ADGROS: 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.
ADGROS
Largest movements
- Cash +€19,909
up €19,909 (+181%), from €11,024 to €30,933
mainly Net result for the year (+€21,231) and Depreciation (+€16,853)
- Tangible fixed assets +€16,793
up €16,793 (+39.8%), from €42,201 to €58,993
of which Furniture and vehicles: +€16,750
- Receivables within one year -€10,919
down €10,919 (-20.2%), from €53,943 to €43,024
of which Trade receivables: -€14,014
- Stocks and contracts -€4,780
no longer reported in 2025 (was €4,780)
- Deferred charges and accrued income +€1,786
up €1,786 (+106%), from €1,685 to €3,471
- Reserves +€21,200
up €21,200 (+127%), from €16,660 to €37,860
of which Distributable reserves: +€21,200
- Gross operating margin +€14,282
up €14,282 (+48.4%), from €29,510 to €43,793
- Depreciation +€3,560
up €3,560 (+26.8%), from €13,293 to €16,853
- Other operating charges -€1,838
down €1,838 (-60.6%), from €3,032 to €1,194
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 | €113,632 | €136,421 | +€22,788 | +20.1% |
| Fixed assets | 21/28 | €42,201 | €58,993 | +€16,793 | +39.8% |
| Tangible fixed assets | 22/27 | €42,201 | €58,993 | +€16,793 | +39.8% |
| Plant, machinery and equipment | 23 | €5,489 | €5,532 | +€43 | +0.8% |
| Furniture and vehicles | 24 | €36,711 | €53,461 | +€16,750 | +45.6% |
| Current assets | 29/58 | €71,432 | €77,428 | +€5,996 | +8.4% |
| Stocks and contracts in progress | 3 | €4,780 | - | -€4,780 | |
| Stocks | 30/36 | €4,780 | - | -€4,780 | |
| Amounts receivable within one year | 40/41 | €53,943 | €43,024 | -€10,919 | -20.2% |
| Trade receivables | 40 | €51,874 | €37,860 | -€14,014 | -27.0% |
| Other amounts receivable | 41 | €2,069 | €5,164 | +€3,095 | +150% |
| Cash at bank and in hand | 54/58 | €11,024 | €30,933 | +€19,909 | +181% |
| Deferred charges and accrued income | 490/1 | €1,685 | €3,471 | +€1,786 | +106% |
| Total equity and liabilities | 10/49 | €113,632 | €136,421 | +€22,788 | +20.1% |
| Equity | 10/15 | €102,160 | €123,391 | +€21,231 | +20.8% |
| Contributions | 10/11 | €9,680 | €9,680 | = | 0.0% |
| Reserves | 13 | €16,660 | €37,860 | +€21,200 | +127% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,800 | €36,000 | +€21,200 | +143% |
| Profit (loss) carried forward | 14 | €75,820 | €75,851 | +€31 | 0.0% |
| Amounts payable | 17/49 | €11,472 | €13,030 | +€1,558 | +13.6% |
| Amounts payable within one year | 42/48 | €11,472 | €13,030 | +€1,558 | +13.6% |
| Trade debts | 44 | - | €368 | +€368 | |
| Suppliers | 440/4 | - | €368 | +€368 | |
| Taxes, remuneration and social security | 45 | €880 | €2,120 | +€1,240 | +141% |
| Taxes | 450/3 | €880 | €2,120 | +€1,240 | +141% |
| Other amounts payable | 47/48 | €10,592 | €10,541 | -€51 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,293 | €16,853 | +€3,560 | +26.8% |
| Other operating charges | 640/8 | €3,032 | €1,194 | -€1,838 | -60.6% |
| Gross operating margin | 9900 | €29,510 | €43,793 | +€14,282 | +48.4% |
| Operating profit (loss) | 9901 | €13,185 | €25,746 | +€12,561 | +95.3% |
| Financial income | 75/76B | €12 | €172 | +€160 | +1,285% |
| Recurring financial income | 75 | €12 | €172 | +€160 | +1,285% |
| Financial charges | 65/66B | €210 | €206 | -€4 | -2.0% |
| Recurring financial charges | 65 | €210 | €206 | -€4 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €12,988 | €25,712 | +€12,724 | +98.0% |
| Income taxes | 67/77 | €4,180 | €4,482 | +€302 | +7.2% |
| Profit (loss) for the period | 9904 | €8,808 | €21,231 | +€12,423 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €8,808 | €21,231 | +€12,423 | +141% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.