ADI: 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.
ADI
Largest movements
- Tangible fixed assets +€68,663
up €68,663 (+59.7%), from €115,110 to €183,773
of which Furniture and vehicles: +€72,424
- Receivables within one year -€7,909
down €7,909 (-19.1%), from €41,344 to €33,436
of which Trade receivables: -€20,346
- Deferred charges and accrued income +€4,857
up €4,857 (+129%), from €3,777 to €8,634
- Debts after one year +€27,360
up €27,360 (+34.3%), from €79,868 to €107,228
- Reserves +€26,791
up €26,791 (+19.0%), from €141,144 to €167,934
- Tax, wage and social debts +€11,250
up €11,250 (+39.6%), from €28,405 to €39,655
of which Taxes: +€11,106
- Current portion of long-term debt +€7,101
up €7,101 (+101%), from €7,043 to €14,144
- Accrued charges and deferred income -€4,551
down €4,551 (-100%), from €4,551 to €0
- Staff costs +€51,955
up €51,955 (+213%), from €24,407 to €76,362
- Taxes -€15,231
down €15,231 (-57.8%), from €26,360 to €11,129
- Other operating charges -€13,247
down €13,247 (-87.3%), from €15,175 to €1,928
- Gross operating margin -€9,074
down €9,074 (-6.6%), from €137,843 to €128,769
- Depreciation +€5,512
up €5,512 (+73.6%), from €7,494 to €13,006
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 | €322,740 | €390,566 | +€67,825 | +21.0% |
| Fixed assets | 21/28 | €115,110 | €183,773 | +€68,663 | +59.7% |
| Tangible fixed assets | 22/27 | €115,110 | €183,773 | +€68,663 | +59.7% |
| Land and buildings | 22 | €111,988 | €108,438 | -€3,550 | -3.2% |
| Plant, machinery and equipment | 23 | €572 | €361 | -€211 | -36.8% |
| Furniture and vehicles | 24 | €2,550 | €74,974 | +€72,424 | +2,840% |
| Current assets | 29/58 | €207,631 | €206,793 | -€838 | -0.4% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €10,000 | €9,000 | -€1,000 | -10.0% |
| Stocks | 30/36 | €2,500 | €3,400 | +€900 | +36.0% |
| Contracts in progress | 37 | €7,500 | €5,600 | -€1,900 | -25.3% |
| Amounts receivable within one year | 40/41 | €41,344 | €33,436 | -€7,909 | -19.1% |
| Trade receivables | 40 | €31,413 | €11,067 | -€20,346 | -64.8% |
| Other amounts receivable | 41 | €9,931 | €22,369 | +€12,438 | +125% |
| Cash at bank and in hand | 54/58 | €32,510 | €35,723 | +€3,214 | +9.9% |
| Deferred charges and accrued income | 490/1 | €3,777 | €8,634 | +€4,857 | +129% |
| Total equity and liabilities | 10/49 | €322,740 | €390,566 | +€67,825 | +21.0% |
| Equity | 10/15 | €159,694 | €186,484 | +€26,791 | +16.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €141,144 | €167,934 | +€26,791 | +19.0% |
| Distributable reserves | 133 | €141,144 | €167,934 | +€26,791 | +19.0% |
| Amounts payable | 17/49 | €163,047 | €204,081 | +€41,035 | +25.2% |
| Amounts payable after more than one year | 17 | €79,868 | €107,228 | +€27,360 | +34.3% |
| Financial debts | 170/4 | €79,868 | €107,228 | +€27,360 | +34.3% |
| Amounts payable within one year | 42/48 | €78,628 | €96,853 | +€18,226 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €7,043 | €14,144 | +€7,101 | +101% |
| Trade debts | 44 | €38,378 | €42,791 | +€4,413 | +11.5% |
| Suppliers | 440/4 | €38,378 | €42,791 | +€4,413 | +11.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €28,405 | €39,655 | +€11,250 | +39.6% |
| Taxes | 450/3 | €26,360 | €37,466 | +€11,106 | +42.1% |
| Remuneration and social security | 454/9 | €2,045 | €2,189 | +€144 | +7.0% |
| Other amounts payable | 47/48 | €4,801 | €263 | -€4,538 | -94.5% |
| Accrued charges and deferred income | 492/3 | €4,551 | €0 | -€4,551 | -100% |
| Non-recurring operating income | 76A | €0 | €1,492 | +€1,492 | |
| Remuneration, social security and pensions | 62 | €24,407 | €76,362 | +€51,955 | +213% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,494 | €13,006 | +€5,512 | +73.6% |
| Other operating charges | 640/8 | €15,175 | €1,928 | -€13,247 | -87.3% |
| Gross operating margin | 9900 | €137,843 | €128,769 | -€9,074 | -6.6% |
| Operating profit (loss) | 9901 | €90,766 | €37,473 | -€53,293 | -58.7% |
| Financial income | 75/76B | €3,821 | €3,789 | -€31 | -0.8% |
| Recurring financial income | 75 | €3,821 | €3,789 | -€31 | -0.8% |
| Financial charges | 65/66B | €4,476 | €3,343 | -€1,133 | -25.3% |
| Recurring financial charges | 65 | €4,476 | €3,343 | -€1,133 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €90,111 | €37,920 | -€52,192 | -57.9% |
| Income taxes | 67/77 | €26,360 | €11,129 | -€15,231 | -57.8% |
| Profit (loss) for the period | 9904 | €63,751 | €26,791 | -€36,961 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,751 | €26,791 | -€36,961 | -58.0% |
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 29 October 2026 via checked.be.