ADF SMART SOLUTIONS: 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.
ADF SMART SOLUTIONS
Largest movements
- Cash +€31,763
up €31,763 (+58.9%), from €53,932 to €85,695
mainly Net result for the year (+€53,459) and Trade debts (+€7,172)
- Deferred charges and accrued income +€7,740
up €7,740 (+1,472%), from €526 to €8,266
- Receivables within one year +€6,918
up €6,918 (+29.0%), from €23,834 to €30,753
of which Other amounts receivable: +€4,963
- Tangible fixed assets +€4,764
up €4,764 (+246%), from €1,936 to €6,700
of which Other tangible fixed assets: +€2,969
- Reserves +€53,459
up €53,459 (+91.5%), from €58,446 to €111,905
- Other debts -€10,833
no longer reported in 2025 (was €10,833)
- Trade debts +€7,172
up €7,172 (+186%), from €3,866 to €11,038
- Tax, wage and social debts +€1,625
up €1,625 (+32.0%), from €5,078 to €6,703
- Gross operating margin -€20,213
down €20,213 (-22.4%), from €90,291 to €70,078
- Taxes -€3,501
down €3,501 (-18.1%), from €19,336 to €15,835
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 | €80,227 | €132,353 | +€52,126 | +65.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,936 | €7,640 | +€5,704 | +295% |
| Tangible fixed assets | 22/27 | €1,936 | €6,700 | +€4,764 | +246% |
| Furniture and vehicles | 24 | - | €1,796 | +€1,796 | |
| Other tangible fixed assets | 26 | €1,936 | €4,904 | +€2,969 | +153% |
| Financial fixed assets | 28 | - | €940 | +€940 | |
| Current assets | 29/58 | €78,292 | €124,713 | +€46,422 | +59.3% |
| Amounts receivable within one year | 40/41 | €23,834 | €30,753 | +€6,918 | +29.0% |
| Trade receivables | 40 | €12,598 | €14,553 | +€1,955 | +15.5% |
| Other amounts receivable | 41 | €11,236 | €16,200 | +€4,963 | +44.2% |
| Cash at bank and in hand | 54/58 | €53,932 | €85,695 | +€31,763 | +58.9% |
| Deferred charges and accrued income | 490/1 | €526 | €8,266 | +€7,740 | +1,472% |
| Total equity and liabilities | 10/49 | €80,227 | €132,353 | +€52,126 | +65.0% |
| Equity | 10/15 | €60,446 | €113,905 | +€53,459 | +88.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,446 | €111,905 | +€53,459 | +91.5% |
| Distributable reserves | 133 | €58,446 | €111,905 | +€53,459 | +91.5% |
| Amounts payable | 17/49 | €19,781 | €18,448 | -€1,333 | -6.7% |
| Amounts payable within one year | 42/48 | €19,777 | €18,444 | -€1,333 | -6.7% |
| Financial debts | 43 | - | €703 | +€703 | |
| Credit institutions | 430/8 | - | €703 | +€703 | |
| Trade debts | 44 | €3,866 | €11,038 | +€7,172 | +186% |
| Suppliers | 440/4 | €3,866 | €11,038 | +€7,172 | +186% |
| Taxes, remuneration and social security | 45 | €5,078 | €6,703 | +€1,625 | +32.0% |
| Taxes | 450/3 | €5,078 | €6,703 | +€1,625 | +32.0% |
| Other amounts payable | 47/48 | €10,833 | - | -€10,833 | |
| Accrued charges and deferred income | 492/3 | €5 | €5 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,145 | €730 | -€415 | -36.2% |
| Other operating charges | 640/8 | €685 | €556 | -€129 | -18.9% |
| Gross operating margin | 9900 | €90,291 | €70,078 | -€20,213 | -22.4% |
| Operating profit (loss) | 9901 | €88,461 | €68,792 | -€19,669 | -22.2% |
| Financial income | 75/76B | €201 | €687 | +€485 | +241% |
| Recurring financial income | 75 | €201 | €687 | +€485 | +241% |
| Financial charges | 65/66B | €48 | €185 | +€137 | +289% |
| Recurring financial charges | 65 | €48 | €185 | +€137 | +289% |
| Profit (loss) for the period before taxes | 9903 | €88,615 | €69,294 | -€19,321 | -21.8% |
| Income taxes | 67/77 | €19,336 | €15,835 | -€3,501 | -18.1% |
| Profit (loss) for the period | 9904 | €69,279 | €53,459 | -€15,819 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,279 | €53,459 | -€15,819 | -22.8% |
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 25 October 2026 via checked.be.