AD STABLES: 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 STABLES
Largest movements
- Cash -€20,255
down €20,255 (-35.0%), from €57,832 to €37,577
mainly Other debts (-€23,259) and Tax, wage and social debts (-€21,046)
- Receivables within one year +€15,758
up €15,758 (+32.4%), from €48,635 to €64,392
of which Trade receivables: +€15,502
- Tangible fixed assets -€12,841
down €12,841 (-18.4%), from €69,773 to €56,932
of which Furniture and vehicles: -€11,219
- Deferred charges and accrued income +€2,744
up €2,744 (+275.1%), from €997 to €3,741
- Profit (loss) carried forward +€23,923
up €23,923 (+31.1%), from €76,951 to €100,874
- Other debts -€23,259
down €23,259 (-45.2%), from €51,402 to €28,143
- Tax, wage and social debts -€21,046
down €21,046 (-77.7%), from €27,069 to €6,023
of which Taxes: -€20,436
- Trade debts +€8,141
up €8,141 (+86.6%), from €9,397 to €17,538
- Current portion of long-term debt -€5,144
down €5,144 (-65.6%), from €7,841 to €2,697
- Gross operating margin +€37,093
up €37,093 (+134.3%), from €27,610 to €64,703
- Taxes +€4,757
new in 2025: €4,757
- Depreciation -€3,454
down €3,454 (-18.6%), from €18,582 to €15,128
- Financial income -€2,372
down €2,372 (-97.7%), from €2,427 to €55
of which Non-recurring financial income: -€2,228
- Financial charges +€1,466
up €1,466 (+894.4%), from €164 to €1,629
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 | €191,260 | €176,665 | -€14,595 | -7.6% |
| Fixed assets | 21/28 | €69,796 | €56,955 | -€12,841 | -18.4% |
| Tangible fixed assets | 22/27 | €69,773 | €56,932 | -€12,841 | -18.4% |
| Plant, machinery and equipment | 23 | €28,270 | €27,007 | -€1,263 | -4.5% |
| Furniture and vehicles | 24 | €39,886 | €28,667 | -€11,219 | -28.1% |
| Other tangible fixed assets | 26 | €1,617 | €1,258 | -€359 | -22.2% |
| Financial fixed assets | 28 | €23 | €23 | = | 0.0% |
| Current assets | 29/58 | €121,464 | €119,710 | -€1,753 | -1.4% |
| Stocks and contracts in progress | 3 | €14,000 | €14,000 | = | 0.0% |
| Stocks | 30/36 | €14,000 | €14,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,635 | €64,392 | +€15,758 | +32.4% |
| Trade receivables | 40 | €48,635 | €64,136 | +€15,502 | +31.9% |
| Other amounts receivable | 41 | - | €256 | +€256 | |
| Cash at bank and in hand | 54/58 | €57,832 | €37,577 | -€20,255 | -35.0% |
| Deferred charges and accrued income | 490/1 | €997 | €3,741 | +€2,744 | +275.1% |
| Total equity and liabilities | 10/49 | €191,260 | €176,665 | -€14,595 | -7.6% |
| Equity | 10/15 | €95,551 | €119,474 | +€23,923 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,951 | €100,874 | +€23,923 | +31.1% |
| Amounts payable | 17/49 | €95,709 | €57,192 | -€38,517 | -40.2% |
| Amounts payable after more than one year | 17 | - | €2,790 | +€2,790 | |
| Financial debts | 170/4 | - | €2,790 | +€2,790 | |
| Amounts payable within one year | 42/48 | €95,709 | €54,401 | -€41,308 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €7,841 | €2,697 | -€5,144 | -65.6% |
| Trade debts | 44 | €9,397 | €17,538 | +€8,141 | +86.6% |
| Suppliers | 440/4 | €9,397 | €17,538 | +€8,141 | +86.6% |
| Taxes, remuneration and social security | 45 | €27,069 | €6,023 | -€21,046 | -77.7% |
| Taxes | 450/3 | €25,986 | €5,551 | -€20,436 | -78.6% |
| Remuneration and social security | 454/9 | €1,082 | €472 | -€610 | -56.4% |
| Other amounts payable | 47/48 | €51,402 | €28,143 | -€23,259 | -45.2% |
| Remuneration, social security and pensions | 62 | €17,100 | €17,243 | +€144 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,582 | €15,128 | -€3,454 | -18.6% |
| Other operating charges | 640/8 | €1,260 | €2,077 | +€816 | +64.8% |
| Gross operating margin | 9900 | €27,610 | €64,703 | +€37,093 | +134.3% |
| Operating profit (loss) | 9901 | -€9,333 | €30,254 | +€39,587 | |
| Financial income | 75/76B | €2,427 | €55 | -€2,372 | -97.7% |
| Recurring financial income | 75 | €199 | €55 | -€144 | -72.2% |
| Non-recurring financial income | 76B | €2,228 | - | -€2,228 | |
| Financial charges | 65/66B | €164 | €1,629 | +€1,466 | +894.4% |
| Recurring financial charges | 65 | €164 | €1,629 | +€1,466 | +894.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,069 | €28,680 | +€35,749 | |
| Income taxes | 67/77 | - | €4,757 | +€4,757 | |
| Profit (loss) for the period | 9904 | -€7,069 | €23,923 | +€30,992 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,069 | €23,923 | +€30,992 |
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 3 October 2026 via checked.be.