AD Style: 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 Style
NACE 13.300, Finishing of textiles
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,796
2024 · €38,980-€22,184
Equity
€160,282
2024 · €163,486-€3,204
Cash
€60,103
2024 · €52,532+€7,571
Balance sheet total
€757,707
2024 · €784,733-€27,026
Largest movements
Assets
- Stocks and contracts -€21,595
down €21,595 (-15.8%), from €136,293 to €114,698
- Tangible fixed assets -€21,426
down €21,426 (-4.0%), from €541,562 to €520,136
of which Land and buildings: -€12,910
Equity and liabilities
- Debts after one year -€31,548
down €31,548 (-6.3%), from €503,250 to €471,702
- Other debts +€16,954
up €16,954 (+399.0%), from €4,250 to €21,204
Income statement
- Gross operating margin -€20,912
down €20,912 (-23.5%), from €88,853 to €67,942
- Write-downs +€8,863
up €8,863 (+5454.1%), from €163 to €9,025
- Taxes -€7,068
down €7,068 (-57.7%), from €12,243 to €5,175
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
€38,980
Gross operating margin
-€20,912
Depreciation
+€850
Write-downs
-€8,863
Other operating charges
-€167
Financial income
-€436
Financial charges
+€276
Taxes
+€7,068
Result 2025
€16,796
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.
From operations
+€60,645
Investment
-€1,976
Financing
-€51,098
Cash 2024
€52,532
From operations (derived)
+€60,645
Net result for the year
+€16,796
Depreciation
+€23,402
Stocks and contracts
+€21,595
Receivables within one year
-€7,177
Deferred charges and accrued income
-€1,247
Trade debts
-€6,998
Tax, wage and social debts
-€2,553
Other debts
+€16,954
Accrued charges and deferred income
-€128
Investment (derived)
-€1,976
Investment in fixed assets (net)
-€1,976
Financing
-€51,098
Debts after one year
-€31,548
Current portion of long-term debt
+€450
Contributions, distributions and other
-€20,000
Cash 2025
€60,103
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €784,733 | €757,707 | -€27,026 | -3.4% |
| Fixed assets | 21/28 | €542,312 | €520,886 | -€21,426 | -4.0% |
| Tangible fixed assets | 22/27 | €541,562 | €520,136 | -€21,426 | -4.0% |
| Land and buildings | 22 | €510,465 | €497,555 | -€12,910 | -2.5% |
| Plant, machinery and equipment | 23 | €25,856 | €20,100 | -€5,755 | -22.3% |
| Furniture and vehicles | 24 | €5,241 | €2,480 | -€2,761 | -52.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €242,421 | €236,821 | -€5,600 | -2.3% |
| Stocks and contracts in progress | 3 | €136,293 | €114,698 | -€21,595 | -15.8% |
| Stocks | 30/36 | €136,293 | €114,698 | -€21,595 | -15.8% |
| Amounts receivable within one year | 40/41 | €50,052 | €57,229 | +€7,177 | +14.3% |
| Trade receivables | 40 | €49,960 | €57,229 | +€7,269 | +14.5% |
| Other amounts receivable | 41 | €92 | - | -€92 | |
| Cash at bank and in hand | 54/58 | €52,532 | €60,103 | +€7,571 | +14.4% |
| Deferred charges and accrued income | 490/1 | €3,544 | €4,791 | +€1,247 | +35.2% |
| Total equity and liabilities | 10/49 | €784,733 | €757,707 | -€27,026 | -3.4% |
| Equity | 10/15 | €163,486 | €160,282 | -€3,204 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,299 | €40,299 | = | 0.0% |
| Distributable reserves | 133 | €40,299 | €40,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,587 | €101,383 | -€3,204 | -3.1% |
| Amounts payable | 17/49 | €621,247 | €597,425 | -€23,822 | -3.8% |
| Amounts payable after more than one year | 17 | €503,250 | €471,702 | -€31,548 | -6.3% |
| Financial debts | 170/4 | €503,250 | €471,702 | -€31,548 | -6.3% |
| Amounts payable within one year | 42/48 | €117,395 | €125,249 | +€7,854 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €31,097 | €31,547 | +€450 | +1.4% |
| Trade debts | 44 | €51,477 | €44,479 | -€6,998 | -13.6% |
| Suppliers | 440/4 | €51,477 | €44,479 | -€6,998 | -13.6% |
| Taxes, remuneration and social security | 45 | €30,572 | €28,019 | -€2,553 | -8.4% |
| Taxes | 450/3 | €22,893 | €20,919 | -€1,974 | -8.6% |
| Remuneration and social security | 454/9 | €7,679 | €7,101 | -€579 | -7.5% |
| Other amounts payable | 47/48 | €4,250 | €21,204 | +€16,954 | +399.0% |
| Accrued charges and deferred income | 492/3 | €602 | €474 | -€128 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,252 | €23,402 | -€850 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €163 | €9,025 | +€8,863 | +5454.1% |
| Other operating charges | 640/8 | €3,541 | €3,708 | +€167 | +4.7% |
| Gross operating margin | 9900 | €88,853 | €67,942 | -€20,912 | -23.5% |
| Operating profit (loss) | 9901 | €60,897 | €31,805 | -€29,092 | -47.8% |
| Financial income | 75/76B | €664 | €228 | -€436 | -65.6% |
| Recurring financial income | 75 | €664 | €228 | -€436 | -65.6% |
| Financial charges | 65/66B | €10,338 | €10,062 | -€276 | -2.7% |
| Recurring financial charges | 65 | €10,338 | €10,062 | -€276 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €51,223 | €21,971 | -€29,252 | -57.1% |
| Income taxes | 67/77 | €12,243 | €5,175 | -€7,068 | -57.7% |
| Profit (loss) for the period | 9904 | €38,980 | €16,796 | -€22,184 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,980 | €16,796 | -€22,184 | -56.9% |
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 10 October 2026 via checked.be.