ADJ FINANCE: 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.
ADJ FINANCE
Largest movements
- Receivables within one year +€96,000
new in 2025: €96,000
- Cash +€40,517
up €40,517 (+18,416%), from €220 to €40,737
mainly Net result for the year (+€111,641) and Tax, wage and social debts (+€33,000)
- Deferred charges and accrued income +€8,681
new in 2025: €8,681
- Profit (loss) carried forward +€111,641
up €111,641, from -€4,294 to €107,348
- Tax, wage and social debts +€33,000
new in 2025: €33,000
of which Taxes: +€30,500
- Other debts +€1,994
up €1,994 (+867%), from €230 to €2,224
- Gross operating margin +€146,539
up €146,539, from -€4,076 to €142,464
- Taxes +€30,500
new in 2025: €30,500
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 | €220 | €146,493 | +€146,273 | +66,485% |
| Fixed assets | 21/28 | - | €1,075 | +€1,075 | |
| Tangible fixed assets | 22/27 | - | €1,075 | +€1,075 | |
| Furniture and vehicles | 24 | - | €1,075 | +€1,075 | |
| Current assets | 29/58 | €220 | €145,417 | +€145,197 | +65,996% |
| Amounts receivable within one year | 40/41 | - | €96,000 | +€96,000 | |
| Trade receivables | 40 | - | €96,000 | +€96,000 | |
| Cash at bank and in hand | 54/58 | €220 | €40,737 | +€40,517 | +18,416% |
| Deferred charges and accrued income | 490/1 | - | €8,681 | +€8,681 | |
| Total equity and liabilities | 10/49 | €220 | €146,493 | +€146,273 | +66,485% |
| Equity | 10/15 | -€1,794 | €109,848 | +€111,641 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,294 | €107,348 | +€111,641 | |
| Amounts payable | 17/49 | €2,014 | €36,645 | +€34,631 | +1,720% |
| Amounts payable within one year | 42/48 | €2,014 | €36,645 | +€34,631 | +1,720% |
| Trade debts | 44 | €1,784 | €1,421 | -€363 | -20.4% |
| Suppliers | 440/4 | €1,784 | €1,421 | -€363 | -20.4% |
| Taxes, remuneration and social security | 45 | - | €33,000 | +€33,000 | |
| Taxes | 450/3 | - | €30,500 | +€30,500 | |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €230 | €2,224 | +€1,994 | +867% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €274 | +€274 | |
| Gross operating margin | 9900 | -€4,076 | €142,464 | +€146,539 | |
| Operating profit (loss) | 9901 | -€4,076 | €142,189 | +€146,265 | |
| Financial charges | 65/66B | €218 | €48 | -€170 | -78.0% |
| Recurring financial charges | 65 | €218 | €48 | -€170 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,294 | €142,141 | +€146,435 | |
| Income taxes | 67/77 | - | €30,500 | +€30,500 | |
| Profit (loss) for the period | 9904 | -€4,294 | €111,641 | +€115,935 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,294 | €111,641 | +€115,935 |
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.