Adjuvo: 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.
Adjuvo
Largest movements
- Cash -€210,618
down €210,618 (-72.9%), from €288,786 to €78,168
mainly Contributions, distributions and other (-€380,000) and Receivables within one year (-€35,534)
- Receivables within one year +€35,534
up €35,534 (+53.7%), from €66,232 to €101,766
of which Other amounts receivable: +€36,504
- Profit (loss) carried forward -€193,381
down €193,381 (-56.6%), from €341,463 to €148,082
- Other debts +€61,086
up €61,086 (+616.9%), from €9,903 to €70,988
- Tax, wage and social debts -€33,109
down €33,109 (-50.7%), from €65,319 to €32,210
- Debts after one year -€12,321
down €12,321 (-5.9%), from €209,561 to €197,240
- Gross operating margin +€33,785
up €33,785 (+14.6%), from €232,145 to €265,930
- Depreciation -€32,684
down €32,684 (-76.5%), from €42,721 to €10,037
- Taxes +€16,452
up €16,452 (+36.9%), from €44,642 to €61,094
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 | €642,211 | €470,251 | -€171,960 | -26.8% |
| Fixed assets | 21/28 | €286,682 | €289,673 | +€2,990 | +1.0% |
| Tangible fixed assets | 22/27 | €286,682 | €289,673 | +€2,990 | +1.0% |
| Land and buildings | 22 | €279,054 | €278,425 | -€629 | -0.2% |
| Plant, machinery and equipment | 23 | - | €4,108 | +€4,108 | |
| Furniture and vehicles | 24 | €7,628 | €4,511 | -€3,117 | -40.9% |
| Other tangible fixed assets | 26 | - | €2,629 | +€2,629 | |
| Current assets | 29/58 | €355,529 | €180,578 | -€174,951 | -49.2% |
| Amounts receivable within one year | 40/41 | €66,232 | €101,766 | +€35,534 | +53.7% |
| Trade receivables | 40 | €66,232 | €65,262 | -€970 | -1.5% |
| Other amounts receivable | 41 | - | €36,504 | +€36,504 | |
| Cash at bank and in hand | 54/58 | €288,786 | €78,168 | -€210,618 | -72.9% |
| Deferred charges and accrued income | 490/1 | €511 | €644 | +€134 | +26.2% |
| Total equity and liabilities | 10/49 | €642,211 | €470,251 | -€171,960 | -26.8% |
| Equity | 10/15 | €342,463 | €149,082 | -€193,381 | -56.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €341,463 | €148,082 | -€193,381 | -56.6% |
| Amounts payable | 17/49 | €299,748 | €321,169 | +€21,421 | +7.1% |
| Amounts payable after more than one year | 17 | €209,561 | €197,240 | -€12,321 | -5.9% |
| Financial debts | 170/4 | €209,561 | €197,240 | -€12,321 | -5.9% |
| Amounts payable within one year | 42/48 | €90,187 | €123,929 | +€33,742 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €11,850 | €12,321 | +€471 | +4.0% |
| Trade debts | 44 | €3,116 | €8,410 | +€5,294 | +169.9% |
| Suppliers | 440/4 | €3,116 | €8,410 | +€5,294 | +169.9% |
| Taxes, remuneration and social security | 45 | €65,319 | €32,210 | -€33,109 | -50.7% |
| Taxes | 450/3 | €65,319 | €32,210 | -€33,109 | -50.7% |
| Other amounts payable | 47/48 | €9,903 | €70,988 | +€61,086 | +616.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,721 | €10,037 | -€32,684 | -76.5% |
| Other operating charges | 640/8 | €1,584 | €1,339 | -€245 | -15.5% |
| Gross operating margin | 9900 | €232,145 | €265,930 | +€33,785 | +14.6% |
| Operating profit (loss) | 9901 | €187,840 | €254,554 | +€66,714 | +35.5% |
| Financial income | 75/76B | €1,033 | €1,968 | +€935 | +90.5% |
| Recurring financial income | 75 | €1,033 | €1,968 | +€935 | +90.5% |
| Financial charges | 65/66B | €8,032 | €8,809 | +€777 | +9.7% |
| Recurring financial charges | 65 | €8,032 | €8,809 | +€777 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €180,841 | €247,713 | +€66,872 | +37.0% |
| Income taxes | 67/77 | €44,642 | €61,094 | +€16,452 | +36.9% |
| Profit (loss) for the period | 9904 | €136,198 | €186,619 | +€50,421 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €136,198 | €186,619 | +€50,421 | +37.0% |
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.