ads group: 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.
What changed
ads group
NACE 46.341, Wholesale of wines and spirits
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,336
2024 · €4,038+€7,299
Equity
€1.8m
2024 · €2.3m-€528,853
Cash
€40,465
2024 · €49,690-€9,224
Balance sheet total
€7.6m
2024 · €9.0m-€1.4m
Largest movements
Assets
- Receivables within one year -€708,832
down €708,832 (-15.6%), from €4.5m to €3.8m
of which Trade receivables: -€682,153
- Stocks and contracts -€437,690
down €437,690 (-10.6%), from €4.1m to €3.7m
- Tangible fixed assets -€247,574
down €247,574 (-98.1%), from €252,412 to €4,838
of which Land and buildings: -€202,421
Equity and liabilities
- Short-term financial debts -€1.3m
down €1.3m (-47.5%), from €2.8m to €1.4m
- Trade debts +€713,599
up €713,599 (+23.6%), from €3.0m to €3.7m
- Profit (loss) carried forward -€502,453
down €502,453 (-23.0%), from €2.2m to €1.7m
- Debts after one year -€187,500
no longer reported in 2025 (was €187,500)
Income statement
- Turnover -€20.5m
down €20.5m (-38.4%), from €53.4m to €32.9m
- Goods and materials -€19.4m
down €19.4m (-38.4%), from €50.6m to €31.2m
of which Purchases: -€18.8m
- Services and other goods -€577,450
down €577,450 (-40.0%), from €1.4m to €867,522
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.
Result 2024
€4,038
Turnover
-€20.5m
Other operating income
-€127,497
Goods and materials
+€19.4m
Services and other goods
+€577,450
Staff costs
+€351,579
Depreciation
+€37,369
Write-downs
+€63,681
Other operating charges
-€7,396
Other operating items
+€86
Financial income
+€144
Financial charges
+€211,078
Taxes
-€8,718
Result 2025
€11,336
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.9m
Investment
+€223,055
Financing
-€2.1m
Cash 2024
€49,690
From operations (derived)
+€1.9m
Net result for the year
+€11,336
Depreciation
+€24,410
Stocks and contracts
+€437,690
Receivables within one year
+€708,832
Deferred charges and accrued income
+€5,139
Trade debts
+€713,599
Tax, wage and social debts
-€68,504
Other debts
+€43,322
Accrued charges and deferred income
-€6,031
Investment (derived)
+€223,055
Investment in fixed assets (net)
+€223,055
Financing
-€2.1m
Debts after one year
-€187,500
Current portion of long-term debt
-€62,500
Short-term financial debts
-€1.3m
Contributions, distributions and other
-€540,189
Cash 2025
€40,465
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,984,384 | €7,576,033 | -€1.4m | -15.7% |
| Fixed assets | 21/28 | €252,412 | €4,947 | -€247,465 | -98.0% |
| Tangible fixed assets | 22/27 | €252,412 | €4,838 | -€247,574 | -98.1% |
| Land and buildings | 22 | €202,421 | - | -€202,421 | |
| Plant, machinery and equipment | 23 | €36,203 | - | -€36,203 | |
| Furniture and vehicles | 24 | €13,788 | €4,838 | -€8,949 | -64.9% |
| Financial fixed assets | 28 | - | €109 | +€109 | |
| Other financial fixed assets | 284/8 | - | €109 | +€109 | |
| Amounts receivable and cash guarantees | 285/8 | - | €109 | +€109 | |
| Current assets | 29/58 | €8,731,972 | €7,571,086 | -€1.2m | -13.3% |
| Stocks and contracts in progress | 3 | €4,116,851 | €3,679,161 | -€437,690 | -10.6% |
| Stocks | 30/36 | €4,116,851 | €3,679,161 | -€437,690 | -10.6% |
| Goods purchased for resale | 34 | €4,116,851 | €3,679,161 | -€437,690 | -10.6% |
| Amounts receivable within one year | 40/41 | €4,544,618 | €3,835,785 | -€708,832 | -15.6% |
| Trade receivables | 40 | €4,447,914 | €3,765,761 | -€682,153 | -15.3% |
| Other amounts receivable | 41 | €96,704 | €70,025 | -€26,679 | -27.6% |
| Cash at bank and in hand | 54/58 | €49,690 | €40,465 | -€9,224 | -18.6% |
| Deferred charges and accrued income | 490/1 | €20,814 | €15,674 | -€5,139 | -24.7% |
| Total equity and liabilities | 10/49 | €8,984,384 | €7,576,033 | -€1.4m | -15.7% |
