ADQUALIS: 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.
ADQUALIS
Largest movements
- Cash +€26,346
up €26,346 (+66.6%), from €39,529 to €65,875
mainly Net result for the year (+€29,269) and Depreciation (+€12,034)
- Receivables within one year -€2,987
down €2,987 (-11.3%), from €26,364 to €23,377
- Profit (loss) carried forward +€29,269
up €29,269 (+56.0%), from €52,305 to €81,573
- Other debts -€12,819
down €12,819 (-54.8%), from €23,381 to €10,562
- Tax, wage and social debts +€6,027
up €6,027 (+34.7%), from €17,376 to €23,403
of which Taxes: +€6,011
- Accrued charges and deferred income +€1,306
new in 2025: €1,306
- Gross operating margin -€4,075
down €4,075 (-7.5%), from €54,538 to €50,463
- Taxes -€1,361
down €1,361 (-14.8%), from €9,220 to €7,859
- Depreciation +€1,355
up €1,355 (+12.7%), from €10,680 to €12,034
- Financial charges +€1,310
up €1,310 (+1915.8%), from €68 to €1,379
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 | €99,626 | €123,085 | +€23,460 | +23.5% |
| Formation expenses | 20 | €713 | €67 | -€645 | -90.6% |
| Fixed assets | 21/28 | €31,438 | €32,385 | +€947 | +3.0% |
| Tangible fixed assets | 22/27 | €31,438 | €32,385 | +€947 | +3.0% |
| Plant, machinery and equipment | 23 | - | €4,093 | +€4,093 | |
| Furniture and vehicles | 24 | €31,438 | €28,292 | -€3,146 | -10.0% |
| Current assets | 29/58 | €67,475 | €90,633 | +€23,158 | +34.3% |
| Amounts receivable within one year | 40/41 | €26,364 | €23,377 | -€2,987 | -11.3% |
| Trade receivables | 40 | €26,364 | €23,377 | -€2,987 | -11.3% |
| Cash at bank and in hand | 54/58 | €39,529 | €65,875 | +€26,346 | +66.6% |
| Deferred charges and accrued income | 490/1 | €1,582 | €1,381 | -€201 | -12.7% |
| Total equity and liabilities | 10/49 | €99,626 | €123,085 | +€23,460 | +23.5% |
| Equity | 10/15 | €56,305 | €85,573 | +€29,269 | +52.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,305 | €81,573 | +€29,269 | +56.0% |
| Amounts payable | 17/49 | €43,321 | €37,512 | -€5,809 | -13.4% |
| Amounts payable within one year | 42/48 | €43,321 | €36,205 | -€7,115 | -16.4% |
| Trade debts | 44 | €2,563 | €2,240 | -€323 | -12.6% |
| Suppliers | 440/4 | €2,563 | €2,240 | -€323 | -12.6% |
| Taxes, remuneration and social security | 45 | €17,376 | €23,403 | +€6,027 | +34.7% |
| Taxes | 450/3 | €17,376 | €23,387 | +€6,011 | +34.6% |
| Remuneration and social security | 454/9 | - | €16 | +€16 | |
| Other amounts payable | 47/48 | €23,381 | €10,562 | -€12,819 | -54.8% |
| Accrued charges and deferred income | 492/3 | - | €1,306 | +€1,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,680 | €12,034 | +€1,355 | +12.7% |
| Other operating charges | 640/8 | €98 | €162 | +€65 | +66.3% |
| Gross operating margin | 9900 | €54,538 | €50,463 | -€4,075 | -7.5% |
| Operating profit (loss) | 9901 | €43,760 | €38,266 | -€5,494 | -12.6% |
| Financial income | 75/76B | - | €240 | +€240 | |
| Recurring financial income | 75 | - | €240 | +€240 | |
| Financial charges | 65/66B | €68 | €1,379 | +€1,310 | +1915.8% |
| Recurring financial charges | 65 | €68 | €1,379 | +€1,310 | +1915.8% |
| Profit (loss) for the period before taxes | 9903 | €43,692 | €37,128 | -€6,564 | -15.0% |
| Income taxes | 67/77 | €9,220 | €7,859 | -€1,361 | -14.8% |
| Profit (loss) for the period | 9904 | €34,472 | €29,269 | -€5,203 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,472 | €29,269 | -€5,203 | -15.1% |
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 3 October 2026 via checked.be.