ADRIAENSEN: 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.
ADRIAENSEN
Largest movements
- Tangible fixed assets -€61,971
down €61,971 (-33.2%), from €186,512 to €124,540
of which Furniture and vehicles: -€61,629
- Cash -€33,880
down €33,880 (-6.5%), from €519,504 to €485,624
mainly Trade debts (-€174,548) and Debts after one year (-€23,800)
- Trade debts -€174,548
down €174,548 (-36.2%), from €481,739 to €307,191
- Reserves +€98,083
up €98,083 (+12.6%), from €779,350 to €877,433
- Debts after one year -€23,800
down €23,800 (-75.0%), from €31,733 to €7,934
- Gross operating margin -€43,922
down €43,922 (-16.9%), from €260,436 to €216,514
- Taxes -€14,982
down €14,982 (-26.9%), from €55,726 to €40,744
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 | €1,434,705 | €1,343,833 | -€90,872 | -6.3% |
| Fixed assets | 21/28 | €186,552 | €124,580 | -€61,971 | -33.2% |
| Tangible fixed assets | 22/27 | €186,512 | €124,540 | -€61,971 | -33.2% |
| Furniture and vehicles | 24 | €185,828 | €124,198 | -€61,629 | -33.2% |
| Other tangible fixed assets | 26 | €684 | €342 | -€342 | -50.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €1,248,154 | €1,219,253 | -€28,901 | -2.3% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 291 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €723,650 | €728,629 | +€4,979 | +0.7% |
| Trade receivables | 40 | €723,650 | €728,629 | +€4,979 | +0.7% |
| Cash at bank and in hand | 54/58 | €519,504 | €485,624 | -€33,880 | -6.5% |
| Total equity and liabilities | 10/49 | €1,434,705 | €1,343,833 | -€90,872 | -6.3% |
| Equity | 10/15 | €879,350 | €977,433 | +€98,083 | +11.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €779,350 | €877,433 | +€98,083 | +12.6% |
| Distributable reserves | 133 | €779,350 | €877,433 | +€98,083 | +12.6% |
| Amounts payable | 17/49 | €555,355 | €366,401 | -€188,955 | -34.0% |
| Amounts payable after more than one year | 17 | €31,733 | €7,934 | -€23,800 | -75.0% |
| Financial debts | 170/4 | €31,733 | €7,934 | -€23,800 | -75.0% |
| Amounts payable within one year | 42/48 | €523,122 | €356,967 | -€166,155 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €23,800 | €23,800 | = | 0.0% |
| Trade debts | 44 | €481,739 | €307,191 | -€174,548 | -36.2% |
| Suppliers | 440/4 | €481,739 | €307,191 | -€174,548 | -36.2% |
| Taxes, remuneration and social security | 45 | €15,174 | €22,925 | +€7,751 | +51.1% |
| Taxes | 450/3 | €12,574 | €15,125 | +€2,551 | +20.3% |
| Remuneration and social security | 454/9 | €2,600 | €7,800 | +€5,200 | +200% |
| Other amounts payable | 47/48 | €2,409 | €3,051 | +€642 | +26.7% |
| Accrued charges and deferred income | 492/3 | €500 | €1,500 | +€1,000 | +200% |
| Non-recurring operating income | 76A | €22,500 | €0 | -€22,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,328 | €61,971 | +€1,643 | +2.7% |
| Other operating charges | 640/8 | €17,390 | €15,128 | -€2,262 | -13.0% |
| Gross operating margin | 9900 | €260,436 | €216,514 | -€43,922 | -16.9% |
| Operating profit (loss) | 9901 | €182,718 | €139,414 | -€43,304 | -23.7% |
| Financial income | 75/76B | €150 | €76 | -€75 | -49.6% |
| Recurring financial income | 75 | €150 | €76 | -€75 | -49.6% |
| Financial charges | 65/66B | €971 | €664 | -€307 | -31.6% |
| Recurring financial charges | 65 | €971 | €664 | -€307 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €181,898 | €138,826 | -€43,071 | -23.7% |
| Income taxes | 67/77 | €55,726 | €40,744 | -€14,982 | -26.9% |
| Profit (loss) for the period | 9904 | €126,172 | €98,083 | -€28,089 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €126,172 | €98,083 | -€28,089 | -22.3% |
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 16 October 2026 via checked.be.