ADRIAANSEN: 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.
ADRIAANSEN
Largest movements
- Stocks and contracts +€341,790
up €341,790 (+28.0%), from €1.2m to €1.6m
- Receivables within one year -€300,367
down €300,367 (-18.4%), from €1.6m to €1.3m
of which Trade receivables: -€160,079
- Cash +€248,167
up €248,167 (+123.5%), from €200,944 to €449,111
mainly Debts after one year (+€750,000) and Net result for the year (+€434,762)
- Tangible fixed assets +€75,984
up €75,984 (+81.4%), from €93,290 to €169,274
of which Furniture and vehicles: +€72,941
- Debts after one year +€750,000
new in 2025: €750,000
- Other debts -€429,876
down €429,876 (-40.3%), from €1.1m to €637,524
- Trade debts +€128,020
up €128,020 (+19.2%), from €666,407 to €794,427
- Tax, wage and social debts -€53,455
down €53,455 (-27.7%), from €192,784 to €139,329
of which Taxes: -€68,063
- Gross operating margin -€349,192
down €349,192 (-21.7%), from €1.6m to €1.3m
- Taxes -€101,616
down €101,616 (-38.6%), from €263,390 to €161,774
- Staff costs +€95,948
up €95,948 (+19.3%), from €497,249 to €593,197
- Depreciation -€80,260
down €80,260 (-41.0%), from €195,912 to €115,652
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 | €3,560,623 | €3,964,391 | +€403,768 | +11.3% |
| Fixed assets | 21/28 | €477,325 | €585,878 | +€108,553 | +22.7% |
| Intangible fixed assets | 21 | €384,035 | €416,604 | +€32,570 | +8.5% |
| Tangible fixed assets | 22/27 | €93,290 | €169,274 | +€75,984 | +81.4% |
| Plant, machinery and equipment | 23 | €12,875 | €7,441 | -€5,434 | -42.2% |
| Furniture and vehicles | 24 | €20,640 | €93,581 | +€72,941 | +353.4% |
| Other tangible fixed assets | 26 | €59,776 | €68,252 | +€8,476 | +14.2% |
| Current assets | 29/58 | €3,083,298 | €3,378,513 | +€295,215 | +9.6% |
| Stocks and contracts in progress | 3 | €1,221,229 | €1,563,019 | +€341,790 | +28.0% |
| Stocks | 30/36 | €1,221,229 | €1,563,019 | +€341,790 | +28.0% |
| Amounts receivable within one year | 40/41 | €1,634,331 | €1,333,964 | -€300,367 | -18.4% |
| Trade receivables | 40 | €1,475,331 | €1,315,252 | -€160,079 | -10.9% |
| Other amounts receivable | 41 | €159,000 | €18,712 | -€140,288 | -88.2% |
| Cash at bank and in hand | 54/58 | €200,944 | €449,111 | +€248,167 | +123.5% |
| Deferred charges and accrued income | 490/1 | €26,794 | €32,418 | +€5,624 | +21.0% |
| Total equity and liabilities | 10/49 | €3,560,623 | €3,964,391 | +€403,768 | +11.3% |
| Equity | 10/15 | €1,634,027 | €1,638,789 | +€4,762 | +0.3% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €458,407 | €458,407 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,407 | €8,407 | = | 0.0% |
| Distributable reserves | 133 | €450,000 | €450,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,155,169 | €1,159,931 | +€4,762 | +0.4% |
| Amounts payable | 17/49 | €1,926,596 | €2,325,602 | +€399,006 | +20.7% |
| Amounts payable after more than one year | 17 | - | €750,000 | +€750,000 | |
| Financial debts | 170/4 | - | €750,000 | +€750,000 | |
| Amounts payable within one year | 42/48 | €1,926,591 | €1,571,280 | -€355,311 | -18.4% |
| Trade debts | 44 | €666,407 | €794,427 | +€128,020 | +19.2% |
| Suppliers | 440/4 | €666,407 | €794,427 | +€128,020 | +19.2% |
| Taxes, remuneration and social security | 45 | €192,784 | €139,329 | -€53,455 | -27.7% |
| Taxes | 450/3 | €143,097 | €75,034 | -€68,063 | -47.6% |
| Remuneration and social security | 454/9 | €49,687 | €64,295 | +€14,608 | +29.4% |
| Other amounts payable | 47/48 | €1,067,400 | €637,524 | -€429,876 | -40.3% |
| Accrued charges and deferred income | 492/3 | €5 | €4,322 | +€4,317 | +91656.7% |
| Remuneration, social security and pensions | 62 | €497,249 | €593,197 | +€95,948 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,912 | €115,652 | -€80,260 | -41.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,043 | -€1,941 | -€8,984 | |
| Other operating charges | 640/8 | €10,716 | €25,292 | +€14,576 | +136.0% |
| Gross operating margin | 9900 | €1,606,751 | €1,257,560 | -€349,192 | -21.7% |
| Operating profit (loss) | 9901 | €895,831 | €525,359 | -€370,472 | -41.4% |
| Financial income | 75/76B | €85,788 | €84,992 | -€796 | -0.9% |
| Recurring financial income | 75 | €85,788 | €84,992 | -€796 | -0.9% |
| Financial charges | 65/66B | €27,244 | €13,816 | -€13,428 | -49.3% |
| Recurring financial charges | 65 | €27,244 | €13,816 | -€13,428 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €954,376 | €596,536 | -€357,840 | -37.5% |
| Income taxes | 67/77 | €263,390 | €161,774 | -€101,616 | -38.6% |
| Profit (loss) for the period | 9904 | €690,986 | €434,762 | -€256,224 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €690,986 | €434,762 | -€256,224 | -37.1% |
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 10 October 2026 via checked.be.