ADIUTUM: 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.
ADIUTUM
Largest movements
- Cash -€717,845
down €717,845 (-58.1%), from €1.2m to €518,550
mainly Contributions, distributions and other (-€600,000) and Trade debts (-€229,195)
- Receivables within one year +€218,447
up €218,447 (+13.3%), from €1.6m to €1.9m
of which Trade receivables: +€184,705
- Trade debts -€229,195
down €229,195 (-38.1%), from €601,961 to €372,766
- Tax, wage and social debts -€211,224
down €211,224 (-30.7%), from €687,643 to €476,419
of which Remuneration and social security: -€119,175
- Other debts -€98,942
down €98,942 (-14.1%), from €700,000 to €601,058
- Staff costs -€120,789
down €120,789 (-3.0%), from €4.1m to €3.9m
- Gross operating margin -€118,550
down €118,550 (-2.4%), from €5.0m to €4.9m
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 | €2,897,083 | €2,387,334 | -€509,749 | -17.6% |
| Fixed assets | 21/28 | €17,606 | €9,339 | -€8,267 | -47.0% |
| Tangible fixed assets | 22/27 | €14,878 | €6,611 | -€8,267 | -55.6% |
| Furniture and vehicles | 24 | €6,728 | €2,536 | -€4,192 | -62.3% |
| Other tangible fixed assets | 26 | €8,150 | €4,075 | -€4,075 | -50.0% |
| Financial fixed assets | 28 | €2,728 | €2,728 | = | 0.0% |
| Current assets | 29/58 | €2,879,477 | €2,377,995 | -€501,482 | -17.4% |
| Amounts receivable within one year | 40/41 | €1,638,244 | €1,856,692 | +€218,447 | +13.3% |
| Trade receivables | 40 | €1,624,455 | €1,809,161 | +€184,705 | +11.4% |
| Other amounts receivable | 41 | €13,789 | €47,531 | +€33,742 | +245% |
| Cash at bank and in hand | 54/58 | €1,236,395 | €518,550 | -€717,845 | -58.1% |
| Deferred charges and accrued income | 490/1 | €4,838 | €2,753 | -€2,084 | -43.1% |
| Total equity and liabilities | 10/49 | €2,897,083 | €2,387,334 | -€509,749 | -17.6% |
| Equity | 10/15 | €893,865 | €872,499 | -€21,366 | -2.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €334,500 | €334,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €327,000 | €327,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €484,365 | €462,999 | -€21,366 | -4.4% |
| Provisions and deferred taxes | 16 | €13,614 | €36,214 | +€22,600 | +166% |
| Provisions for liabilities and charges | 160/5 | €13,614 | €36,214 | +€22,600 | +166% |
| Other liabilities and charges | 164/5 | €13,614 | €36,214 | +€22,600 | +166% |
| Amounts payable | 17/49 | €1,989,603 | €1,478,621 | -€510,982 | -25.7% |
| Amounts payable within one year | 42/48 | €1,989,603 | €1,450,243 | -€539,360 | -27.1% |
| Trade debts | 44 | €601,961 | €372,766 | -€229,195 | -38.1% |
| Suppliers | 440/4 | €601,961 | €372,766 | -€229,195 | -38.1% |
| Taxes, remuneration and social security | 45 | €687,643 | €476,419 | -€211,224 | -30.7% |
| Taxes | 450/3 | €253,080 | €161,031 | -€92,049 | -36.4% |
| Remuneration and social security | 454/9 | €434,563 | €315,388 | -€119,175 | -27.4% |
| Other amounts payable | 47/48 | €700,000 | €601,058 | -€98,942 | -14.1% |
| Accrued charges and deferred income | 492/3 | - | €28,378 | +€28,378 | |
| Remuneration, social security and pensions | 62 | €4,061,292 | €3,940,502 | -€120,789 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,119 | €8,267 | -€2,852 | -25.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,660 | +€22,660 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €22,600 | +€22,600 | |
| Other operating charges | 640/8 | €1,800 | €1,860 | +€60 | +3.3% |
| Gross operating margin | 9900 | €5,000,384 | €4,881,834 | -€118,550 | -2.4% |
| Operating profit (loss) | 9901 | €926,173 | €885,944 | -€40,229 | -4.3% |
| Financial income | 75/76B | €1,542 | €1 | -€1,541 | -99.9% |
| Recurring financial income | 75 | €1,542 | €1 | -€1,541 | -99.9% |
| Financial charges | 65/66B | €15,830 | €18,851 | +€3,021 | +19.1% |
| Recurring financial charges | 65 | €15,830 | €18,851 | +€3,021 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €911,885 | €867,095 | -€44,790 | -4.9% |
| Income taxes | 67/77 | €288,655 | €288,461 | -€194 | -0.1% |
| Profit (loss) for the period | 9904 | €623,230 | €578,634 | -€44,597 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €623,230 | €578,634 | -€44,597 | -7.2% |
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 24 October 2026 via checked.be.