ADiSo: what changed
Two fiscal 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.
ADiSo
Largest movements
- Tangible fixed assets +€162,631
up €162,631 (+32.9%), from €494,675 to €657,306
of which Land and buildings: +€172,607
- Current investments -€117,500
no longer reported in 2025 (was €117,500)
- Receivables within one year -€41,085
down €41,085 (-49.4%), from €83,195 to €42,111
of which Trade receivables: -€37,993
- Cash -€22,176
down €22,176 (-33.4%), from €66,468 to €44,292
mainly Investment in fixed assets (net) (-€190,381) and Trade debts (-€50,030)
- Profit (loss) carried forward +€67,520
up €67,520 (+23.6%), from €285,788 to €353,308
- Trade debts -€50,030
down €50,030 (-87.2%), from €57,342 to €7,313
- Debts after one year -€35,528
down €35,528 (-10.0%), from €356,661 to €321,132
- Gross operating margin +€29,387
up €29,387 (+33.0%), from €89,183 to €118,570
- Depreciation +€13,698
up €13,698 (+97.5%), from €14,053 to €27,751
- Financial income -€4,039
down €4,039 (-84.1%), from €4,804 to €766
- Taxes +€2,266
up €2,266 (+14.3%), from €15,898 to €18,164
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.
Cash bridge derived
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 | €762,979 | €745,022 | -€17,957 | -2.4% |
| Fixed assets | 21/28 | €494,675 | €657,306 | +€162,631 | +32.9% |
| Tangible fixed assets | 22/27 | €494,675 | €657,306 | +€162,631 | +32.9% |
| Land and buildings | 22 | €452,690 | €625,297 | +€172,607 | +38.1% |
| Plant, machinery and equipment | 23 | €887 | €491 | -€395 | -44.6% |
| Furniture and vehicles | 24 | €41,099 | €31,518 | -€9,581 | -23.3% |
| Current assets | 29/58 | €268,304 | €87,716 | -€180,588 | -67.3% |
| Amounts receivable within one year | 40/41 | €83,195 | €42,111 | -€41,085 | -49.4% |
| Trade receivables | 40 | €78,715 | €40,722 | -€37,993 | -48.3% |
| Other amounts receivable | 41 | €4,480 | €1,389 | -€3,091 | -69.0% |
| Current investments | 50/53 | €117,500 | - | -€117,500 | |
| Cash at bank and in hand | 54/58 | €66,468 | €44,292 | -€22,176 | -33.4% |
| Deferred charges and accrued income | 490/1 | €1,141 | €1,314 | +€173 | +15.1% |
| Total equity and liabilities | 10/49 | €762,979 | €745,022 | -€17,957 | -2.4% |
| Equity | 10/15 | €298,188 | €365,708 | +€67,520 | +22.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,788 | €353,308 | +€67,520 | +23.6% |
| Amounts payable | 17/49 | €464,791 | €379,314 | -€85,477 | -18.4% |
| Amounts payable after more than one year | 17 | €356,661 | €321,132 | -€35,528 | -10.0% |
| Financial debts | 170/4 | €356,661 | €321,132 | -€35,528 | -10.0% |
| Amounts payable within one year | 42/48 | €108,131 | €58,182 | -€49,949 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €34,989 | €35,528 | +€539 | +1.5% |
| Trade debts | 44 | €57,342 | €7,313 | -€50,030 | -87.2% |
| Suppliers | 440/4 | €57,342 | €7,313 | -€50,030 | -87.2% |
| Taxes, remuneration and social security | 45 | €13,342 | €12,273 | -€1,070 | -8.0% |
| Taxes | 450/3 | €13,342 | €12,273 | -€1,070 | -8.0% |
| Other amounts payable | 47/48 | €2,457 | €3,068 | +€612 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,053 | €27,751 | +€13,698 | +97.5% |
| Other operating charges | 640/8 | €761 | €1,011 | +€249 | +32.8% |
| Gross operating margin | 9900 | €89,183 | €118,570 | +€29,387 | +33.0% |
| Operating profit (loss) | 9901 | €74,368 | €89,808 | +€15,440 | +20.8% |
| Financial income | 75/76B | €4,804 | €766 | -€4,039 | -84.1% |
| Recurring financial income | 75 | €4,804 | €766 | -€4,039 | -84.1% |
| Financial charges | 65/66B | €4,389 | €4,890 | +€501 | +11.4% |
| Recurring financial charges | 65 | €4,389 | €4,890 | +€501 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €74,784 | €85,684 | +€10,900 | +14.6% |
| Income taxes | 67/77 | €15,898 | €18,164 | +€2,266 | +14.3% |
| Profit (loss) for the period | 9904 | €58,885 | €67,520 | +€8,634 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,885 | €67,520 | +€8,634 | +14.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.