ADELTOING: 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.
ADELTOING
Largest movements
- Tangible fixed assets -€127,674
down €127,674 (-8.8%), from €1.4m to €1.3m
of which Plant, machinery and equipment: -€804,925
- Stocks and contracts +€111,614
up €111,614 (+16.9%), from €660,460 to €772,074
- Cash +€34,633
up €34,633 (+8.9%), from €390,595 to €425,228
mainly Net result for the year (+€384,227) and Depreciation (+€127,674)
- Debts after one year -€311,061
down €311,061 (-33.0%), from €943,046 to €631,985
of which Financial debts: -€202,061
- Profit (loss) carried forward +€254,227
up €254,227 (+39.5%), from €643,966 to €898,193
- Other debts +€114,801
up €114,801 (+755%), from €15,199 to €130,000
- Tax, wage and social debts -€34,776
down €34,776 (-20.1%), from €173,006 to €138,230
of which Taxes: -€34,746
- Gross operating margin +€129,279
up €129,279 (+11.6%), from €1.1m to €1.2m
- Taxes +€38,848
up €38,848 (+40.7%), from €95,430 to €134,278
- Staff costs +€33,730
up €33,730 (+6.4%), from €530,508 to €564,238
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 | €2,582,162 | €2,622,854 | +€40,692 | +1.6% |
| Formation expenses | 20 | €3,213 | - | -€3,213 | |
| Fixed assets | 21/28 | €1,447,441 | €1,319,768 | -€127,674 | -8.8% |
| Tangible fixed assets | 22/27 | €1,445,941 | €1,318,268 | -€127,674 | -8.8% |
| Land and buildings | 22 | - | €729,344 | +€729,344 | |
| Plant, machinery and equipment | 23 | €804,925 | - | -€804,925 | |
| Other tangible fixed assets | 26 | €641,017 | €588,924 | -€52,093 | -8.1% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €1,131,507 | €1,303,086 | +€171,579 | +15.2% |
| Stocks and contracts in progress | 3 | €660,460 | €772,074 | +€111,614 | +16.9% |
| Stocks | 30/36 | €660,460 | €772,074 | +€111,614 | +16.9% |
| Amounts receivable within one year | 40/41 | €80,452 | €102,481 | +€22,029 | +27.4% |
| Trade receivables | 40 | €80,452 | €77,981 | -€2,471 | -3.1% |
| Other amounts receivable | 41 | - | €24,500 | +€24,500 | |
| Cash at bank and in hand | 54/58 | €390,595 | €425,228 | +€34,633 | +8.9% |
| Deferred charges and accrued income | 490/1 | - | €3,303 | +€3,303 | |
| Total equity and liabilities | 10/49 | €2,582,162 | €2,622,854 | +€40,692 | +1.6% |
| Equity | 10/15 | €715,466 | €969,693 | +€254,227 | +35.5% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | - | €6,500 | +€6,500 | |
| Reserves not available under the articles | 1311 | €6,500 | - | -€6,500 | |
| Profit (loss) carried forward | 14 | €643,966 | €898,193 | +€254,227 | +39.5% |
| Amounts payable | 17/49 | €1,866,695 | €1,653,161 | -€213,535 | -11.4% |
| Amounts payable after more than one year | 17 | €943,046 | €631,985 | -€311,061 | -33.0% |
| Financial debts | 170/4 | €834,046 | €631,985 | -€202,061 | -24.2% |
| Other amounts payable | 178/9 | €109,000 | - | -€109,000 | |
| Amounts payable within one year | 42/48 | €923,649 | €1,020,410 | +€96,761 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €200,278 | €202,061 | +€1,783 | +0.9% |
| Trade debts | 44 | €535,166 | €550,119 | +€14,953 | +2.8% |
| Suppliers | 440/4 | €535,166 | €550,119 | +€14,953 | +2.8% |
| Taxes, remuneration and social security | 45 | €173,006 | €138,230 | -€34,776 | -20.1% |
| Taxes | 450/3 | €62,163 | €27,417 | -€34,746 | -55.9% |
| Remuneration and social security | 454/9 | €110,843 | €110,813 | -€30 | 0.0% |
| Other amounts payable | 47/48 | €15,199 | €130,000 | +€114,801 | +755% |
| Accrued charges and deferred income | 492/3 | - | €766 | +€766 | |
| Non-recurring operating income | 76A | €538 | - | -€538 | |
| Remuneration, social security and pensions | 62 | €530,508 | €564,238 | +€33,730 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,256 | €127,674 | -€582 | -0.5% |
| Other operating charges | 640/8 | €8,233 | €13,961 | +€5,728 | +69.6% |
| Gross operating margin | 9900 | €1,114,695 | €1,243,974 | +€129,279 | +11.6% |
| Operating profit (loss) | 9901 | €447,698 | €538,101 | +€90,403 | +20.2% |
| Financial income | 75/76B | €467 | €750 | +€282 | +60.5% |
| Recurring financial income | 75 | €467 | €750 | +€282 | +60.5% |
| Financial charges | 65/66B | €23,058 | €20,345 | -€2,713 | -11.8% |
| Recurring financial charges | 65 | €23,058 | €20,345 | -€2,713 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €425,107 | €518,505 | +€93,398 | +22.0% |
| Income taxes | 67/77 | €95,430 | €134,278 | +€38,848 | +40.7% |
| Profit (loss) for the period | 9904 | €329,677 | €384,227 | +€54,550 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €329,677 | €384,227 | +€54,550 | +16.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.