AD-TRANS: 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-TRANS
Largest movements
- Tangible fixed assets +€140,811
up €140,811 (+40.2%), from €350,666 to €491,476
of which Furniture and vehicles: +€100,261
- Cash +€37,261
up €37,261 (+22.7%), from €163,829 to €201,090
mainly Debts after one year (+€87,167) and Net result for the year (+€58,690)
- Debts after one year +€87,167
up €87,167 (+25.0%), from €348,429 to €435,596
- Reserves +€58,690
up €58,690 (+45.9%), from €127,874 to €186,564
- Current portion of long-term debt +€29,730
up €29,730 (+228.2%), from €13,031 to €42,761
- Tax, wage and social debts +€21,850
up €21,850 (+55.0%), from €39,763 to €61,614
- Trade debts -€10,979
down €10,979 (-79.1%), from €13,883 to €2,904
- Gross operating margin -€41,329
down €41,329 (-20.7%), from €199,967 to €158,637
- Taxes -€20,484
down €20,484 (-65.7%), from €31,173 to €10,690
- Depreciation +€20,067
up €20,067 (+68.2%), from €29,441 to €49,508
- Other operating charges +€2,065
up €2,065 (+59.8%), from €3,454 to €5,519
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 | €549,103 | €734,602 | +€185,500 | +33.8% |
| Fixed assets | 21/28 | €359,666 | €500,476 | +€140,811 | +39.2% |
| Tangible fixed assets | 22/27 | €350,666 | €491,476 | +€140,811 | +40.2% |
| Land and buildings | 22 | €309,797 | €301,779 | -€8,018 | -2.6% |
| Plant, machinery and equipment | 23 | €1,080 | €9,408 | +€8,328 | +771.1% |
| Furniture and vehicles | 24 | €39,789 | €140,050 | +€100,261 | +252.0% |
| Leasing and similar rights | 25 | - | €40,239 | +€40,239 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €189,437 | €234,126 | +€44,689 | +23.6% |
| Amounts receivable within one year | 40/41 | €25,608 | €28,692 | +€3,084 | +12.0% |
| Trade receivables | 40 | €25,536 | €26,310 | +€775 | +3.0% |
| Other amounts receivable | 41 | €73 | €2,382 | +€2,309 | +3175.8% |
| Cash at bank and in hand | 54/58 | €163,829 | €201,090 | +€37,261 | +22.7% |
| Deferred charges and accrued income | 490/1 | - | €4,344 | +€4,344 | |
| Total equity and liabilities | 10/49 | €549,103 | €734,602 | +€185,500 | +33.8% |
| Equity | 10/15 | €132,874 | €191,564 | +€58,690 | +44.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €127,874 | €186,564 | +€58,690 | +45.9% |
| Distributable reserves | 133 | €127,874 | €186,564 | +€58,690 | +45.9% |
| Amounts payable | 17/49 | €416,228 | €543,038 | +€126,810 | +30.5% |
| Amounts payable after more than one year | 17 | €348,429 | €435,596 | +€87,167 | +25.0% |
| Financial debts | 170/4 | €348,429 | €435,596 | +€87,167 | +25.0% |
| Amounts payable within one year | 42/48 | €67,799 | €107,442 | +€39,643 | +58.5% |
| Current portion of amounts payable after more than one year | 42 | €13,031 | €42,761 | +€29,730 | +228.2% |
| Trade debts | 44 | €13,883 | €2,904 | -€10,979 | -79.1% |
| Suppliers | 440/4 | €13,883 | €2,904 | -€10,979 | -79.1% |
| Taxes, remuneration and social security | 45 | €39,763 | €61,614 | +€21,850 | +55.0% |
| Taxes | 450/3 | €39,763 | €61,614 | +€21,850 | +55.0% |
| Other amounts payable | 47/48 | €1,122 | €164 | -€959 | -85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,441 | €49,508 | +€20,067 | +68.2% |
| Other operating charges | 640/8 | €3,454 | €5,519 | +€2,065 | +59.8% |
| Non-recurring operating charges | 66A | - | €25,195 | +€25,195 | |
| Gross operating margin | 9900 | €199,967 | €158,637 | -€41,329 | -20.7% |
| Operating profit (loss) | 9901 | €167,072 | €78,416 | -€88,656 | -53.1% |
| Financial income | 75/76B | €187 | €0 | -€187 | -100.0% |
| Recurring financial income | 75 | €187 | €0 | -€187 | -100.0% |
| Financial charges | 65/66B | €8,211 | €9,036 | +€825 | +10.1% |
| Recurring financial charges | 65 | €8,211 | €9,036 | +€825 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €159,048 | €69,380 | -€89,668 | -56.4% |
| Income taxes | 67/77 | €31,173 | €10,690 | -€20,484 | -65.7% |
| Profit (loss) for the period | 9904 | €127,874 | €58,690 | -€69,184 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €127,874 | €58,690 | -€69,184 | -54.1% |
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 12 October 2026 via checked.be.