| Equity | 10/15 | €2,318,400 | €1,789,547 | -€528,853 | -22.8% |
| Contributions | 10/11 | €125,250 | €101,250 | -€24,000 | -19.2% |
| Capital | 10 | €125,250 | €101,250 | -€24,000 | -19.2% |
| Issued capital | 100 | €125,250 | €101,250 | -€24,000 | -19.2% |
| Reserves | 13 | €12,525 | €10,125 | -€2,400 | -19.2% |
| Non-distributable reserves | 130/1 | €12,525 | €10,125 | -€2,400 | -19.2% |
| Legal reserve | 130 | €12,525 | €10,125 | -€2,400 | -19.2% |
| Profit (loss) carried forward | 14 | €2,180,625 | €1,678,172 | -€502,453 | -23.0% |
| Amounts payable | 17/49 | €6,665,984 | €5,786,486 | -€879,498 | -13.2% |
| Amounts payable after more than one year | 17 | €187,500 | - | -€187,500 | |
| Financial debts | 170/4 | €187,500 | - | -€187,500 | |
| Credit institutions | 173 | €187,500 | - | -€187,500 | |
| Amounts payable within one year | 42/48 | €6,462,161 | €5,776,194 | -€685,967 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €187,500 | -€62,500 | -25.0% |
| Financial debts | 43 | €2,760,365 | €1,448,482 | -€1.3m | -47.5% |
| Credit institutions | 430/8 | €2,760,365 | €1,448,482 | -€1.3m | -47.5% |
| Trade debts | 44 | €3,019,879 | €3,733,478 | +€713,599 | +23.6% |
| Suppliers | 440/4 | €3,019,879 | €3,733,478 | +€713,599 | +23.6% |
| Taxes, remuneration and social security | 45 | €431,917 | €363,412 | -€68,504 | -15.9% |
| Taxes | 450/3 | €351,391 | €258,957 | -€92,434 | -26.3% |
| Remuneration and social security | 454/9 | €80,526 | €104,456 | +€23,930 | +29.7% |
| Other amounts payable | 47/48 | - | €43,322 | +€43,322 | |
| Accrued charges and deferred income | 492/3 | €16,323 | €10,292 | -€6,031 | -36.9% |
| Operating income | 70/76A | €53,628,632 | €32,984,079 | -€20.6m | -38.5% |
| Turnover | 70 | €53,407,202 | €32,890,060 | -€20.5m | -38.4% |
| Other operating income | 74 | €221,430 | €93,933 | -€127,497 | -57.6% |
| Non-recurring operating income | 76A | - | €86 | +€86 | |
| Operating charges | 60/66A | €53,213,001 | €32,763,653 | -€20.4m | -38.4% |
| Goods for resale, raw materials and consumables | 60 | €50,581,197 | €31,154,532 | -€19.4m | -38.4% |
| Purchases | 600/8 | €49,532,433 | €30,716,842 | -€18.8m | -38.0% |
| Change in stocks: decrease (increase) | 609 | €1,048,764 | €437,690 | -€611,073 | -58.3% |
| Services and other goods | 61 | €1,444,973 | €867,522 | -€577,450 | -40.0% |
| Remuneration, social security and pensions | 62 | €1,101,876 | €750,297 | -€351,579 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,778 | €24,410 | -€37,369 | -60.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,744 | -€75,425 | -€63,681 | -542% |
| Other operating charges | 640/8 | €34,921 | €42,317 | +€7,396 | +21.2% |
| Operating profit (loss) | 9901 | €415,631 | €220,426 | -€195,205 | -47.0% |
| Financial income | 75/76B | €1,788 | €1,931 | +€144 | +8.0% |
| Recurring financial income | 75 | €1,788 | €1,931 | +€144 | +8.0% |
| Other financial income | 752/9 | €1,788 | €1,931 | +€144 | +8.0% |
| Financial charges | 65/66B | €395,144 | €184,066 | -€211,078 | -53.4% |
| Recurring financial charges | 65 | €395,144 | €184,066 | -€211,078 | -53.4% |
| Debt charges | 650 | €325,716 | €126,102 | -€199,614 | -61.3% |
| Other financial charges | 652/9 | €69,428 | €57,964 | -€11,464 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €22,275 | €38,291 | +€16,016 | +71.9% |
| Income taxes | 67/77 | €18,237 | €26,955 | +€8,718 | +47.8% |
| Taxes | 670/3 | €18,237 | €26,955 | +€8,718 | +47.8% |
| Profit (loss) for the period | 9904 | €4,038 | €11,336 | +€7,299 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €4,038 | €11,336 | +€7,299 | +181% |
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 13 October 2026 via checked.be.