ADEXPRO: 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.
ADEXPRO
Largest movements
- Cash +€32,540
up €32,540 (+119%), from €27,437 to €59,977
mainly Net result for the year (+€24,874) and Depreciation (+€21,186)
- Tangible fixed assets -€21,186
down €21,186 (-28.9%), from €73,309 to €52,123
of which Furniture and vehicles: -€18,982
- Receivables within one year +€11,868
up €11,868 (+140%), from €8,453 to €20,321
of which Other amounts receivable: +€14,330
- Reserves +€24,874
up €24,874 (+11.8%), from €210,278 to €235,151
- Other debts -€4,366
down €4,366 (-100%), from €4,366 to €0
- Gross operating margin -€36,456
down €36,456 (-37.9%), from €96,151 to €59,695
- Taxes -€12,301
down €12,301 (-47.5%), from €25,924 to €13,623
- Financial income -€971
down €971 (-30.7%), from €3,166 to €2,196
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 | €234,616 | €257,867 | +€23,251 | +9.9% |
| Fixed assets | 21/28 | €73,314 | €52,128 | -€21,186 | -28.9% |
| Tangible fixed assets | 22/27 | €73,309 | €52,123 | -€21,186 | -28.9% |
| Land and buildings | 22 | €5,292 | €3,087 | -€2,204 | -41.7% |
| Furniture and vehicles | 24 | €68,017 | €49,036 | -€18,982 | -27.9% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €161,302 | €205,739 | +€44,437 | +27.5% |
| Amounts receivable within one year | 40/41 | €8,453 | €20,321 | +€11,868 | +140% |
| Trade receivables | 40 | €8,330 | €5,867 | -€2,462 | -29.6% |
| Other amounts receivable | 41 | €123 | €14,454 | +€14,330 | +11,625% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,437 | €59,977 | +€32,540 | +119% |
| Deferred charges and accrued income | 490/1 | €411 | €441 | +€29 | +7.1% |
| Total equity and liabilities | 10/49 | €234,616 | €257,867 | +€23,251 | +9.9% |
| Equity | 10/15 | €228,828 | €253,701 | +€24,874 | +10.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €210,278 | €235,151 | +€24,874 | +11.8% |
| Distributable reserves | 133 | €210,278 | €235,151 | +€24,874 | +11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,788 | €4,166 | -€1,622 | -28.0% |
| Amounts payable within one year | 42/48 | €5,788 | €4,166 | -€1,622 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €601 | €2,659 | +€2,059 | +343% |
| Suppliers | 440/4 | €601 | €2,659 | +€2,059 | +343% |
| Taxes, remuneration and social security | 45 | €821 | €1,506 | +€685 | +83.4% |
| Taxes | 450/3 | €821 | €1,506 | +€685 | +83.4% |
| Other amounts payable | 47/48 | €4,366 | €0 | -€4,366 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,768 | €21,186 | +€418 | +2.0% |
| Other operating charges | 640/8 | €2,178 | €2,073 | -€106 | -4.8% |
| Gross operating margin | 9900 | €96,151 | €59,695 | -€36,456 | -37.9% |
| Operating profit (loss) | 9901 | €73,204 | €36,437 | -€36,768 | -50.2% |
| Financial income | 75/76B | €3,166 | €2,196 | -€971 | -30.7% |
| Recurring financial income | 75 | €3,166 | €2,196 | -€971 | -30.7% |
| Financial charges | 65/66B | €504 | €135 | -€369 | -73.2% |
| Recurring financial charges | 65 | €504 | €135 | -€369 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | €75,866 | €38,497 | -€37,370 | -49.3% |
| Income taxes | 67/77 | €25,924 | €13,623 | -€12,301 | -47.5% |
| Profit (loss) for the period | 9904 | €49,942 | €24,874 | -€25,068 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,942 | €24,874 | -€25,068 | -50.2% |
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 28 October 2026 via checked.be.