ANALOG PHYSICAL DESIGN: 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.
ANALOG PHYSICAL DESIGN
Largest movements
- Current investments -€98,698
down €98,698 (-71.0%), from €139,034 to €40,337
- Receivables within one year +€22,885
up €22,885 (+97.0%), from €23,600 to €46,484
of which Trade receivables: +€16,275
- Cash -€12,885
down €12,885 (-11.4%), from €113,058 to €100,173
mainly Contributions, distributions and other (-€110,532) and Other debts (-€24,065)
- Tangible fixed assets -€11,421
down €11,421 (-12.0%), from €94,966 to €83,545
of which Land and buildings: -€10,857
- Reserves -€65,692
down €65,692 (-23.9%), from €274,754 to €209,062
- Other debts -€24,065
down €24,065 (-100%), from €24,065 to €0
- Debts after one year -€10,780
down €10,780 (-21.4%), from €50,444 to €39,663
- Gross operating margin -€9,761
down €9,761 (-11.3%), from €86,124 to €76,363
- Taxes -€2,119
down €2,119 (-11.0%), from €19,350 to €17,231
- Financial charges -€1,927
down €1,927 (-32.6%), from €5,911 to €3,984
of which Non-recurring financial charges: -€975
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 | €373,914 | €274,225 | -€99,690 | -26.7% |
| Fixed assets | 21/28 | €94,966 | €83,545 | -€11,421 | -12.0% |
| Tangible fixed assets | 22/27 | €94,966 | €83,545 | -€11,421 | -12.0% |
| Land and buildings | 22 | €94,340 | €83,483 | -€10,857 | -11.5% |
| Furniture and vehicles | 24 | €626 | €62 | -€564 | -90.1% |
| Current assets | 29/58 | €278,948 | €190,680 | -€88,268 | -31.6% |
| Amounts receivable within one year | 40/41 | €23,600 | €46,484 | +€22,885 | +97.0% |
| Trade receivables | 40 | €17,303 | €33,578 | +€16,275 | +94.1% |
| Other amounts receivable | 41 | €6,297 | €12,907 | +€6,610 | +105% |
| Current investments | 50/53 | €139,034 | €40,337 | -€98,698 | -71.0% |
| Cash at bank and in hand | 54/58 | €113,058 | €100,173 | -€12,885 | -11.4% |
| Deferred charges and accrued income | 490/1 | €3,257 | €3,686 | +€429 | +13.2% |
| Total equity and liabilities | 10/49 | €373,914 | €274,225 | -€99,690 | -26.7% |
| Equity | 10/15 | €274,754 | €209,062 | -€65,692 | -23.9% |
| Reserves | 13 | €274,754 | €209,062 | -€65,692 | -23.9% |
| Distributable reserves | 133 | €274,754 | €209,062 | -€65,692 | -23.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €99,160 | €65,162 | -€33,998 | -34.3% |
| Amounts payable after more than one year | 17 | €50,444 | €39,663 | -€10,780 | -21.4% |
| Financial debts | 170/4 | €50,444 | €39,663 | -€10,780 | -21.4% |
| Amounts payable within one year | 42/48 | €48,717 | €25,499 | -€23,218 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | €10,427 | €10,780 | +€353 | +3.4% |
| Financial debts | 43 | - | €244 | +€244 | |
| Credit institutions | 430/8 | - | €244 | +€244 | |
| Trade debts | 44 | €955 | €2,857 | +€1,902 | +199% |
| Suppliers | 440/4 | €955 | €2,857 | +€1,902 | +199% |
| Taxes, remuneration and social security | 45 | €13,269 | €11,618 | -€1,651 | -12.4% |
| Taxes | 450/3 | €13,269 | €11,618 | -€1,651 | -12.4% |
| Other amounts payable | 47/48 | €24,065 | €0 | -€24,065 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,737 | €11,421 | -€316 | -2.7% |
| Other operating charges | 640/8 | €1,421 | €828 | -€593 | -41.7% |
| Gross operating margin | 9900 | €86,124 | €76,363 | -€9,761 | -11.3% |
| Operating profit (loss) | 9901 | €72,966 | €64,114 | -€8,852 | -12.1% |
| Financial income | 75/76B | €2,334 | €1,942 | -€392 | -16.8% |
| Recurring financial income | 75 | €1,731 | €1,942 | +€211 | +12.2% |
| Non-recurring financial income | 76B | €604 | €0 | -€604 | -100% |
| Financial charges | 65/66B | €5,911 | €3,984 | -€1,927 | -32.6% |
| Recurring financial charges | 65 | €4,936 | €3,984 | -€951 | -19.3% |
| Non-recurring financial charges | 66B | €975 | - | -€975 | |
| Profit (loss) for the period before taxes | 9903 | €69,390 | €62,072 | -€7,318 | -10.5% |
| Income taxes | 67/77 | €19,350 | €17,231 | -€2,119 | -11.0% |
| Profit (loss) for the period | 9904 | €50,040 | €44,840 | -€5,199 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,040 | €44,840 | -€5,199 | -10.4% |
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 17 October 2026 via checked.be.