ADIRACK: 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.
What changed
ADIRACK
NACE 46.500, Wholesale of information and communication equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€202,519
2024 · €50,156+€152,363
Equity
€5.2m
2024 · €5.0m+€202,519
Cash
€96,199
2024 · €35,618+€60,581
Balance sheet total
€8.5m
2024 · €7.9m+€684,328
Largest movements
Assets
- Receivables within one year +€500,887
up €500,887 (+19.2%), from €2.6m to €3.1m
of which Other amounts receivable: +€444,548
- Tangible fixed assets +€443,383
up €443,383 (+28.4%), from €1.6m to €2.0m
of which Leasing and similar rights: +€446,457
- Stocks and contracts -€312,631
down €312,631 (-24.6%), from €1.3m to €959,675
Equity and liabilities
- Debts after one year +€344,965
up €344,965 (+62.4%), from €553,005 to €897,970
- Profit (loss) carried forward +€217,075
up €217,075 (+19.5%), from €1.1m to €1.3m
- Trade debts -€142,738
down €142,738 (-19.6%), from €727,400 to €584,661
- Current portion of long-term debt +€113,709
up €113,709 (+97.1%), from €117,086 to €230,796
- Short-term financial debts +€100,000
up €100,000 (+8.7%), from €1.2m to €1.3m
Income statement
- Gross operating margin +€320,742
up €320,742 (+23.9%), from €1.3m to €1.7m
- Taxes +€70,472
up €70,472 (+167%), from €42,136 to €112,608
- Depreciation +€48,485
up €48,485 (+23.9%), from €202,976 to €251,460
- Staff costs +€47,610
up €47,610 (+4.9%), from €969,337 to €1.0m
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.
Result 2024
€50,156
Gross operating margin
+€320,742
Staff costs
-€47,610
Depreciation
-€48,485
Other operating charges
-€1,239
Financial income
+€10,603
Financial charges
-€11,169
Taxes
-€70,472
Deferred taxes and other
-€8
Result 2025
€202,519
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€196,650
Investment
-€694,743
Financing
+€558,674
Cash 2024
€35,618
From operations (derived)
+€196,650
Net result for the year
+€202,519
Depreciation
+€251,460
Stocks and contracts
+€312,631
Receivables within one year
-€500,887
Deferred charges and accrued income
+€7,793
Provisions
-€5,909
Trade debts
-€142,738
Tax, wage and social debts
+€69,732
Advances received
-€87
Accrued charges and deferred income
+€2,136
Investment (derived)
-€694,743
Investment in fixed assets (net)
-€694,743
Financing
+€558,674
Debts after one year
+€344,965
Current portion of long-term debt
+€113,709
Short-term financial debts
+€100,000
Cash 2025
€96,199
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,853,780 | €8,538,107 | +€684,328 | +8.7% |
| Fixed assets | 21/28 | €1,564,757 | €2,008,039 | +€443,283 | +28.3% |
| Tangible fixed assets | 22/27 | €1,560,277 | €2,003,659 | +€443,383 | +28.4% |
| Land and buildings | 22 | €989,546 | €1,120,252 | +€130,706 | +13.2% |
| Plant, machinery and equipment | 23 | €275,170 | €246,558 | -€28,612 | -10.4% |
| Furniture and vehicles | 24 | €295,561 | €190,392 | -€105,169 | -35.6% |
| Leasing and similar rights | 25 | - | €446,457 | +€446,457 | |
| Financial fixed assets | 28 | €4,480 | €4,380 | -€100 | -2.2% |
| Current assets | 29/58 | €6,289,023 | €6,530,068 | +€241,045 | +3.8% |
| Amounts receivable after more than one year | 29 | €2,300,000 | €2,300,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,300,000 | €2,300,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,272,306 | €959,675 | -€312,631 | -24.6% |
| Stocks | 30/36 | €1,272,306 | €959,675 | -€312,631 | -24.6% |
| Amounts receivable within one year | 40/41 | €2,604,342 | €3,105,229 | +€500,887 | +19.2% |
