ADS BELGIUM: 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.
ADS BELGIUM
Largest movements
- Stocks and contracts +€40,000
up €40,000 (+88.9%), from €45,000 to €85,000
- Financial fixed assets -€6,500
down €6,500 (-65.0%), from €10,000 to €3,500
- Receivables within one year -€5,400
down €5,400 (-49.5%), from €10,903 to €5,504
of which Other amounts receivable: -€5,400
- Other debts +€112,624
up €112,624 (+65.5%), from €171,853 to €284,477
- Profit (loss) carried forward -€62,789
down €62,789 (-47.6%), from -€131,958 to -€194,747
- Trade debts -€21,751
down €21,751 (-92.2%), from €23,595 to €1,844
- Gross operating margin +€3,902
up €3,902 (+6.0%), from -€65,396 to -€61,494
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 | €65,990 | €94,073 | +€28,083 | +42.6% |
| Fixed assets | 21/28 | €10,000 | €3,500 | -€6,500 | -65.0% |
| Financial fixed assets | 28 | €10,000 | €3,500 | -€6,500 | -65.0% |
| Current assets | 29/58 | €55,990 | €90,573 | +€34,583 | +61.8% |
| Stocks and contracts in progress | 3 | €45,000 | €85,000 | +€40,000 | +88.9% |
| Stocks | 30/36 | €45,000 | €85,000 | +€40,000 | +88.9% |
| Amounts receivable within one year | 40/41 | €10,903 | €5,504 | -€5,400 | -49.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,903 | €5,504 | -€5,400 | -49.5% |
| Cash at bank and in hand | 54/58 | €86 | €69 | -€17 | -19.6% |
| Total equity and liabilities | 10/49 | €65,990 | €94,073 | +€28,083 | +42.6% |
| Equity | 10/15 | -€129,458 | -€192,247 | -€62,789 | -48.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€131,958 | -€194,747 | -€62,789 | -47.6% |
| Amounts payable | 17/49 | €195,448 | €286,320 | +€90,872 | +46.5% |
| Amounts payable within one year | 42/48 | €195,448 | €286,320 | +€90,872 | +46.5% |
| Trade debts | 44 | €23,595 | €1,844 | -€21,751 | -92.2% |
| Suppliers | 440/4 | €23,595 | €1,844 | -€21,751 | -92.2% |
| Other amounts payable | 47/48 | €171,853 | €284,477 | +€112,624 | +65.5% |
| Other operating charges | 640/8 | €542 | €1,053 | +€511 | +94.3% |
| Gross operating margin | 9900 | -€65,396 | -€61,494 | +€3,902 | +6.0% |
| Operating profit (loss) | 9901 | -€65,938 | -€62,547 | +€3,391 | +5.1% |
| Financial charges | 65/66B | €554 | €242 | -€312 | -56.3% |
| Recurring financial charges | 65 | €554 | €242 | -€312 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | -€66,492 | -€62,789 | +€3,703 | +5.6% |
| Profit (loss) for the period | 9904 | -€66,492 | -€62,789 | +€3,703 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,492 | -€62,789 | +€3,703 | +5.6% |
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 16 October 2026 via checked.be.