AD2 FACTORY: 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.
AD2 FACTORY
Largest movements
- Current investments +€216,123
new in 2025: €216,123
- Financial fixed assets -€84,400
down €84,400 (-100%), from €84,400 to €0
- Cash -€66,561
down €66,561 (-83.9%), from €79,314 to €12,753
mainly Current investments (-€216,123) and Contributions, distributions and other (-€41,561)
- Receivables within one year -€25,966
down €25,966 (-25.7%), from €100,957 to €74,991
of which Trade receivables: -€27,114
- Tangible fixed assets +€7,183
up €7,183 (+129%), from €5,582 to €12,766
of which Furniture and vehicles: +€7,930
- Other debts +€39,482
new in 2025: €39,482
- Tax, wage and social debts +€13,494
up €13,494 (+1,028%), from €1,313 to €14,806
of which Taxes: +€13,494
- Reserves -€13,187
down €13,187 (-4.8%), from €272,644 to €259,457
of which Distributable reserves: -€13,187
- Profit (loss) carried forward +€6,421
up €6,421, from -€6,421 to €0
- Gross operating margin -€34,329
down €34,329 (-41.4%), from €82,905 to €48,576
- Taxes -€8,818
down €8,818 (-35.7%), from €24,684 to €15,866
- Financial income +€3,389
up €3,389 (+131%), from €2,578 to €5,967
- Depreciation +€919
up €919 (+123%), from €746 to €1,665
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 | €272,037 | €316,633 | +€44,596 | +16.4% |
| Fixed assets | 21/28 | €89,982 | €12,766 | -€77,217 | -85.8% |
| Tangible fixed assets | 22/27 | €5,582 | €12,766 | +€7,183 | +129% |
| Land and buildings | 22 | €5,582 | €4,836 | -€746 | -13.4% |
| Furniture and vehicles | 24 | - | €7,930 | +€7,930 | |
| Financial fixed assets | 28 | €84,400 | €0 | -€84,400 | -100% |
| Current assets | 29/58 | €182,055 | €303,867 | +€121,812 | +66.9% |
| Amounts receivable within one year | 40/41 | €100,957 | €74,991 | -€25,966 | -25.7% |
| Trade receivables | 40 | €27,452 | €339 | -€27,114 | -98.8% |
| Other amounts receivable | 41 | €73,504 | €74,652 | +€1,148 | +1.6% |
| Current investments | 50/53 | - | €216,123 | +€216,123 | |
| Cash at bank and in hand | 54/58 | €79,314 | €12,753 | -€66,561 | -83.9% |
| Deferred charges and accrued income | 490/1 | €1,785 | €0 | -€1,785 | -100% |
| Total equity and liabilities | 10/49 | €272,037 | €316,633 | +€44,596 | +16.4% |
| Equity | 10/15 | €267,223 | €260,457 | -€6,766 | -2.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €272,644 | €259,457 | -€13,187 | -4.8% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €272,544 | €259,357 | -€13,187 | -4.8% |
| Profit (loss) carried forward | 14 | -€6,421 | €0 | +€6,421 | |
| Amounts payable | 17/49 | €4,814 | €56,176 | +€51,362 | +1,067% |
| Amounts payable within one year | 42/48 | €4,350 | €55,731 | +€51,381 | +1,181% |
| Financial debts | 43 | €150 | €70 | -€80 | -53.5% |
| Credit institutions | 430/8 | €150 | €70 | -€80 | -53.5% |
| Trade debts | 44 | €2,887 | €1,373 | -€1,514 | -52.4% |
| Suppliers | 440/4 | €2,887 | €1,373 | -€1,514 | -52.4% |
| Taxes, remuneration and social security | 45 | €1,313 | €14,806 | +€13,494 | +1,028% |
| Taxes | 450/3 | €1,313 | €14,806 | +€13,494 | +1,028% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €39,482 | +€39,482 | |
| Accrued charges and deferred income | 492/3 | €464 | €445 | -€19 | -4.2% |
| Non-recurring operating income | 76A | - | €1,050 | +€1,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €746 | €1,665 | +€919 | +123% |
| Other operating charges | 640/8 | €1,608 | €1,060 | -€548 | -34.1% |
| Gross operating margin | 9900 | €82,905 | €48,576 | -€34,329 | -41.4% |
| Operating profit (loss) | 9901 | €80,551 | €45,852 | -€34,699 | -43.1% |
| Financial income | 75/76B | €2,578 | €5,967 | +€3,389 | +131% |
| Recurring financial income | 75 | €2,578 | €5,967 | +€3,389 | +131% |
| Financial charges | 65/66B | €442 | €1,159 | +€717 | +162% |
| Recurring financial charges | 65 | €442 | €1,159 | +€717 | +162% |
| Profit (loss) for the period before taxes | 9903 | €82,687 | €50,660 | -€32,027 | -38.7% |
| Income taxes | 67/77 | €24,684 | €15,866 | -€8,818 | -35.7% |
| Profit (loss) for the period | 9904 | €58,003 | €34,794 | -€23,209 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,003 | €34,794 | -€23,209 | -40.0% |
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 28 October 2026 via checked.be.