ADFTRADING: 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.
ADFTRADING
Largest movements
- Receivables within one year -€67,326
down €67,326 (-32.8%), from €205,478 to €138,152
of which Other amounts receivable: -€68,464
- Stocks and contracts +€12,958
new in 2025: €12,958
- Profit (loss) carried forward -€52,131
down €52,131 (-44.0%), from €118,475 to €66,344
- Tax, wage and social debts -€12,522
down €12,522 (-84.6%), from €14,793 to €2,271
- Other debts +€10,152
up €10,152 (+15.6%), from €65,267 to €75,419
- Provisions +€103,068
new in 2025: €103,068
- Financial income -€35,285
down €35,285 (-23.2%), from €152,180 to €116,895
- Financial charges -€18,563
down €18,563 (-30.9%), from €60,084 to €41,521
- Taxes -€18,418
down €18,418, from €18,386 to -€32
- Gross operating margin -€1,029
down €1,029 (-4.5%), from -€22,856 to -€23,885
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 | €213,032 | €158,294 | -€54,738 | -25.7% |
| Current assets | 29/58 | €213,032 | €158,294 | -€54,738 | -25.7% |
| Stocks and contracts in progress | 3 | - | €12,958 | +€12,958 | |
| Stocks | 30/36 | - | €12,958 | +€12,958 | |
| Amounts receivable within one year | 40/41 | €205,478 | €138,152 | -€67,326 | -32.8% |
| Trade receivables | 40 | - | €1,138 | +€1,138 | |
| Other amounts receivable | 41 | €205,478 | €137,014 | -€68,464 | -33.3% |
| Cash at bank and in hand | 54/58 | €7,554 | €6,885 | -€669 | -8.9% |
| Deferred charges and accrued income | 490/1 | - | €299 | +€299 | |
| Total equity and liabilities | 10/49 | €213,032 | €158,294 | -€54,738 | -25.7% |
| Equity | 10/15 | €132,735 | €80,604 | -€52,131 | -39.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,475 | €66,344 | -€52,131 | -44.0% |
| Amounts payable | 17/49 | €80,297 | €77,690 | -€2,607 | -3.2% |
| Amounts payable within one year | 42/48 | €80,297 | €77,690 | -€2,607 | -3.2% |
| Trade debts | 44 | €237 | - | -€237 | |
| Suppliers | 440/4 | €237 | - | -€237 | |
| Taxes, remuneration and social security | 45 | €14,793 | €2,271 | -€12,522 | -84.6% |
| Taxes | 450/3 | €14,793 | €2,271 | -€12,522 | -84.6% |
| Other amounts payable | 47/48 | €65,267 | €75,419 | +€10,152 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €335 | - | -€335 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €103,068 | +€103,068 | |
| Other operating charges | 640/8 | €567 | €584 | +€17 | +3.0% |
| Gross operating margin | 9900 | -€22,856 | -€23,885 | -€1,029 | -4.5% |
| Operating profit (loss) | 9901 | -€23,758 | -€127,537 | -€103,779 | -436.8% |
| Financial income | 75/76B | €152,180 | €116,895 | -€35,285 | -23.2% |
| Recurring financial income | 75 | €152,180 | €116,895 | -€35,285 | -23.2% |
| Financial charges | 65/66B | €60,084 | €41,521 | -€18,563 | -30.9% |
| Recurring financial charges | 65 | €60,084 | €41,521 | -€18,563 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €68,338 | -€52,163 | -€120,501 | |
| Income taxes | 67/77 | €18,386 | -€32 | -€18,418 | |
| Profit (loss) for the period | 9904 | €49,952 | -€52,131 | -€102,083 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,952 | -€52,131 | -€102,083 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.