ADY ART: 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.
ADY ART
Largest movements
- Receivables within one year -€194,743
down €194,743 (-60.4%), from €322,216 to €127,473
of which Trade receivables: -€205,834
- Deferred charges and accrued income +€97,970
up €97,970 (+3,278%), from €2,989 to €100,959
- Cash -€32,875
down €32,875 (-58.6%), from €56,092 to €23,217
mainly Trade debts (-€156,212) and Deferred charges and accrued income (-€97,970)
- Receivables after one year -€7,924
down €7,924 (-100%), from €7,924 to €0
- Tangible fixed assets +€6,559
up €6,559 (+7.4%), from €88,066 to €94,625
of which Furniture and vehicles: +€7,374
- Trade debts -€156,212
down €156,212 (-58.5%), from €266,924 to €110,712
- Debts after one year -€22,586
down €22,586 (-38.5%), from €58,704 to €36,118
- Current portion of long-term debt +€22,510
up €22,510 (+714%), from €3,152 to €25,661
- Short-term financial debts +€18,903
new in 2025: €18,903
- Profit (loss) carried forward +€14,515
up €14,515 (+16.9%), from €85,730 to €100,246
- Gross operating margin -€40,119
down €40,119 (-26.6%), from €150,635 to €110,516
- Taxes -€11,197
down €11,197 (-59.9%), from €18,705 to €7,508
- Other operating charges +€9,454
up €9,454 (+192%), from €4,911 to €14,365
- Depreciation +€7,655
up €7,655 (+28.3%), from €27,061 to €34,716
- Write-downs -€6,886
down €6,886, from €5,943 to -€943
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 | €477,287 | €346,274 | -€131,013 | -27.4% |
| Fixed assets | 21/28 | €88,066 | €94,625 | +€6,559 | +7.4% |
| Tangible fixed assets | 22/27 | €88,066 | €94,625 | +€6,559 | +7.4% |
| Plant, machinery and equipment | 23 | €1,218 | €403 | -€815 | -66.9% |
| Furniture and vehicles | 24 | €86,848 | €94,222 | +€7,374 | +8.5% |
| Current assets | 29/58 | €389,220 | €251,649 | -€137,572 | -35.3% |
| Amounts receivable after more than one year | 29 | €7,924 | €0 | -€7,924 | -100% |
| Other amounts receivable | 291 | €7,924 | €0 | -€7,924 | -100% |
| Amounts receivable within one year | 40/41 | €322,216 | €127,473 | -€194,743 | -60.4% |
| Trade receivables | 40 | €313,609 | €107,775 | -€205,834 | -65.6% |
| Other amounts receivable | 41 | €8,607 | €19,698 | +€11,091 | +129% |
| Cash at bank and in hand | 54/58 | €56,092 | €23,217 | -€32,875 | -58.6% |
| Deferred charges and accrued income | 490/1 | €2,989 | €100,959 | +€97,970 | +3,278% |
| Total equity and liabilities | 10/49 | €477,287 | €346,274 | -€131,013 | -27.4% |
| Equity | 10/15 | €130,290 | €144,806 | +€14,515 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,360 | €38,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,500 | €26,500 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,730 | €100,246 | +€14,515 | +16.9% |
| Amounts payable | 17/49 | €346,997 | €201,468 | -€145,528 | -41.9% |
| Amounts payable after more than one year | 17 | €58,704 | €36,118 | -€22,586 | -38.5% |
| Financial debts | 170/4 | €58,704 | €36,118 | -€22,586 | -38.5% |
| Amounts payable within one year | 42/48 | €288,293 | €165,351 | -€122,942 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €3,152 | €25,661 | +€22,510 | +714% |
| Financial debts | 43 | - | €18,903 | +€18,903 | |
| Credit institutions | 430/8 | - | €18,903 | +€18,903 | |
| Trade debts | 44 | €266,924 | €110,712 | -€156,212 | -58.5% |
| Suppliers | 440/4 | €266,924 | €110,712 | -€156,212 | -58.5% |
| Taxes, remuneration and social security | 45 | €18,217 | €10,074 | -€8,142 | -44.7% |
| Taxes | 450/3 | €15,484 | €6,386 | -€9,097 | -58.8% |
| Remuneration and social security | 454/9 | €2,733 | €3,688 | +€955 | +34.9% |
| Remuneration, social security and pensions | 62 | €19,710 | €23,472 | +€3,762 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,061 | €34,716 | +€7,655 | +28.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,943 | -€943 | -€6,886 | |
| Other operating charges | 640/8 | €4,911 | €14,365 | +€9,454 | +192% |
| Non-recurring operating charges | 66A | €1,194 | €1,334 | +€140 | +11.7% |
| Gross operating margin | 9900 | €150,635 | €110,516 | -€40,119 | -26.6% |
| Operating profit (loss) | 9901 | €91,816 | €37,572 | -€54,243 | -59.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €20,539 | €15,550 | -€4,989 | -24.3% |
| Recurring financial charges | 65 | €20,539 | €15,550 | -€4,989 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €71,277 | €22,023 | -€49,254 | -69.1% |
| Income taxes | 67/77 | €18,705 | €7,508 | -€11,197 | -59.9% |
| Profit (loss) for the period | 9904 | €52,572 | €14,515 | -€38,057 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,572 | €14,515 | -€38,057 | -72.4% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.