AD2REM: 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.
AD2REM
Largest movements
- Cash -€5,802
down €5,802 (-41.7%), from €13,898 to €8,096
mainly Net result for the year (-€6,014) and Trade debts (-€5,203)
- Intangible fixed assets -€1,540
down €1,540 (-48.3%), from €3,191 to €1,651
- Receivables within one year -€254
down €254 (-16.1%), from €1,573 to €1,320
of which Other amounts receivable: -€254
- Tangible fixed assets -€225
down €225 (-43.4%), from €519 to €294
- Profit (loss) carried forward -€6,014
down €6,014 (-4.4%), from -€136,794 to -€142,808
- Trade debts -€5,203
down €5,203 (-96.8%), from €5,374 to €171
- Other debts +€3,721
up €3,721 (+2.7%), from €135,402 to €139,124
- Tax, wage and social debts -€325
down €325 (-100.0%), from €325 to €0
- Gross operating margin -€5,589
down €5,589, from €1,589 to -€4,000
- Other operating charges +€513
up €513, from €0 to €513
- Financial charges -€360
down €360, from €106 to -€253
- Depreciation -€219
down €219 (-11.0%), from €1,984 to €1,765
- Taxes -€141
down €141, from €129 to -€11
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 | €19,181 | €11,360 | -€7,821 | -40.8% |
| Fixed assets | 21/28 | €3,710 | €1,944 | -€1,765 | -47.6% |
| Intangible fixed assets | 21 | €3,191 | €1,651 | -€1,540 | -48.3% |
| Tangible fixed assets | 22/27 | €519 | €294 | -€225 | -43.4% |
| Plant, machinery and equipment | 23 | €519 | €294 | -€225 | -43.4% |
| Current assets | 29/58 | €15,471 | €9,415 | -€6,056 | -39.1% |
| Amounts receivable within one year | 40/41 | €1,573 | €1,320 | -€254 | -16.1% |
| Trade receivables | 40 | €1,210 | €1,210 | = | 0.0% |
| Other amounts receivable | 41 | €363 | €110 | -€254 | -69.8% |
| Cash at bank and in hand | 54/58 | €13,898 | €8,096 | -€5,802 | -41.7% |
| Total equity and liabilities | 10/49 | €19,181 | €11,360 | -€7,821 | -40.8% |
| Equity | 10/15 | -€121,920 | -€127,935 | -€6,014 | -4.9% |
| Contributions | 10/11 | €14,874 | €14,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,794 | -€142,808 | -€6,014 | -4.4% |
| Amounts payable | 17/49 | €141,101 | €139,294 | -€1,807 | -1.3% |
| Amounts payable within one year | 42/48 | €141,101 | €139,294 | -€1,807 | -1.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,374 | €171 | -€5,203 | -96.8% |
| Suppliers | 440/4 | €5,374 | €171 | -€5,203 | -96.8% |
| Taxes, remuneration and social security | 45 | €325 | €0 | -€325 | -100.0% |
| Taxes | 450/3 | €325 | €0 | -€325 | -100.0% |
| Other amounts payable | 47/48 | €135,402 | €139,124 | +€3,721 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,984 | €1,765 | -€219 | -11.0% |
| Other operating charges | 640/8 | €0 | €513 | +€513 | |
| Gross operating margin | 9900 | €1,589 | -€4,000 | -€5,589 | |
| Operating profit (loss) | 9901 | -€395 | -€6,279 | -€5,883 | -1488.2% |
| Financial charges | 65/66B | €106 | -€253 | -€360 | |
| Recurring financial charges | 65 | €106 | -€253 | -€360 | |
| Profit (loss) for the period before taxes | 9903 | -€502 | -€6,025 | -€5,524 | -1100.8% |
| Income taxes | 67/77 | €129 | -€11 | -€141 | |
| Profit (loss) for the period | 9904 | -€631 | -€6,014 | -€5,383 | -852.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€631 | -€6,014 | -€5,383 | -852.8% |
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 3 October 2026 via checked.be.