ADIUTOR: 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.
ADIUTOR
Largest movements
- Stocks and contracts +€357,965
up €357,965 (+733.2%), from €48,825 to €406,790
- Receivables within one year +€201,141
up €201,141 (+227.5%), from €88,403 to €289,545
of which Trade receivables: +€232,124
- Cash +€62,755
up €62,755 (+14.3%), from €440,141 to €502,895
mainly Trade debts (+€446,736) and Other debts (+€118,374)
- Current investments -€23,141
down €23,141 (-6.0%), from €383,750 to €360,609
- Trade debts +€446,736
up €446,736 (+793.3%), from €56,313 to €503,049
- Other debts +€118,374
up €118,374 (+43.1%), from €274,816 to €393,190
- Tax, wage and social debts +€57,377
up €57,377 (+302619.0%), from €19 to €57,396
- Accrued charges and deferred income -€43,079
down €43,079 (-67.7%), from €63,619 to €20,540
- Gross operating margin +€86,025
up €86,025 (+111.6%), from €77,106 to €163,132
- Taxes +€28,115
up €28,115 (+121.0%), from €23,234 to €51,349
- Financial income +€18,175
up €18,175 (+168.9%), from €10,759 to €28,934
- Financial charges +€11,083
up €11,083 (+90.3%), from €12,272 to €23,354
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 | €1,042,236 | €1,635,937 | +€593,700 | +57.0% |
| Fixed assets | 21/28 | €79,844 | €73,675 | -€6,169 | -7.7% |
| Tangible fixed assets | 22/27 | €79,034 | €72,865 | -€6,169 | -7.8% |
| Land and buildings | 22 | €76,937 | €71,358 | -€5,579 | -7.3% |
| Plant, machinery and equipment | 23 | €721 | €505 | -€216 | -29.9% |
| Furniture and vehicles | 24 | €1,376 | €1,002 | -€375 | -27.2% |
| Financial fixed assets | 28 | €810 | €810 | = | 0.0% |
| Current assets | 29/58 | €962,393 | €1,562,262 | +€599,869 | +62.3% |
| Stocks and contracts in progress | 3 | €48,825 | €406,790 | +€357,965 | +733.2% |
| Stocks | 30/36 | €48,825 | €406,790 | +€357,965 | +733.2% |
| Amounts receivable within one year | 40/41 | €88,403 | €289,545 | +€201,141 | +227.5% |
| Trade receivables | 40 | €57,421 | €289,545 | +€232,124 | +404.3% |
| Other amounts receivable | 41 | €30,983 | €0 | -€30,983 | -100.0% |
| Current investments | 50/53 | €383,750 | €360,609 | -€23,141 | -6.0% |
| Cash at bank and in hand | 54/58 | €440,141 | €502,895 | +€62,755 | +14.3% |
| Deferred charges and accrued income | 490/1 | €1,274 | €2,423 | +€1,149 | +90.2% |
| Total equity and liabilities | 10/49 | €1,042,236 | €1,635,937 | +€593,700 | +57.0% |
| Equity | 10/15 | €646,754 | €660,484 | +€13,729 | +2.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €543,334 | €557,922 | +€14,588 | +2.7% |
| Distributable reserves | 133 | €543,334 | €557,922 | +€14,588 | +2.7% |
| Profit (loss) carried forward | 14 | €96,920 | €96,061 | -€859 | -0.9% |
| Amounts payable | 17/49 | €395,482 | €975,453 | +€579,971 | +146.6% |
| Amounts payable within one year | 42/48 | €331,863 | €954,913 | +€623,050 | +187.7% |
| Financial debts | 43 | €715 | €1,279 | +€564 | +79.0% |
| Other loans | 439 | €715 | €1,279 | +€564 | +79.0% |
| Trade debts | 44 | €56,313 | €503,049 | +€446,736 | +793.3% |
| Suppliers | 440/4 | €56,313 | €503,049 | +€446,736 | +793.3% |
| Taxes, remuneration and social security | 45 | €19 | €57,396 | +€57,377 | +302619.0% |
| Taxes | 450/3 | €19 | €57,396 | +€57,377 | +302619.0% |
| Other amounts payable | 47/48 | €274,816 | €393,190 | +€118,374 | +43.1% |
| Accrued charges and deferred income | 492/3 | €63,619 | €20,540 | -€43,079 | -67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,921 | €6,169 | -€752 | -10.9% |
| Other operating charges | 640/8 | €1,951 | €1,708 | -€243 | -12.5% |
| Non-recurring operating charges | 66A | €759 | €0 | -€759 | -100.0% |
| Gross operating margin | 9900 | €77,106 | €163,132 | +€86,025 | +111.6% |
| Operating profit (loss) | 9901 | €67,476 | €155,255 | +€87,780 | +130.1% |
| Financial income | 75/76B | €10,759 | €28,934 | +€18,175 | +168.9% |
| Recurring financial income | 75 | €10,759 | €28,934 | +€18,175 | +168.9% |
| Financial charges | 65/66B | €12,272 | €23,354 | +€11,083 | +90.3% |
| Recurring financial charges | 65 | €12,272 | €23,354 | +€11,083 | +90.3% |
| Profit (loss) for the period before taxes | 9903 | €65,963 | €160,835 | +€94,872 | +143.8% |
| Income taxes | 67/77 | €23,234 | €51,349 | +€28,115 | +121.0% |
| Profit (loss) for the period | 9904 | €42,729 | €109,485 | +€66,756 | +156.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,729 | €109,485 | +€66,756 | +156.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.