges | 640/8 | €2,629 | €2,758 | +€129 | +4.9% |
| Gross operating margin | 9900 | €382,005 | €30,795 | -€351,209 | -91.9% |
| Operating profit (loss) | 9901 | €320,510 | -€64,556 | -€385,067 | |
| Financial income | 75/76B | €1,347 | €7,077 | +€5,730 | +425% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100% |
| Non-recurring financial income | 76B | €1,331 | €7,077 | +€5,746 | +432% |
| Financial charges | 65/66B | €58,707 | €46,097 | -€12,611 | -21.5% |
| Recurring financial charges | 65 | €58,173 | €35,156 | -€23,017 | -39.6% |
| Non-recurring financial charges | 66B | €534 | €10,940 | +€10,406 | +1,950% |
| Profit (loss) for the period before taxes | 9903 | €263,150 | -€103,576 | -€366,726 | |
| Transfer from deferred taxes | 780 | €1,098 | €2,558 | +€1,460 | +133% |
| Transfer to deferred taxes | 680 | €49,060 | €0 | -€49,060 | -100% |
| Income taxes | 67/77 | €25,347 | -€6,604 | -€31,951 | |
| Profit (loss) for the period | 9904 | €189,841 | -€94,415 | -€284,255 | |
| Transfer from tax-exempt reserves | 789 | €3,294 | €7,674 | +€4,380 | +133% |
| Transfer to tax-exempt reserves | 689 | €147,179 | €0 | -€147,179 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €45,956 | -€86,741 | -€132,697 |
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 30 October 2026 via checked.be.