ADNIGO: 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.
ADNIGO
Largest movements
- Cash -€411,143
down €411,143 (-70.8%), from €580,781 to €169,638
mainly Current investments (-€400,000) and Provisions (-€83,489)
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets -€48,795
down €48,795 (-8.3%), from €586,335 to €537,540
of which Land and buildings: -€48,776
- Profit (loss) carried forward +€258,920
up €258,920, from -€258,920 to €0
- Reserves -€223,311
down €223,311 (-34.2%), from €653,654 to €430,343
of which Tax-exempt reserves: -€250,466
- Provisions -€83,489
down €83,489 (-100.0%), from €83,489 to €0
- Debts after one year -€20,514
down €20,514 (-3.6%), from €563,697 to €543,183
of which Financial debts: -€58,852
- Gross operating margin +€26,634
up €26,634 (+67.1%), from €39,677 to €66,311
- Taxes +€10,338
new in 2025: €10,338
- Financial income +€8,528
up €8,528 (+170566.6%), from €5 to €8,533
- Financial charges +€2,834
up €2,834 (+23.8%), from €11,903 to €14,737
- Depreciation +€1,828
up €1,828 (+3.6%), from €50,273 to €52,101
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 | €1,168,190 | €1,108,191 | -€59,999 | -5.1% |
| Fixed assets | 21/28 | €586,335 | €537,540 | -€48,795 | -8.3% |
| Tangible fixed assets | 22/27 | €586,335 | €537,540 | -€48,795 | -8.3% |
| Land and buildings | 22 | €586,316 | €537,540 | -€48,776 | -8.3% |
| Furniture and vehicles | 24 | €19 | €0 | -€19 | -100.0% |
| Current assets | 29/58 | €581,855 | €570,651 | -€11,204 | -1.9% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €580,781 | €169,638 | -€411,143 | -70.8% |
| Deferred charges and accrued income | 490/1 | €1,074 | €1,012 | -€62 | -5.7% |
| Total equity and liabilities | 10/49 | €1,168,190 | €1,108,191 | -€59,999 | -5.1% |
| Equity | 10/15 | €456,845 | €492,454 | +€35,609 | +7.8% |
| Contributions | 10/11 | €62,111 | €62,111 | +€0 | 0.0% |
| Capital | 10 | €62,111 | €62,111 | +€0 | 0.0% |
| Issued capital | 100 | €62,111 | €62,111 | +€0 | 0.0% |
| Reserves | 13 | €653,654 | €430,343 | -€223,311 | -34.2% |
| Non-distributable reserves | 130/1 | €120,930 | €120,930 | -€0 | 0.0% |
| Legal reserve | 130 | €120,930 | €120,930 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €250,466 | €0 | -€250,466 | -100.0% |
| Distributable reserves | 133 | €282,258 | €309,413 | +€27,155 | +9.6% |
| Profit (loss) carried forward | 14 | -€258,920 | €0 | +€258,920 | |
| Provisions and deferred taxes | 16 | €83,489 | €0 | -€83,489 | -100.0% |
| Deferred taxes | 168 | €83,489 | €0 | -€83,489 | -100.0% |
| Amounts payable | 17/49 | €627,856 | €615,737 | -€12,119 | -1.9% |
| Amounts payable after more than one year | 17 | €563,697 | €543,183 | -€20,514 | -3.6% |
| Financial debts | 170/4 | €563,697 | €504,845 | -€58,852 | -10.4% |
| Other amounts payable | 178/9 | - | €38,338 | +€38,338 | |
| Amounts payable within one year | 42/48 | €64,159 | €72,554 | +€8,395 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €57,812 | €58,852 | +€1,040 | +1.8% |
| Trade debts | 44 | €6,347 | €5,924 | -€423 | -6.7% |
| Suppliers | 440/4 | €6,347 | €5,924 | -€423 | -6.7% |
| Taxes, remuneration and social security | 45 | - | €7,778 | +€7,778 | |
| Taxes | 450/3 | - | €7,778 | +€7,778 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,273 | €52,101 | +€1,828 | +3.6% |
| Other operating charges | 640/8 | €45,206 | €45,548 | +€342 | +0.8% |
| Gross operating margin | 9900 | €39,677 | €66,311 | +€26,634 | +67.1% |
| Operating profit (loss) | 9901 | -€55,802 | -€31,338 | +€24,464 | +43.8% |
| Financial income | 75/76B | €5 | €8,533 | +€8,528 | +170566.6% |
| Recurring financial income | 75 | €5 | €8,533 | +€8,528 | +170566.6% |
| Financial charges | 65/66B | €11,903 | €14,737 | +€2,834 | +23.8% |
| Recurring financial charges | 65 | €11,903 | €14,737 | +€2,834 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | -€67,700 | -€37,542 | +€30,158 | +44.5% |
| Transfer from deferred taxes | 780 | - | €83,489 | +€83,489 | |
| Income taxes | 67/77 | - | €10,338 | +€10,338 | |
| Profit (loss) for the period | 9904 | -€67,700 | €35,609 | +€103,309 | |
| Transfer from tax-exempt reserves | 789 | - | €250,466 | +€250,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,700 | €286,075 | +€353,775 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.