Adaro: 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.
Adaro
Largest movements
- Tangible fixed assets +€42,233
up €42,233 (+1,368%), from €3,088 to €45,321
of which Other tangible fixed assets: +€36,260
- Stocks and contracts +€35,300
up €35,300 (+19.4%), from €181,969 to €217,268
- Receivables within one year +€11,361
up €11,361 (+209%), from €5,427 to €16,788
of which Trade receivables: +€11,361
- Short-term financial debts +€30,472
up €30,472 (+152%), from €20,000 to €50,472
of which Other loans: +€18,603
- Debts after one year +€28,473
up €28,473 (+57.5%), from €49,492 to €77,965
of which Financial debts: +€29,400
- Reserves +€23,963
up €23,963 (+48.7%), from €49,241 to €73,204
- Trade debts -€17,838
down €17,838 (-37.6%), from €47,475 to €29,637
- Tax, wage and social debts +€14,779
up €14,779 (+113%), from €13,074 to €27,852
- Gross operating margin +€18,372
up €18,372 (+64.0%), from €28,704 to €47,076
- Staff costs +€6,066
new in 2024: €6,066
- Taxes +€2,817
up €2,817 (+49.6%), from €5,681 to €8,498
- Financial income +€1,631
up €1,631 (+659%), from €247 to €1,878
- Depreciation +€998
up €998 (+45.4%), from €2,200 to €3,198
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 | €203,508 | €294,287 | +€90,779 | +44.6% |
| Fixed assets | 21/28 | €5,788 | €48,021 | +€42,233 | +730% |
| Tangible fixed assets | 22/27 | €3,088 | €45,321 | +€42,233 | +1,368% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,778 | €8,677 | +€6,899 | +388% |
| Furniture and vehicles | 24 | €1,310 | €383 | -€927 | -70.7% |
| Other tangible fixed assets | 26 | - | €36,260 | +€36,260 | |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €197,720 | €246,266 | +€48,546 | +24.6% |
| Stocks and contracts in progress | 3 | €181,969 | €217,268 | +€35,300 | +19.4% |
| Stocks | 30/36 | €181,969 | €217,268 | +€35,300 | +19.4% |
| Amounts receivable within one year | 40/41 | €5,427 | €16,788 | +€11,361 | +209% |
| Trade receivables | 40 | €5,427 | €16,788 | +€11,361 | +209% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €9,510 | €10,684 | +€1,174 | +12.3% |
| Deferred charges and accrued income | 490/1 | €814 | €1,525 | +€712 | +87.5% |
| Total equity and liabilities | 10/49 | €203,508 | €294,287 | +€90,779 | +44.6% |
| Equity | 10/15 | €69,241 | €93,204 | +€23,963 | +34.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €49,241 | €73,204 | +€23,963 | +48.7% |
| Distributable reserves | 133 | €49,241 | €73,204 | +€23,963 | +48.7% |
| Amounts payable | 17/49 | €134,266 | €201,083 | +€66,816 | +49.8% |
| Amounts payable after more than one year | 17 | €49,492 | €77,965 | +€28,473 | +57.5% |
| Financial debts | 170/4 | - | €29,400 | +€29,400 | |
| Other amounts payable | 178/9 | €49,492 | €48,565 | -€927 | -1.9% |
| Amounts payable within one year | 42/48 | €80,549 | €119,215 | +€38,666 | +48.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | €11,253 | +€11,253 | |
| Financial debts | 43 | €20,000 | €50,472 | +€30,472 | +152% |
| Credit institutions | 430/8 | €0 | €11,869 | +€11,869 | |
| Other loans | 439 | €20,000 | €38,603 | +€18,603 | +93.0% |
| Trade debts | 44 | €47,475 | €29,637 | -€17,838 | -37.6% |
| Suppliers | 440/4 | €47,475 | €29,637 | -€17,838 | -37.6% |
| Taxes, remuneration and social security | 45 | €13,074 | €27,852 | +€14,779 | +113% |
| Taxes | 450/3 | €13,074 | €27,852 | +€14,779 | +113% |
| Accrued charges and deferred income | 492/3 | €4,226 | €3,903 | -€323 | -7.6% |
| Remuneration, social security and pensions | 62 | - | €6,066 | +€6,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,200 | €3,198 | +€998 | +45.4% |
| Other operating charges | 640/8 | €3,599 | €3,446 | -€153 | -4.2% |
| Non-recurring operating charges | 66A | - | €1,020 | +€1,020 | |
| Gross operating margin | 9900 | €28,704 | €47,076 | +€18,372 | +64.0% |
| Operating profit (loss) | 9901 | €22,905 | €33,346 | +€10,441 | +45.6% |
| Financial income | 75/76B | €247 | €1,878 | +€1,631 | +659% |
| Recurring financial income | 75 | €247 | €1,878 | +€1,631 | +659% |
| Financial charges | 65/66B | €2,022 | €2,763 | +€741 | +36.7% |
| Recurring financial charges | 65 | €2,022 | €2,763 | +€741 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €21,130 | €32,461 | +€11,330 | +53.6% |
| Income taxes | 67/77 | €5,681 | €8,498 | +€2,817 | +49.6% |
| Profit (loss) for the period | 9904 | €15,449 | €23,963 | +€8,513 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,449 | €23,963 | +€8,513 | +55.1% |
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 17 October 2026 via checked.be.