ADFINANCE BELGIUM: what changed
ADFINANCE BELGIUM
Largest movements
- Cash +€36,944
up €36,944 (+812%), from €4,548 to €41,492
mainly Other debts (+€216,334) and Depreciation (+€16,396)
- Tangible fixed assets -€16,396
down €16,396 (-6.0%), from €273,455 to €257,059
- Other debts +€216,334
up €216,334 (+7.7%), from €2.8m to €3.0m
- Profit (loss) carried forward -€216,119
down €216,119 (-7.4%), from -€2.9m to -€3.1m
- Advances received +€14,874
new in 2025: €14,874
- Trade debts +€5,774
up €5,774 (+264%), from €2,183 to €7,958
- Financial charges +€9,911
up €9,911 (+9.3%), from €106,858 to €116,769
- Gross operating margin -€7,269
down €7,269 (-10.5%), from -€69,198 to -€76,467
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,003 | €298,551 | +€20,548 | +7.4% |
| Fixed assets | 21/28 | €273,455 | €257,059 | -€16,396 | -6.0% |
| Tangible fixed assets | 22/27 | €273,455 | €257,059 | -€16,396 | -6.0% |
| Land and buildings | 22 | €198,167 | €193,158 | -€5,009 | -2.5% |
| Plant, machinery and equipment | 23 | €50,841 | €43,284 | -€7,557 | -14.9% |
| Furniture and vehicles | 24 | €24,447 | €20,617 | -€3,830 | -15.7% |
| Current assets | 29/58 | €4,548 | €41,492 | +€36,944 | +812% |
| Cash at bank and in hand | 54/58 | €4,548 | €41,492 | +€36,944 | +812% |
| Total equity and liabilities | 10/49 | €278,003 | €298,551 | +€20,548 | +7.4% |
| Equity | 10/15 | -€2,552,562 | -€2,768,682 | -€216,119 | -8.5% |
| Contributions | 10/11 | €360,000 | €360,000 | = | 0.0% |
| Capital | 10 | €360,000 | €360,000 | = | 0.0% |
| Issued capital | 100 | €360,000 | €360,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,912,562 | -€3,128,682 | -€216,119 | -7.4% |
| Amounts payable | 17/49 | €2,830,566 | €3,067,233 | +€236,667 | +8.4% |
| Amounts payable within one year | 42/48 | €2,830,566 | €3,067,233 | +€236,667 | +8.4% |
| Trade debts | 44 | €2,183 | €7,958 | +€5,774 | +264% |
| Suppliers | 440/4 | €2,183 | €7,958 | +€5,774 | +264% |
| Advances received on contracts in progress | 46 | - | €14,874 | +€14,874 | |
| Taxes, remuneration and social security | 45 | €2,026 | €1,712 | -€315 | -15.5% |
| Taxes | 450/3 | €2,026 | €1,712 | -€315 | -15.5% |
| Other amounts payable | 47/48 | €2,826,356 | €3,042,690 | +€216,334 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,408 | €16,396 | -€12 | -0.1% |
| Other operating charges | 640/8 | €6,178 | €6,488 | +€310 | +5.0% |
| Gross operating margin | 9900 | -€69,198 | -€76,467 | -€7,269 | -10.5% |
| Operating profit (loss) | 9901 | -€91,784 | -€99,351 | -€7,566 | -8.2% |
| Financial charges | 65/66B | €106,858 | €116,769 | +€9,911 | +9.3% |
| Recurring financial charges | 65 | €106,858 | €116,769 | +€9,911 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€198,642 | -€216,119 | -€17,477 | -8.8% |
| Profit (loss) for the period | 9904 | -€198,642 | -€216,119 | -€17,477 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€198,642 | -€216,119 | -€17,477 | -8.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.