ADH EDITIONS: 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.
ADH EDITIONS
Largest movements
- Stocks and contracts -€13,888
down €13,888 (-81.9%), from €16,950 to €3,062
- Cash -€8,090
down €8,090 (-92.0%), from €8,791 to €701
mainly Net result for the year (-€16,381) and Other debts (-€5,152)
- Receivables within one year -€2,413
down €2,413 (-16.8%), from €14,330 to €11,917
of which Trade receivables: -€3,280
- Profit (loss) carried forward -€16,381
down €16,381, from €9,575 to -€6,807
- Other debts -€5,152
down €5,152 (-27.7%), from €18,598 to €13,446
- Trade debts -€3,209
down €3,209 (-60.5%), from €5,300 to €2,092
- Gross operating margin -€22,229
down €22,229, from €15,715 to -€6,514
- Write-downs -€8,000
down €8,000 (-61.5%), from €13,009 to €5,009
- Other operating charges +€2,476
up €2,476 (+133%), from €1,859 to €4,335
- Depreciation -€456
down €456 (-53.9%), from €846 to €390
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 | €40,491 | €15,710 | -€24,781 | -61.2% |
| Fixed assets | 21/28 | €420 | €30 | -€390 | -92.8% |
| Intangible fixed assets | 21 | €292 | - | -€292 | |
| Tangible fixed assets | 22/27 | €129 | €30 | -€98 | -76.4% |
| Furniture and vehicles | 24 | €129 | €30 | -€98 | -76.4% |
| Current assets | 29/58 | €40,071 | €15,680 | -€24,391 | -60.9% |
| Stocks and contracts in progress | 3 | €16,950 | €3,062 | -€13,888 | -81.9% |
| Stocks | 30/36 | €16,950 | €3,062 | -€13,888 | -81.9% |
| Amounts receivable within one year | 40/41 | €14,330 | €11,917 | -€2,413 | -16.8% |
| Trade receivables | 40 | €13,377 | €10,097 | -€3,280 | -24.5% |
| Other amounts receivable | 41 | €953 | €1,820 | +€867 | +91.0% |
| Cash at bank and in hand | 54/58 | €8,791 | €701 | -€8,090 | -92.0% |
| Total equity and liabilities | 10/49 | €40,491 | €15,710 | -€24,781 | -61.2% |
| Equity | 10/15 | €16,395 | €13 | -€16,381 | -99.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,575 | -€6,807 | -€16,381 | |
| Amounts payable | 17/49 | €24,097 | €15,697 | -€8,399 | -34.9% |
| Amounts payable within one year | 42/48 | €24,097 | €15,697 | -€8,399 | -34.9% |
| Trade debts | 44 | €5,300 | €2,092 | -€3,209 | -60.5% |
| Suppliers | 440/4 | €5,300 | €2,092 | -€3,209 | -60.5% |
| Taxes, remuneration and social security | 45 | €198 | €160 | -€39 | -19.5% |
| Taxes | 450/3 | €198 | €160 | -€39 | -19.5% |
| Other amounts payable | 47/48 | €18,598 | €13,446 | -€5,152 | -27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €846 | €390 | -€456 | -53.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,009 | €5,009 | -€8,000 | -61.5% |
| Other operating charges | 640/8 | €1,859 | €4,335 | +€2,476 | +133% |
| Gross operating margin | 9900 | €15,715 | -€6,514 | -€22,229 | |
| Operating profit (loss) | 9901 | €1 | -€16,248 | -€16,249 | |
| Financial charges | 65/66B | €242 | €134 | -€108 | -44.8% |
| Recurring financial charges | 65 | €242 | €134 | -€108 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | -€241 | -€16,381 | -€16,140 | -6,697% |
| Profit (loss) for the period | 9904 | -€241 | -€16,381 | -€16,140 | -6,697% |
| Profit (loss) for the period to be appropriated | 9905 | -€241 | -€16,381 | -€16,140 | -6,697% |
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 14 October 2026 via checked.be.