ADARTHA: 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.
ADARTHA
Largest movements
- Cash +€108,700
up €108,700 (+173.4%), from €62,695 to €171,395
mainly Depreciation (+€83,529) and Net result for the year (+€65,768)
- Tangible fixed assets -€75,117
down €75,117 (-10.8%), from €694,445 to €619,328
of which Furniture and vehicles: -€40,002
- Reserves +€65,768
up €65,768 (+72.5%), from €90,709 to €156,477
- Other debts -€34,029
down €34,029 (-69.2%), from €49,162 to €15,133
- Debts after one year -€20,163
down €20,163 (-4.2%), from €477,667 to €457,505
- Trade debts +€10,296
up €10,296 (+35.8%), from €28,731 to €39,027
- Tax, wage and social debts +€8,185
up €8,185 (+24.0%), from €34,132 to €42,317
of which Taxes: +€5,017
- Gross operating margin -€63,881
down €63,881 (-18.2%), from €350,154 to €286,273
- Staff costs -€36,270
down €36,270 (-28.9%), from €125,367 to €89,097
- Financial charges -€7,352
down €7,352 (-29.8%), from €24,656 to €17,304
- Depreciation +€5,887
up €5,887 (+7.6%), from €77,642 to €83,529
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 | €775,461 | €805,707 | +€30,246 | +3.9% |
| Fixed assets | 21/28 | €695,202 | €619,884 | -€75,317 | -10.8% |
| Intangible fixed assets | 21 | €756 | €556 | -€200 | -26.4% |
| Tangible fixed assets | 22/27 | €694,445 | €619,328 | -€75,117 | -10.8% |
| Land and buildings | 22 | €291,488 | €273,693 | -€17,794 | -6.1% |
| Plant, machinery and equipment | 23 | €224,358 | €207,037 | -€17,321 | -7.7% |
| Furniture and vehicles | 24 | €178,599 | €138,598 | -€40,002 | -22.4% |
| Current assets | 29/58 | €80,260 | €185,823 | +€105,563 | +131.5% |
| Stocks and contracts in progress | 3 | €10,770 | €7,340 | -€3,430 | -31.8% |
| Stocks | 30/36 | €10,770 | €7,340 | -€3,430 | -31.8% |
| Amounts receivable within one year | 40/41 | €6,259 | €6,547 | +€288 | +4.6% |
| Trade receivables | 40 | €4,294 | €6,237 | +€1,944 | +45.3% |
| Other amounts receivable | 41 | €1,965 | €309 | -€1,656 | -84.3% |
| Cash at bank and in hand | 54/58 | €62,695 | €171,395 | +€108,700 | +173.4% |
| Deferred charges and accrued income | 490/1 | €536 | €541 | +€5 | +0.9% |
| Total equity and liabilities | 10/49 | €775,461 | €805,707 | +€30,246 | +3.9% |
| Equity | 10/15 | €158,709 | €224,477 | +€65,768 | +41.4% |
| Contributions | 10/11 | €68,000 | €68,000 | = | 0.0% |
| Reserves | 13 | €90,709 | €156,477 | +€65,768 | +72.5% |
| Distributable reserves | 133 | €90,709 | €156,477 | +€65,768 | +72.5% |
| Amounts payable | 17/49 | €616,752 | €581,230 | -€35,522 | -5.8% |
| Amounts payable after more than one year | 17 | €477,667 | €457,505 | -€20,163 | -4.2% |
| Financial debts | 170/4 | €477,667 | €457,505 | -€20,163 | -4.2% |
| Amounts payable within one year | 42/48 | €134,986 | €122,654 | -€12,331 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €19,447 | €20,163 | +€715 | +3.7% |
| Trade debts | 44 | €28,731 | €39,027 | +€10,296 | +35.8% |
| Suppliers | 440/4 | €28,731 | €39,027 | +€10,296 | +35.8% |
| Advances received on contracts in progress | 46 | €3,513 | €6,014 | +€2,501 | +71.2% |
| Taxes, remuneration and social security | 45 | €34,132 | €42,317 | +€8,185 | +24.0% |
| Taxes | 450/3 | €10,783 | €15,800 | +€5,017 | +46.5% |
| Remuneration and social security | 454/9 | €23,349 | €26,517 | +€3,168 | +13.6% |
| Other amounts payable | 47/48 | €49,162 | €15,133 | -€34,029 | -69.2% |
| Accrued charges and deferred income | 492/3 | €4,099 | €1,072 | -€3,028 | -73.9% |
| Non-recurring operating income | 76A | €7,500 | €0 | -€7,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €125,367 | €89,097 | -€36,270 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,642 | €83,529 | +€5,887 | +7.6% |
| Other operating charges | 640/8 | €3,682 | €5,608 | +€1,926 | +52.3% |
| Gross operating margin | 9900 | €350,154 | €286,273 | -€63,881 | -18.2% |
| Operating profit (loss) | 9901 | €143,463 | €108,039 | -€35,424 | -24.7% |
| Financial income | 75/76B | €399 | €228 | -€170 | -42.7% |
| Recurring financial income | 75 | €399 | €228 | -€170 | -42.7% |
| Financial charges | 65/66B | €24,656 | €17,304 | -€7,352 | -29.8% |
| Recurring financial charges | 65 | €24,656 | €17,304 | -€7,352 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €119,205 | €90,963 | -€28,242 | -23.7% |
| Income taxes | 67/77 | €28,496 | €25,195 | -€3,301 | -11.6% |
| Profit (loss) for the period | 9904 | €90,709 | €65,768 | -€24,941 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,709 | €65,768 | -€24,941 | -27.5% |
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 7 October 2026 via checked.be.