Adaptive: 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.
Adaptive
Largest movements
- Intangible fixed assets +€146,708
up €146,708 (+21.8%), from €674,421 to €821,129
- Receivables within one year +€16,609
up €16,609 (+18.6%), from €89,177 to €105,786
of which Trade receivables: +€17,612
- Profit (loss) carried forward +€219,549
up €219,549 (+41.1%), from -€533,548 to -€313,999
- Short-term financial debts -€55,347
down €55,347 (-33.9%), from €163,049 to €107,702
- Trade debts -€11,939
down €11,939 (-20.2%), from €59,121 to €47,182
- Gross operating margin +€506,302
up €506,302 (+106%), from €475,628 to €981,931
- Turnover +€203,242
up €203,242 (+18.9%), from €1.1m to €1.3m
- Purchases and services -€151,955
down €151,955 (-19.5%), from €780,990 to €629,035
- Depreciation +€33,207
up €33,207 (+23.1%), from €143,792 to €176,999
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €787,270 | €946,471 | +€159,201 | +20.2% |
| Fixed assets | 21/28 | €685,818 | €832,718 | +€146,899 | +21.4% |
| Intangible fixed assets | 21 | €674,421 | €821,129 | +€146,708 | +21.8% |
| Tangible fixed assets | 22/27 | €11,397 | €11,588 | +€191 | +1.7% |
| Furniture and vehicles | 24 | €11,397 | €11,588 | +€191 | +1.7% |
| Current assets | 29/58 | €101,452 | €113,754 | +€12,302 | +12.1% |
| Amounts receivable within one year | 40/41 | €89,177 | €105,786 | +€16,609 | +18.6% |
| Trade receivables | 40 | €88,173 | €105,786 | +€17,612 | +20.0% |
| Other amounts receivable | 41 | €1,003 | €0 | -€1,003 | -100% |
| Deferred charges and accrued income | 490/1 | €12,275 | €7,968 | -€4,307 | -35.1% |
| Total equity and liabilities | 10/49 | €787,270 | €946,471 | +€159,201 | +20.2% |
| Equity | 10/15 | €316,452 | €536,001 | +€219,549 | +69.4% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€533,548 | -€313,999 | +€219,549 | +41.1% |
| Amounts payable | 17/49 | €470,818 | €410,470 | -€60,349 | -12.8% |
| Amounts payable within one year | 42/48 | €325,992 | €262,593 | -€63,399 | -19.4% |
| Financial debts | 43 | €163,049 | €107,702 | -€55,347 | -33.9% |
| Credit institutions | 430/8 | €163,049 | €107,702 | -€55,347 | -33.9% |
| Trade debts | 44 | €59,121 | €47,182 | -€11,939 | -20.2% |
| Suppliers | 440/4 | €59,121 | €47,182 | -€11,939 | -20.2% |
| Taxes, remuneration and social security | 45 | €103,823 | €107,709 | +€3,887 | +3.7% |
| Taxes | 450/3 | €38,543 | €41,151 | +€2,608 | +6.8% |
| Remuneration and social security | 454/9 | €65,280 | €66,558 | +€1,278 | +2.0% |
| Accrued charges and deferred income | 492/3 | €144,826 | €147,876 | +€3,050 | +2.1% |
| Turnover | 70 | €1,073,890 | €1,277,133 | +€203,242 | +18.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €780,990 | €629,035 | -€151,955 | -19.5% |
| Remuneration, social security and pensions | 62 | €570,630 | €569,413 | -€1,216 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,792 | €176,999 | +€33,207 | +23.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €296 | €236 | -€60 | -20.2% |
| Gross operating margin | 9900 | €475,628 | €981,931 | +€506,302 | +106% |
| Operating profit (loss) | 9901 | -€239,089 | €235,283 | +€474,372 | |
| Financial income | 75/76B | €228 | €407 | +€179 | +78.7% |
| Recurring financial income | 75 | €228 | €407 | +€179 | +78.7% |
| Financial charges | 65/66B | €12,576 | €14,614 | +€2,038 | +16.2% |
| Recurring financial charges | 65 | €12,576 | €14,614 | +€2,038 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€251,438 | €221,076 | +€472,513 | |
| Income taxes | 67/77 | €297 | €1,526 | +€1,230 | +415% |
| Profit (loss) for the period | 9904 | -€251,734 | €219,549 | +€471,284 | |
| Profit (loss) for the period to be appropriated | 9905 | -€251,734 | €219,549 | +€471,284 |
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 13 October 2026 via checked.be.