ADO 42: what changed
ADO 42
Largest movements
- Tangible fixed assets +€19,771
new in 2025: €19,771
- Receivables within one year +€6,567
up €6,567 (+140%), from €4,683 to €11,250
of which Other amounts receivable: +€3,852
- Cash -€1,022
down €1,022 (-35.4%), from €2,887 to €1,865
mainly Investment in fixed assets (net) (-€22,382) and Receivables within one year (-€6,567)
- Trade debts +€15,508
up €15,508 (+1,161%), from €1,336 to €16,845
- Profit (loss) carried forward +€9,555
up €9,555 (+227%), from €4,205 to €13,760
- Other debts +€503
new in 2025: €503
- Gross operating margin +€26,636
up €26,636 (+71.4%), from €37,308 to €63,945
- Staff costs +€18,887
up €18,887 (+62.8%), from €30,055 to €48,942
- Depreciation +€2,611
new in 2025: €2,611
- Other operating charges -€1,324
down €1,324 (-43.2%), from €3,063 to €1,739
- Taxes +€1,082
new in 2025: €1,082
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,742 | €37,308 | +€25,566 | +218% |
| Fixed assets | 21/28 | €120 | €19,891 | +€19,771 | +16,475% |
| Tangible fixed assets | 22/27 | - | €19,771 | +€19,771 | |
| Furniture and vehicles | 24 | - | €19,771 | +€19,771 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €11,622 | €17,417 | +€5,796 | +49.9% |
| Stocks and contracts in progress | 3 | €4,052 | €4,303 | +€251 | +6.2% |
| Stocks | 30/36 | €4,052 | €4,303 | +€251 | +6.2% |
| Amounts receivable within one year | 40/41 | €4,683 | €11,250 | +€6,567 | +140% |
| Trade receivables | 40 | - | €2,715 | +€2,715 | |
| Other amounts receivable | 41 | €4,683 | €8,535 | +€3,852 | +82.3% |
| Cash at bank and in hand | 54/58 | €2,887 | €1,865 | -€1,022 | -35.4% |
| Total equity and liabilities | 10/49 | €11,742 | €37,308 | +€25,566 | +218% |
| Equity | 10/15 | €10,405 | €19,960 | +€9,555 | +91.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,205 | €13,760 | +€9,555 | +227% |
| Amounts payable | 17/49 | €1,336 | €17,348 | +€16,011 | +1,198% |
| Amounts payable within one year | 42/48 | €1,336 | €17,348 | +€16,011 | +1,198% |
| Trade debts | 44 | €1,336 | €16,845 | +€15,508 | +1,161% |
| Suppliers | 440/4 | €1,336 | €16,845 | +€15,508 | +1,161% |
| Other amounts payable | 47/48 | - | €503 | +€503 | |
| Remuneration, social security and pensions | 62 | €30,055 | €48,942 | +€18,887 | +62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,611 | +€2,611 | |
| Other operating charges | 640/8 | €3,063 | €1,739 | -€1,324 | -43.2% |
| Gross operating margin | 9900 | €37,308 | €63,945 | +€26,636 | +71.4% |
| Operating profit (loss) | 9901 | €4,191 | €10,653 | +€6,462 | +154% |
| Financial charges | 65/66B | - | €16 | +€16 | |
| Recurring financial charges | 65 | - | €16 | +€16 | |
| Profit (loss) for the period before taxes | 9903 | €4,191 | €10,636 | +€6,445 | +154% |
| Income taxes | 67/77 | - | €1,082 | +€1,082 | |
| Profit (loss) for the period | 9904 | €4,191 | €9,555 | +€5,364 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €4,191 | €9,555 | +€5,364 | +128% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.