Ad XL: 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 XL
Largest movements
- Receivables within one year +€12,574
up €12,574 (+9.8%), from €128,831 to €141,405
of which Trade receivables: +€115,424
- Cash -€8,242
down €8,242 (-43.0%), from €19,164 to €10,921
mainly Other debts (-€86,453) and Net result for the year (-€28,705)
- Tangible fixed assets -€3,835
down €3,835 (-4.1%), from €93,299 to €89,464
of which Other tangible fixed assets: -€10,182
- Stocks and contracts -€3,656
down €3,656 (-24.4%), from €15,000 to €11,344
- Debts after one year +€90,453
new in 2024: €90,453
of which Other amounts payable: +€75,334
- Other debts -€86,453
down €86,453 (-59.6%), from €144,992 to €58,538
- Profit (loss) carried forward -€28,705
down €28,705 (-21.1%), from -€135,976 to -€164,680
- Tax, wage and social debts +€24,910
up €24,910 (+31.5%), from €78,988 to €103,897
of which Remuneration and social security: +€50,122
- Gross operating margin +€142,061
up €142,061 (+93.8%), from €151,412 to €293,473
- Staff costs +€118,602
up €118,602 (+66.9%), from €177,339 to €295,941
- Other operating charges -€4,310
down €4,310 (-63.5%), from €6,784 to €2,474
- Financial charges +€3,668
up €3,668 (+45.6%), from €8,036 to €11,704
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €257,591 | €256,589 | -€1,002 | -0.4% |
| Formation expenses | 20 | €1,297 | €991 | -€306 | -23.6% |
| Fixed assets | 21/28 | €93,299 | €89,464 | -€3,835 | -4.1% |
| Tangible fixed assets | 22/27 | €93,299 | €89,464 | -€3,835 | -4.1% |
| Plant, machinery and equipment | 23 | €3,408 | €8,075 | +€4,667 | +137% |
| Furniture and vehicles | 24 | - | €1,679 | +€1,679 | |
| Other tangible fixed assets | 26 | €89,891 | €79,709 | -€10,182 | -11.3% |
| Current assets | 29/58 | €162,995 | €166,135 | +€3,140 | +1.9% |
| Stocks and contracts in progress | 3 | €15,000 | €11,344 | -€3,656 | -24.4% |
| Stocks | 30/36 | €15,000 | €11,344 | -€3,656 | -24.4% |
| Amounts receivable within one year | 40/41 | €128,831 | €141,405 | +€12,574 | +9.8% |
| Trade receivables | 40 | €8,186 | €123,610 | +€115,424 | +1,410% |
| Other amounts receivable | 41 | €120,645 | €17,795 | -€102,850 | -85.3% |
| Cash at bank and in hand | 54/58 | €19,164 | €10,921 | -€8,242 | -43.0% |
| Deferred charges and accrued income | 490/1 | - | €2,465 | +€2,465 | |
| Total equity and liabilities | 10/49 | €257,591 | €256,589 | -€1,002 | -0.4% |
| Equity | 10/15 | -€130,976 | -€159,680 | -€28,705 | -21.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,976 | -€164,680 | -€28,705 | -21.1% |
| Amounts payable | 17/49 | €388,566 | €416,269 | +€27,703 | +7.1% |
| Amounts payable after more than one year | 17 | - | €90,453 | +€90,453 | |
| Financial debts | 170/4 | - | €15,120 | +€15,120 | |
| Other amounts payable | 178/9 | - | €75,334 | +€75,334 | |
| Amounts payable within one year | 42/48 | €386,966 | €325,816 | -€61,150 | -15.8% |
| Financial debts | 43 | €16,465 | €16,465 | = | 0.0% |
| Credit institutions | 430/8 | €16,465 | €16,465 | = | 0.0% |
| Trade debts | 44 | €146,522 | €146,915 | +€393 | +0.3% |
| Suppliers | 440/4 | €146,522 | €146,915 | +€393 | +0.3% |
| Taxes, remuneration and social security | 45 | €78,988 | €103,897 | +€24,910 | +31.5% |
| Taxes | 450/3 | €50,848 | €25,635 | -€25,212 | -49.6% |
| Remuneration and social security | 454/9 | €28,140 | €78,262 | +€50,122 | +178% |
| Other amounts payable | 47/48 | €144,992 | €58,538 | -€86,453 | -59.6% |
| Accrued charges and deferred income | 492/3 | €1,600 | - | -€1,600 | |
| Remuneration, social security and pensions | 62 | €177,339 | €295,941 | +€118,602 | +66.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,234 | €12,058 | +€2,823 | +30.6% |
| Other operating charges | 640/8 | €6,784 | €2,474 | -€4,310 | -63.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €151,412 | €293,473 | +€142,061 | +93.8% |
| Operating profit (loss) | 9901 | -€41,946 | -€17,000 | +€24,946 | +59.5% |
| Financial income | 75/76B | €84 | - | -€84 | |
| Recurring financial income | 75 | €84 | - | -€84 | |
| Financial charges | 65/66B | €8,036 | €11,704 | +€3,668 | +45.6% |
| Recurring financial charges | 65 | €8,036 | €11,704 | +€3,668 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | -€49,898 | -€28,705 | +€21,193 | +42.5% |
| Profit (loss) for the period | 9904 | -€49,898 | -€28,705 | +€21,193 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,898 | -€28,705 | +€21,193 | +42.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.