Adori: 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.
Adori
Largest movements
- Receivables within one year +€249,803
up €249,803 (+645%), from €38,734 to €288,537
of which Trade receivables: +€234,000
- Trade debts +€251,400
up €251,400 (+169%), from €149,162 to €400,562
- Provisions -€157,032
down €157,032 (-100%), from €157,032 to €0
- Tax, wage and social debts +€135,690
up €135,690 (+8,231%), from €1,649 to €137,339
- Reserves +€32,925
up €32,925 (+6.9%), from €477,988 to €510,913
of which Distributable reserves: +€504,022
- Taxes +€131,490
up €131,490 (+742,045%), from €18 to €131,508
- Gross operating margin +€73,442
up €73,442, from -€26,633 to €46,808
- Financial income -€15,077
down €15,077 (-98.1%), from €15,365 to €287
- Depreciation +€3,918
up €3,918 (+30.8%), from €12,724 to €16,642
- Financial charges -€1,603
down €1,603 (-51.1%), from €3,140 to €1,537
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.
Derived cash bridge
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 | €890,652 | €1,146,015 | +€255,363 | +28.7% |
| Fixed assets | 21/28 | €709,353 | €716,911 | +€7,558 | +1.1% |
| Tangible fixed assets | 22/27 | €708,553 | €716,111 | +€7,558 | +1.1% |
| Land and buildings | 22 | €708,553 | €716,111 | +€7,558 | +1.1% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €181,299 | €429,104 | +€247,805 | +137% |
| Amounts receivable within one year | 40/41 | €38,734 | €288,537 | +€249,803 | +645% |
| Trade receivables | 40 | €18,000 | €252,000 | +€234,000 | +1,300% |
| Other amounts receivable | 41 | €20,734 | €36,537 | +€15,803 | +76.2% |
| Current investments | 50/53 | €113,975 | €113,975 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,679 | €23,627 | -€2,052 | -8.0% |
| Deferred charges and accrued income | 490/1 | €2,911 | €2,965 | +€54 | +1.9% |
| Total equity and liabilities | 10/49 | €890,652 | €1,146,015 | +€255,363 | +28.7% |
| Equity | 10/15 | €497,988 | €530,913 | +€32,925 | +6.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €477,988 | €510,913 | +€32,925 | +6.9% |
| Tax-exempt reserves | 132 | €471,097 | €0 | -€471,097 | -100% |
| Distributable reserves | 133 | €6,891 | €510,913 | +€504,022 | +7,314% |
| Provisions and deferred taxes | 16 | €157,032 | €0 | -€157,032 | -100% |
| Deferred taxes | 168 | €157,032 | €0 | -€157,032 | -100% |
| Amounts payable | 17/49 | €235,631 | €615,102 | +€379,471 | +161% |
| Amounts payable within one year | 42/48 | €235,631 | €615,102 | +€379,471 | +161% |
| Trade debts | 44 | €149,162 | €400,562 | +€251,400 | +169% |
| Suppliers | 440/4 | €149,162 | €400,562 | +€251,400 | +169% |
| Taxes, remuneration and social security | 45 | €1,649 | €137,339 | +€135,690 | +8,231% |
| Taxes | 450/3 | €1,649 | €137,339 | +€135,690 | +8,231% |
| Other amounts payable | 47/48 | €84,821 | €77,201 | -€7,620 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,724 | €16,642 | +€3,918 | +30.8% |
| Other operating charges | 640/8 | €19,949 | €21,516 | +€1,568 | +7.9% |
| Gross operating margin | 9900 | -€26,633 | €46,808 | +€73,442 | |
| Operating profit (loss) | 9901 | -€59,306 | €8,650 | +€67,956 | |
| Financial income | 75/76B | €15,365 | €287 | -€15,077 | -98.1% |
| Recurring financial income | 75 | €15,365 | €287 | -€15,077 | -98.1% |
| Financial charges | 65/66B | €3,140 | €1,537 | -€1,603 | -51.1% |
| Recurring financial charges | 65 | €3,140 | €1,537 | -€1,603 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€47,082 | €7,400 | +€54,482 | |
| Transfer from deferred taxes | 780 | €73 | €157,032 | +€156,959 | +214,045% |
| Income taxes | 67/77 | €18 | €131,508 | +€131,490 | +742,045% |
| Profit (loss) for the period | 9904 | -€47,026 | €32,925 | +€79,951 | |
| Transfer from tax-exempt reserves | 789 | €220 | €471,097 | +€470,877 | +214,035% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,806 | €504,022 | +€550,828 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.