AdSpecialist: 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.
AdSpecialist
Largest movements
- Cash -€22,513
down €22,513 (-54.1%), from €41,591 to €19,078
mainly Contributions, distributions and other (-€49,356) and Receivables after one year (-€10,000)
- Receivables after one year +€10,000
new in 2025: €10,000
- Tangible fixed assets -€1,439
down €1,439 (-16.7%), from €8,611 to €7,172
of which Land and buildings: -€728
- Deferred charges and accrued income +€951
up €951 (+646.4%), from €147 to €1,098
- Reserves -€49,356
no longer reported in 2025 (was €49,356)
- Other debts +€39,926
up €39,926 (+444.9%), from €8,974 to €48,900
- Profit (loss) carried forward -€2,966
new in 2025: -€2,966
- Gross operating margin -€21,644
down €21,644, from €20,794 to -€850
- Taxes -€3,924
down €3,924 (-99.0%), from €3,964 to €41
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 | €80,588 | €67,976 | -€12,612 | -15.6% |
| Fixed assets | 21/28 | €8,611 | €7,172 | -€1,439 | -16.7% |
| Tangible fixed assets | 22/27 | €8,611 | €7,172 | -€1,439 | -16.7% |
| Land and buildings | 22 | €7,769 | €7,041 | -€728 | -9.4% |
| Furniture and vehicles | 24 | €842 | €131 | -€711 | -84.5% |
| Current assets | 29/58 | €71,977 | €60,805 | -€11,173 | -15.5% |
| Amounts receivable after more than one year | 29 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 291 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €30,240 | €30,629 | +€390 | +1.3% |
| Trade receivables | 40 | €28,204 | €26,938 | -€1,265 | -4.5% |
| Other amounts receivable | 41 | €2,036 | €3,691 | +€1,655 | +81.3% |
| Cash at bank and in hand | 54/58 | €41,591 | €19,078 | -€22,513 | -54.1% |
| Deferred charges and accrued income | 490/1 | €147 | €1,098 | +€951 | +646.4% |
| Total equity and liabilities | 10/49 | €80,588 | €67,976 | -€12,612 | -15.6% |
| Equity | 10/15 | €67,956 | €15,634 | -€52,322 | -77.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,356 | - | -€49,356 | |
| Distributable reserves | 133 | €49,356 | - | -€49,356 | |
| Profit (loss) carried forward | 14 | - | -€2,966 | -€2,966 | |
| Amounts payable | 17/49 | €12,633 | €52,343 | +€39,710 | +314.3% |
| Amounts payable within one year | 42/48 | €12,633 | €52,343 | +€39,710 | +314.3% |
| Financial debts | 43 | €23 | €44 | +€21 | +90.8% |
| Credit institutions | 430/8 | €23 | €44 | +€21 | +90.8% |
| Trade debts | 44 | €2,299 | €2,674 | +€375 | +16.3% |
| Suppliers | 440/4 | €2,299 | €2,674 | +€375 | +16.3% |
| Taxes, remuneration and social security | 45 | €1,337 | €725 | -€612 | -45.8% |
| Taxes | 450/3 | €1,337 | €725 | -€612 | -45.8% |
| Other amounts payable | 47/48 | €8,974 | €48,900 | +€39,926 | +444.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,454 | €1,439 | -€15 | -1.0% |
| Other operating charges | 640/8 | €265 | €180 | -€85 | -31.9% |
| Gross operating margin | 9900 | €20,794 | -€850 | -€21,644 | |
| Operating profit (loss) | 9901 | €19,075 | -€2,470 | -€21,544 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.0% |
| Financial charges | 65/66B | €525 | €456 | -€69 | -13.2% |
| Recurring financial charges | 65 | €525 | €456 | -€69 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €18,550 | -€2,926 | -€21,476 | |
| Income taxes | 67/77 | €3,964 | €41 | -€3,924 | -99.0% |
| Profit (loss) for the period | 9904 | €14,586 | -€2,966 | -€17,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,586 | -€2,966 | -€17,552 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.