Adimat + Gefeak: what changed
Adimat + Gefeak
Largest movements
- Cash +€455,299
up €455,299 (+93.6%), from €486,621 to €941,920
mainly Accrued charges and deferred income (+€1.1m) and Contributions, distributions and other (+€80,617)
- Deferred charges and accrued income +€298,789
up €298,789 (+3,815%), from €7,831 to €306,620
- Receivables within one year +€227,985
up €227,985 (+34.6%), from €659,441 to €887,426
of which Trade receivables: +€203,655
- Accrued charges and deferred income +€1.1m
up €1.1m (+40,754%), from €2,784 to €1.1m
- Trade debts -€240,731
down €240,731 (-16.3%), from €1.5m to €1.2m
- Profit (loss) carried forward +€54,275
up €54,275 (+160%), from €33,971 to €88,247
- Contributions +€32,353
up €32,353 (+115%), from €28,071 to €60,424
- Gross operating margin +€144,524
up €144,524 (+35.8%), from €403,217 to €547,742
- Financial income +€101,997
up €101,997 (+223%), from €45,784 to €147,781
- Financial charges +€98,758
up €98,758 (+199%), from €49,739 to €148,497
- Other operating charges +€87,740
up €87,740 (+78.5%), from €111,830 to €199,571
- Staff costs +€56,859
up €56,859 (+22.3%), from €254,443 to €311,302
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,605,632 | €2,594,872 | +€989,240 | +61.6% |
| Fixed assets | 21/28 | €451,739 | €438,178 | -€13,560 | -3.0% |
| Intangible fixed assets | 21 | €10,766 | €6,286 | -€4,480 | -41.6% |
| Tangible fixed assets | 22/27 | €18,910 | €7,040 | -€11,870 | -62.8% |
| Plant, machinery and equipment | 23 | €454 | €1,034 | +€580 | +128% |
| Furniture and vehicles | 24 | €18,457 | €6,006 | -€12,450 | -67.5% |
| Financial fixed assets | 28 | €422,062 | €424,852 | +€2,790 | +0.7% |
| Current assets | 29/58 | €1,153,893 | €2,156,693 | +€1.0m | +86.9% |
| Stocks and contracts in progress | 3 | - | €20,728 | +€20,728 | |
| Stocks | 30/36 | - | €20,728 | +€20,728 | |
| Amounts receivable within one year | 40/41 | €659,441 | €887,426 | +€227,985 | +34.6% |
| Trade receivables | 40 | €646,291 | €849,945 | +€203,655 | +31.5% |
| Other amounts receivable | 41 | €13,150 | €37,480 | +€24,330 | +185% |
| Cash at bank and in hand | 54/58 | €486,621 | €941,920 | +€455,299 | +93.6% |
| Deferred charges and accrued income | 490/1 | €7,831 | €306,620 | +€298,789 | +3,815% |
| Total equity and liabilities | 10/49 | €1,605,632 | €2,594,872 | +€989,240 | +61.6% |
| Equity | 10/15 | €64,395 | €151,023 | +€86,628 | +135% |
| Contributions | 10/11 | €28,071 | €60,424 | +€32,353 | +115% |
| Reserves | 13 | €2,352 | €2,352 | = | 0.0% |
| Distributable reserves | 133 | €2,352 | €2,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,971 | €88,247 | +€54,275 | +160% |
| Amounts payable | 17/49 | €1,541,237 | €2,443,849 | +€902,612 | +58.6% |
| Amounts payable within one year | 42/48 | €1,538,453 | €1,306,473 | -€231,980 | -15.1% |
| Trade debts | 44 | €1,478,888 | €1,238,157 | -€240,731 | -16.3% |
| Suppliers | 440/4 | €1,478,888 | €1,238,157 | -€240,731 | -16.3% |
| Taxes, remuneration and social security | 45 | €59,565 | €68,316 | +€8,751 | +14.7% |
| Taxes | 450/3 | €16,200 | €11,921 | -€4,279 | -26.4% |
| Remuneration and social security | 454/9 | €43,365 | €56,395 | +€13,030 | +30.0% |
| Accrued charges and deferred income | 492/3 | €2,784 | €1,137,376 | +€1.1m | +40,754% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €254,443 | €311,302 | +€56,859 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,154 | €17,248 | +€94 | +0.6% |
| Other operating charges | 640/8 | €111,830 | €199,571 | +€87,740 | +78.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €403,217 | €547,742 | +€144,524 | +35.8% |
| Operating profit (loss) | 9901 | €19,790 | €19,620 | -€169 | -0.9% |
| Financial income | 75/76B | €45,784 | €147,781 | +€101,997 | +223% |
| Recurring financial income | 75 | €45,784 | €147,781 | +€101,997 | +223% |
| Financial charges | 65/66B | €49,739 | €148,497 | +€98,758 | +199% |
| Recurring financial charges | 65 | €49,739 | €148,497 | +€98,758 | +199% |
| Profit (loss) for the period before taxes | 9903 | €15,834 | €18,904 | +€3,070 | +19.4% |
| Income taxes | 67/77 | €12,621 | €12,893 | +€272 | +2.2% |
| Profit (loss) for the period | 9904 | €3,213 | €6,011 | +€2,798 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,213 | €6,011 | +€2,798 | +87.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.