ADAX 68: 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.
ADAX 68
Largest movements
- Cash +€22,640
up €22,640 (+72.8%), from €31,088 to €53,728
mainly Net result for the year (+€25,240) and Depreciation (+€4,330)
- Receivables within one year +€7,580
up €7,580 (+61.7%), from €12,294 to €19,874
- Tangible fixed assets -€4,330
down €4,330 (-34.4%), from €12,600 to €8,270
- Profit (loss) carried forward +€25,240
up €25,240 (+72.6%), from €34,752 to €59,992
- Gross operating margin +€20,419
up €20,419 (+193%), from €10,600 to €31,019
- Depreciation +€3,939
up €3,939 (+1,009%), from €390 to €4,330
- Taxes +€428
up €428 (+223%), from €192 to €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.
Derived cash bridge
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 | €55,981 | €81,871 | +€25,890 | +46.2% |
| Fixed assets | 21/28 | €12,600 | €8,270 | -€4,330 | -34.4% |
| Tangible fixed assets | 22/27 | €12,600 | €8,270 | -€4,330 | -34.4% |
| Furniture and vehicles | 24 | €12,600 | €8,270 | -€4,330 | -34.4% |
| Current assets | 29/58 | €43,382 | €73,601 | +€30,220 | +69.7% |
| Amounts receivable within one year | 40/41 | €12,294 | €19,874 | +€7,580 | +61.7% |
| Trade receivables | 40 | €12,294 | €19,874 | +€7,580 | +61.7% |
| Cash at bank and in hand | 54/58 | €31,088 | €53,728 | +€22,640 | +72.8% |
| Total equity and liabilities | 10/49 | €55,981 | €81,871 | +€25,890 | +46.2% |
| Equity | 10/15 | €53,352 | €78,592 | +€25,240 | +47.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,752 | €59,992 | +€25,240 | +72.6% |
| Amounts payable | 17/49 | €2,629 | €3,279 | +€650 | +24.7% |
| Amounts payable within one year | 42/48 | €2,629 | €3,279 | +€650 | +24.7% |
| Trade debts | 44 | €883 | €669 | -€214 | -24.2% |
| Suppliers | 440/4 | €883 | €669 | -€214 | -24.2% |
| Taxes, remuneration and social security | 45 | €1,521 | €2,313 | +€792 | +52.1% |
| Taxes | 450/3 | €1,521 | €2,313 | +€792 | +52.1% |
| Other amounts payable | 47/48 | €225 | €297 | +€72 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390 | €4,330 | +€3,939 | +1,009% |
| Other operating charges | 640/8 | €932 | €766 | -€167 | -17.9% |
| Gross operating margin | 9900 | €10,600 | €31,019 | +€20,419 | +193% |
| Operating profit (loss) | 9901 | €9,277 | €25,924 | +€16,647 | +179% |
| Financial charges | 65/66B | €46 | €64 | +€18 | +37.9% |
| Recurring financial charges | 65 | €46 | €64 | +€18 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €9,231 | €25,860 | +€16,629 | +180% |
| Income taxes | 67/77 | €192 | €620 | +€428 | +223% |
| Profit (loss) for the period | 9904 | €9,039 | €25,240 | +€16,202 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €9,039 | €25,240 | +€16,202 | +179% |
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.