ADIFI: 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.
ADIFI
Largest movements
- Tangible fixed assets -€9,108
down €9,108 (-3.0%), from €308,601 to €299,493
- Receivables within one year -€6,901
no longer reported in 2025 (was €6,901)
- Deferred charges and accrued income -€5,742
no longer reported in 2025 (was €5,742)
- Debts after one year -€144,800
no longer reported in 2025 (was €144,800)
- Current portion of long-term debt +€126,400
up €126,400 (+687%), from €18,400 to €144,800
- Profit (loss) carried forward -€27,607
down €27,607 (-79.4%), from -€34,748 to -€62,355
- Other debts +€21,100
up €21,100 (+12.5%), from €169,000 to €190,100
- Gross operating margin -€4,588
down €4,588, from €4,219 to -€369
- Financial charges -€3,437
down €3,437 (-17.2%), from €20,026 to €16,589
- Other operating charges +€153
up €153 (+11.0%), from €1,388 to €1,541
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 | €324,705 | €302,192 | -€22,514 | -6.9% |
| Fixed assets | 21/28 | €308,601 | €299,493 | -€9,108 | -3.0% |
| Tangible fixed assets | 22/27 | €308,601 | €299,493 | -€9,108 | -3.0% |
| Other tangible fixed assets | 26 | €308,601 | €299,493 | -€9,108 | -3.0% |
| Current assets | 29/58 | €16,104 | €2,699 | -€13,406 | -83.2% |
| Amounts receivable within one year | 40/41 | €6,901 | - | -€6,901 | |
| Trade receivables | 40 | €6,901 | - | -€6,901 | |
| Cash at bank and in hand | 54/58 | €3,461 | €2,699 | -€763 | -22.0% |
| Deferred charges and accrued income | 490/1 | €5,742 | - | -€5,742 | |
| Total equity and liabilities | 10/49 | €324,705 | €302,192 | -€22,514 | -6.9% |
| Equity | 10/15 | -€16,148 | -€43,755 | -€27,607 | -171% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,748 | -€62,355 | -€27,607 | -79.4% |
| Amounts payable | 17/49 | €340,853 | €345,946 | +€5,093 | +1.5% |
| Amounts payable after more than one year | 17 | €144,800 | - | -€144,800 | |
| Financial debts | 170/4 | €144,800 | - | -€144,800 | |
| Amounts payable within one year | 42/48 | €188,195 | €335,997 | +€147,802 | +78.5% |
| Current portion of amounts payable after more than one year | 42 | €18,400 | €144,800 | +€126,400 | +687% |
| Trade debts | 44 | €255 | €557 | +€302 | +118% |
| Suppliers | 440/4 | €255 | €557 | +€302 | +118% |
| Taxes, remuneration and social security | 45 | €540 | €540 | = | 0.0% |
| Taxes | 450/3 | €540 | €540 | = | 0.0% |
| Other amounts payable | 47/48 | €169,000 | €190,100 | +€21,100 | +12.5% |
| Accrued charges and deferred income | 492/3 | €7,858 | €9,949 | +€2,091 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,108 | €9,108 | = | 0.0% |
| Other operating charges | 640/8 | €1,388 | €1,541 | +€153 | +11.0% |
| Gross operating margin | 9900 | €4,219 | -€369 | -€4,588 | |
| Operating profit (loss) | 9901 | -€6,277 | -€11,018 | -€4,741 | -75.5% |
| Financial charges | 65/66B | €20,026 | €16,589 | -€3,437 | -17.2% |
| Recurring financial charges | 65 | €20,026 | €16,589 | -€3,437 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,303 | -€27,607 | -€1,303 | -5.0% |
| Profit (loss) for the period | 9904 | -€26,303 | -€27,607 | -€1,303 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,303 | -€27,607 | -€1,303 | -5.0% |
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 17 October 2026 via checked.be.