ADQUATION: 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.
ADQUATION
Largest movements
- Cash +€43,849
up €43,849 (+315%), from €13,912 to €57,761
mainly Receivables within one year (+€10,067) and Net result for the year (+€9,844)
- Receivables within one year -€10,067
down €10,067 (-70.2%), from €14,343 to €4,277
of which Trade receivables: -€10,017
- Stocks and contracts -€6,098
down €6,098 (-36.4%), from €16,740 to €10,642
- Debts after one year +€8,597
up €8,597 (+66.1%), from €13,000 to €21,597
- Reserves +€7,585
up €7,585 (+115%), from €6,600 to €14,185
- Other debts +€7,415
up €7,415 (+52.9%), from €14,008 to €21,423
- Current portion of long-term debt -€2,865
no longer reported in 2025 (was €2,865)
- Tax, wage and social debts +€2,710
up €2,710 (+171%), from €1,585 to €4,294
- Purchases and services +€18,497
up €18,497 (+18.6%), from €99,695 to €118,191
- Gross operating margin +€9,304
up €9,304 (+215%), from €4,326 to €13,631
- Taxes +€2,218
up €2,218 (+422%), from €526 to €2,744
- Depreciation -€344
no longer reported in 2025 (was €344)
- Other operating charges -€268
down €268 (-27.3%), from €979 to €711
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 | €44,995 | €72,779 | +€27,784 | +61.7% |
| Current assets | 29/58 | €44,995 | €72,779 | +€27,784 | +61.7% |
| Stocks and contracts in progress | 3 | €16,740 | €10,642 | -€6,098 | -36.4% |
| Stocks | 30/36 | €16,740 | €10,642 | -€6,098 | -36.4% |
| Amounts receivable within one year | 40/41 | €14,343 | €4,277 | -€10,067 | -70.2% |
| Trade receivables | 40 | €13,366 | €3,349 | -€10,017 | -74.9% |
| Other amounts receivable | 41 | €977 | €927 | -€49 | -5.0% |
| Cash at bank and in hand | 54/58 | €13,912 | €57,761 | +€43,849 | +315% |
| Deferred charges and accrued income | 490/1 | - | €100 | +€100 | |
| Total equity and liabilities | 10/49 | €44,995 | €72,779 | +€27,784 | +61.7% |
| Equity | 10/15 | €10,541 | €20,385 | +€9,844 | +93.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,600 | €14,185 | +€7,585 | +115% |
| Distributable reserves | 133 | €6,600 | €14,185 | +€7,585 | +115% |
| Profit (loss) carried forward | 14 | -€2,259 | - | +€2,259 | |
| Amounts payable | 17/49 | €34,454 | €52,394 | +€17,940 | +52.1% |
| Amounts payable after more than one year | 17 | €13,000 | €21,597 | +€8,597 | +66.1% |
| Other amounts payable | 178/9 | €13,000 | €21,597 | +€8,597 | +66.1% |
| Amounts payable within one year | 42/48 | €21,454 | €30,797 | +€9,343 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | €2,865 | - | -€2,865 | |
| Trade debts | 44 | €2,996 | €5,080 | +€2,084 | +69.6% |
| Suppliers | 440/4 | €2,996 | €5,080 | +€2,084 | +69.6% |
| Taxes, remuneration and social security | 45 | €1,585 | €4,294 | +€2,710 | +171% |
| Taxes | 450/3 | €1,585 | €4,294 | +€2,710 | +171% |
| Other amounts payable | 47/48 | €14,008 | €21,423 | +€7,415 | +52.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €99,695 | €118,191 | +€18,497 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344 | - | -€344 | |
| Other operating charges | 640/8 | €979 | €711 | -€268 | -27.3% |
| Gross operating margin | 9900 | €4,326 | €13,631 | +€9,304 | +215% |
| Operating profit (loss) | 9901 | €3,003 | €12,919 | +€9,917 | +330% |
| Financial income | 75/76B | €388 | €603 | +€215 | +55.3% |
| Recurring financial income | 75 | €388 | €603 | +€215 | +55.3% |
| Financial charges | 65/66B | €977 | €934 | -€43 | -4.4% |
| Recurring financial charges | 65 | €977 | €584 | -€393 | -40.3% |
| Non-recurring financial charges | 66B | - | €350 | +€350 | |
| Profit (loss) for the period before taxes | 9903 | €2,414 | €12,588 | +€10,175 | +422% |
| Income taxes | 67/77 | €526 | €2,744 | +€2,218 | +422% |
| Profit (loss) for the period | 9904 | €1,888 | €9,844 | +€7,956 | +421% |
| Profit (loss) for the period to be appropriated | 9905 | €1,888 | €9,844 | +€7,956 | +421% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.