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
- Tangible fixed assets +€34,892
up €34,892 (+7020.4%), from €497 to €35,389
- Cash -€16,010
down €16,010 (-82.6%), from €19,379 to €3,368
mainly Investment in fixed assets (net) (-€41,562) and Deferred charges and accrued income (-€7,312)
- Deferred charges and accrued income +€7,312
up €7,312 (+927.1%), from €789 to €8,101
- Receivables within one year -€2,030
down €2,030 (-37.3%), from €5,444 to €3,414
of which Other amounts receivable: -€1,703
- Debts after one year +€20,713
new in 2025: €20,713
- Current portion of long-term debt +€5,712
new in 2025: €5,712
- Trade debts +€4,747
up €4,747 (+83.1%), from €5,709 to €10,457
- Profit (loss) carried forward -€3,448
down €3,448 (-10.9%), from -€31,730 to -€35,178
- Advances received -€2,700
no longer reported in 2025 (was €2,700)
- Gross operating margin +€13,640
up €13,640, from -€6,925 to €6,714
- Depreciation +€6,099
up €6,099 (+1069.1%), from €570 to €6,670
- Other operating charges +€1,158
up €1,158 (+133.3%), from €869 to €2,027
- Financial charges +€872
up €872 (+146.8%), from €594 to €1,466
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 | €26,133 | €50,298 | +€24,164 | +92.5% |
| Fixed assets | 21/28 | €522 | €35,414 | +€34,892 | +6684.2% |
| Tangible fixed assets | 22/27 | €497 | €35,389 | +€34,892 | +7020.4% |
| Furniture and vehicles | 24 | €497 | €35,389 | +€34,892 | +7020.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €25,611 | €14,884 | -€10,728 | -41.9% |
| Amounts receivable within one year | 40/41 | €5,444 | €3,414 | -€2,030 | -37.3% |
| Trade receivables | 40 | €3,463 | €3,136 | -€327 | -9.4% |
| Other amounts receivable | 41 | €1,981 | €278 | -€1,703 | -86.0% |
| Cash at bank and in hand | 54/58 | €19,379 | €3,368 | -€16,010 | -82.6% |
| Deferred charges and accrued income | 490/1 | €789 | €8,101 | +€7,312 | +927.1% |
| Total equity and liabilities | 10/49 | €26,133 | €50,298 | +€24,164 | +92.5% |
| Equity | 10/15 | -€11,880 | -€15,328 | -€3,448 | -29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,250 | €1,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | - | -€1,250 | |
| Other | 1319 | - | €1,250 | +€1,250 | |
| Profit (loss) carried forward | 14 | -€31,730 | -€35,178 | -€3,448 | -10.9% |
| Amounts payable | 17/49 | €38,013 | €65,626 | +€27,613 | +72.6% |
| Amounts payable after more than one year | 17 | - | €20,713 | +€20,713 | |
| Financial debts | 170/4 | - | €20,713 | +€20,713 | |
| Amounts payable within one year | 42/48 | €38,013 | €44,913 | +€6,900 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,712 | +€5,712 | |
| Trade debts | 44 | €5,709 | €10,457 | +€4,747 | +83.1% |
| Suppliers | 440/4 | €5,709 | €10,457 | +€4,747 | +83.1% |
| Advances received on contracts in progress | 46 | €2,700 | - | -€2,700 | |
| Taxes, remuneration and social security | 45 | €7,258 | €5,032 | -€2,226 | -30.7% |
| Taxes | 450/3 | €7,258 | €5,032 | -€2,226 | -30.7% |
| Other amounts payable | 47/48 | €22,346 | €23,712 | +€1,367 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570 | €6,670 | +€6,099 | +1069.1% |
| Other operating charges | 640/8 | €869 | €2,027 | +€1,158 | +133.3% |
| Gross operating margin | 9900 | -€6,925 | €6,714 | +€13,640 | |
| Operating profit (loss) | 9901 | -€8,365 | -€1,982 | +€6,382 | +76.3% |
| Financial charges | 65/66B | €594 | €1,466 | +€872 | +146.8% |
| Recurring financial charges | 65 | €594 | €1,466 | +€872 | +146.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,959 | -€3,448 | +€5,510 | +61.5% |
| Profit (loss) for the period | 9904 | -€8,959 | -€3,448 | +€5,510 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,959 | -€3,448 | +€5,510 | +61.5% |
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 28 September 2026 via checked.be.