| Trade receivables | 40 | €846,152 | €902,491 | +€56,339 | +6.7% |
| Other amounts receivable | 41 | €1,758,191 | €2,202,738 | +€444,548 | +25.3% |
| Cash at bank and in hand | 54/58 | €35,618 | €96,199 | +€60,581 | +170% |
| Deferred charges and accrued income | 490/1 | €76,757 | €68,964 | -€7,793 | -10.2% |
| Total equity and liabilities | 10/49 | €7,853,780 | €8,538,107 | +€684,328 | +8.7% |
| Equity | 10/15 | €5,007,802 | €5,210,321 | +€202,519 | +4.0% |
| Contributions | 10/11 | €292,000 | €292,000 | = | 0.0% |
| Capital | 10 | €292,000 | €292,000 | = | 0.0% |
| Issued capital | 100 | €292,000 | €292,000 | = | 0.0% |
| Reserves | 13 | €3,604,150 | €3,589,594 | -€14,556 | -0.4% |
| Non-distributable reserves | 130/1 | €29,200 | €29,200 | = | 0.0% |
| Legal reserve | 130 | €29,200 | €29,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €74,950 | €60,394 | -€14,556 | -19.4% |
| Distributable reserves | 133 | €3,500,000 | €3,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,111,652 | €1,328,727 | +€217,075 | +19.5% |
| Provisions and deferred taxes | 16 | €15,112 | €9,203 | -€5,909 | -39.1% |
| Deferred taxes | 168 | €15,112 | €9,203 | -€5,909 | -39.1% |
| Amounts payable | 17/49 | €2,830,866 | €3,318,584 | +€487,718 | +17.2% |
| Amounts payable after more than one year | 17 | €553,005 | €897,970 | +€344,965 | +62.4% |
| Financial debts | 170/4 | €553,005 | €897,970 | +€344,965 | +62.4% |
| Amounts payable within one year | 42/48 | €2,272,656 | €2,413,273 | +€140,616 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €117,086 | €230,796 | +€113,709 | +97.1% |
| Financial debts | 43 | €1,150,000 | €1,250,000 | +€100,000 | +8.7% |
| Credit institutions | 430/8 | €1,150,000 | €1,250,000 | +€100,000 | +8.7% |
| Trade debts | 44 | €727,400 | €584,661 | -€142,738 | -19.6% |
| Suppliers | 440/4 | €727,400 | €584,661 | -€142,738 | -19.6% |
| Advances received on contracts in progress | 46 | €14,385 | €14,298 | -€87 | -0.6% |
| Taxes, remuneration and social security | 45 | €263,786 | €333,518 | +€69,732 | +26.4% |
| Taxes | 450/3 | €149,347 | €196,110 | +€46,762 | +31.3% |
| Remuneration and social security | 454/9 | €114,438 | €137,408 | +€22,970 | +20.1% |
| Accrued charges and deferred income | 492/3 | €5,205 | €7,341 | +€2,136 | +41.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €969,337 | €1,016,947 | +€47,610 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,976 | €251,460 | +€48,485 | +23.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €74,924 | €76,162 | +€1,239 | +1.7% |
| Gross operating margin | 9900 | €1,339,741 | €1,660,484 | +€320,742 | +23.9% |
| Operating profit (loss) | 9901 | €92,505 | €315,914 | +€223,409 | +242% |
| Financial income | 75/76B | €72,227 | €82,830 | +€10,603 | +14.7% |
| Recurring financial income | 75 | €72,227 | €82,830 | +€10,603 | +14.7% |
| Financial charges | 65/66B | €78,357 | €89,527 | +€11,169 | +14.3% |
| Recurring financial charges | 65 | €78,357 | €89,527 | +€11,169 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €86,375 | €309,218 | +€222,843 | +258% |
| Transfer from deferred taxes | 780 | €5,917 | €5,909 | -€8 | -0.1% |
| Income taxes | 67/77 | €42,136 | €112,608 | +€70,472 | +167% |
| Profit (loss) for the period | 9904 | €50,156 | €202,519 | +€152,363 | +304% |
| Transfer from tax-exempt reserves | 789 | €14,576 | €14,556 | -€19 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,731 | €217,075 | +€152,343 | +235% |
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 13 October 2026 via checked.be.