Adako: 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.
Adako
Largest movements
- Cash -€26,830
down €26,830 (-50.3%), from €53,341 to €26,511
mainly Accrued charges and deferred income (-€57,017) and Debts after one year (-€8,842)
- Tangible fixed assets -€13,340
down €13,340 (-12.8%), from €104,585 to €91,245
of which Land and buildings: -€8,931
- Receivables within one year -€6,739
down €6,739 (-8.9%), from €75,296 to €68,557
of which Trade receivables: -€6,216
- Accrued charges and deferred income -€57,017
down €57,017 (-98.3%), from €58,000 to €983
- Debts after one year -€8,842
down €8,842 (-10.7%), from €82,866 to €74,024
- Tax, wage and social debts +€8,434
up €8,434 (+93.2%), from €9,053 to €17,487
of which Taxes: +€8,559
- Reserves +€6,893
new in 2025: €6,893
- Trade debts +€3,331
up €3,331 (+4.9%), from €67,562 to €70,893
- Staff costs -€18,595
down €18,595 (-20.7%), from €89,632 to €71,037
- Gross operating margin -€7,812
down €7,812 (-6.8%), from €114,741 to €106,929
- Taxes +€2,306
up €2,306 (+100.2%), from €2,301 to €4,607
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 | €235,830 | €188,923 | -€46,907 | -19.9% |
| Fixed assets | 21/28 | €104,585 | €91,245 | -€13,340 | -12.8% |
| Tangible fixed assets | 22/27 | €104,585 | €91,245 | -€13,340 | -12.8% |
| Land and buildings | 22 | €95,249 | €86,318 | -€8,931 | -9.4% |
| Furniture and vehicles | 24 | €9,335 | €4,927 | -€4,408 | -47.2% |
| Current assets | 29/58 | €131,246 | €97,678 | -€33,568 | -25.6% |
| Amounts receivable within one year | 40/41 | €75,296 | €68,557 | -€6,739 | -8.9% |
| Trade receivables | 40 | €74,773 | €68,557 | -€6,216 | -8.3% |
| Other amounts receivable | 41 | €523 | - | -€523 | |
| Cash at bank and in hand | 54/58 | €53,341 | €26,511 | -€26,830 | -50.3% |
| Deferred charges and accrued income | 490/1 | €2,609 | €2,610 | +€1 | 0.0% |
| Total equity and liabilities | 10/49 | €235,830 | €188,923 | -€46,907 | -19.9% |
| Equity | 10/15 | €1,613 | €8,393 | +€6,780 | +420.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €6,893 | +€6,893 | |
| Distributable reserves | 133 | - | €6,893 | +€6,893 | |
| Profit (loss) carried forward | 14 | €113 | - | -€113 | |
| Amounts payable | 17/49 | €234,217 | €180,530 | -€53,687 | -22.9% |
| Amounts payable after more than one year | 17 | €82,866 | €74,024 | -€8,842 | -10.7% |
| Financial debts | 170/4 | €82,866 | €74,024 | -€8,842 | -10.7% |
| Amounts payable within one year | 42/48 | €93,351 | €105,523 | +€12,172 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €8,434 | €8,841 | +€407 | +4.8% |
| Trade debts | 44 | €67,562 | €70,893 | +€3,331 | +4.9% |
| Suppliers | 440/4 | €67,562 | €70,893 | +€3,331 | +4.9% |
| Taxes, remuneration and social security | 45 | €9,053 | €17,487 | +€8,434 | +93.2% |
| Taxes | 450/3 | €2,034 | €10,593 | +€8,559 | +420.7% |
| Remuneration and social security | 454/9 | €7,018 | €6,894 | -€124 | -1.8% |
| Other amounts payable | 47/48 | €8,302 | €8,302 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €58,000 | €983 | -€57,017 | -98.3% |
| Remuneration, social security and pensions | 62 | €89,632 | €71,037 | -€18,595 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,097 | €16,492 | -€605 | -3.5% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Non-recurring operating charges | 66A | €107 | €1,650 | +€1,543 | +1447.3% |
| Gross operating margin | 9900 | €114,741 | €106,929 | -€7,812 | -6.8% |
| Operating profit (loss) | 9901 | €7,906 | €17,688 | +€9,782 | +123.7% |
| Financial income | 75/76B | €207 | €2 | -€205 | -99.0% |
| Recurring financial income | 75 | €207 | €2 | -€205 | -99.0% |
| Financial charges | 65/66B | €5,777 | €6,303 | +€526 | +9.1% |
| Recurring financial charges | 65 | €5,777 | €6,303 | +€526 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €2,336 | €11,387 | +€9,051 | +387.5% |
| Income taxes | 67/77 | €2,301 | €4,607 | +€2,306 | +100.2% |
| Profit (loss) for the period | 9904 | €35 | €6,780 | +€6,745 | +19315.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35 | €6,780 | +€6,745 | +19315.8% |
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 5 October 2026 via checked.be.