ADJ RETAIL: 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.
What changed
ADJ RETAIL
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€179,571
2024 · €179,781-€210
Equity
€332,953
2024 · €153,381+€179,571
Cash
€162,933
2024 · €115,861+€47,072
Balance sheet total
€1.2m
2024 · €1.3m-€45,751
Largest movements
Assets
- Tangible fixed assets -€133,694
down €133,694 (-35.6%), from €375,215 to €241,521
- Current investments -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Cash +€47,072
up €47,072 (+40.6%), from €115,861 to €162,933
mainly Net result for the year (+€179,571) and Depreciation (+€137,788)
- Stocks and contracts +€46,292
up €46,292 (+12.3%), from €375,899 to €422,192
- Receivables within one year +€28,540
up €28,540 (+76.9%), from €37,132 to €65,672
of which Other amounts receivable: +€25,568
Equity and liabilities
- Accrued charges and deferred income -€302,952
down €302,952 (-50.0%), from €605,864 to €302,911
- Profit (loss) carried forward +€179,571
up €179,571 (+197.3%), from €91,007 to €270,578
- Trade debts +€125,523
up €125,523 (+32.6%), from €385,500 to €511,022
- Tax, wage and social debts -€47,656
down €47,656 (-41.7%), from €114,170 to €66,514
of which Taxes: -€58,697
Income statement
- Turnover +€484,865
up €484,865 (+8.7%), from €5.6m to €6.1m
- Goods and materials +€456,291
up €456,291 (+9.8%), from €4.7m to €5.1m
of which Purchases: +€410,131
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.
Result 2024
€179,781
Turnover
+€484,865
Other operating income
+€256
Goods and materials
-€456,291
Services and other goods
-€8,960
Staff costs
-€30,976
Depreciation
+€668
Other operating charges
-€263
Other operating items
+€1,811
Financial income
-€117
Financial charges
+€5,679
Taxes
+€3,118
Result 2025
€179,571
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.
From operations
+€1,166
Investment
+€45,906
Financing
€0
Cash 2024
€115,861
From operations (derived)
+€1,166
Net result for the year
+€179,571
Depreciation
+€137,788
Stocks and contracts
-€46,292
Receivables within one year
-€28,540
Deferred charges and accrued income
-€16,039
Trade debts
+€125,523
Tax, wage and social debts
-€47,656
Other debts
-€237
Accrued charges and deferred income
-€302,952
Investment (derived)
+€45,906
Investment in fixed assets (net)
-€4,094
Current investments
+€50,000
Cash 2025
€162,933
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,259,151 | €1,213,400 | -€45,751 | -3.6% |
| Fixed assets | 21/28 | €375,215 | €241,521 | -€133,694 | -35.6% |
| Tangible fixed assets | 22/27 | €375,215 | €241,521 | -€133,694 | -35.6% |
| Plant, machinery and equipment | 23 | €133,051 | €80,554 | -€52,497 | -39.5% |
| Furniture and vehicles | 24 | €67,005 | €37,114 | -€29,891 | -44.6% |
| Other tangible fixed assets | 26 | €175,160 | €123,853 | -€51,307 | -29.3% |
| Current assets | 29/58 | €883,936 | €971,879 | +€87,943 | +9.9% |
| Stocks and contracts in progress | 3 | €375,899 | €422,192 | +€46,292 | +12.3% |
| Stocks | 30/36 | €375,899 | €422,192 | +€46,292 | +12.3% |
| Goods purchased for resale | 34 | €375,899 | €422,192 | +€46,292 | +12.3% |
| Amounts receivable within one year | 40/41 | €37,132 | €65,672 | +€28,540 | +76.9% |
| Trade receivables | 40 | €33,982 | €36,954 | +€2,972 | +8.7% |
| Other amounts receivable | 41 | €3,150 | €28,718 | +€25,568 | +811.7% |
