AD-VENTING: 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-VENTING
Largest movements
- Receivables within one year +€241,916
up €241,916 (+109%), from €222,030 to €463,947
of which Trade receivables: +€450,500
- Cash -€172,937
down €172,937 (-69.5%), from €248,864 to €75,927
mainly Contributions, distributions and other (-€900,000) and Receivables within one year (-€241,916)
- Deferred charges and accrued income +€170,041
up €170,041 (+5,129%), from €3,315 to €173,356
- Other debts +€788,460
up €788,460 (+522%), from €151,134 to €939,594
- Reserves -€520,585
down €520,585 (-99.2%), from €524,545 to €3,960
- Tax, wage and social debts -€35,676
down €35,676 (-87.8%), from €40,648 to €4,972
of which Taxes: -€34,674
- Current portion of long-term debt +€20,357
up €20,357 (+136%), from €14,999 to €35,356
- Debts after one year -€15,356
down €15,356 (-9.0%), from €170,803 to €155,447
- Financial income +€167,387
up €167,387 (+4,375%), from €3,826 to €171,213
- Gross operating margin -€6,643
down €6,643 (-2.2%), from €301,072 to €294,429
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 | €923,107 | €1,158,709 | +€235,602 | +25.5% |
| Fixed assets | 21/28 | €448,897 | €445,479 | -€3,418 | -0.8% |
| Tangible fixed assets | 22/27 | €288,897 | €285,479 | -€3,418 | -1.2% |
| Land and buildings | 22 | €268,536 | €271,193 | +€2,657 | +1.0% |
| Furniture and vehicles | 24 | €20,361 | €14,286 | -€6,076 | -29.8% |
| Financial fixed assets | 28 | €160,000 | €160,000 | = | 0.0% |
| Current assets | 29/58 | €474,209 | €713,230 | +€239,021 | +50.4% |
| Amounts receivable within one year | 40/41 | €222,030 | €463,947 | +€241,916 | +109% |
| Trade receivables | 40 | €12,500 | €463,000 | +€450,500 | +3,604% |
| Other amounts receivable | 41 | €209,530 | €947 | -€208,584 | -99.5% |
| Cash at bank and in hand | 54/58 | €248,864 | €75,927 | -€172,937 | -69.5% |
| Deferred charges and accrued income | 490/1 | €3,315 | €173,356 | +€170,041 | +5,129% |
| Total equity and liabilities | 10/49 | €923,107 | €1,158,709 | +€235,602 | +25.5% |
| Equity | 10/15 | €543,145 | €22,560 | -€520,585 | -95.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €524,545 | €3,960 | -€520,585 | -99.2% |
| Distributable reserves | 133 | €524,545 | €3,960 | -€520,585 | -99.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €379,962 | €1,136,149 | +€756,187 | +199% |
| Amounts payable after more than one year | 17 | €170,803 | €155,447 | -€15,356 | -9.0% |
| Financial debts | 170/4 | €170,803 | €155,447 | -€15,356 | -9.0% |
| Amounts payable within one year | 42/48 | €209,159 | €980,321 | +€771,163 | +369% |
| Current portion of amounts payable after more than one year | 42 | €14,999 | €35,356 | +€20,357 | +136% |
| Trade debts | 44 | €2,377 | €400 | -€1,977 | -83.2% |
| Suppliers | 440/4 | €2,377 | €400 | -€1,977 | -83.2% |
| Taxes, remuneration and social security | 45 | €40,648 | €4,972 | -€35,676 | -87.8% |
| Taxes | 450/3 | €37,263 | €2,589 | -€34,674 | -93.1% |
| Remuneration and social security | 454/9 | €3,385 | €2,383 | -€1,002 | -29.6% |
| Other amounts payable | 47/48 | €151,134 | €939,594 | +€788,460 | +522% |
| Accrued charges and deferred income | 492/3 | - | €380 | +€380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,346 | €12,787 | +€441 | +3.6% |
| Other operating charges | 640/8 | €1,206 | €1,079 | -€127 | -10.6% |
| Gross operating margin | 9900 | €301,072 | €294,429 | -€6,643 | -2.2% |
| Operating profit (loss) | 9901 | €287,519 | €280,563 | -€6,956 | -2.4% |
| Financial income | 75/76B | €3,826 | €171,213 | +€167,387 | +4,375% |
| Recurring financial income | 75 | €3,826 | €171,213 | +€167,387 | +4,375% |
| Financial charges | 65/66B | €4,837 | €4,443 | -€393 | -8.1% |
| Recurring financial charges | 65 | €4,837 | €4,443 | -€393 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €286,508 | €447,332 | +€160,824 | +56.1% |
| Income taxes | 67/77 | €67,566 | €67,917 | +€351 | +0.5% |
| Profit (loss) for the period | 9904 | €218,942 | €379,415 | +€160,473 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €218,942 | €379,415 | +€160,473 | +73.3% |
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 15 October 2026 via checked.be.