ADRIAN GROUP: 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.
ADRIAN GROUP
Largest movements
- Receivables within one year +€28,139
up €28,139 (+283.1%), from €9,940 to €38,079
of which Trade receivables: +€28,229
- Cash -€7,771
down €7,771 (-35.3%), from €21,996 to €14,224
mainly Receivables within one year (-€28,139) and Investment in fixed assets (net) (-€1,222)
- Tangible fixed assets +€1,175
new in 2025: €1,175
- Trade debts +€11,134
up €11,134 (+969.5%), from €1,148 to €12,282
- Profit (loss) carried forward +€6,812
up €6,812 (+26.2%), from €25,988 to €32,800
- Tax, wage and social debts +€3,505
new in 2025: €3,505
- Taxes +€5,583
new in 2025: €5,583
- Other operating charges +€3,842
up €3,842 (+230.8%), from €1,665 to €5,507
- Gross operating margin +€2,576
up €2,576 (+16.0%), from €16,062 to €18,639
- Financial charges -€563
down €563 (-45.0%), from €1,253 to €690
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 | €32,136 | €53,679 | +€21,543 | +67.0% |
| Fixed assets | 21/28 | €200 | €1,375 | +€1,175 | +587.7% |
| Tangible fixed assets | 22/27 | - | €1,175 | +€1,175 | |
| Furniture and vehicles | 24 | - | €1,175 | +€1,175 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €31,936 | €52,304 | +€20,367 | +63.8% |
| Amounts receivable within one year | 40/41 | €9,940 | €38,079 | +€28,139 | +283.1% |
| Trade receivables | 40 | €8,223 | €36,452 | +€28,229 | +343.3% |
| Other amounts receivable | 41 | €1,717 | €1,627 | -€90 | -5.2% |
| Cash at bank and in hand | 54/58 | €21,996 | €14,224 | -€7,771 | -35.3% |
| Total equity and liabilities | 10/49 | €32,136 | €53,679 | +€21,543 | +67.0% |
| Equity | 10/15 | €30,988 | €37,800 | +€6,812 | +22.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,988 | €32,800 | +€6,812 | +26.2% |
| Amounts payable | 17/49 | €1,148 | €15,879 | +€14,731 | +1282.7% |
| Amounts payable within one year | 42/48 | €1,148 | €15,879 | +€14,731 | +1282.7% |
| Trade debts | 44 | €1,148 | €12,282 | +€11,134 | +969.5% |
| Suppliers | 440/4 | €1,148 | €12,282 | +€11,134 | +969.5% |
| Taxes, remuneration and social security | 45 | - | €3,505 | +€3,505 | |
| Taxes | 450/3 | - | €3,505 | +€3,505 | |
| Other amounts payable | 47/48 | - | €92 | +€92 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €47 | +€47 | |
| Other operating charges | 640/8 | €1,665 | €5,507 | +€3,842 | +230.8% |
| Gross operating margin | 9900 | €16,062 | €18,639 | +€2,576 | +16.0% |
| Operating profit (loss) | 9901 | €14,398 | €13,085 | -€1,313 | -9.1% |
| Financial charges | 65/66B | €1,253 | €690 | -€563 | -45.0% |
| Recurring financial charges | 65 | €1,253 | €690 | -€563 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €13,145 | €12,395 | -€750 | -5.7% |
| Income taxes | 67/77 | - | €5,583 | +€5,583 | |
| Profit (loss) for the period | 9904 | €13,145 | €6,812 | -€6,332 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,145 | €6,812 | -€6,332 | -48.2% |
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 7 October 2026 via checked.be.