ADAGE: 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.
ADAGE
Largest movements
- Tangible fixed assets -€8,143
down €8,143 (-16.7%), from €48,876 to €40,733
of which Furniture and vehicles: -€6,000
- Stocks and contracts +€7,750
up €7,750 (+6.9%), from €112,616 to €120,366
- Cash -€2,338
down €2,338 (-67.9%), from €3,441 to €1,103
mainly Short-term financial debts (-€12,058) and Stocks and contracts (-€7,750)
- Short-term financial debts -€12,058
down €12,058 (-73.2%), from €16,480 to €4,421
- Profit (loss) carried forward +€4,812
up €4,812 (+9.1%), from €53,043 to €57,854
- Tax, wage and social debts +€3,648
up €3,648 (+36.3%), from €10,051 to €13,698
of which Remuneration and social security: +€3,390
- Current portion of long-term debt -€2,718
no longer reported in 2025 (was €2,718)
- Other debts +€2,459
up €2,459 (+7.9%), from €31,248 to €33,707
- Gross operating margin -€3,459
down €3,459 (-7.2%), from €47,773 to €44,314
- Financial charges -€2,302
down €2,302 (-59.4%), from €3,876 to €1,575
- Taxes +€1,216
up €1,216 (+76.5%), from €1,589 to €2,805
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 | €165,080 | €162,349 | -€2,731 | -1.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €49,023 | €40,880 | -€8,143 | -16.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €48,876 | €40,733 | -€8,143 | -16.7% |
| Land and buildings | 22 | €39,760 | €37,870 | -€1,890 | -4.8% |
| Furniture and vehicles | 24 | €8,000 | €2,000 | -€6,000 | -75.0% |
| Other tangible fixed assets | 26 | €1,116 | €863 | -€253 | -22.6% |
| Financial fixed assets | 28 | €147 | €147 | = | 0.0% |
| Current assets | 29/58 | €116,057 | €121,469 | +€5,412 | +4.7% |
| Stocks and contracts in progress | 3 | €112,616 | €120,366 | +€7,750 | +6.9% |
| Stocks | 30/36 | €112,616 | €120,366 | +€7,750 | +6.9% |
| Cash at bank and in hand | 54/58 | €3,441 | €1,103 | -€2,338 | -67.9% |
| Total equity and liabilities | 10/49 | €165,080 | €162,349 | -€2,731 | -1.7% |
| Equity | 10/15 | €96,672 | €101,484 | +€4,812 | +5.0% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €18,840 | €18,840 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,487 | €1,487 | = | 0.0% |
| Distributable reserves | 133 | €14,874 | €14,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,043 | €57,854 | +€4,812 | +9.1% |
| Amounts payable | 17/49 | €68,408 | €60,866 | -€7,542 | -11.0% |
| Amounts payable within one year | 42/48 | €68,408 | €60,866 | -€7,542 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €2,718 | - | -€2,718 | |
| Financial debts | 43 | €16,480 | €4,421 | -€12,058 | -73.2% |
| Credit institutions | 430/8 | €16,480 | €4,421 | -€12,058 | -73.2% |
| Trade debts | 44 | €7,911 | €9,039 | +€1,128 | +14.3% |
| Suppliers | 440/4 | €7,911 | €9,039 | +€1,128 | +14.3% |
| Taxes, remuneration and social security | 45 | €10,051 | €13,698 | +€3,648 | +36.3% |
| Taxes | 450/3 | €8,706 | €8,964 | +€258 | +3.0% |
| Remuneration and social security | 454/9 | €1,344 | €4,734 | +€3,390 | +252% |
| Other amounts payable | 47/48 | €31,248 | €33,707 | +€2,459 | +7.9% |
| Remuneration, social security and pensions | 62 | €24,755 | €25,089 | +€334 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,037 | €8,143 | +€105 | +1.3% |
| Other operating charges | 640/8 | €1,717 | €1,926 | +€209 | +12.2% |
| Gross operating margin | 9900 | €47,773 | €44,314 | -€3,459 | -7.2% |
| Operating profit (loss) | 9901 | €13,264 | €9,157 | -€4,107 | -31.0% |
| Financial income | 75/76B | €30 | €35 | +€4 | +15.0% |
| Recurring financial income | 75 | €30 | €35 | +€4 | +15.0% |
| Financial charges | 65/66B | €3,876 | €1,575 | -€2,302 | -59.4% |
| Recurring financial charges | 65 | €3,876 | €1,575 | -€2,302 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €9,418 | €7,617 | -€1,801 | -19.1% |
| Income taxes | 67/77 | €1,589 | €2,805 | +€1,216 | +76.5% |
| Profit (loss) for the period | 9904 | €7,829 | €4,812 | -€3,017 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,829 | €4,812 | -€3,017 | -38.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.