AD-VALUE: 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-VALUE
Largest movements
- Receivables within one year +€15,180
up €15,180 (+10.6%), from €142,636 to €157,816
of which Other amounts receivable: +€14,249
- Cash +€1,800
up €1,800 (+900.0%), from €200 to €2,000
mainly Net result for the year (+€12,634) and Tax, wage and social debts (+€6,686)
- Reserves +€12,634
up €12,634 (+32.8%), from €38,488 to €51,122
of which Distributable reserves: +€14,494
- Tax, wage and social debts +€6,686
new in 2025: €6,686
- Trade debts -€2,076
down €2,076 (-76.8%), from €2,704 to €628
- Gross operating margin +€13,326
up €13,326 (+75890.8%), from €18 to €13,344
- Taxes +€6,686
new in 2025: €6,686
- Depreciation -€4,083
down €4,083 (-100.0%), from €4,083 to €0
- Other operating charges +€332
up €332 (+520.7%), from €64 to €396
- Financial income -€205
down €205 (-3.1%), from €6,606 to €6,401
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 | €154,825 | €172,069 | +€17,244 | +11.1% |
| Fixed assets | 21/28 | €1,485 | €1,485 | = | 0.0% |
| Financial fixed assets | 28 | €1,485 | €1,485 | = | 0.0% |
| Current assets | 29/58 | €153,340 | €170,584 | +€17,244 | +11.2% |
| Amounts receivable within one year | 40/41 | €142,636 | €157,816 | +€15,180 | +10.6% |
| Trade receivables | 40 | €34,356 | €35,288 | +€931 | +2.7% |
| Other amounts receivable | 41 | €108,279 | €122,528 | +€14,249 | +13.2% |
| Cash at bank and in hand | 54/58 | €200 | €2,000 | +€1,800 | +900.0% |
| Deferred charges and accrued income | 490/1 | €10,504 | €10,767 | +€264 | +2.5% |
| Total equity and liabilities | 10/49 | €154,825 | €172,069 | +€17,244 | +11.1% |
| Equity | 10/15 | €96,974 | €109,608 | +€12,634 | +13.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,488 | €51,122 | +€12,634 | +32.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €36,628 | €51,122 | +€14,494 | +39.6% |
| Profit (loss) carried forward | 14 | €52,286 | €52,286 | = | 0.0% |
| Provisions and deferred taxes | 16 | €55,147 | €55,147 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €55,147 | €55,147 | = | 0.0% |
| Pensions and similar obligations | 160 | €55,147 | €55,147 | = | 0.0% |
| Amounts payable | 17/49 | €2,704 | €7,314 | +€4,610 | +170.5% |
| Amounts payable within one year | 42/48 | €2,704 | €7,314 | +€4,610 | +170.5% |
| Trade debts | 44 | €2,704 | €628 | -€2,076 | -76.8% |
| Suppliers | 440/4 | €2,704 | €628 | -€2,076 | -76.8% |
| Taxes, remuneration and social security | 45 | - | €6,686 | +€6,686 | |
| Taxes | 450/3 | - | €6,686 | +€6,686 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,083 | €0 | -€4,083 | -100.0% |
| Other operating charges | 640/8 | €64 | €396 | +€332 | +520.7% |
| Gross operating margin | 9900 | €18 | €13,344 | +€13,326 | +75890.8% |
| Operating profit (loss) | 9901 | -€4,130 | €12,948 | +€17,078 | |
| Financial income | 75/76B | €6,606 | €6,401 | -€205 | -3.1% |
| Recurring financial income | 75 | €6,606 | €6,401 | -€205 | -3.1% |
| Financial charges | 65/66B | €95 | €30 | -€65 | -68.6% |
| Recurring financial charges | 65 | €95 | €30 | -€65 | -68.6% |
| Profit (loss) for the period before taxes | 9903 | €2,382 | €19,320 | +€16,938 | +711.1% |
| Income taxes | 67/77 | - | €6,686 | +€6,686 | |
| Profit (loss) for the period | 9904 | €2,382 | €12,634 | +€10,252 | +430.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,382 | €12,634 | +€10,252 | +430.4% |
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 5 October 2026 via checked.be.