ADS: 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.
ADS
Largest movements
- Cash +€6,446
up €6,446 (+22.0%), from €29,260 to €35,706
mainly Net result for the year (+€12,931) and Depreciation (+€9,152)
- Tangible fixed assets -€6,221
down €6,221 (-3.6%), from €174,594 to €168,374
of which Land and buildings: -€6,131
- Debts after one year -€13,447
down €13,447 (-9.8%), from €136,597 to €123,150
- Reserves +€11,265
up €11,265 (+56.5%), from €19,930 to €31,195
- Other debts +€8,446
up €8,446 (+73.1%), from €11,556 to €20,002
- Tax, wage and social debts -€4,237
down €4,237 (-41.3%), from €10,271 to €6,034
of which Remuneration and social security: -€4,795
- Gross operating margin +€17,461
up €17,461 (+137.6%), from €12,693 to €30,154
- Taxes +€3,115
new in 2025: €3,115
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 | €212,778 | €213,243 | +€464 | +0.2% |
| Fixed assets | 21/28 | €174,594 | €168,374 | -€6,221 | -3.6% |
| Tangible fixed assets | 22/27 | €174,594 | €168,374 | -€6,221 | -3.6% |
| Land and buildings | 22 | €169,402 | €163,271 | -€6,131 | -3.6% |
| Plant, machinery and equipment | 23 | €3,128 | €4,159 | +€1,032 | +33.0% |
| Furniture and vehicles | 24 | €2,065 | €943 | -€1,121 | -54.3% |
| Current assets | 29/58 | €38,184 | €44,869 | +€6,685 | +17.5% |
| Stocks and contracts in progress | 3 | €35 | €35 | = | 0.0% |
| Stocks | 30/36 | €35 | €35 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,035 | €8,050 | +€15 | +0.2% |
| Trade receivables | 40 | €8,035 | €8,050 | +€15 | +0.2% |
| Cash at bank and in hand | 54/58 | €29,260 | €35,706 | +€6,446 | +22.0% |
| Deferred charges and accrued income | 490/1 | €854 | €1,077 | +€224 | +26.2% |
| Total equity and liabilities | 10/49 | €212,778 | €213,243 | +€464 | +0.2% |
| Equity | 10/15 | €37,785 | €49,050 | +€11,265 | +29.8% |
| Contributions | 10/11 | €17,855 | €17,855 | = | 0.0% |
| Reserves | 13 | €19,930 | €31,195 | +€11,265 | +56.5% |
| Distributable reserves | 133 | €19,930 | €31,195 | +€11,265 | +56.5% |
| Amounts payable | 17/49 | €174,993 | €164,192 | -€10,801 | -6.2% |
| Amounts payable after more than one year | 17 | €136,597 | €123,150 | -€13,447 | -9.8% |
| Financial debts | 170/4 | €136,597 | €123,150 | -€13,447 | -9.8% |
| Amounts payable within one year | 42/48 | €34,615 | €38,439 | +€3,824 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €11,511 | €11,797 | +€286 | +2.5% |
| Trade debts | 44 | €1,277 | €606 | -€671 | -52.6% |
| Suppliers | 440/4 | €1,277 | €606 | -€671 | -52.6% |
| Taxes, remuneration and social security | 45 | €10,271 | €6,034 | -€4,237 | -41.3% |
| Taxes | 450/3 | €5,477 | €6,034 | +€558 | +10.2% |
| Remuneration and social security | 454/9 | €4,795 | - | -€4,795 | |
| Other amounts payable | 47/48 | €11,556 | €20,002 | +€8,446 | +73.1% |
| Accrued charges and deferred income | 492/3 | €3,781 | €2,604 | -€1,178 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,936 | €9,152 | +€216 | +2.4% |
| Other operating charges | 640/8 | €1,353 | €1,383 | +€30 | +2.2% |
| Gross operating margin | 9900 | €12,693 | €30,154 | +€17,461 | +137.6% |
| Operating profit (loss) | 9901 | €2,403 | €19,619 | +€17,215 | +716.4% |
| Financial income | 75/76B | €27 | €10 | -€17 | -62.9% |
| Recurring financial income | 75 | €27 | €10 | -€17 | -62.9% |
| Financial charges | 65/66B | €3,852 | €3,582 | -€270 | -7.0% |
| Recurring financial charges | 65 | €3,852 | €3,582 | -€270 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,422 | €16,047 | +€17,468 | |
| Income taxes | 67/77 | - | €3,115 | +€3,115 | |
| Profit (loss) for the period | 9904 | -€1,422 | €12,931 | +€14,353 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,422 | €12,931 | +€14,353 |
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 30 September 2026 via checked.be.