ADFINCO: 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.
ADFINCO
Largest movements
- Receivables within one year +€55,014
up €55,014 (+44.1%), from €124,743 to €179,757
of which Trade receivables: +€55,040
- Tangible fixed assets -€27,113
down €27,113 (-5.1%), from €534,827 to €507,714
of which Furniture and vehicles: -€14,396
- Reserves +€75,000
up €75,000 (+5.3%), from €1.4m to €1.5m
of which Distributable reserves: +€75,000
- Debts after one year -€48,224
down €48,224 (-17.9%), from €270,018 to €221,794
- Tax, wage and social debts -€45,127
down €45,127 (-50.5%), from €89,377 to €44,249
- Other debts +€31,649
up €31,649 (+62.2%), from €50,910 to €82,558
- Financial income -€615,000
no longer reported in 2025 (was €615,000)
- Taxes -€47,038
down €47,038 (-41.0%), from €114,717 to €67,679
- Gross operating margin +€24,983
up €24,983 (+10.4%), from €239,537 to €264,519
- Other operating charges +€3,057
up €3,057 (+72.7%), from €4,205 to €7,262
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.
Cash bridge derived
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 | €1,894,960 | €1,910,679 | +€15,719 | +0.8% |
| Fixed assets | 21/28 | €1,027,827 | €1,000,714 | -€27,113 | -2.6% |
| Tangible fixed assets | 22/27 | €534,827 | €507,714 | -€27,113 | -5.1% |
| Land and buildings | 22 | €499,643 | €486,925 | -€12,717 | -2.5% |
| Furniture and vehicles | 24 | €35,184 | €20,789 | -€14,396 | -40.9% |
| Financial fixed assets | 28 | €493,000 | €493,000 | = | 0.0% |
| Current assets | 29/58 | €867,133 | €909,965 | +€42,832 | +4.9% |
| Amounts receivable after more than one year | 29 | €86,410 | €86,410 | = | 0.0% |
| Other amounts receivable | 291 | €86,410 | €86,410 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €124,743 | €179,757 | +€55,014 | +44.1% |
| Trade receivables | 40 | €124,718 | €179,757 | +€55,040 | +44.1% |
| Other amounts receivable | 41 | €25 | - | -€25 | |
| Cash at bank and in hand | 54/58 | €654,922 | €643,798 | -€11,124 | -1.7% |
| Deferred charges and accrued income | 490/1 | €1,058 | - | -€1,058 | |
| Total equity and liabilities | 10/49 | €1,894,960 | €1,910,679 | +€15,719 | +0.8% |
| Equity | 10/15 | €1,431,917 | €1,507,103 | +€75,186 | +5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,408,610 | €1,483,610 | +€75,000 | +5.3% |
| Tax-exempt reserves | 132 | €46,750 | €46,750 | = | 0.0% |
| Distributable reserves | 133 | €1,361,860 | €1,436,860 | +€75,000 | +5.5% |
| Profit (loss) carried forward | 14 | €17,107 | €17,293 | +€186 | +1.1% |
| Amounts payable | 17/49 | €463,043 | €403,576 | -€59,467 | -12.8% |
| Amounts payable after more than one year | 17 | €270,018 | €221,794 | -€48,224 | -17.9% |
| Financial debts | 170/4 | €270,018 | €221,794 | -€48,224 | -17.9% |
| Amounts payable within one year | 42/48 | €188,627 | €176,423 | -€12,204 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €47,761 | €48,224 | +€463 | +1.0% |
| Trade debts | 44 | €580 | €1,392 | +€812 | +139.9% |
| Suppliers | 440/4 | €580 | €1,392 | +€812 | +139.9% |
| Taxes, remuneration and social security | 45 | €89,377 | €44,249 | -€45,127 | -50.5% |
| Taxes | 450/3 | €89,377 | €44,249 | -€45,127 | -50.5% |
| Other amounts payable | 47/48 | €50,910 | €82,558 | +€31,649 | +62.2% |
| Accrued charges and deferred income | 492/3 | €4,398 | €5,358 | +€960 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,161 | €29,363 | +€1,203 | +4.3% |
| Other operating charges | 640/8 | €4,205 | €7,262 | +€3,057 | +72.7% |
| Gross operating margin | 9900 | €239,537 | €264,519 | +€24,983 | +10.4% |
| Operating profit (loss) | 9901 | €207,172 | €227,894 | +€20,723 | +10.0% |
| Financial income | 75/76B | €615,000 | - | -€615,000 | |
| Recurring financial income | 75 | €615,000 | - | -€615,000 | |
| Financial charges | 65/66B | €11,339 | €12,029 | +€691 | +6.1% |
| Recurring financial charges | 65 | €11,339 | €12,029 | +€691 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €810,833 | €215,865 | -€594,968 | -73.4% |
| Income taxes | 67/77 | €114,717 | €67,679 | -€47,038 | -41.0% |
| Profit (loss) for the period | 9904 | €696,116 | €148,186 | -€547,930 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €696,116 | €148,186 | -€547,930 | -78.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.