Adapteo: 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.
Adapteo
Largest movements
- Receivables within one year +€452,789
up €452,789 (+230.2%), from €196,665 to €649,454
of which Other amounts receivable: +€432,244
- Deferred charges and accrued income +€40,805
up €40,805 (+113.2%), from €36,047 to €76,853
- Tangible fixed assets -€10,541
down €10,541 (-48.1%), from €21,923 to €11,382
- Profit (loss) carried forward +€601,589
up €601,589, from -€338,501 to €263,088
- Short-term financial debts -€353,172
no longer reported in 2025 (was €353,172)
- Tax, wage and social debts +€126,237
up €126,237 (+222.9%), from €56,631 to €182,868
of which Taxes: +€108,681
- Other debts +€88,202
up €88,202 (+143.9%), from €61,274 to €149,476
- Trade debts +€46,608
up €46,608 (+210.9%), from €22,097 to €68,705
- Gross operating margin +€891,975
up €891,975 (+602.3%), from €148,100 to €1.0m
- Taxes +€117,624
up €117,624 (+26024.2%), from €452 to €118,076
- Staff costs +€102,402
up €102,402 (+59.9%), from €170,863 to €273,265
- Write-downs +€24,756
up €24,756, from -€8,632 to €16,124
- Financial charges -€14,955
down €14,955 (-54.2%), from €27,575 to €12,620
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 | €307,142 | €790,195 | +€483,053 | +157.3% |
| Fixed assets | 21/28 | €24,642 | €14,101 | -€10,541 | -42.8% |
| Tangible fixed assets | 22/27 | €21,923 | €11,382 | -€10,541 | -48.1% |
| Furniture and vehicles | 24 | €21,923 | €11,382 | -€10,541 | -48.1% |
| Financial fixed assets | 28 | €2,718 | €2,718 | = | 0.0% |
| Current assets | 29/58 | €282,500 | €776,095 | +€493,594 | +174.7% |
| Amounts receivable within one year | 40/41 | €196,665 | €649,454 | +€452,789 | +230.2% |
| Trade receivables | 40 | €196,519 | €217,065 | +€20,545 | +10.5% |
| Other amounts receivable | 41 | €145 | €432,389 | +€432,244 | +297688.6% |
| Cash at bank and in hand | 54/58 | €49,788 | €49,788 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €36,047 | €76,853 | +€40,805 | +113.2% |
| Total equity and liabilities | 10/49 | €307,142 | €790,195 | +€483,053 | +157.3% |
| Equity | 10/15 | -€277,001 | €330,738 | +€607,739 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €6,150 | +€6,150 | |
| Non-distributable reserves | 130/1 | - | €6,150 | +€6,150 | |
| Legal reserve | 130 | - | €6,150 | +€6,150 | |
| Profit (loss) carried forward | 14 | -€338,501 | €263,088 | +€601,589 | |
| Amounts payable | 17/49 | €584,143 | €459,457 | -€124,686 | -21.3% |
| Amounts payable within one year | 42/48 | €575,254 | €441,937 | -€133,317 | -23.2% |
| Financial debts | 43 | €353,172 | - | -€353,172 | |
| Credit institutions | 430/8 | €353,172 | - | -€353,172 | |
| Trade debts | 44 | €22,097 | €68,705 | +€46,608 | +210.9% |
| Suppliers | 440/4 | €22,097 | €68,705 | +€46,608 | +210.9% |
| Advances received on contracts in progress | 46 | €82,080 | €40,888 | -€41,192 | -50.2% |
| Taxes, remuneration and social security | 45 | €56,631 | €182,868 | +€126,237 | +222.9% |
| Taxes | 450/3 | €30,696 | €139,377 | +€108,681 | +354.1% |
| Remuneration and social security | 454/9 | €25,935 | €43,491 | +€17,556 | +67.7% |
| Other amounts payable | 47/48 | €61,274 | €149,476 | +€88,202 | +143.9% |
| Accrued charges and deferred income | 492/3 | €8,889 | €17,520 | +€8,631 | +97.1% |
| Non-recurring operating income | 76A | - | €5,543 | +€5,543 | |
| Remuneration, social security and pensions | 62 | €170,863 | €273,265 | +€102,402 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,161 | €9,084 | -€77 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,632 | €16,124 | +€24,756 | |
| Other operating charges | 640/8 | €14,981 | €3,166 | -€11,814 | -78.9% |
| Gross operating margin | 9900 | €148,100 | €1,040,075 | +€891,975 | +602.3% |
| Operating profit (loss) | 9901 | -€38,273 | €738,436 | +€776,708 | |
| Financial charges | 65/66B | €27,575 | €12,620 | -€14,955 | -54.2% |
| Recurring financial charges | 65 | €27,575 | €12,620 | -€14,955 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | -€65,848 | €725,815 | +€791,663 | |
| Income taxes | 67/77 | €452 | €118,076 | +€117,624 | +26024.2% |
| Profit (loss) for the period | 9904 | -€66,300 | €607,739 | +€674,039 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,300 | €607,739 | +€674,039 |
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 12 October 2026 via checked.be.