A.D.A.: 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.
A.D.A.
Largest movements
- Receivables within one year -€23,199
down €23,199 (-83.2%), from €27,899 to €4,700
- Debts after one year -€15,946
down €15,946 (-6.9%), from €231,291 to €215,345
- Other debts -€10,599
down €10,599 (-8.1%), from €130,279 to €119,680
- Trade debts -€5,814
down €5,814 (-96.1%), from €6,050 to €236
- Gross operating margin +€2,045
up €2,045 (+16.4%), from €12,468 to €14,513
- Other operating charges -€1,950
down €1,950 (-63.3%), from €3,080 to €1,131
- Financial charges -€515
down €515 (-6.2%), from €8,329 to €7,814
- Depreciation +€215
up €215 (+4.1%), from €5,268 to €5,483
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 | €574,659 | €542,885 | -€31,774 | -5.5% |
| Fixed assets | 21/28 | €541,575 | €536,092 | -€5,483 | -1.0% |
| Tangible fixed assets | 22/27 | €78,296 | €72,813 | -€5,483 | -7.0% |
| Land and buildings | 22 | €73,900 | €69,303 | -€4,597 | -6.2% |
| Other tangible fixed assets | 26 | €4,396 | €3,509 | -€887 | -20.2% |
| Financial fixed assets | 28 | €463,279 | €463,279 | = | 0.0% |
| Current assets | 29/58 | €33,084 | €6,794 | -€26,291 | -79.5% |
| Amounts receivable within one year | 40/41 | €27,899 | €4,700 | -€23,199 | -83.2% |
| Other amounts receivable | 41 | €27,899 | €4,700 | -€23,199 | -83.2% |
| Cash at bank and in hand | 54/58 | €5,185 | €2,094 | -€3,091 | -59.6% |
| Total equity and liabilities | 10/49 | €574,659 | €542,885 | -€31,774 | -5.5% |
| Equity | 10/15 | €162,702 | €163,165 | +€463 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,774 | €127,641 | -€1,133 | -0.9% |
| Tax-exempt reserves | 132 | €86,676 | €85,543 | -€1,133 | -1.3% |
| Distributable reserves | 133 | €42,099 | €42,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,328 | €16,923 | +€1,596 | +10.4% |
| Provisions and deferred taxes | 16 | €28,892 | €28,514 | -€378 | -1.3% |
| Deferred taxes | 168 | €28,892 | €28,514 | -€378 | -1.3% |
| Amounts payable | 17/49 | €383,066 | €351,206 | -€31,859 | -8.3% |
| Amounts payable after more than one year | 17 | €231,291 | €215,345 | -€15,946 | -6.9% |
| Financial debts | 170/4 | €231,291 | €215,345 | -€15,946 | -6.9% |
| Amounts payable within one year | 42/48 | €151,775 | €135,861 | -€15,913 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €15,446 | €15,946 | +€500 | +3.2% |
| Trade debts | 44 | €6,050 | €236 | -€5,814 | -96.1% |
| Suppliers | 440/4 | €6,050 | €236 | -€5,814 | -96.1% |
| Other amounts payable | 47/48 | €130,279 | €119,680 | -€10,599 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,268 | €5,483 | +€215 | +4.1% |
| Other operating charges | 640/8 | €3,080 | €1,131 | -€1,950 | -63.3% |
| Gross operating margin | 9900 | €12,468 | €14,513 | +€2,045 | +16.4% |
| Operating profit (loss) | 9901 | €4,120 | €7,899 | +€3,779 | +91.7% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €8,329 | €7,814 | -€515 | -6.2% |
| Recurring financial charges | 65 | €8,329 | €7,814 | -€515 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,202 | €85 | +€4,287 | |
| Profit (loss) for the period | 9904 | -€4,202 | €85 | +€4,287 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,202 | €85 | +€4,287 |
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 3 October 2026 via checked.be.