ADREBO: 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.
ADREBO
Largest movements
- Tangible fixed assets +€58,869
up €58,869 (+689%), from €8,540 to €67,409
- Receivables within one year +€3,518
up €3,518 (+18.3%), from €19,214 to €22,733
of which Trade receivables: +€5,307
- Cash +€3,175
up €3,175 (+7.6%), from €41,880 to €45,056
mainly Trade debts (+€66,598) and Net result for the year (+€43,827)
- Trade debts +€66,598
up €66,598 (+1,743%), from €3,820 to €70,417
- Profit (loss) carried forward +€43,827
up €43,827 (+94.7%), from -€46,267 to -€2,441
- Debts after one year -€42,500
down €42,500 (-85.0%), from €50,000 to €7,500
- Gross operating margin +€31,369
up €31,369 (+107%), from €29,324 to €60,693
- Taxes +€6,528
up €6,528 (+116%), from €5,617 to €12,146
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 | €71,858 | €137,453 | +€65,595 | +91.3% |
| Fixed assets | 21/28 | €8,540 | €67,409 | +€58,869 | +689% |
| Tangible fixed assets | 22/27 | €8,540 | €67,409 | +€58,869 | +689% |
| Furniture and vehicles | 24 | €8,540 | €67,409 | +€58,869 | +689% |
| Current assets | 29/58 | €63,318 | €70,044 | +€6,726 | +10.6% |
| Amounts receivable within one year | 40/41 | €19,214 | €22,733 | +€3,518 | +18.3% |
| Trade receivables | 40 | €13,206 | €18,513 | +€5,307 | +40.2% |
| Other amounts receivable | 41 | €6,009 | €4,220 | -€1,789 | -29.8% |
| Cash at bank and in hand | 54/58 | €41,880 | €45,056 | +€3,175 | +7.6% |
| Deferred charges and accrued income | 490/1 | €2,223 | €2,256 | +€32 | +1.4% |
| Total equity and liabilities | 10/49 | €71,858 | €137,453 | +€65,595 | +91.3% |
| Equity | 10/15 | -€8,094 | €35,733 | +€43,827 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €25,773 | €25,773 | = | 0.0% |
| Distributable reserves | 133 | €25,773 | €25,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,267 | -€2,441 | +€43,827 | +94.7% |
| Amounts payable | 17/49 | €79,952 | €101,721 | +€21,769 | +27.2% |
| Amounts payable after more than one year | 17 | €50,000 | €7,500 | -€42,500 | -85.0% |
| Financial debts | 170/4 | €50,000 | €7,500 | -€42,500 | -85.0% |
| Amounts payable within one year | 42/48 | €29,952 | €94,221 | +€64,269 | +215% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €3,820 | €70,417 | +€66,598 | +1,743% |
| Suppliers | 440/4 | €3,820 | €70,417 | +€66,598 | +1,743% |
| Taxes, remuneration and social security | 45 | €10,032 | €8,803 | -€1,229 | -12.3% |
| Taxes | 450/3 | €7,807 | €8,803 | +€996 | +12.8% |
| Remuneration and social security | 454/9 | €2,225 | €0 | -€2,225 | -100% |
| Other amounts payable | 47/48 | €1,100 | €0 | -€1,100 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,004 | €3,038 | +€34 | +1.1% |
| Other operating charges | 640/8 | €1,384 | €1,142 | -€242 | -17.5% |
| Gross operating margin | 9900 | €29,324 | €60,693 | +€31,369 | +107% |
| Operating profit (loss) | 9901 | €24,935 | €56,513 | +€31,577 | +127% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €340 | €540 | +€200 | +58.9% |
| Recurring financial charges | 65 | €340 | €540 | +€200 | +58.9% |
| Profit (loss) for the period before taxes | 9903 | €24,595 | €55,972 | +€31,377 | +128% |
| Income taxes | 67/77 | €5,617 | €12,146 | +€6,528 | +116% |
| Profit (loss) for the period | 9904 | €18,978 | €43,827 | +€24,848 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €18,978 | €43,827 | +€24,848 | +131% |
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 23 October 2026 via checked.be.