AUDAG PROJECT: 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.
AUDAG PROJECT
Largest movements
- Tangible fixed assets -€4,862
down €4,862 (-25.8%), from €18,832 to €13,970
of which Plant, machinery and equipment: -€3,151
- Cash -€4,391
down €4,391 (-37.0%), from €11,880 to €7,490
mainly Short-term financial debts (-€10,000) and Receivables within one year (-€1,410)
- Current investments -€2,542
down €2,542 (-37.6%), from €6,754 to €4,212
- Receivables within one year +€1,410
up €1,410 (+2.4%), from €59,673 to €61,083
of which Trade receivables: +€1,507
- Short-term financial debts -€10,000
no longer reported in 2025 (was €10,000)
- Gross operating margin +€26,765
up €26,765, from -€17,628 to €9,137
- Other operating charges +€3,024
up €3,024 (+671.3%), from €450 to €3,474
- Financial income +€266
up €266 (+52.2%), from €510 to €776
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 | €99,239 | €89,770 | -€9,469 | -9.5% |
| Fixed assets | 21/28 | €18,832 | €13,970 | -€4,862 | -25.8% |
| Tangible fixed assets | 22/27 | €18,832 | €13,970 | -€4,862 | -25.8% |
| Plant, machinery and equipment | 23 | €11,049 | €7,898 | -€3,151 | -28.5% |
| Furniture and vehicles | 24 | €7,783 | €6,072 | -€1,711 | -22.0% |
| Current assets | 29/58 | €80,407 | €75,800 | -€4,607 | -5.7% |
| Stocks and contracts in progress | 3 | €2,100 | €2,400 | +€300 | +14.3% |
| Stocks | 30/36 | €2,100 | €2,400 | +€300 | +14.3% |
| Amounts receivable within one year | 40/41 | €59,673 | €61,083 | +€1,410 | +2.4% |
| Trade receivables | 40 | €28,623 | €30,129 | +€1,507 | +5.3% |
| Other amounts receivable | 41 | €31,050 | €30,954 | -€97 | -0.3% |
| Current investments | 50/53 | €6,754 | €4,212 | -€2,542 | -37.6% |
| Cash at bank and in hand | 54/58 | €11,880 | €7,490 | -€4,391 | -37.0% |
| Deferred charges and accrued income | 490/1 | - | €615 | +€615 | |
| Total equity and liabilities | 10/49 | €99,239 | €89,770 | -€9,469 | -9.5% |
| Equity | 10/15 | €84,994 | €85,068 | +€74 | +0.1% |
| Contributions | 10/11 | €11,600 | €11,600 | = | 0.0% |
| Reserves | 13 | €82,626 | €82,626 | = | 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 | €3,394 | €3,394 | = | 0.0% |
| Distributable reserves | 133 | €77,372 | €77,372 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,232 | -€9,158 | +€74 | +0.8% |
| Amounts payable | 17/49 | €14,246 | €4,702 | -€9,544 | -67.0% |
| Amounts payable within one year | 42/48 | €14,246 | €4,702 | -€9,544 | -67.0% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €4,246 | €4,702 | +€456 | +10.7% |
| Suppliers | 440/4 | €4,246 | €4,702 | +€456 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,792 | €5,883 | +€90 | +1.6% |
| Other operating charges | 640/8 | €450 | €3,474 | +€3,024 | +671.3% |
| Gross operating margin | 9900 | -€17,628 | €9,137 | +€26,765 | |
| Operating profit (loss) | 9901 | -€23,871 | -€220 | +€23,650 | +99.1% |
| Financial income | 75/76B | €510 | €776 | +€266 | +52.2% |
| Recurring financial income | 75 | €510 | €776 | +€266 | +52.2% |
| Financial charges | 65/66B | €408 | €481 | +€73 | +18.0% |
| Recurring financial charges | 65 | €408 | €481 | +€73 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,769 | €74 | +€23,843 | |
| Profit (loss) for the period | 9904 | -€23,769 | €74 | +€23,843 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,769 | €74 | +€23,843 |
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 10 October 2026 via checked.be.