AD1040: 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.
AD1040
Largest movements
- Cash +€685,957
up €685,957 (+98.2%), from €698,713 to €1.4m
mainly Net result for the year (+€519,937) and Other debts (+€175,670)
- Tangible fixed assets +€102,264
up €102,264 (+148.5%), from €68,866 to €171,131
of which Plant, machinery and equipment: +€56,048
- Receivables within one year -€100,637
down €100,637 (-90.6%), from €111,132 to €10,495
of which Other amounts receivable: -€98,454
- Receivables after one year +€25,000
new in 2025: €25,000
- Profit (loss) carried forward +€274,180
no longer reported in 2025 (was -€274,180)
- Other debts +€175,670
up €175,670 (+70.3%), from €250,000 to €425,670
- Trade debts +€173,610
up €173,610 (+12.9%), from €1.3m to €1.5m
- Reserves +€95,757
new in 2025: €95,757
- Debts after one year +€50,000
new in 2025: €50,000
- Staff costs -€1.4m
down €1.4m (-37.0%), from €3.8m to €2.4m
- Gross operating margin -€516,716
down €516,716 (-14.6%), from €3.5m to €3.0m
- Taxes +€59,622
up €59,622 (+28414.4%), from €210 to €59,832
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 | €1,723,252 | €2,461,094 | +€737,842 | +42.8% |
| Fixed assets | 21/28 | €68,866 | €171,131 | +€102,264 | +148.5% |
| Tangible fixed assets | 22/27 | €68,866 | €171,131 | +€102,264 | +148.5% |
| Plant, machinery and equipment | 23 | €68,866 | €124,915 | +€56,048 | +81.4% |
| Furniture and vehicles | 24 | - | €4,419 | +€4,419 | |
| Other tangible fixed assets | 26 | - | €41,797 | +€41,797 | |
| Current assets | 29/58 | €1,654,386 | €2,289,963 | +€635,578 | +38.4% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Stocks and contracts in progress | 3 | €841,426 | €856,106 | +€14,681 | +1.7% |
| Stocks | 30/36 | €841,426 | €856,106 | +€14,681 | +1.7% |
| Amounts receivable within one year | 40/41 | €111,132 | €10,495 | -€100,637 | -90.6% |
| Trade receivables | 40 | €2,911 | €728 | -€2,184 | -75.0% |
| Other amounts receivable | 41 | €108,221 | €9,768 | -€98,454 | -91.0% |
| Cash at bank and in hand | 54/58 | €698,713 | €1,384,670 | +€685,957 | +98.2% |
| Deferred charges and accrued income | 490/1 | €3,115 | €13,692 | +€10,577 | +339.6% |
| Total equity and liabilities | 10/49 | €1,723,252 | €2,461,094 | +€737,842 | +42.8% |
| Equity | 10/15 | -€224,180 | €145,757 | +€369,937 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €95,757 | +€95,757 | |
| Distributable reserves | 133 | - | €95,757 | +€95,757 | |
| Profit (loss) carried forward | 14 | -€274,180 | - | +€274,180 | |
| Amounts payable | 17/49 | €1,947,432 | €2,315,336 | +€367,905 | +18.9% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €1,947,432 | €2,265,336 | +€317,905 | +16.3% |
| Trade debts | 44 | €1,344,187 | €1,517,797 | +€173,610 | +12.9% |
| Suppliers | 440/4 | €1,344,187 | €1,517,797 | +€173,610 | +12.9% |
| Taxes, remuneration and social security | 45 | €353,245 | €321,869 | -€31,376 | -8.9% |
| Taxes | 450/3 | €7,996 | €60,042 | +€52,046 | +650.9% |
| Remuneration and social security | 454/9 | €345,249 | €261,828 | -€83,422 | -24.2% |
| Other amounts payable | 47/48 | €250,000 | €425,670 | +€175,670 | +70.3% |
| Remuneration, social security and pensions | 62 | €3,804,834 | €2,397,131 | -€1.4m | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €434 | €11,928 | +€11,495 | +2651.5% |
| Other operating charges | 640/8 | €982 | €1,163 | +€181 | +18.4% |
| Gross operating margin | 9900 | €3,542,339 | €3,025,623 | -€516,716 | -14.6% |
| Operating profit (loss) | 9901 | -€263,910 | €615,401 | +€879,311 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,060 | €35,632 | +€25,572 | +254.2% |
| Recurring financial charges | 65 | €10,060 | €35,632 | +€25,572 | +254.2% |
| Profit (loss) for the period before taxes | 9903 | -€273,970 | €579,769 | +€853,739 | |
| Income taxes | 67/77 | €210 | €59,832 | +€59,622 | +28414.4% |
| Profit (loss) for the period | 9904 | -€274,180 | €519,937 | +€794,117 | |
| Profit (loss) for the period to be appropriated | 9905 | -€274,180 | €519,937 | +€794,117 |
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 8 October 2026 via checked.be.