Adriaenssen Projects: 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.
Adriaenssen Projects
Largest movements
- Receivables within one year -€56,460
down €56,460 (-66.1%), from €85,435 to €28,975
of which Trade receivables: -€36,917
- Cash +€40,105
up €40,105 (+63.9%), from €62,779 to €102,885
mainly Net result for the year (+€95,879) and Receivables within one year (+€56,460)
- Deferred charges and accrued income +€4,851
new in 2025: €4,851
- Tangible fixed assets -€1,719
down €1,719 (-8.5%), from €20,158 to €18,438
of which Other tangible fixed assets: -€1,752
- Reserves -€23,234
down €23,234 (-65.5%), from €35,460 to €12,226
- Short-term financial debts -€20,000
no longer reported in 2025 (was €20,000)
- Other debts +€17,353
up €17,353 (+20.3%), from €85,275 to €102,628
- Tax, wage and social debts +€12,822
up €12,822 (+260%), from €4,931 to €17,753
of which Taxes: +€13,822
- Gross operating margin +€78,525
up €78,525 (+122%), from €64,510 to €143,035
- Taxes +€20,282
up €20,282 (+140%), from €14,457 to €34,739
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 | €168,412 | €155,189 | -€13,223 | -7.9% |
| Fixed assets | 21/28 | €20,198 | €18,478 | -€1,719 | -8.5% |
| Tangible fixed assets | 22/27 | €20,158 | €18,438 | -€1,719 | -8.5% |
| Plant, machinery and equipment | 23 | €2,346 | €1,496 | -€850 | -36.2% |
| Furniture and vehicles | 24 | €7,269 | €8,152 | +€883 | +12.1% |
| Other tangible fixed assets | 26 | €10,543 | €8,791 | -€1,752 | -16.6% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €148,214 | €136,710 | -€11,504 | -7.8% |
| Amounts receivable within one year | 40/41 | €85,435 | €28,975 | -€56,460 | -66.1% |
| Trade receivables | 40 | €65,892 | €28,975 | -€36,917 | -56.0% |
| Other amounts receivable | 41 | €19,543 | - | -€19,543 | |
| Cash at bank and in hand | 54/58 | €62,779 | €102,885 | +€40,105 | +63.9% |
| Deferred charges and accrued income | 490/1 | - | €4,851 | +€4,851 | |
| Total equity and liabilities | 10/49 | €168,412 | €155,189 | -€13,223 | -7.9% |
| Equity | 10/15 | €54,060 | €30,826 | -€23,234 | -43.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,460 | €12,226 | -€23,234 | -65.5% |
| Distributable reserves | 133 | €35,460 | €12,226 | -€23,234 | -65.5% |
| Amounts payable | 17/49 | €114,352 | €124,363 | +€10,011 | +8.8% |
| Amounts payable within one year | 42/48 | €114,352 | €124,213 | +€9,861 | +8.6% |
| Financial debts | 43 | €20,000 | - | -€20,000 | |
| Credit institutions | 430/8 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €4,146 | €3,832 | -€314 | -7.6% |
| Suppliers | 440/4 | €4,146 | €3,832 | -€314 | -7.6% |
| Taxes, remuneration and social security | 45 | €4,931 | €17,753 | +€12,822 | +260% |
| Taxes | 450/3 | €2,152 | €15,974 | +€13,822 | +642% |
| Remuneration and social security | 454/9 | €2,779 | €1,779 | -€1,000 | -36.0% |
| Other amounts payable | 47/48 | €85,275 | €102,628 | +€17,353 | +20.3% |
| Accrued charges and deferred income | 492/3 | - | €150 | +€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,565 | €5,428 | -€137 | -2.5% |
| Other operating charges | 640/8 | €777 | €1,234 | +€456 | +58.7% |
| Gross operating margin | 9900 | €64,510 | €143,035 | +€78,525 | +122% |
| Operating profit (loss) | 9901 | €58,168 | €136,373 | +€78,205 | +134% |
| Financial income | 75/76B | €4 | €252 | +€248 | +6,127% |
| Recurring financial income | 75 | €4 | €252 | +€248 | +6,127% |
| Financial charges | 65/66B | €6,536 | €6,005 | -€531 | -8.1% |
| Recurring financial charges | 65 | €6,536 | €6,005 | -€531 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €51,636 | €130,619 | +€78,983 | +153% |
| Income taxes | 67/77 | €14,457 | €34,739 | +€20,282 | +140% |
| Profit (loss) for the period | 9904 | €37,179 | €95,879 | +€58,701 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €37,179 | €95,879 | +€58,701 | +158% |
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 21 October 2026 via checked.be.