ADEQUATION MANAGEMENT: 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.
ADEQUATION MANAGEMENT
Largest movements
- Current investments -€5,784
down €5,784 (-11.7%), from €49,487 to €43,703
- Receivables within one year +€3,352
up €3,352 (+10,151%), from €33 to €3,385
of which Trade receivables: +€3,379
- Cash +€1,809
up €1,809 (+24.2%), from €7,468 to €9,278
mainly Current investments (+€5,784) and Other debts (+€3,277)
- Tangible fixed assets -€685
down €685 (-55.0%), from €1,245 to €560
- Other debts +€3,277
up €3,277 (+76.5%), from €4,283 to €7,560
- Accrued charges and deferred income -€2,970
down €2,970 (-42.4%), from €7,000 to €4,030
- Profit (loss) carried forward -€1,505
down €1,505 (-12.8%), from €11,774 to €10,269
- Financial charges -€17,457
down €17,457 (-98.0%), from €17,806 to €349
- Gross operating margin +€2,805
up €2,805, from -€1,409 to €1,396
- Financial income -€721
down €721 (-54.6%), from €1,320 to €599
- Depreciation -€238
down €238 (-25.7%), from €923 to €685
- Other operating charges -€171
down €171 (-43.7%), from €392 to €221
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,234 | €57,035 | -€1,198 | -2.1% |
| Fixed assets | 21/28 | €1,245 | €560 | -€685 | -55.0% |
| Tangible fixed assets | 22/27 | €1,245 | €560 | -€685 | -55.0% |
| Plant, machinery and equipment | 23 | €1,245 | €560 | -€685 | -55.0% |
| Current assets | 29/58 | €56,989 | €56,476 | -€513 | -0.9% |
| Amounts receivable within one year | 40/41 | €33 | €3,385 | +€3,352 | +10,151% |
| Trade receivables | 40 | - | €3,379 | +€3,379 | |
| Other amounts receivable | 41 | €33 | €6 | -€27 | -81.2% |
| Current investments | 50/53 | €49,487 | €43,703 | -€5,784 | -11.7% |
| Cash at bank and in hand | 54/58 | €7,468 | €9,278 | +€1,809 | +24.2% |
| Deferred charges and accrued income | 490/1 | - | €110 | +€110 | |
| Total equity and liabilities | 10/49 | €58,234 | €57,035 | -€1,198 | -2.1% |
| Equity | 10/15 | €46,951 | €45,445 | -€1,505 | -3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,977 | €28,977 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €27,117 | €27,117 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,774 | €10,269 | -€1,505 | -12.8% |
| Amounts payable | 17/49 | €11,283 | €11,590 | +€307 | +2.7% |
| Amounts payable within one year | 42/48 | €4,283 | €7,560 | +€3,277 | +76.5% |
| Other amounts payable | 47/48 | €4,283 | €7,560 | +€3,277 | +76.5% |
| Accrued charges and deferred income | 492/3 | €7,000 | €4,030 | -€2,970 | -42.4% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €923 | €685 | -€238 | -25.7% |
| Other operating charges | 640/8 | €392 | €221 | -€171 | -43.7% |
| Gross operating margin | 9900 | -€1,409 | €1,396 | +€2,805 | |
| Operating profit (loss) | 9901 | -€3,112 | €90 | +€3,202 | |
| Financial income | 75/76B | €1,320 | €599 | -€721 | -54.6% |
| Recurring financial income | 75 | €1,320 | €599 | -€721 | -54.6% |
| Financial charges | 65/66B | €17,806 | €349 | -€17,457 | -98.0% |
| Recurring financial charges | 65 | €17,806 | €349 | -€17,457 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,597 | €340 | +€19,938 | |
| Income taxes | 67/77 | €162 | €180 | +€18 | +11.0% |
| Profit (loss) for the period | 9904 | -€19,759 | €161 | +€19,920 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,759 | €161 | +€19,920 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.