ADFive: 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.
ADFive
Largest movements
- Stocks and contracts +€32,103
up €32,103 (+14.4%), from €223,420 to €255,523
- Cash -€14,120
down €14,120 (-64.8%), from €21,804 to €7,684
mainly Stocks and contracts (-€32,103) and Net result for the year (-€6,666)
- Current portion of long-term debt +€12,369
up €12,369 (+9.0%), from €137,631 to €150,000
- Other debts +€10,369
up €10,369 (+11.5%), from €90,047 to €100,416
- Profit (loss) carried forward -€6,666
down €6,666 (-55.7%), from €11,970 to €5,304
- Gross operating margin +€22,273
up €22,273, from -€19,193 to €3,080
- Financial charges -€1,715
down €1,715 (-19.7%), from €8,683 to €6,968
- Other operating charges -€1,638
down €1,638 (-53.1%), from €3,082 to €1,444
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 | €251,972 | €269,038 | +€17,066 | +6.8% |
| Fixed assets | 21/28 | €2,459 | €1,126 | -€1,333 | -54.2% |
| Intangible fixed assets | 21 | €345 | €167 | -€178 | -51.6% |
| Tangible fixed assets | 22/27 | €2,114 | €959 | -€1,155 | -54.6% |
| Plant, machinery and equipment | 23 | €764 | €527 | -€237 | -31.0% |
| Furniture and vehicles | 24 | €1,350 | €432 | -€918 | -68.0% |
| Current assets | 29/58 | €249,513 | €267,912 | +€18,399 | +7.4% |
| Stocks and contracts in progress | 3 | €223,420 | €255,523 | +€32,103 | +14.4% |
| Stocks | 30/36 | €223,420 | €255,523 | +€32,103 | +14.4% |
| Amounts receivable within one year | 40/41 | €4,000 | €3,630 | -€370 | -9.3% |
| Trade receivables | 40 | - | €3,630 | +€3,630 | |
| Other amounts receivable | 41 | €4,000 | - | -€4,000 | |
| Cash at bank and in hand | 54/58 | €21,804 | €7,684 | -€14,120 | -64.8% |
| Deferred charges and accrued income | 490/1 | €289 | €1,075 | +€786 | +272.3% |
| Total equity and liabilities | 10/49 | €251,972 | €269,038 | +€17,066 | +6.8% |
| Equity | 10/15 | €16,970 | €10,304 | -€6,666 | -39.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,970 | €5,304 | -€6,666 | -55.7% |
| Amounts payable | 17/49 | €235,003 | €258,734 | +€23,731 | +10.1% |
| Amounts payable within one year | 42/48 | €235,003 | €258,734 | +€23,731 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €137,631 | €150,000 | +€12,369 | +9.0% |
| Trade debts | 44 | €2,176 | €1,725 | -€451 | -20.7% |
| Suppliers | 440/4 | €2,176 | €1,725 | -€451 | -20.7% |
| Taxes, remuneration and social security | 45 | €5,148 | €6,592 | +€1,444 | +28.1% |
| Taxes | 450/3 | €5,148 | €6,592 | +€1,444 | +28.1% |
| Other amounts payable | 47/48 | €90,047 | €100,416 | +€10,369 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,379 | €1,333 | -€46 | -3.3% |
| Other operating charges | 640/8 | €3,082 | €1,444 | -€1,638 | -53.1% |
| Gross operating margin | 9900 | -€19,193 | €3,080 | +€22,273 | |
| Operating profit (loss) | 9901 | -€23,654 | €303 | +€23,956 | |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €8,683 | €6,968 | -€1,715 | -19.7% |
| Recurring financial charges | 65 | €8,683 | €6,968 | -€1,715 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | -€32,320 | -€6,666 | +€25,654 | +79.4% |
| Income taxes | 67/77 | -€7 | - | +€7 | |
| Profit (loss) for the period | 9904 | -€32,313 | -€6,666 | +€25,647 | +79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,313 | -€6,666 | +€25,647 | +79.4% |
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 12 October 2026 via checked.be.