ADQ FINANCE: what changed
ADQ FINANCE
Largest movements
- Cash +€33,647
up €33,647 (+278%), from €12,084 to €45,731
mainly Net result for the year (+€15,429) and Receivables within one year (+€14,857)
- Receivables within one year -€14,857
down €14,857 (-78.8%), from €18,857 to €4,000
of which Trade receivables: -€11,800
- Tangible fixed assets +€3,108
up €3,108 (+52.1%), from €5,965 to €9,073
of which Furniture and vehicles: +€3,678
- Reserves +€15,429
up €15,429 (+179%), from €8,618 to €24,047
- Tax, wage and social debts +€4,508
up €4,508 (+102%), from €4,399 to €8,908
of which Taxes: +€2,596
- Trade debts +€1,643
up €1,643 (+33.7%), from €4,876 to €6,518
- Gross operating margin +€10,982
up €10,982 (+70.7%), from €15,528 to €26,510
- Taxes +€2,596
up €2,596 (+59.0%), from €4,399 to €6,996
- Depreciation +€1,021
up €1,021 (+51.8%), from €1,971 to €2,991
- Financial income -€500
down €500 (-100.0%), from €500 to €0
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 | €36,906 | €58,804 | +€21,898 | +59.3% |
| Fixed assets | 21/28 | €5,965 | €9,073 | +€3,108 | +52.1% |
| Tangible fixed assets | 22/27 | €5,965 | €9,073 | +€3,108 | +52.1% |
| Plant, machinery and equipment | 23 | €1,898 | €1,328 | -€570 | -30.0% |
| Furniture and vehicles | 24 | €4,067 | €7,745 | +€3,678 | +90.4% |
| Current assets | 29/58 | €30,941 | €49,731 | +€18,790 | +60.7% |
| Amounts receivable within one year | 40/41 | €18,857 | €4,000 | -€14,857 | -78.8% |
| Trade receivables | 40 | €11,800 | - | -€11,800 | |
| Other amounts receivable | 41 | €7,057 | €4,000 | -€3,057 | -43.3% |
| Cash at bank and in hand | 54/58 | €12,084 | €45,731 | +€33,647 | +278% |
| Total equity and liabilities | 10/49 | €36,906 | €58,804 | +€21,898 | +59.3% |
| Equity | 10/15 | €27,631 | €43,060 | +€15,429 | +55.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,618 | €24,047 | +€15,429 | +179% |
| Distributable reserves | 133 | €8,618 | €24,047 | +€15,429 | +179% |
| Profit (loss) carried forward | 14 | €412 | €412 | = | 0.0% |
| Amounts payable | 17/49 | €9,275 | €15,744 | +€6,469 | +69.7% |
| Amounts payable within one year | 42/48 | €9,275 | €15,744 | +€6,469 | +69.7% |
| Trade debts | 44 | €4,876 | €6,518 | +€1,643 | +33.7% |
| Suppliers | 440/4 | €4,876 | €6,518 | +€1,643 | +33.7% |
| Taxes, remuneration and social security | 45 | €4,399 | €8,908 | +€4,508 | +102% |
| Taxes | 450/3 | €4,399 | €6,996 | +€2,596 | +59.0% |
| Remuneration and social security | 454/9 | - | €1,912 | +€1,912 | |
| Other amounts payable | 47/48 | - | €318 | +€318 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,971 | €2,991 | +€1,021 | +51.8% |
| Other operating charges | 640/8 | €705 | €734 | +€29 | +4.1% |
| Gross operating margin | 9900 | €15,528 | €26,510 | +€10,982 | +70.7% |
| Operating profit (loss) | 9901 | €12,852 | €22,784 | +€9,933 | +77.3% |
| Financial income | 75/76B | €500 | €0 | -€500 | -100.0% |
| Recurring financial income | 75 | €500 | €0 | -€500 | -100.0% |
| Financial charges | 65/66B | €334 | €360 | +€26 | +7.7% |
| Recurring financial charges | 65 | €334 | €360 | +€26 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €13,018 | €22,425 | +€9,407 | +72.3% |
| Income taxes | 67/77 | €4,399 | €6,996 | +€2,596 | +59.0% |
| Profit (loss) for the period | 9904 | €8,618 | €15,429 | +€6,811 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,618 | €15,429 | +€6,811 | +79.0% |
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 6 November 2026 via checked.be.