AD VALORIS: 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 VALORIS
Largest movements
- Cash +€11,220
up €11,220 (+207.1%), from €5,418 to €16,638
mainly Net result for the year (+€4,372) and Other debts (+€3,400)
- Receivables within one year -€3,382
down €3,382 (-18.9%), from €17,871 to €14,489
of which Trade receivables: -€8,732
- Intangible fixed assets -€823
down €823 (-62.7%), from €1,313 to €490
- Other debts +€3,400
new in 2025: €3,400
- Trade debts +€1,801
up €1,801 (+308.4%), from €584 to €2,385
- Profit (loss) carried forward +€972
up €972 (+6.2%), from €15,763 to €16,735
- Tax, wage and social debts +€742
up €742 (+29.5%), from €2,512 to €3,254
- Gross operating margin +€11,041
up €11,041, from -€5,213 to €5,828
- Depreciation -€4,016
down €4,016 (-81.3%), from €4,939 to €923
- Other operating charges +€387
new in 2025: €387
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 | €24,859 | €31,774 | +€6,915 | +27.8% |
| Fixed assets | 21/28 | €1,526 | €603 | -€923 | -60.5% |
| Intangible fixed assets | 21 | €1,313 | €490 | -€823 | -62.7% |
| Tangible fixed assets | 22/27 | €113 | €13 | -€100 | -88.5% |
| Furniture and vehicles | 24 | €113 | €13 | -€100 | -88.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €23,333 | €31,171 | +€7,838 | +33.6% |
| Amounts receivable within one year | 40/41 | €17,871 | €14,489 | -€3,382 | -18.9% |
| Trade receivables | 40 | €17,854 | €9,122 | -€8,732 | -48.9% |
| Other amounts receivable | 41 | €17 | €5,367 | +€5,350 | +31470.6% |
| Cash at bank and in hand | 54/58 | €5,418 | €16,638 | +€11,220 | +207.1% |
| Deferred charges and accrued income | 490/1 | €44 | €44 | = | 0.0% |
| Total equity and liabilities | 10/49 | €24,859 | €31,774 | +€6,915 | +27.8% |
| Equity | 10/15 | €21,763 | €22,735 | +€972 | +4.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,763 | €16,735 | +€972 | +6.2% |
| Amounts payable | 17/49 | €3,096 | €9,039 | +€5,943 | +192.0% |
| Amounts payable within one year | 42/48 | €3,096 | €9,039 | +€5,943 | +192.0% |
| Trade debts | 44 | €584 | €2,385 | +€1,801 | +308.4% |
| Suppliers | 440/4 | €584 | €2,385 | +€1,801 | +308.4% |
| Taxes, remuneration and social security | 45 | €2,512 | €3,254 | +€742 | +29.5% |
| Taxes | 450/3 | €2,512 | €3,254 | +€742 | +29.5% |
| Other amounts payable | 47/48 | - | €3,400 | +€3,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,939 | €923 | -€4,016 | -81.3% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Non-recurring operating charges | 66A | €385 | - | -€385 | |
| Gross operating margin | 9900 | -€5,213 | €5,828 | +€11,041 | |
| Operating profit (loss) | 9901 | -€10,537 | €4,518 | +€15,055 | |
| Financial charges | 65/66B | €150 | €146 | -€4 | -2.7% |
| Recurring financial charges | 65 | €150 | €146 | -€4 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,687 | €4,372 | +€15,059 | |
| Profit (loss) for the period | 9904 | -€10,687 | €4,372 | +€15,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,687 | €4,372 | +€15,059 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.