ADEXCO: 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.
ADEXCO
Largest movements
- Tangible fixed assets +€19,761
up €19,761 (+520.3%), from €3,798 to €23,559
of which Furniture and vehicles: +€20,439
- Receivables within one year -€6,971
down €6,971 (-47.0%), from €14,822 to €7,851
of which Other amounts receivable: -€6,771
- Cash -€6,813
down €6,813 (-65.7%), from €10,368 to €3,556
mainly Net result for the year (-€29,584) and Investment in fixed assets (net) (-€21,734)
- Profit (loss) carried forward -€29,584
new in 2022: -€29,584
- Debts after one year +€14,467
new in 2022: €14,467
- Tax, wage and social debts +€11,013
up €11,013 (+119.3%), from €9,231 to €20,244
- Current portion of long-term debt +€3,731
new in 2022: €3,731
- Trade debts +€3,392
up €3,392 (+114.2%), from €2,969 to €6,360
- Gross operating margin -€19,305
down €19,305, from €3,313 to -€15,992
- Other operating charges +€6,909
up €6,909 (+1265.7%), from €546 to €7,455
- Financial charges +€2,473
up €2,473 (+430.1%), from €575 to €3,048
- Depreciation +€1,310
up €1,310 (+197.6%), from €663 to €1,973
- Financial income -€432
no longer reported in 2022 (was €432)
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,196 | €36,142 | +€5,946 | +19.7% |
| Fixed assets | 21/28 | €3,798 | €23,559 | +€19,761 | +520.3% |
| Tangible fixed assets | 22/27 | €3,798 | €23,559 | +€19,761 | +520.3% |
| Plant, machinery and equipment | 23 | €2,823 | €2,145 | -€677 | -24.0% |
| Furniture and vehicles | 24 | €975 | €21,414 | +€20,439 | +2096.0% |
| Current assets | 29/58 | €26,398 | €12,583 | -€13,815 | -52.3% |
| Amounts receivable within one year | 40/41 | €14,822 | €7,851 | -€6,971 | -47.0% |
| Trade receivables | 40 | €8,051 | €7,851 | -€199 | -2.5% |
| Other amounts receivable | 41 | €6,771 | - | -€6,771 | |
| Cash at bank and in hand | 54/58 | €10,368 | €3,556 | -€6,813 | -65.7% |
| Deferred charges and accrued income | 490/1 | €1,207 | €1,176 | -€31 | -2.6% |
| Total equity and liabilities | 10/49 | €30,196 | €36,142 | +€5,946 | +19.7% |
| Equity | 10/15 | €17,996 | -€11,588 | -€29,584 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,596 | €5,596 | = | 0.0% |
| Distributable reserves | 133 | €5,596 | €5,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€29,584 | -€29,584 | |
| Amounts payable | 17/49 | €12,200 | €47,730 | +€35,531 | +291.2% |
| Amounts payable after more than one year | 17 | - | €14,467 | +€14,467 | |
| Financial debts | 170/4 | - | €14,467 | +€14,467 | |
| Amounts payable within one year | 42/48 | €12,200 | €33,263 | +€21,063 | +172.7% |
| Current portion of amounts payable after more than one year | 42 | - | €3,731 | +€3,731 | |
| Trade debts | 44 | €2,969 | €6,360 | +€3,392 | +114.2% |
| Suppliers | 440/4 | €2,969 | €6,360 | +€3,392 | +114.2% |
| Taxes, remuneration and social security | 45 | €9,231 | €20,244 | +€11,013 | +119.3% |
| Taxes | 450/3 | €9,231 | €20,244 | +€11,013 | +119.3% |
| Other amounts payable | 47/48 | - | €2,928 | +€2,928 | |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €663 | €1,973 | +€1,310 | +197.6% |
| Other operating charges | 640/8 | €546 | €7,455 | +€6,909 | +1265.7% |
| Gross operating margin | 9900 | €3,313 | -€15,992 | -€19,305 | |
| Operating profit (loss) | 9901 | €2,104 | -€25,420 | -€27,524 | |
| Financial income | 75/76B | €432 | - | -€432 | |
| Recurring financial income | 75 | €432 | - | -€432 | |
| Financial charges | 65/66B | €575 | €3,048 | +€2,473 | +430.1% |
| Recurring financial charges | 65 | €575 | €3,048 | +€2,473 | +430.1% |
| Profit (loss) for the period before taxes | 9903 | €1,962 | -€28,468 | -€30,430 | |
| Income taxes | 67/77 | €1,380 | €1,116 | -€263 | -19.1% |
| Profit (loss) for the period | 9904 | €582 | -€29,584 | -€30,166 | |
| Profit (loss) for the period to be appropriated | 9905 | €582 | -€29,584 | -€30,166 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.