ADA&CO2: 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.
ADA&CO2
Largest movements
- Stocks and contracts -€72,536
down €72,536 (-12.2%), from €595,470 to €522,934
- Tangible fixed assets -€63,332
down €63,332 (-14.5%), from €436,208 to €372,875
- Cash -€30,570
down €30,570 (-70.9%), from €43,136 to €12,566
mainly Net result for the year (-€124,211) and Current portion of long-term debt (-€59,518)
- Deferred charges and accrued income +€19,312
up €19,312 (+3,033%), from €637 to €19,949
- Profit (loss) carried forward -€124,211
down €124,211 (-47.1%), from €263,585 to €139,373
- Current portion of long-term debt -€59,518
down €59,518 (-46.7%), from €127,362 to €67,845
- Short-term financial debts +€54,824
new in 2025: €54,824
- Trade debts +€37,896
up €37,896 (+15.1%), from €250,496 to €288,392
- Debts after one year -€30,049
down €30,049 (-12.6%), from €239,312 to €209,262
- Gross operating margin -€43,994
down €43,994 (-19.7%), from €223,277 to €179,283
- Write-downs -€8,650
no longer reported in 2025 (was €8,650)
- Other operating charges -€2,815
down €2,815 (-10.0%), from €28,202 to €25,387
- Financial income -€2,480
down €2,480 (-82.8%), from €2,996 to €516
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 | €1,095,690 | €958,114 | -€137,576 | -12.6% |
| Fixed assets | 21/28 | €436,208 | €372,875 | -€63,332 | -14.5% |
| Tangible fixed assets | 22/27 | €436,208 | €372,875 | -€63,332 | -14.5% |
| Land and buildings | 22 | €281,987 | €272,632 | -€9,355 | -3.3% |
| Plant, machinery and equipment | 23 | €35,306 | €19,959 | -€15,347 | -43.5% |
| Furniture and vehicles | 24 | €63,642 | €46,968 | -€16,674 | -26.2% |
| Other tangible fixed assets | 26 | €55,273 | €33,316 | -€21,957 | -39.7% |
| Current assets | 29/58 | €659,483 | €585,239 | -€74,244 | -11.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €595,470 | €522,934 | -€72,536 | -12.2% |
| Stocks | 30/36 | €595,470 | €522,934 | -€72,536 | -12.2% |
| Amounts receivable within one year | 40/41 | €20,240 | €29,790 | +€9,550 | +47.2% |
| Trade receivables | 40 | €16,906 | €9,827 | -€7,078 | -41.9% |
| Other amounts receivable | 41 | €3,334 | €19,962 | +€16,628 | +499% |
| Cash at bank and in hand | 54/58 | €43,136 | €12,566 | -€30,570 | -70.9% |
| Deferred charges and accrued income | 490/1 | €637 | €19,949 | +€19,312 | +3,033% |
| Total equity and liabilities | 10/49 | €1,095,690 | €958,114 | -€137,576 | -12.6% |
| Equity | 10/15 | €388,585 | €264,373 | -€124,211 | -32.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €263,585 | €139,373 | -€124,211 | -47.1% |
| Amounts payable | 17/49 | €707,106 | €693,741 | -€13,365 | -1.9% |
| Amounts payable after more than one year | 17 | €239,312 | €209,262 | -€30,049 | -12.6% |
| Financial debts | 170/4 | €239,312 | €209,262 | -€30,049 | -12.6% |
| Amounts payable within one year | 42/48 | €457,169 | €481,894 | +€24,724 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €127,362 | €67,845 | -€59,518 | -46.7% |
| Financial debts | 43 | - | €54,824 | +€54,824 | |
| Credit institutions | 430/8 | - | €54,824 | +€54,824 | |
| Trade debts | 44 | €250,496 | €288,392 | +€37,896 | +15.1% |
| Suppliers | 440/4 | €250,496 | €288,392 | +€37,896 | +15.1% |
| Taxes, remuneration and social security | 45 | €66,867 | €54,545 | -€12,322 | -18.4% |
| Taxes | 450/3 | €20,485 | €24,832 | +€4,347 | +21.2% |
| Remuneration and social security | 454/9 | €46,382 | €29,713 | -€16,669 | -35.9% |
| Other amounts payable | 47/48 | €12,444 | €16,288 | +€3,843 | +30.9% |
| Accrued charges and deferred income | 492/3 | €10,625 | €2,585 | -€8,040 | -75.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €202,970 | €201,900 | -€1,070 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,419 | €65,866 | -€1,553 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,650 | - | -€8,650 | |
| Other operating charges | 640/8 | €28,202 | €25,387 | -€2,815 | -10.0% |
| Gross operating margin | 9900 | €223,277 | €179,283 | -€43,994 | -19.7% |
| Operating profit (loss) | 9901 | -€83,963 | -€113,870 | -€29,907 | -35.6% |
| Financial income | 75/76B | €2,996 | €516 | -€2,480 | -82.8% |
| Recurring financial income | 75 | €2,996 | €516 | -€2,480 | -82.8% |
| Financial charges | 65/66B | €9,435 | €10,431 | +€996 | +10.6% |
| Recurring financial charges | 65 | €9,435 | €10,431 | +€996 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€90,402 | -€123,785 | -€33,383 | -36.9% |
| Income taxes | 67/77 | €0 | €426 | +€426 | |
| Profit (loss) for the period | 9904 | -€90,402 | -€124,211 | -€33,809 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,402 | -€124,211 | -€33,809 | -37.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.