ADREBO CONSTRUCT: 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.
ADREBO CONSTRUCT
Largest movements
- Receivables within one year +€430,076
up €430,076 (+180.4%), from €238,366 to €668,442
of which Trade receivables: +€415,093
- Cash +€155,052
up €155,052 (+634.9%), from €24,422 to €179,474
mainly Trade debts (+€210,576) and Accrued charges and deferred income (+€177,399)
- Tangible fixed assets -€81,504
down €81,504 (-14.9%), from €548,028 to €466,524
of which Land and buildings: -€68,877
- Stocks and contracts +€80,537
up €80,537 (+402.7%), from €20,000 to €100,537
- Trade debts +€210,576
up €210,576 (+149.4%), from €140,935 to €351,511
- Accrued charges and deferred income +€177,399
new in 2025: €177,399
- Other debts +€121,316
up €121,316 (+199.1%), from €60,946 to €182,262
- Debts after one year +€107,024
up €107,024 (+21.3%), from €503,214 to €610,238
- Short-term financial debts -€65,328
down €65,328 (-100.0%), from €65,328 to €0
- Gross operating margin -€10,247
down €10,247 (-17.8%), from €57,437 to €47,190
- Depreciation -€10,131
down €10,131 (-39.5%), from €25,631 to €15,500
- Other operating charges +€2,375
up €2,375 (+76.8%), from €3,094 to €5,469
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 | €851,966 | €1,430,811 | +€578,845 | +67.9% |
| Fixed assets | 21/28 | €569,178 | €480,257 | -€88,922 | -15.6% |
| Tangible fixed assets | 22/27 | €548,028 | €466,524 | -€81,504 | -14.9% |
| Land and buildings | 22 | €533,541 | €464,664 | -€68,877 | -12.9% |
| Plant, machinery and equipment | 23 | €9,135 | €0 | -€9,135 | -100.0% |
| Furniture and vehicles | 24 | €5,353 | €1,860 | -€3,492 | -65.2% |
| Financial fixed assets | 28 | €21,150 | €13,733 | -€7,417 | -35.1% |
| Current assets | 29/58 | €282,788 | €950,554 | +€667,766 | +236.1% |
| Stocks and contracts in progress | 3 | €20,000 | €100,537 | +€80,537 | +402.7% |
| Contracts in progress | 37 | €20,000 | €100,537 | +€80,537 | +402.7% |
| Amounts receivable within one year | 40/41 | €238,366 | €668,442 | +€430,076 | +180.4% |
| Trade receivables | 40 | €180,474 | €595,568 | +€415,093 | +230.0% |
| Other amounts receivable | 41 | €57,891 | €72,874 | +€14,983 | +25.9% |
| Cash at bank and in hand | 54/58 | €24,422 | €179,474 | +€155,052 | +634.9% |
| Deferred charges and accrued income | 490/1 | €0 | €2,101 | +€2,101 | |
| Total equity and liabilities | 10/49 | €851,966 | €1,430,811 | +€578,845 | +67.9% |
| Equity | 10/15 | €62,343 | €63,252 | +€910 | +1.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €29,006 | €29,006 | = | 0.0% |
| Distributable reserves | 133 | €29,006 | €29,006 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,337 | €4,247 | +€910 | +27.3% |
| Amounts payable | 17/49 | €789,623 | €1,367,559 | +€577,935 | +73.2% |
| Amounts payable after more than one year | 17 | €503,214 | €610,238 | +€107,024 | +21.3% |
| Financial debts | 170/4 | €503,214 | €610,238 | +€107,024 | +21.3% |
| Amounts payable within one year | 42/48 | €286,409 | €579,921 | +€293,513 | +102.5% |
| Current portion of amounts payable after more than one year | 42 | €12,025 | €36,876 | +€24,851 | +206.7% |
| Financial debts | 43 | €65,328 | €0 | -€65,328 | -100.0% |
| Credit institutions | 430/8 | €65,328 | €0 | -€65,328 | -100.0% |
| Trade debts | 44 | €140,935 | €351,511 | +€210,576 | +149.4% |
| Suppliers | 440/4 | €140,935 | €351,511 | +€210,576 | +149.4% |
| Taxes, remuneration and social security | 45 | €7,175 | €9,273 | +€2,098 | +29.2% |
| Taxes | 450/3 | €7,175 | €9,273 | +€2,098 | +29.2% |
| Other amounts payable | 47/48 | €60,946 | €182,262 | +€121,316 | +199.1% |
| Accrued charges and deferred income | 492/3 | - | €177,399 | +€177,399 | |
| Non-recurring operating income | 76A | €0 | €5,850 | +€5,850 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,631 | €15,500 | -€10,131 | -39.5% |
| Other operating charges | 640/8 | €3,094 | €5,469 | +€2,375 | +76.8% |
| Gross operating margin | 9900 | €57,437 | €47,190 | -€10,247 | -17.8% |
| Operating profit (loss) | 9901 | €28,712 | €26,221 | -€2,491 | -8.7% |
| Financial income | 75/76B | €8 | €260 | +€252 | +3339.4% |
| Recurring financial income | 75 | €8 | €260 | +€252 | +3339.4% |
| Financial charges | 65/66B | €25,490 | €25,157 | -€332 | -1.3% |
| Recurring financial charges | 65 | €25,490 | €25,157 | -€332 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €3,230 | €1,324 | -€1,906 | -59.0% |
| Income taxes | 67/77 | €748 | €415 | -€333 | -44.6% |
| Profit (loss) for the period | 9904 | €2,483 | €910 | -€1,573 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,483 | €910 | -€1,573 | -63.4% |
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 6 October 2026 via checked.be.