| Current investments | 50/53 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Other investments | 51/53 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €115,861 | €162,933 | +€47,072 | +40.6% |
| Deferred charges and accrued income | 490/1 | €55,044 | €71,082 | +€16,039 | +29.1% |
| Total equity and liabilities | 10/49 | €1,259,151 | €1,213,400 | -€45,751 | -3.6% |
| Equity | 10/15 | €153,381 | €332,953 | +€179,571 | +117.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €874 | €874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €874 | €874 | = | 0.0% |
| Legal reserve | 130 | €874 | €874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,007 | €270,578 | +€179,571 | +197.3% |
| Amounts payable | 17/49 | €1,105,770 | €880,448 | -€225,322 | -20.4% |
| Amounts payable within one year | 42/48 | €499,907 | €577,537 | +€77,630 | +15.5% |
| Trade debts | 44 | €385,500 | €511,022 | +€125,523 | +32.6% |
| Suppliers | 440/4 | €385,500 | €511,022 | +€125,523 | +32.6% |
| Taxes, remuneration and social security | 45 | €114,170 | €66,514 | -€47,656 | -41.7% |
| Taxes | 450/3 | €58,697 | - | -€58,697 | |
| Remuneration and social security | 454/9 | €55,473 | €66,514 | +€11,042 | +19.9% |
| Other amounts payable | 47/48 | €237 | - | -€237 | |
| Accrued charges and deferred income | 492/3 | €605,864 | €302,911 | -€302,952 | -50.0% |
| Operating income | 70/76A | €6,062,567 | €6,549,499 | +€486,933 | +8.0% |
| Turnover | 70 | €5,592,441 | €6,077,307 | +€484,865 | +8.7% |
| Other operating income | 74 | €470,125 | €470,381 | +€256 | +0.1% |
| Non-recurring operating income | 76A | €0 | €1,811 | +€1,811 | |
| Operating charges | 60/66A | €5,798,752 | €6,294,575 | +€495,823 | +8.6% |
| Goods for resale, raw materials and consumables | 60 | €4,674,111 | €5,130,403 | +€456,291 | +9.8% |
| Purchases | 600/8 | €4,675,450 | €5,085,581 | +€410,131 | +8.8% |
| Change in stocks: decrease (increase) | 609 | -€1,339 | €44,822 | +€46,161 | |
| Services and other goods | 61 | €468,435 | €477,395 | +€8,960 | +1.9% |
| Remuneration, social security and pensions | 62 | €515,097 | €546,073 | +€30,976 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,456 | €137,788 | -€668 | -0.5% |
| Other operating charges | 640/8 | €2,653 | €2,916 | +€263 | +9.9% |
| Operating profit (loss) | 9901 | €263,815 | €254,924 | -€8,890 | -3.4% |
| Financial income | 75/76B | €6,908 | €6,792 | -€117 | -1.7% |
| Recurring financial income | 75 | €6,908 | €6,792 | -€117 | -1.7% |
| Income from current assets | 751 | €4,372 | €5,980 | +€1,608 | +36.8% |
| Other financial income | 752/9 | €2,536 | €812 | -€1,724 | -68.0% |
| Financial charges | 65/66B | €20,689 | €15,009 | -€5,679 | -27.5% |
| Recurring financial charges | 65 | €20,689 | €15,009 | -€5,679 | -27.5% |
| Debt charges | 650 | €13,858 | €14,537 | +€679 | +4.9% |
| Other financial charges | 652/9 | €6,830 | €472 | -€6,358 | -93.1% |
| Profit (loss) for the period before taxes | 9903 | €250,035 | €246,707 | -€3,328 | -1.3% |
| Income taxes | 67/77 | €70,254 | €67,135 | -€3,118 | -4.4% |
| Taxes | 670/3 | €70,288 | €91,794 | +€21,506 | +30.6% |
| Tax adjustments and reversals of tax provisions | 77 | €35 | €24,659 | +€24,624 | +70941.9% |
| Profit (loss) for the period | 9904 | €179,781 | €179,571 | -€210 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €179,781 | €179,571 | -€210 | -0.1% |
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 6 October 2026 via checked.be.