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 -€10,232
down €10,232 (-93.0%), from €10,999 to €767
mainly Other debts (-€22,063) and Trade debts (-€5,413)
- Receivables within one year -€5,705
down €5,705 (-72.9%), from €7,831 to €2,126
of which Trade receivables: -€5,632
- Tangible fixed assets +€717
up €717 (+30.9%), from €2,319 to €3,036
of which Furniture and vehicles: +€717
- Deferred charges and accrued income -€350
down €350 (-62.5%), from €560 to €210
- Other debts -€22,063
down €22,063 (-45.3%), from €48,750 to €26,687
- Profit (loss) carried forward +€21,497
up €21,497 (+13.8%), from -€155,986 to -€134,488
- Trade debts -€5,413
down €5,413 (-92.2%), from €5,873 to €460
- Tax, wage and social debts -€4,586
down €4,586 (-79.8%), from €5,748 to €1,162
- Debts after one year -€3,636
down €3,636 (-4.0%), from €91,643 to €88,006
- Gross operating margin -€16,172
down €16,172 (-32.2%), from €50,193 to €34,022
- Financial charges -€3,120
down €3,120 (-33.6%), from €9,290 to €6,170
- Other operating charges +€2,966
up €2,966 (+325.5%), from €911 to €3,878
- Financial income -€1,062
down €1,062 (-100.0%), from €1,062 to €0
- Depreciation +€530
up €530 (+27.2%), from €1,947 to €2,477
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 | €21,709 | €6,139 | -€15,569 | -71.7% |
| Fixed assets | 21/28 | €2,319 | €3,036 | +€717 | +30.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,319 | €3,036 | +€717 | +30.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | -€0 | -100.0% |
| Furniture and vehicles | 24 | €2,319 | €3,036 | +€717 | +30.9% |
| Current assets | 29/58 | €19,390 | €3,103 | -€16,287 | -84.0% |
| Amounts receivable within one year | 40/41 | €7,831 | €2,126 | -€5,705 | -72.9% |
| Trade receivables | 40 | €7,009 | €1,377 | -€5,632 | -80.4% |
| Other amounts receivable | 41 | €822 | €749 | -€73 | -8.9% |
| Cash at bank and in hand | 54/58 | €10,999 | €767 | -€10,232 | -93.0% |
| Deferred charges and accrued income | 490/1 | €560 | €210 | -€350 | -62.5% |
| Total equity and liabilities | 10/49 | €21,709 | €6,139 | -€15,569 | -71.7% |
| Equity | 10/15 | -€135,388 | -€113,891 | +€21,497 | +15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,397 | €14,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,106 | €1,106 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,106 | €1,106 | = | 0.0% |
| Distributable reserves | 133 | €13,291 | €13,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,986 | -€134,488 | +€21,497 | +13.8% |
| Amounts payable | 17/49 | €157,097 | €120,031 | -€37,066 | -23.6% |
| Amounts payable after more than one year | 17 | €91,643 | €88,006 | -€3,636 | -4.0% |
| Financial debts | 170/4 | €91,643 | €88,006 | -€3,636 | -4.0% |
| Amounts payable within one year | 42/48 | €65,455 | €32,025 | -€33,430 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €5,084 | €3,715 | -€1,369 | -26.9% |
| Trade debts | 44 | €5,873 | €460 | -€5,413 | -92.2% |
| Suppliers | 440/4 | €5,873 | €460 | -€5,413 | -92.2% |
| Taxes, remuneration and social security | 45 | €5,748 | €1,162 | -€4,586 | -79.8% |
| Taxes | 450/3 | €5,748 | €1,162 | -€4,586 | -79.8% |
| Other amounts payable | 47/48 | €48,750 | €26,687 | -€22,063 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,947 | €2,477 | +€530 | +27.2% |
| Other operating charges | 640/8 | €911 | €3,878 | +€2,966 | +325.5% |
| Non-recurring operating charges | 66A | €152,997 | €0 | -€152,997 | -100.0% |
| Gross operating margin | 9900 | €50,193 | €34,022 | -€16,172 | -32.2% |
| Operating profit (loss) | 9901 | -€105,662 | €27,667 | +€133,329 | |
| Financial income | 75/76B | €1,062 | €0 | -€1,062 | -100.0% |
| Recurring financial income | 75 | €1,062 | €0 | -€1,062 | -100.0% |
| Financial charges | 65/66B | €9,290 | €6,170 | -€3,120 | -33.6% |
| Recurring financial charges | 65 | €9,290 | €6,170 | -€3,120 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€113,891 | €21,497 | +€135,388 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€113,891 | €21,497 | +€135,388 | |
| Profit (loss) for the period to be appropriated | 9905 | -€113,891 | €21,497 | +€135,388 |
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 5 October 2026 via checked.be.