ADRIAN MARKET: what changed
ADRIAN MARKET
Largest movements
- Cash +€6,414
up €6,414 (+56.0%), from €11,459 to €17,873
mainly Net result for the year (+€12,933) and Stocks and contracts (+€3,312)
- Tangible fixed assets +€4,980
up €4,980 (+898%), from €554 to €5,534
- Stocks and contracts -€3,312
down €3,312 (-38.8%), from €8,532 to €5,220
- Intangible fixed assets -€1,800
down €1,800 (-11.2%), from €16,034 to €14,234
- Profit (loss) carried forward +€12,933
up €12,933 (+457%), from €2,827 to €15,760
- Other debts -€8,244
no longer reported in 2025 (was €8,244)
- Debts after one year -€3,005
down €3,005 (-32.5%), from €9,246 to €6,241
- Tax, wage and social debts +€2,988
up €2,988 (+124%), from €2,415 to €5,402
- Trade debts +€973
up €973 (+55.9%), from €1,741 to €2,714
of which Bills of exchange payable: +€2,369
- Gross operating margin +€14,324
up €14,324 (+171%), from €8,371 to €22,696
- Taxes +€2,537
up €2,537 (+223%), from €1,136 to €3,673
- Financial charges +€846
up €846 (+34.6%), from €2,442 to €3,289
- Depreciation +€797
up €797 (+40.3%), from €1,977 to €2,774
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,817 | €42,861 | +€6,044 | +16.4% |
| Fixed assets | 21/28 | €16,588 | €19,768 | +€3,180 | +19.2% |
| Intangible fixed assets | 21 | €16,034 | €14,234 | -€1,800 | -11.2% |
| Tangible fixed assets | 22/27 | €554 | €5,534 | +€4,980 | +898% |
| Plant, machinery and equipment | 23 | €554 | €5,534 | +€4,980 | +898% |
| Current assets | 29/58 | €20,229 | €23,093 | +€2,864 | +14.2% |
| Stocks and contracts in progress | 3 | €8,532 | €5,220 | -€3,312 | -38.8% |
| Stocks | 30/36 | €8,532 | €5,220 | -€3,312 | -38.8% |
| Amounts receivable within one year | 40/41 | €238 | - | -€238 | |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €238 | - | -€238 | |
| Cash at bank and in hand | 54/58 | €11,459 | €17,873 | +€6,414 | +56.0% |
| Total equity and liabilities | 10/49 | €36,817 | €42,861 | +€6,044 | +16.4% |
| Equity | 10/15 | €12,327 | €25,260 | +€12,933 | +105% |
| Contributions | 10/11 | €9,500 | €9,500 | = | 0.0% |
| Capital | 10 | €9,500 | - | -€9,500 | |
| Issued capital | 100 | €9,500 | - | -€9,500 | |
| Contributions outside capital | 11 | - | €9,500 | +€9,500 | |
| Other | 1109/19 | - | €9,500 | +€9,500 | |
| Profit (loss) carried forward | 14 | €2,827 | €15,760 | +€12,933 | +457% |
| Amounts payable | 17/49 | €24,489 | €17,600 | -€6,889 | -28.1% |
| Amounts payable after more than one year | 17 | €9,246 | €6,241 | -€3,005 | -32.5% |
| Financial debts | 170/4 | €9,246 | €6,241 | -€3,005 | -32.5% |
| Amounts payable within one year | 42/48 | €15,244 | €11,359 | -€3,884 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €2,844 | €3,243 | +€399 | +14.0% |
| Trade debts | 44 | €1,741 | €2,714 | +€973 | +55.9% |
| Suppliers | 440/4 | €1,741 | €345 | -€1,397 | -80.2% |
| Bills of exchange payable | 441 | - | €2,369 | +€2,369 | |
| Taxes, remuneration and social security | 45 | €2,415 | €5,402 | +€2,988 | +124% |
| Taxes | 450/3 | €2,415 | €5,402 | +€2,988 | +124% |
| Other amounts payable | 47/48 | €8,244 | - | -€8,244 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,977 | €2,774 | +€797 | +40.3% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €8,371 | €22,696 | +€14,324 | +171% |
| Operating profit (loss) | 9901 | €6,395 | €19,778 | +€13,383 | +209% |
| Financial income | 75/76B | €11 | €117 | +€106 | +959% |
| Recurring financial income | 75 | €11 | €117 | +€106 | +959% |
| Financial charges | 65/66B | €2,442 | €3,289 | +€846 | +34.6% |
| Recurring financial charges | 65 | €2,442 | €3,289 | +€846 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €3,963 | €16,606 | +€12,643 | +319% |
| Income taxes | 67/77 | €1,136 | €3,673 | +€2,537 | +223% |
| Profit (loss) for the period | 9904 | €2,827 | €12,933 | +€10,106 | +357% |
| Profit (loss) for the period to be appropriated | 9905 | €2,827 | €12,933 | +€10,106 | +357% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.