ADB-PROJECTS: 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.
ADB-PROJECTS
Largest movements
- Receivables within one year -€15,584
down €15,584 (-92.2%), from €16,907 to €1,323
of which Other amounts receivable: -€11,731
- Cash +€11,922
up €11,922 (+502.7%), from €2,371 to €14,293
mainly Receivables within one year (+€15,584) and Depreciation (+€15,223)
- Tangible fixed assets +€9,777
up €9,777 (+32.9%), from €29,676 to €39,454
of which Furniture and vehicles: +€20,089
- Financial fixed assets +€600
new in 2025: €600
- Debts after one year -€5,524
down €5,524 (-40.8%), from €13,553 to €8,029
- Other debts +€4,174
new in 2025: €4,174
- Trade debts +€3,761
up €3,761, from €0 to €3,761
- Profit (loss) carried forward +€2,276
new in 2025: €2,276
- Tax, wage and social debts +€1,933
new in 2025: €1,933
of which Taxes: +€1,715
- Gross operating margin +€4,198
up €4,198 (+24.0%), from €17,505 to €21,703
- Taxes +€1,715
new in 2025: €1,715
- Other operating charges +€662
up €662 (+52.0%), from €1,272 to €1,934
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 | €48,955 | €55,764 | +€6,809 | +13.9% |
| Fixed assets | 21/28 | €29,676 | €40,054 | +€10,377 | +35.0% |
| Tangible fixed assets | 22/27 | €29,676 | €39,454 | +€9,777 | +32.9% |
| Plant, machinery and equipment | 23 | €3,095 | €395 | -€2,700 | -87.2% |
| Furniture and vehicles | 24 | €10,774 | €30,863 | +€20,089 | +186.5% |
| Leasing and similar rights | 25 | €15,808 | €8,196 | -€7,612 | -48.2% |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €19,279 | €15,710 | -€3,568 | -18.5% |
| Amounts receivable within one year | 40/41 | €16,907 | €1,323 | -€15,584 | -92.2% |
| Trade receivables | 40 | €4,191 | €338 | -€3,853 | -91.9% |
| Other amounts receivable | 41 | €12,717 | €986 | -€11,731 | -92.2% |
| Cash at bank and in hand | 54/58 | €2,371 | €14,293 | +€11,922 | +502.7% |
| Deferred charges and accrued income | 490/1 | - | €94 | +€94 | |
| Total equity and liabilities | 10/49 | €48,955 | €55,764 | +€6,809 | +13.9% |
| Equity | 10/15 | €29,573 | €31,850 | +€2,276 | +7.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,573 | €26,573 | = | 0.0% |
| Distributable reserves | 133 | €26,573 | €26,573 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €2,276 | +€2,276 | |
| Amounts payable | 17/49 | €19,382 | €23,914 | +€4,532 | +23.4% |
| Amounts payable after more than one year | 17 | €13,553 | €8,029 | -€5,524 | -40.8% |
| Financial debts | 170/4 | €13,553 | €8,029 | -€5,524 | -40.8% |
| Amounts payable within one year | 42/48 | €5,829 | €15,886 | +€10,057 | +172.5% |
| Current portion of amounts payable after more than one year | 42 | €5,829 | €6,018 | +€189 | +3.2% |
| Trade debts | 44 | €0 | €3,761 | +€3,761 | |
| Suppliers | 440/4 | €0 | €3,761 | +€3,761 | |
| Taxes, remuneration and social security | 45 | - | €1,933 | +€1,933 | |
| Taxes | 450/3 | - | €1,715 | +€1,715 | |
| Remuneration and social security | 454/9 | - | €218 | +€218 | |
| Other amounts payable | 47/48 | - | €4,174 | +€4,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,215 | €15,223 | +€7 | 0.0% |
| Other operating charges | 640/8 | €1,272 | €1,934 | +€662 | +52.0% |
| Gross operating margin | 9900 | €17,505 | €21,703 | +€4,198 | +24.0% |
| Operating profit (loss) | 9901 | €1,017 | €4,546 | +€3,529 | +347.0% |
| Financial income | 75/76B | €56 | €251 | +€195 | +346.5% |
| Recurring financial income | 75 | €56 | €251 | +€195 | +346.5% |
| Financial charges | 65/66B | €835 | €805 | -€30 | -3.6% |
| Recurring financial charges | 65 | €835 | €805 | -€30 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €238 | €3,992 | +€3,753 | +1576.7% |
| Income taxes | 67/77 | - | €1,715 | +€1,715 | |
| Profit (loss) for the period | 9904 | €238 | €2,276 | +€2,038 | +856.2% |
| Profit (loss) for the period to be appropriated | 9905 | €238 | €2,276 | +€2,038 | +856.2% |
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 8 October 2026 via checked.be.