ADS Projects: 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 Projects
Largest movements
- Stocks and contracts +€396,626
up €396,626 (+1578.7%), from €25,124 to €421,750
- Receivables within one year -€276,704
down €276,704 (-97.9%), from €282,559 to €5,855
of which Trade receivables: -€276,986
- Cash -€246,449
down €246,449 (-95.7%), from €257,423 to €10,975
mainly Stocks and contracts (-€396,626) and Accrued charges and deferred income (-€275,850)
- Accrued charges and deferred income -€275,850
no longer reported in 2025 (was €275,850)
- Other debts +€185,027
up €185,027 (+63.8%), from €290,030 to €475,057
- Profit (loss) carried forward -€37,255
down €37,255 (-5402.0%), from -€690 to -€37,944
- Other operating charges +€15,529
up €15,529 (+53.2%), from €29,204 to €44,733
- Gross operating margin -€2,433
down €2,433 (-7.6%), from €31,929 to €29,496
- Financial charges +€1,077
up €1,077 (+1094.9%), from €98 to €1,176
- Financial income +€814
up €814 (+182.3%), from €446 to €1,260
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 | €571,137 | €443,497 | -€127,640 | -22.3% |
| Fixed assets | 21/28 | €6,031 | €4,917 | -€1,114 | -18.5% |
| Tangible fixed assets | 22/27 | €6,031 | €4,917 | -€1,114 | -18.5% |
| Plant, machinery and equipment | 23 | €1,341 | €997 | -€345 | -25.7% |
| Furniture and vehicles | 24 | €4,690 | €3,921 | -€769 | -16.4% |
| Current assets | 29/58 | €565,106 | €438,579 | -€126,526 | -22.4% |
| Stocks and contracts in progress | 3 | €25,124 | €421,750 | +€396,626 | +1578.7% |
| Stocks | 30/36 | €25,124 | €421,750 | +€396,626 | +1578.7% |
| Amounts receivable within one year | 40/41 | €282,559 | €5,855 | -€276,704 | -97.9% |
| Trade receivables | 40 | €276,986 | - | -€276,986 | |
| Other amounts receivable | 41 | €5,573 | €5,855 | +€282 | +5.1% |
| Cash at bank and in hand | 54/58 | €257,423 | €10,975 | -€246,449 | -95.7% |
| Total equity and liabilities | 10/49 | €571,137 | €443,497 | -€127,640 | -22.3% |
| Equity | 10/15 | €1,810 | -€35,444 | -€37,255 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€690 | -€37,944 | -€37,255 | -5402.0% |
| Amounts payable | 17/49 | €569,326 | €478,941 | -€90,385 | -15.9% |
| Amounts payable within one year | 42/48 | €293,476 | €478,941 | +€185,465 | +63.2% |
| Trade debts | 44 | - | €551 | +€551 | |
| Suppliers | 440/4 | - | €551 | +€551 | |
| Taxes, remuneration and social security | 45 | €3,446 | €3,334 | -€113 | -3.3% |
| Taxes | 450/3 | €3,446 | €3,334 | -€113 | -3.3% |
| Other amounts payable | 47/48 | €290,030 | €475,057 | +€185,027 | +63.8% |
| Accrued charges and deferred income | 492/3 | €275,850 | - | -€275,850 | |
| Non-recurring operating income | 76A | €29,687 | €49,475 | +€19,788 | +66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,822 | €1,937 | +€115 | +6.3% |
| Other operating charges | 640/8 | €29,204 | €44,733 | +€15,529 | +53.2% |
| Non-recurring operating charges | 66A | - | €20,165 | +€20,165 | |
| Gross operating margin | 9900 | €31,929 | €29,496 | -€2,433 | -7.6% |
| Operating profit (loss) | 9901 | €903 | -€37,339 | -€38,243 | |
| Financial income | 75/76B | €446 | €1,260 | +€814 | +182.3% |
| Recurring financial income | 75 | €446 | €1,260 | +€814 | +182.3% |
| Financial charges | 65/66B | €98 | €1,176 | +€1,077 | +1094.9% |
| Recurring financial charges | 65 | €98 | €1,176 | +€1,077 | +1094.9% |
| Profit (loss) for the period before taxes | 9903 | €1,251 | -€37,255 | -€38,506 | |
| Income taxes | 67/77 | €113 | - | -€113 | |
| Profit (loss) for the period | 9904 | €1,139 | -€37,255 | -€38,393 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,139 | -€37,255 | -€38,393 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.