ADONIS: 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.
ADONIS
Largest movements
- Tangible fixed assets +€44,845
up €44,845 (+7.8%), from €571,298 to €616,143
of which Furniture and vehicles: +€42,911
- Cash +€20,669
up €20,669 (+149.4%), from €13,830 to €34,499
mainly Short-term financial debts (+€25,000) and Stocks and contracts (+€19,306)
- Stocks and contracts -€19,306
down €19,306 (-16.5%), from €116,969 to €97,663
- Short-term financial debts +€25,000
up €25,000 (+10.0%), from €250,000 to €275,000
- Trade debts +€12,709
up €12,709 (+53.2%), from €23,907 to €36,616
- Current portion of long-term debt +€12,386
up €12,386 (+46.4%), from €26,708 to €39,094
- Gross operating margin +€23,041
up €23,041 (+20.5%), from €112,173 to €135,213
- Staff costs +€16,825
up €16,825 (+26.2%), from €64,282 to €81,107
- Financial charges -€3,131
down €3,131 (-10.5%), from €29,795 to €26,664
- Depreciation +€2,124
up €2,124 (+13.9%), from €15,232 to €17,356
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 | €713,339 | €762,220 | +€48,882 | +6.9% |
| Fixed assets | 21/28 | €571,671 | €616,347 | +€44,676 | +7.8% |
| Intangible fixed assets | 21 | €169 | - | -€169 | |
| Tangible fixed assets | 22/27 | €571,298 | €616,143 | +€44,845 | +7.8% |
| Land and buildings | 22 | €494,965 | €487,675 | -€7,290 | -1.5% |
| Plant, machinery and equipment | 23 | €74,065 | €83,290 | +€9,225 | +12.5% |
| Furniture and vehicles | 24 | €2,267 | €45,178 | +€42,911 | +1892.6% |
| Financial fixed assets | 28 | €204 | €204 | = | 0.0% |
| Current assets | 29/58 | €141,668 | €145,873 | +€4,205 | +3.0% |
| Stocks and contracts in progress | 3 | €116,969 | €97,663 | -€19,306 | -16.5% |
| Stocks | 30/36 | €116,969 | €97,663 | -€19,306 | -16.5% |
| Amounts receivable within one year | 40/41 | €10,113 | €10,521 | +€408 | +4.0% |
| Trade receivables | 40 | €659 | €2,361 | +€1,703 | +258.5% |
| Other amounts receivable | 41 | €9,455 | €8,160 | -€1,295 | -13.7% |
| Cash at bank and in hand | 54/58 | €13,830 | €34,499 | +€20,669 | +149.4% |
| Deferred charges and accrued income | 490/1 | €755 | €3,190 | +€2,435 | +322.5% |
| Total equity and liabilities | 10/49 | €713,339 | €762,220 | +€48,882 | +6.9% |
| Equity | 10/15 | €126,060 | €125,796 | -€264 | -0.2% |
| Contributions | 10/11 | €25,781 | €25,781 | = | 0.0% |
| Reserves | 13 | €100,279 | €100,015 | -€264 | -0.3% |
| Distributable reserves | 133 | €100,279 | €100,015 | -€264 | -0.3% |
| Amounts payable | 17/49 | €587,279 | €636,424 | +€49,146 | +8.4% |
| Amounts payable after more than one year | 17 | €262,794 | €257,776 | -€5,018 | -1.9% |
| Financial debts | 170/4 | €262,794 | €257,776 | -€5,018 | -1.9% |
| Amounts payable within one year | 42/48 | €323,095 | €375,399 | +€52,305 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €26,708 | €39,094 | +€12,386 | +46.4% |
| Financial debts | 43 | €250,000 | €275,000 | +€25,000 | +10.0% |
| Credit institutions | 430/8 | €250,000 | €275,000 | +€25,000 | +10.0% |
| Trade debts | 44 | €23,907 | €36,616 | +€12,709 | +53.2% |
| Suppliers | 440/4 | €23,907 | €36,616 | +€12,709 | +53.2% |
| Taxes, remuneration and social security | 45 | €20,814 | €23,024 | +€2,209 | +10.6% |
| Taxes | 450/3 | €14,721 | €9,545 | -€5,176 | -35.2% |
| Remuneration and social security | 454/9 | €6,094 | €13,479 | +€7,385 | +121.2% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,390 | €3,249 | +€1,859 | +133.8% |
| Remuneration, social security and pensions | 62 | €64,282 | €81,107 | +€16,825 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,232 | €17,356 | +€2,124 | +13.9% |
| Other operating charges | 640/8 | €9,515 | €9,550 | +€35 | +0.4% |
| Gross operating margin | 9900 | €112,173 | €135,213 | +€23,041 | +20.5% |
| Operating profit (loss) | 9901 | €23,143 | €27,200 | +€4,057 | +17.5% |
| Financial income | 75/76B | €2,289 | €1,199 | -€1,090 | -47.6% |
| Recurring financial income | 75 | €2,289 | €1,199 | -€1,090 | -47.6% |
| Financial charges | 65/66B | €29,795 | €26,664 | -€3,131 | -10.5% |
| Recurring financial charges | 65 | €29,795 | €26,664 | -€3,131 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,362 | €1,735 | +€6,097 | |
| Income taxes | 67/77 | €327 | €333 | +€6 | +1.8% |
| Profit (loss) for the period | 9904 | -€4,690 | €1,402 | +€6,091 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,690 | €1,402 | +€6,091 |
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 8 October 2026 via checked.be.