ads insight: 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 insight
Largest movements
- Cash +€234,351
up €234,351 (+34.0%), from €689,325 to €923,675
mainly Net result for the year (+€175,233) and Trade debts (+€160,840)
- Receivables within one year -€79,681
down €79,681 (-27.1%), from €293,522 to €213,841
of which Trade receivables: -€90,053
- Reserves +€175,233
up €175,233 (+32.8%), from €534,957 to €710,190
of which Distributable reserves: +€217,333
- Trade debts +€160,840
up €160,840 (+1064.3%), from €15,112 to €175,952
- Other debts -€147,474
down €147,474 (-58.5%), from €252,010 to €104,536
- Tax, wage and social debts -€39,339
down €39,339 (-23.6%), from €166,704 to €127,365
of which Taxes: -€37,896
- Gross operating margin -€100,435
down €100,435 (-8.3%), from €1.2m to €1.1m
- Staff costs +€52,709
up €52,709 (+6.7%), from €781,558 to €834,267
- Taxes -€23,102
down €23,102 (-22.7%), from €101,866 to €78,764
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 | €1,072,904 | €1,211,402 | +€138,498 | +12.9% |
| Fixed assets | 21/28 | €58,275 | €48,444 | -€9,831 | -16.9% |
| Intangible fixed assets | 21 | €17,005 | €9,507 | -€7,498 | -44.1% |
| Tangible fixed assets | 22/27 | €41,270 | €38,936 | -€2,333 | -5.7% |
| Furniture and vehicles | 24 | €20,762 | €26,421 | +€5,660 | +27.3% |
| Leasing and similar rights | 25 | €7,993 | €0 | -€7,993 | -100.0% |
| Other tangible fixed assets | 26 | €12,515 | €12,515 | = | 0.0% |
| Current assets | 29/58 | €1,014,629 | €1,162,958 | +€148,329 | +14.6% |
| Amounts receivable within one year | 40/41 | €293,522 | €213,841 | -€79,681 | -27.1% |
| Trade receivables | 40 | €224,602 | €134,549 | -€90,053 | -40.1% |
| Other amounts receivable | 41 | €68,920 | €79,292 | +€10,372 | +15.1% |
| Cash at bank and in hand | 54/58 | €689,325 | €923,675 | +€234,351 | +34.0% |
| Deferred charges and accrued income | 490/1 | €31,782 | €25,441 | -€6,341 | -20.0% |
| Total equity and liabilities | 10/49 | €1,072,904 | €1,211,402 | +€138,498 | +12.9% |
| Equity | 10/15 | €584,095 | €759,328 | +€175,233 | +30.0% |
| Contributions | 10/11 | €49,138 | €49,138 | = | 0.0% |
| Reserves | 13 | €534,957 | €710,190 | +€175,233 | +32.8% |
| Tax-exempt reserves | 132 | €126,300 | €84,200 | -€42,100 | -33.3% |
| Distributable reserves | 133 | €408,657 | €625,990 | +€217,333 | +53.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €35,000 | €35,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €35,000 | €35,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable | 17/49 | €453,809 | €417,074 | -€36,735 | -8.1% |
| Amounts payable after more than one year | 17 | €1,834 | €0 | -€1,834 | -100.0% |
| Financial debts | 170/4 | €1,834 | €0 | -€1,834 | -100.0% |
| Amounts payable within one year | 42/48 | €441,395 | €407,853 | -€33,542 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €7,568 | €0 | -€7,568 | -100.0% |
| Trade debts | 44 | €15,112 | €175,952 | +€160,840 | +1064.3% |
| Suppliers | 440/4 | €15,112 | €175,952 | +€160,840 | +1064.3% |
| Taxes, remuneration and social security | 45 | €166,704 | €127,365 | -€39,339 | -23.6% |
| Taxes | 450/3 | €81,601 | €43,705 | -€37,896 | -46.4% |
| Remuneration and social security | 454/9 | €85,103 | €83,660 | -€1,443 | -1.7% |
| Other amounts payable | 47/48 | €252,010 | €104,536 | -€147,474 | -58.5% |
| Accrued charges and deferred income | 492/3 | €10,580 | €9,220 | -€1,360 | -12.9% |
| Non-recurring operating income | 76A | - | €1,834 | +€1,834 | |
| Remuneration, social security and pensions | 62 | €781,558 | €834,267 | +€52,709 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,718 | €26,362 | -€9,356 | -26.2% |
| Other operating charges | 640/8 | €2,110 | €1,418 | -€692 | -32.8% |
| Gross operating margin | 9900 | €1,217,222 | €1,116,787 | -€100,435 | -8.3% |
| Operating profit (loss) | 9901 | €397,837 | €254,740 | -€143,096 | -36.0% |
| Financial income | 75/76B | €975 | €1,558 | +€583 | +59.8% |
| Recurring financial income | 75 | €975 | €1,558 | +€583 | +59.8% |
| Financial charges | 65/66B | €7,979 | €2,300 | -€5,678 | -71.2% |
| Recurring financial charges | 65 | €7,979 | €2,300 | -€5,678 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €390,833 | €253,997 | -€136,835 | -35.0% |
| Income taxes | 67/77 | €101,866 | €78,764 | -€23,102 | -22.7% |
| Profit (loss) for the period | 9904 | €288,967 | €175,233 | -€113,734 | -39.4% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,767 | €217,333 | +€12,566 | +6.1% |
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 12 October 2026 via checked.be.