AD'JUST: 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.
AD'JUST
Largest movements
- Tangible fixed assets -€3,123
down €3,123 (-23.1%), from €13,536 to €10,412
- Receivables within one year +€1,931
up €1,931 (+84.7%), from €2,279 to €4,210
of which Trade receivables: +€2,177
- Debts after one year -€36,278
down €36,278 (-23.1%), from €156,843 to €120,564
- Profit (loss) carried forward +€18,684
up €18,684 (+7.1%), from -€262,613 to -€243,930
- Tax, wage and social debts +€10,523
up €10,523 (+64.8%), from €16,239 to €26,762
- Accrued charges and deferred income +€7,021
new in 2025: €7,021
- Other debts -€999
no longer reported in 2025 (was €999)
- Turnover +€16,906
up €16,906 (+50.3%), from €33,624 to €50,529
- Gross operating margin +€10,779
up €10,779 (+43.6%), from €24,709 to €35,488
- Financial charges +€7,041
up €7,041 (+748.8%), from €940 to €7,981
- Purchases and services +€6,127
up €6,127 (+68.7%), from €8,914 to €15,041
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,015 | €15,822 | -€1,193 | -7.0% |
| Fixed assets | 21/28 | €13,536 | €10,412 | -€3,123 | -23.1% |
| Tangible fixed assets | 22/27 | €13,536 | €10,412 | -€3,123 | -23.1% |
| Land and buildings | 22 | €13,536 | €10,412 | -€3,123 | -23.1% |
| Current assets | 29/58 | €3,480 | €5,410 | +€1,930 | +55.5% |
| Stocks and contracts in progress | 3 | €1,200 | €1,200 | = | 0.0% |
| Stocks | 30/36 | €1,200 | €1,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,279 | €4,210 | +€1,931 | +84.7% |
| Trade receivables | 40 | €2,033 | €4,210 | +€2,177 | +107.1% |
| Other amounts receivable | 41 | €246 | - | -€246 | |
| Deferred charges and accrued income | 490/1 | €1 | - | -€1 | |
| Total equity and liabilities | 10/49 | €17,015 | €15,822 | -€1,193 | -7.0% |
| Equity | 10/15 | -€163,456 | -€144,773 | +€18,684 | +11.4% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€262,613 | -€243,930 | +€18,684 | +7.1% |
| Amounts payable | 17/49 | €180,472 | €160,595 | -€19,877 | -11.0% |
| Amounts payable after more than one year | 17 | €156,843 | €120,564 | -€36,278 | -23.1% |
| Financial debts | 170/4 | €156,843 | €120,564 | -€36,278 | -23.1% |
| Amounts payable within one year | 42/48 | €23,629 | €33,010 | +€9,381 | +39.7% |
| Financial debts | 43 | €5,966 | €5,948 | -€17 | -0.3% |
| Credit institutions | 430/8 | €5,966 | €5,948 | -€17 | -0.3% |
| Trade debts | 44 | €426 | €300 | -€127 | -29.7% |
| Suppliers | 440/4 | €426 | €300 | -€127 | -29.7% |
| Taxes, remuneration and social security | 45 | €16,239 | €26,762 | +€10,523 | +64.8% |
| Taxes | 450/3 | €16,239 | €26,762 | +€10,523 | +64.8% |
| Other amounts payable | 47/48 | €999 | - | -€999 | |
| Accrued charges and deferred income | 492/3 | - | €7,021 | +€7,021 | |
| Turnover | 70 | €33,624 | €50,529 | +€16,906 | +50.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,914 | €15,041 | +€6,127 | +68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,123 | €3,123 | = | 0.0% |
| Other operating charges | 640/8 | €5,700 | €5,700 | = | 0.0% |
| Gross operating margin | 9900 | €24,709 | €35,488 | +€10,779 | +43.6% |
| Operating profit (loss) | 9901 | €15,887 | €26,666 | +€10,779 | +67.8% |
| Financial charges | 65/66B | €940 | €7,981 | +€7,041 | +748.8% |
| Recurring financial charges | 65 | €940 | €7,981 | +€7,041 | +748.8% |
| Profit (loss) for the period before taxes | 9903 | €14,946 | €18,684 | +€3,738 | +25.0% |
| Profit (loss) for the period | 9904 | €14,946 | €18,684 | +€3,738 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,946 | €18,684 | +€3,738 | +25.0% |
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.