ADOXA: 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.
ADOXA
Largest movements
- Current investments +€1.0m
up €1.0m (+13.8%), from €7.4m to €8.5m
- Cash -€577,925
down €577,925 (-81.8%), from €706,306 to €128,381
mainly Current investments (-€1.0m) and Receivables after one year (-€319,358)
- Receivables after one year +€319,358
up €319,358 (+8.6%), from €3.7m to €4.0m
- Financial fixed assets -€300,000
down €300,000 (-12.0%), from €2.5m to €2.2m
- Profit (loss) carried forward +€243,213
up €243,213 (+7.6%), from -€3.2m to -€2.9m
- Gross operating margin -€761,271
down €761,271 (-81.3%), from €936,268 to €174,997
- Financial income -€293,745
down €293,745 (-42.3%), from €695,201 to €401,456
of which Non-recurring financial income: -€306,000
- Write-downs -€79,125
down €79,125 (-100%), from €79,125 to €0
- Financial charges -€78,514
down €78,514, from €59,903 to -€18,611
of which Non-recurring financial charges: -€306,000
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,127,056 | €20,368,180 | +€241,124 | +1.2% |
| Fixed assets | 21/28 | €5,872,474 | €5,408,213 | -€464,260 | -7.9% |
| Tangible fixed assets | 22/27 | €3,372,845 | €3,208,584 | -€164,260 | -4.9% |
| Land and buildings | 22 | €3,222,012 | €3,061,871 | -€160,141 | -5.0% |
| Furniture and vehicles | 24 | €118,233 | €114,113 | -€4,120 | -3.5% |
| Other tangible fixed assets | 26 | €32,600 | €32,600 | = | 0.0% |
| Financial fixed assets | 28 | €2,499,629 | €2,199,629 | -€300,000 | -12.0% |
| Current assets | 29/58 | €14,254,583 | €14,959,967 | +€705,384 | +4.9% |
| Amounts receivable after more than one year | 29 | €3,722,317 | €4,041,676 | +€319,358 | +8.6% |
| Other amounts receivable | 291 | €3,722,317 | €4,041,676 | +€319,358 | +8.6% |
| Amounts receivable within one year | 40/41 | €2,296,925 | €2,236,194 | -€60,731 | -2.6% |
| Trade receivables | 40 | €442,995 | €328,018 | -€114,977 | -26.0% |
| Other amounts receivable | 41 | €1,853,930 | €1,908,175 | +€54,246 | +2.9% |
| Current investments | 50/53 | €7,436,479 | €8,460,453 | +€1.0m | +13.8% |
| Cash at bank and in hand | 54/58 | €706,306 | €128,381 | -€577,925 | -81.8% |
| Deferred charges and accrued income | 490/1 | €92,556 | €93,263 | +€708 | +0.8% |
| Total equity and liabilities | 10/49 | €20,127,056 | €20,368,180 | +€241,124 | +1.2% |
| Equity | 10/15 | €20,077,340 | €20,320,553 | +€243,213 | +1.2% |
| Contributions | 10/11 | €23,268,600 | €23,268,600 | = | 0.0% |
| Reserves | 13 | €70 | €70 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €70 | €70 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,191,330 | -€2,948,117 | +€243,213 | +7.6% |
| Amounts payable | 17/49 | €49,716 | €47,627 | -€2,089 | -4.2% |
| Amounts payable within one year | 42/48 | €49,716 | €47,127 | -€2,589 | -5.2% |
| Trade debts | 44 | €0 | €3,056 | +€3,056 | |
| Suppliers | 440/4 | €0 | €3,056 | +€3,056 | |
| Advances received on contracts in progress | 46 | €10,800 | €10,800 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €38,889 | €30,832 | -€8,057 | -20.7% |
| Taxes | 450/3 | €18,133 | €12,362 | -€5,771 | -31.8% |
| Remuneration and social security | 454/9 | €20,756 | €18,470 | -€2,286 | -11.0% |
| Other amounts payable | 47/48 | €27 | €2,440 | +€2,413 | +8,980% |
| Accrued charges and deferred income | 492/3 | €0 | €500 | +€500 | |
| Non-recurring operating income | 76A | €782,065 | €0 | -€782,065 | -100% |
| Remuneration, social security and pensions | 62 | €145,906 | €142,610 | -€3,295 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,057 | €170,077 | +€1,019 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €79,125 | €0 | -€79,125 | -100% |
| Other operating charges | 640/8 | €45,829 | €39,165 | -€6,664 | -14.5% |
| Gross operating margin | 9900 | €936,268 | €174,997 | -€761,271 | -81.3% |
| Operating profit (loss) | 9901 | €496,351 | -€176,854 | -€673,206 | |
| Financial income | 75/76B | €695,201 | €401,456 | -€293,745 | -42.3% |
| Recurring financial income | 75 | €389,201 | €401,456 | +€12,255 | +3.1% |
| Non-recurring financial income | 76B | €306,000 | €0 | -€306,000 | -100% |
| Financial charges | 65/66B | €59,903 | -€18,611 | -€78,514 | |
| Recurring financial charges | 65 | -€246,097 | -€18,611 | +€227,486 | +92.4% |
| Non-recurring financial charges | 66B | €306,000 | €0 | -€306,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €1,131,650 | €243,213 | -€888,437 | -78.5% |
| Profit (loss) for the period | 9904 | €1,131,650 | €243,213 | -€888,437 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,131,650 | €243,213 | -€888,437 | -78.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.