ADAR - PROJECTS: 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.
ADAR - PROJECTS
Largest movements
- Tangible fixed assets -€11,344
down €11,344 (-5.2%), from €217,704 to €206,360
- Receivables within one year -€9,500
down €9,500 (-3.5%), from €268,843 to €259,343
of which Other amounts receivable: -€6,324
- Stocks and contracts +€6,433
new in 2024: €6,433
of which Contracts in progress: +€6,423
- Debts after one year -€13,948
down €13,948 (-11.0%), from €127,029 to €113,081
- Short-term financial debts -€9,677
down €9,677 (-34.7%), from €27,850 to €18,173
- Profit (loss) carried forward +€8,457
up €8,457 (+2.8%), from €305,261 to €313,718
- Gross operating margin -€28,038
down €28,038 (-46.2%), from €60,649 to €32,611
- Write-downs -€26,686
no longer reported in 2024 (was €26,686)
- Depreciation -€3,980
down €3,980 (-26.0%), from €15,324 to €11,344
- Other operating charges -€1,309
down €1,309 (-54.0%), from €2,425 to €1,116
- Taxes +€1,121
up €1,121 (+100%), from €1,120 to €2,241
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €489,939 | €476,478 | -€13,460 | -2.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €217,774 | €206,430 | -€11,344 | -5.2% |
| Tangible fixed assets | 22/27 | €217,704 | €206,360 | -€11,344 | -5.2% |
| Land and buildings | 22 | €204,674 | €201,413 | -€3,261 | -1.6% |
| Plant, machinery and equipment | 23 | €9,889 | €4,481 | -€5,408 | -54.7% |
| Furniture and vehicles | 24 | €3,140 | €465 | -€2,676 | -85.2% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €272,165 | €270,049 | -€2,116 | -0.8% |
| Stocks and contracts in progress | 3 | - | €6,433 | +€6,433 | |
| Stocks | 30/36 | - | €10 | +€10 | |
| Contracts in progress | 37 | - | €6,423 | +€6,423 | |
| Amounts receivable within one year | 40/41 | €268,843 | €259,343 | -€9,500 | -3.5% |
| Trade receivables | 40 | €48,622 | €45,447 | -€3,175 | -6.5% |
| Other amounts receivable | 41 | €220,221 | €213,896 | -€6,324 | -2.9% |
| Cash at bank and in hand | 54/58 | €1,849 | €1,849 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,473 | €2,424 | +€951 | +64.6% |
| Total equity and liabilities | 10/49 | €489,939 | €476,478 | -€13,460 | -2.7% |
| Equity | 10/15 | €313,504 | €321,961 | +€8,457 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,043 | €2,043 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,043 | €2,043 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,043 | €2,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €305,261 | €313,718 | +€8,457 | +2.8% |
| Amounts payable | 17/49 | €176,435 | €154,518 | -€21,917 | -12.4% |
| Amounts payable after more than one year | 17 | €127,029 | €113,081 | -€13,948 | -11.0% |
| Financial debts | 170/4 | €127,029 | €113,081 | -€13,948 | -11.0% |
| Amounts payable within one year | 42/48 | €49,406 | €41,437 | -€7,969 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €13,620 | €13,948 | +€328 | +2.4% |
| Financial debts | 43 | €27,850 | €18,173 | -€9,677 | -34.7% |
| Credit institutions | 430/8 | €27,850 | €18,173 | -€9,677 | -34.7% |
| Trade debts | 44 | €7,842 | €8,704 | +€862 | +11.0% |
| Suppliers | 440/4 | €7,842 | €8,704 | +€862 | +11.0% |
| Taxes, remuneration and social security | 45 | €94 | €312 | +€218 | +232% |
| Taxes | 450/3 | €94 | €312 | +€218 | +232% |
| Other amounts payable | 47/48 | - | €300 | +€300 | |
| Non-recurring operating income | 76A | €565 | €682 | +€118 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €11,344 | -€3,980 | -26.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,686 | - | -€26,686 | |
| Other operating charges | 640/8 | €2,425 | €1,116 | -€1,309 | -54.0% |
| Gross operating margin | 9900 | €60,649 | €32,611 | -€28,038 | -46.2% |
| Operating profit (loss) | 9901 | €16,214 | €20,151 | +€3,936 | +24.3% |
| Financial income | 75/76B | €60 | - | -€60 | |
| Recurring financial income | 75 | €60 | - | -€60 | |
| Financial charges | 65/66B | €8,435 | €9,452 | +€1,018 | +12.1% |
| Recurring financial charges | 65 | €8,435 | €9,452 | +€1,018 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €7,840 | €10,698 | +€2,859 | +36.5% |
| Income taxes | 67/77 | €1,120 | €2,241 | +€1,121 | +100% |
| Profit (loss) for the period | 9904 | €6,719 | €8,457 | +€1,737 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,719 | €8,457 | +€1,737 | +25.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.