ADBU: 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.
ADBU
Largest movements
- Tangible fixed assets -€110,597
down €110,597 (-6.0%), from €1.8m to €1.7m
of which Land and buildings: -€110,085
- Current investments +€104,000
up €104,000 (+27.1%), from €383,500 to €487,500
- Debts after one year -€129,206
down €129,206 (-71.3%), from €181,093 to €51,888
- Reserves +€77,544
up €77,544 (+5.5%), from €1.4m to €1.5m
of which Distributable reserves: +€95,695
- Trade debts +€60,000
up €60,000 (+49,480%), from €121 to €60,121
- Gross operating margin -€69,117
down €69,117 (-22.0%), from €314,671 to €245,554
- Taxes -€16,088
down €16,088 (-33.5%), from €47,986 to €31,898
- Depreciation -€5,719
down €5,719 (-4.9%), from €116,316 to €110,597
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 | €2,217,379 | €2,219,541 | +€2,161 | +0.1% |
| Fixed assets | 21/28 | €1,833,039 | €1,722,443 | -€110,597 | -6.0% |
| Tangible fixed assets | 22/27 | €1,833,039 | €1,722,443 | -€110,597 | -6.0% |
| Land and buildings | 22 | €1,831,653 | €1,721,568 | -€110,085 | -6.0% |
| Plant, machinery and equipment | 23 | €1,386 | €875 | -€512 | -36.9% |
| Current assets | 29/58 | €384,340 | €497,098 | +€112,758 | +29.3% |
| Amounts receivable within one year | 40/41 | - | €8,657 | +€8,657 | |
| Other amounts receivable | 41 | - | €8,657 | +€8,657 | |
| Current investments | 50/53 | €383,500 | €487,500 | +€104,000 | +27.1% |
| Cash at bank and in hand | 54/58 | €448 | €736 | +€288 | +64.3% |
| Deferred charges and accrued income | 490/1 | €392 | €204 | -€188 | -47.9% |
| Total equity and liabilities | 10/49 | €2,217,379 | €2,219,541 | +€2,161 | +0.1% |
| Equity | 10/15 | €1,824,372 | €1,901,916 | +€77,544 | +4.3% |
| Contributions | 10/11 | €406,100 | €406,100 | = | 0.0% |
| Reserves | 13 | €1,418,272 | €1,495,816 | +€77,544 | +5.5% |
| Tax-exempt reserves | 132 | €181,508 | €163,357 | -€18,151 | -10.0% |
| Distributable reserves | 133 | €1,236,764 | €1,332,458 | +€95,695 | +7.7% |
| Provisions and deferred taxes | 16 | €60,503 | €54,452 | -€6,050 | -10.0% |
| Deferred taxes | 168 | €60,503 | €54,452 | -€6,050 | -10.0% |
| Amounts payable | 17/49 | €332,505 | €263,172 | -€69,333 | -20.9% |
| Amounts payable after more than one year | 17 | €181,093 | €51,888 | -€129,206 | -71.3% |
| Financial debts | 170/4 | €181,093 | €51,888 | -€129,206 | -71.3% |
| Amounts payable within one year | 42/48 | €151,268 | €211,196 | +€59,928 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €127,489 | €129,206 | +€1,717 | +1.3% |
| Trade debts | 44 | €121 | €60,121 | +€60,000 | +49,480% |
| Suppliers | 440/4 | €121 | €60,121 | +€60,000 | +49,480% |
| Taxes, remuneration and social security | 45 | €23,658 | €21,869 | -€1,789 | -7.6% |
| Taxes | 450/3 | €23,658 | €21,869 | -€1,789 | -7.6% |
| Accrued charges and deferred income | 492/3 | €143 | €88 | -€54 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,316 | €110,597 | -€5,719 | -4.9% |
| Other operating charges | 640/8 | €28,853 | €29,754 | +€901 | +3.1% |
| Gross operating margin | 9900 | €314,671 | €245,554 | -€69,117 | -22.0% |
| Operating profit (loss) | 9901 | €169,502 | €105,203 | -€64,299 | -37.9% |
| Financial income | 75/76B | €1,504 | €1,852 | +€348 | +23.2% |
| Recurring financial income | 75 | €1,504 | €1,852 | +€348 | +23.2% |
| Financial charges | 65/66B | €5,355 | €3,663 | -€1,692 | -31.6% |
| Recurring financial charges | 65 | €5,355 | €3,663 | -€1,692 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €165,651 | €103,392 | -€62,259 | -37.6% |
| Transfer from deferred taxes | 780 | €6,410 | €6,050 | -€360 | -5.6% |
| Income taxes | 67/77 | €47,986 | €31,898 | -€16,088 | -33.5% |
| Profit (loss) for the period | 9904 | €124,075 | €77,544 | -€46,530 | -37.5% |
| Transfer from tax-exempt reserves | 789 | €19,230 | €18,151 | -€1,079 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €143,305 | €95,695 | -€47,610 | -33.2% |
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 16 October 2026 via checked.be.