ADS CONNECTIONS: 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 CONNECTIONS
Largest movements
- Current investments +€39,001
up €39,001 (+63.9%), from €61,029 to €100,030
- Tangible fixed assets -€14,040
down €14,040 (-56.7%), from €24,783 to €10,742
of which Furniture and vehicles: -€13,033
- Cash +€11,290
up €11,290 (+41.8%), from €27,032 to €38,322
mainly Net result for the year (+€36,923) and Depreciation (+€14,040)
- Receivables within one year -€4,804
down €4,804 (-9.6%), from €49,855 to €45,052
of which Trade receivables: -€4,806
- Reserves +€15,195
up €15,195 (+12.1%), from €125,510 to €140,705
- Profit (loss) carried forward +€10,635
up €10,635 (+1,052%), from €1,011 to €11,646
- Other debts +€9,490
up €9,490 (+430%), from €2,205 to €11,695
- Trade debts -€3,046
down €3,046 (-98.9%), from €3,080 to €34
- Gross operating margin -€10,050
down €10,050 (-13.0%), from €77,218 to €67,168
- Depreciation +€7,287
up €7,287 (+108%), from €6,754 to €14,040
- Taxes -€3,145
down €3,145 (-16.5%), from €19,056 to €15,911
- Financial income +€1,866
up €1,866 (+4,355%), from €43 to €1,909
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 | €163,779 | €195,138 | +€31,359 | +19.1% |
| Fixed assets | 21/28 | €25,862 | €11,734 | -€14,128 | -54.6% |
| Tangible fixed assets | 22/27 | €24,783 | €10,742 | -€14,040 | -56.7% |
| Plant, machinery and equipment | 23 | €2,574 | €1,567 | -€1,007 | -39.1% |
| Furniture and vehicles | 24 | €22,209 | €9,175 | -€13,033 | -58.7% |
| Financial fixed assets | 28 | €1,079 | €992 | -€88 | -8.1% |
| Current assets | 29/58 | €137,917 | €183,404 | +€45,487 | +33.0% |
| Amounts receivable within one year | 40/41 | €49,855 | €45,052 | -€4,804 | -9.6% |
| Trade receivables | 40 | €49,855 | €45,050 | -€4,806 | -9.6% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Current investments | 50/53 | €61,029 | €100,030 | +€39,001 | +63.9% |
| Cash at bank and in hand | 54/58 | €27,032 | €38,322 | +€11,290 | +41.8% |
| Deferred charges and accrued income | 490/1 | €1 | €0 | -€1 | -100% |
| Total equity and liabilities | 10/49 | €163,779 | €195,138 | +€31,359 | +19.1% |
| Equity | 10/15 | €145,113 | €170,943 | +€25,830 | +17.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €125,510 | €140,705 | +€15,195 | +12.1% |
| Distributable reserves | 133 | €125,510 | €140,705 | +€15,195 | +12.1% |
| Profit (loss) carried forward | 14 | €1,011 | €11,646 | +€10,635 | +1,052% |
| Amounts payable | 17/49 | €18,666 | €24,195 | +€5,529 | +29.6% |
| Amounts payable within one year | 42/48 | €18,567 | €24,091 | +€5,524 | +29.8% |
| Trade debts | 44 | €3,080 | €34 | -€3,046 | -98.9% |
| Suppliers | 440/4 | €3,080 | €34 | -€3,046 | -98.9% |
| Taxes, remuneration and social security | 45 | €13,282 | €12,362 | -€920 | -6.9% |
| Taxes | 450/3 | €13,282 | €11,862 | -€1,420 | -10.7% |
| Remuneration and social security | 454/9 | €0 | €500 | +€500 | |
| Other amounts payable | 47/48 | €2,205 | €11,695 | +€9,490 | +430% |
| Accrued charges and deferred income | 492/3 | €99 | €104 | +€4 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,754 | €14,040 | +€7,287 | +108% |
| Other operating charges | 640/8 | €1,368 | €1,412 | +€43 | +3.2% |
| Gross operating margin | 9900 | €77,218 | €67,168 | -€10,050 | -13.0% |
| Operating profit (loss) | 9901 | €69,096 | €51,716 | -€17,380 | -25.2% |
| Financial income | 75/76B | €43 | €1,909 | +€1,866 | +4,355% |
| Recurring financial income | 75 | €43 | €1,909 | +€1,866 | +4,355% |
| Financial charges | 65/66B | €607 | €791 | +€184 | +30.3% |
| Recurring financial charges | 65 | €607 | €791 | +€184 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €68,532 | €52,834 | -€15,698 | -22.9% |
| Income taxes | 67/77 | €19,056 | €15,911 | -€3,145 | -16.5% |
| Profit (loss) for the period | 9904 | €49,476 | €36,923 | -€12,553 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,476 | €36,923 | -€12,553 | -25.4% |
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.