ADAAPT: 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.
ADAAPT
Largest movements
- Cash +€174,087
up €174,087 (+231.5%), from €75,206 to €249,293
mainly Current investments (+€140,000) and Debts after one year (+€70,429)
- Current investments -€140,000
down €140,000 (-100.0%), from €140,000 to €0
- Intangible fixed assets +€88,089
up €88,089, from €0 to €88,089
- Tangible fixed assets -€15,121
down €15,121 (-21.7%), from €69,603 to €54,482
of which Furniture and vehicles: -€12,093
- Receivables within one year +€4,380
up €4,380 (+222.3%), from €1,970 to €6,350
of which Other amounts receivable: +€4,380
- Debts after one year +€70,429
up €70,429 (+573.6%), from €12,279 to €82,708
- Other debts +€33,641
up €33,641 (+87.3%), from €38,536 to €72,177
- Reserves -€17,870
down €17,870 (-7.9%), from €226,700 to €208,830
- Current portion of long-term debt +€17,493
up €17,493 (+409.0%), from €4,277 to €21,771
- Trade debts +€6,208
up €6,208 (+186.1%), from €3,336 to €9,543
- Gross operating margin -€3,616
down €3,616 (-4.5%), from €80,663 to €77,047
- Depreciation +€2,319
up €2,319 (+14.0%), from €16,613 to €18,932
- Taxes -€1,766
down €1,766 (-9.4%), from €18,752 to €16,986
- Financial income +€1,735
up €1,735 (+61.6%), from €2,818 to €4,552
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 | €289,304 | €400,696 | +€111,392 | +38.5% |
| Fixed assets | 21/28 | €69,603 | €142,571 | +€72,968 | +104.8% |
| Intangible fixed assets | 21 | €0 | €88,089 | +€88,089 | |
| Tangible fixed assets | 22/27 | €69,603 | €54,482 | -€15,121 | -21.7% |
| Plant, machinery and equipment | 23 | €1,156 | €896 | -€260 | -22.5% |
| Furniture and vehicles | 24 | €49,846 | €37,752 | -€12,093 | -24.3% |
| Other tangible fixed assets | 26 | €18,601 | €15,833 | -€2,768 | -14.9% |
| Current assets | 29/58 | €219,701 | €258,125 | +€38,424 | +17.5% |
| Amounts receivable within one year | 40/41 | €1,970 | €6,350 | +€4,380 | +222.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,970 | €6,350 | +€4,380 | +222.3% |
| Current investments | 50/53 | €140,000 | €0 | -€140,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €75,206 | €249,293 | +€174,087 | +231.5% |
| Deferred charges and accrued income | 490/1 | €2,526 | €2,483 | -€43 | -1.7% |
| Total equity and liabilities | 10/49 | €289,304 | €400,696 | +€111,392 | +38.5% |
| Equity | 10/15 | €230,876 | €211,347 | -€19,530 | -8.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €226,700 | €208,830 | -€17,870 | -7.9% |
| Distributable reserves | 133 | €226,700 | €208,830 | -€17,870 | -7.9% |
| Profit (loss) carried forward | 14 | €3,176 | €1,517 | -€1,660 | -52.3% |
| Amounts payable | 17/49 | €58,428 | €189,349 | +€130,921 | +224.1% |
| Amounts payable after more than one year | 17 | €12,279 | €82,708 | +€70,429 | +573.6% |
| Financial debts | 170/4 | €12,279 | €82,708 | +€70,429 | +573.6% |
| Amounts payable within one year | 42/48 | €46,149 | €106,641 | +€60,492 | +131.1% |
| Current portion of amounts payable after more than one year | 42 | €4,277 | €21,771 | +€17,493 | +409.0% |
| Trade debts | 44 | €3,336 | €9,543 | +€6,208 | +186.1% |
| Suppliers | 440/4 | €3,336 | €9,543 | +€6,208 | +186.1% |
| Taxes, remuneration and social security | 45 | €0 | €3,150 | +€3,150 | |
| Taxes | 450/3 | €0 | €3,150 | +€3,150 | |
| Other amounts payable | 47/48 | €38,536 | €72,177 | +€33,641 | +87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,613 | €18,932 | +€2,319 | +14.0% |
| Other operating charges | 640/8 | €387 | €450 | +€62 | +16.1% |
| Gross operating margin | 9900 | €80,663 | €77,047 | -€3,616 | -4.5% |
| Operating profit (loss) | 9901 | €63,663 | €57,665 | -€5,998 | -9.4% |
| Financial income | 75/76B | €2,818 | €4,552 | +€1,735 | +61.6% |
| Recurring financial income | 75 | €2,818 | €4,552 | +€1,735 | +61.6% |
| Financial charges | 65/66B | €932 | €995 | +€63 | +6.7% |
| Recurring financial charges | 65 | €932 | €995 | +€63 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €65,548 | €61,223 | -€4,326 | -6.6% |
| Income taxes | 67/77 | €18,752 | €16,986 | -€1,766 | -9.4% |
| Profit (loss) for the period | 9904 | €46,797 | €44,236 | -€2,560 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,797 | €44,236 | -€2,560 | -5.5% |
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.