Adri Grade: 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.
Adri Grade
Largest movements
- Receivables within one year -€39,146
down €39,146 (-33.6%), from €116,388 to €77,241
of which Trade receivables: -€33,759
- Tangible fixed assets -€34,228
down €34,228 (-38.3%), from €89,393 to €55,165
of which Leasing and similar rights: -€24,454
- Cash +€18,701
up €18,701 (+31.1%), from €60,087 to €78,788
mainly Receivables within one year (+€39,146) and Depreciation (+€35,174)
- Trade debts -€25,933
down €25,933 (-18.8%), from €138,262 to €112,330
- Debts after one year -€18,918
down €18,918 (-42.9%), from €44,061 to €25,143
- Current portion of long-term debt -€7,777
down €7,777 (-28.9%), from €26,901 to €19,124
- Taxes +€3,703
new in 2025: €3,703
- Staff costs +€3,295
up €3,295 (+6.4%), from €51,861 to €55,156
- Gross operating margin -€1,258
down €1,258 (-1.2%), from €105,047 to €103,790
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 | €286,554 | €233,395 | -€53,159 | -18.6% |
| Fixed assets | 21/28 | €89,393 | €55,165 | -€34,228 | -38.3% |
| Tangible fixed assets | 22/27 | €89,393 | €55,165 | -€34,228 | -38.3% |
| Land and buildings | 22 | €3,981 | €2,168 | -€1,814 | -45.6% |
| Plant, machinery and equipment | 23 | €17,888 | €9,595 | -€8,293 | -46.4% |
| Furniture and vehicles | 24 | €496 | €830 | +€333 | +67.2% |
| Leasing and similar rights | 25 | €67,028 | €42,573 | -€24,454 | -36.5% |
| Current assets | 29/58 | €197,160 | €178,230 | -€18,930 | -9.6% |
| Stocks and contracts in progress | 3 | €17,814 | €18,080 | +€266 | +1.5% |
| Stocks | 30/36 | €17,814 | €18,080 | +€266 | +1.5% |
| Amounts receivable within one year | 40/41 | €116,388 | €77,241 | -€39,146 | -33.6% |
| Trade receivables | 40 | €102,504 | €68,745 | -€33,759 | -32.9% |
| Other amounts receivable | 41 | €13,884 | €8,496 | -€5,388 | -38.8% |
| Cash at bank and in hand | 54/58 | €60,087 | €78,788 | +€18,701 | +31.1% |
| Deferred charges and accrued income | 490/1 | €2,871 | €4,121 | +€1,249 | +43.5% |
| Total equity and liabilities | 10/49 | €286,554 | €233,395 | -€53,159 | -18.6% |
| Equity | 10/15 | €67,463 | €68,465 | +€1,002 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,863 | €49,865 | +€1,002 | +2.0% |
| Distributable reserves | 133 | €48,863 | €49,865 | +€1,002 | +2.0% |
| Amounts payable | 17/49 | €219,090 | €164,930 | -€54,160 | -24.7% |
| Amounts payable after more than one year | 17 | €44,061 | €25,143 | -€18,918 | -42.9% |
| Financial debts | 170/4 | €44,061 | €25,143 | -€18,918 | -42.9% |
| Amounts payable within one year | 42/48 | €175,029 | €139,787 | -€35,242 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €26,901 | €19,124 | -€7,777 | -28.9% |
| Trade debts | 44 | €138,262 | €112,330 | -€25,933 | -18.8% |
| Suppliers | 440/4 | €138,262 | €112,330 | -€25,933 | -18.8% |
| Taxes, remuneration and social security | 45 | €4,834 | €3,302 | -€1,532 | -31.7% |
| Remuneration and social security | 454/9 | €4,834 | €3,302 | -€1,532 | -31.7% |
| Other amounts payable | 47/48 | €5,031 | €5,031 | = | 0.0% |
| Non-recurring operating income | 76A | €790 | €117 | -€673 | -85.2% |
| Remuneration, social security and pensions | 62 | €51,861 | €55,156 | +€3,295 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,060 | €35,174 | +€114 | +0.3% |
| Other operating charges | 640/8 | €3,438 | €4,331 | +€893 | +26.0% |
| Gross operating margin | 9900 | €105,047 | €103,790 | -€1,258 | -1.2% |
| Operating profit (loss) | 9901 | €14,688 | €9,128 | -€5,560 | -37.9% |
| Financial income | 75/76B | €284 | €38 | -€246 | -86.5% |
| Recurring financial income | 75 | €284 | €38 | -€246 | -86.5% |
| Financial charges | 65/66B | €5,170 | €4,462 | -€708 | -13.7% |
| Recurring financial charges | 65 | €5,170 | €4,462 | -€708 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €9,802 | €4,704 | -€5,098 | -52.0% |
| Income taxes | 67/77 | - | €3,703 | +€3,703 | |
| Profit (loss) for the period | 9904 | €9,802 | €1,002 | -€8,801 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,802 | €1,002 | -€8,801 | -89.8% |
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 5 October 2026 via checked.be.