AD/TD: 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/TD
Largest movements
- Cash +€98,283
up €98,283 (+271%), from €36,216 to €134,499
mainly Net result for the year (+€119,114) and Depreciation (+€14,945)
- Tangible fixed assets -€14,945
down €14,945 (-25.2%), from €59,302 to €44,357
of which Furniture and vehicles: -€14,353
- Receivables within one year +€13,156
up €13,156 (+40.9%), from €32,164 to €45,320
of which Other amounts receivable: +€8,037
- Reserves +€117,396
up €117,396 (+200%), from €58,568 to €175,965
- Debts after one year -€12,594
down €12,594 (-28.5%), from €44,176 to €31,582
- Tax, wage and social debts -€8,126
down €8,126 (-99.9%), from €8,132 to €6
- Gross operating margin +€119,068
up €119,068 (+226%), from €52,702 to €171,770
- Taxes +€27,160
up €27,160 (+292%), from €9,289 to €36,450
- Depreciation +€4,109
up €4,109 (+37.9%), from €10,835 to €14,945
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 | €127,681 | €224,176 | +€96,494 | +75.6% |
| Fixed assets | 21/28 | €59,302 | €44,357 | -€14,945 | -25.2% |
| Tangible fixed assets | 22/27 | €59,302 | €44,357 | -€14,945 | -25.2% |
| Plant, machinery and equipment | 23 | €690 | €99 | -€591 | -85.7% |
| Furniture and vehicles | 24 | €58,612 | €44,259 | -€14,353 | -24.5% |
| Current assets | 29/58 | €68,379 | €179,818 | +€111,439 | +163% |
| Amounts receivable within one year | 40/41 | €32,164 | €45,320 | +€13,156 | +40.9% |
| Trade receivables | 40 | €9,612 | €14,731 | +€5,119 | +53.3% |
| Other amounts receivable | 41 | €22,552 | €30,589 | +€8,037 | +35.6% |
| Cash at bank and in hand | 54/58 | €36,216 | €134,499 | +€98,283 | +271% |
| Total equity and liabilities | 10/49 | €127,681 | €224,176 | +€96,494 | +75.6% |
| Equity | 10/15 | €60,568 | €177,965 | +€117,396 | +194% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,568 | €175,965 | +€117,396 | +200% |
| Distributable reserves | 133 | €58,568 | €175,965 | +€117,396 | +200% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,113 | €46,211 | -€20,902 | -31.1% |
| Amounts payable after more than one year | 17 | €44,176 | €31,582 | -€12,594 | -28.5% |
| Financial debts | 170/4 | €44,176 | €31,582 | -€12,594 | -28.5% |
| Amounts payable within one year | 42/48 | €22,135 | €14,629 | -€7,506 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €12,064 | €12,594 | +€530 | +4.4% |
| Trade debts | 44 | €1,938 | €2,029 | +€90 | +4.7% |
| Suppliers | 440/4 | €1,938 | €2,029 | +€90 | +4.7% |
| Taxes, remuneration and social security | 45 | €8,132 | €6 | -€8,126 | -99.9% |
| Taxes | 450/3 | €8,132 | €6 | -€8,126 | -99.9% |
| Accrued charges and deferred income | 492/3 | €802 | €0 | -€802 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,835 | €14,945 | +€4,109 | +37.9% |
| Other operating charges | 640/8 | €1,158 | €169 | -€989 | -85.4% |
| Gross operating margin | 9900 | €52,702 | €171,770 | +€119,068 | +226% |
| Operating profit (loss) | 9901 | €40,708 | €156,656 | +€115,948 | +285% |
| Financial income | 75/76B | €1,036 | €1,393 | +€357 | +34.4% |
| Recurring financial income | 75 | €1,036 | €1,393 | +€357 | +34.4% |
| Financial charges | 65/66B | €2,311 | €2,486 | +€175 | +7.6% |
| Recurring financial charges | 65 | €2,311 | €2,486 | +€175 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €39,434 | €155,564 | +€116,130 | +294% |
| Income taxes | 67/77 | €9,289 | €36,450 | +€27,160 | +292% |
| Profit (loss) for the period | 9904 | €30,145 | €119,114 | +€88,969 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €30,145 | €119,114 | +€88,969 | +295% |
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.