ADIVET: 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.
ADIVET
Largest movements
- Current investments +€110,000
new in 2025: €110,000
- Cash -€76,064
down €76,064 (-46.6%), from €163,155 to €87,091
mainly Current investments (-€110,000) and Investment in fixed assets (net) (-€30,923)
- Tangible fixed assets +€18,099
up €18,099 (+75.6%), from €23,951 to €42,050
of which Other tangible fixed assets: +€24,698
- Receivables within one year +€6,637
up €6,637 (+14.3%), from €46,359 to €52,996
of which Trade receivables: +€16,366
- Stocks and contracts -€3,394
down €3,394 (-22.5%), from €15,089 to €11,695
- Reserves +€75,120
up €75,120 (+43.4%), from €172,915 to €248,035
of which Distributable reserves: +€75,120
- Debts after one year -€7,550
down €7,550 (-56.7%), from €13,317 to €5,767
- Other debts -€6,167
down €6,167 (-92.4%), from €6,674 to €507
- Tax, wage and social debts -€4,995
down €4,995 (-26.2%), from €19,073 to €14,078
of which Taxes: -€4,775
- Short-term financial debts -€3,814
no longer reported in 2025 (was €3,814)
- Gross operating margin +€41,355
up €41,355 (+35.4%), from €116,766 to €158,121
- Staff costs +€14,099
up €14,099 (+54.6%), from €25,845 to €39,944
- Taxes +€6,840
up €6,840 (+32.3%), from €21,179 to €28,019
- Depreciation +€1,651
up €1,651 (+13.0%), from €12,673 to €14,324
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 | €259,597 | €312,197 | +€52,600 | +20.3% |
| Fixed assets | 21/28 | €29,101 | €45,700 | +€16,599 | +57.0% |
| Intangible fixed assets | 21 | €3,000 | €1,500 | -€1,500 | -50.0% |
| Tangible fixed assets | 22/27 | €23,951 | €42,050 | +€18,099 | +75.6% |
| Plant, machinery and equipment | 23 | €1,407 | €2,912 | +€1,505 | +107.0% |
| Furniture and vehicles | 24 | €20,567 | €12,463 | -€8,104 | -39.4% |
| Other tangible fixed assets | 26 | €1,977 | €26,675 | +€24,698 | +1249.3% |
| Financial fixed assets | 28 | €2,150 | €2,150 | = | 0.0% |
| Current assets | 29/58 | €230,496 | €266,497 | +€36,001 | +15.6% |
| Amounts receivable after more than one year | 29 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Other amounts receivable | 291 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Stocks and contracts in progress | 3 | €15,089 | €11,695 | -€3,394 | -22.5% |
| Stocks | 30/36 | €15,089 | €11,695 | -€3,394 | -22.5% |
| Amounts receivable within one year | 40/41 | €46,359 | €52,996 | +€6,637 | +14.3% |
| Trade receivables | 40 | €27,310 | €43,676 | +€16,366 | +59.9% |
| Other amounts receivable | 41 | €19,049 | €9,320 | -€9,729 | -51.1% |
| Current investments | 50/53 | - | €110,000 | +€110,000 | |
| Cash at bank and in hand | 54/58 | €163,155 | €87,091 | -€76,064 | -46.6% |
| Deferred charges and accrued income | 490/1 | €1,893 | €2,715 | +€822 | +43.4% |
| Total equity and liabilities | 10/49 | €259,597 | €312,197 | +€52,600 | +20.3% |
| Equity | 10/15 | €185,835 | €260,955 | +€75,120 | +40.4% |
| Contributions | 10/11 | €12,920 | €12,920 | = | 0.0% |
| Reserves | 13 | €172,915 | €248,035 | +€75,120 | +43.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €171,055 | €246,175 | +€75,120 | +43.9% |
| Amounts payable | 17/49 | €73,762 | €51,242 | -€22,520 | -30.5% |
| Amounts payable after more than one year | 17 | €13,317 | €5,767 | -€7,550 | -56.7% |
| Financial debts | 170/4 | €13,317 | €5,767 | -€7,550 | -56.7% |
| Amounts payable within one year | 42/48 | €60,445 | €45,475 | -€14,970 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €7,395 | €7,550 | +€155 | +2.1% |
| Financial debts | 43 | €3,814 | - | -€3,814 | |
| Credit institutions | 430/8 | €3,814 | - | -€3,814 | |
| Trade debts | 44 | €23,489 | €23,340 | -€149 | -0.6% |
| Suppliers | 440/4 | €23,489 | €23,340 | -€149 | -0.6% |
| Taxes, remuneration and social security | 45 | €19,073 | €14,078 | -€4,995 | -26.2% |
| Taxes | 450/3 | €12,448 | €7,673 | -€4,775 | -38.4% |
| Remuneration and social security | 454/9 | €6,625 | €6,405 | -€220 | -3.3% |
| Other amounts payable | 47/48 | €6,674 | €507 | -€6,167 | -92.4% |
| Remuneration, social security and pensions | 62 | €25,845 | €39,944 | +€14,099 | +54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,673 | €14,324 | +€1,651 | +13.0% |
| Other operating charges | 640/8 | €842 | €1,011 | +€169 | +20.1% |
| Gross operating margin | 9900 | €116,766 | €158,121 | +€41,355 | +35.4% |
| Operating profit (loss) | 9901 | €77,406 | €102,842 | +€25,436 | +32.9% |
| Financial income | 75/76B | €280 | €1,187 | +€907 | +323.9% |
| Recurring financial income | 75 | €280 | €1,187 | +€907 | +323.9% |
| Financial charges | 65/66B | €1,172 | €890 | -€282 | -24.1% |
| Recurring financial charges | 65 | €1,172 | €890 | -€282 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €76,514 | €103,139 | +€26,625 | +34.8% |
| Income taxes | 67/77 | €21,179 | €28,019 | +€6,840 | +32.3% |
| Profit (loss) for the period | 9904 | €55,335 | €75,120 | +€19,785 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,335 | €75,120 | +€19,785 | +35.8% |
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 5 October 2026 via checked.be.