ADRICO: 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.
ADRICO
Largest movements
- Tangible fixed assets +€196,257
up €196,257 (+401%), from €48,947 to €245,204
- Current investments -€150,000
down €150,000 (-60.0%), from €250,000 to €100,000
- Deferred charges and accrued income -€58,430
down €58,430 (-45.0%), from €129,757 to €71,327
- Cash +€24,853
up €24,853 (+48.6%), from €51,176 to €76,029
mainly Debts after one year (+€178,750) and Current investments (+€150,000)
- Financial fixed assets +€19,445
up €19,445 (+18,633%), from €104 to €19,549
- Debts after one year +€178,750
new in 2025: €178,750
- Trade debts -€85,300
down €85,300 (-75.7%), from €112,704 to €27,404
- Profit (loss) carried forward -€70,655
down €70,655 (-171%), from -€41,316 to -€111,972
- Current portion of long-term debt +€19,155
up €19,155 (+126%), from €15,222 to €34,378
- Other debts +€10,181
up €10,181 (+33.8%), from €30,117 to €40,298
- Staff costs +€22,078
up €22,078 (+3.1%), from €717,675 to €739,753
- Gross operating margin +€11,289
up €11,289 (+1.6%), from €700,840 to €712,129
- Depreciation -€9,331
down €9,331 (-26.4%), from €35,347 to €26,016
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 | €525,459 | €567,747 | +€42,288 | +8.0% |
| Fixed assets | 21/28 | €49,051 | €264,753 | +€215,702 | +440% |
| Tangible fixed assets | 22/27 | €48,947 | €245,204 | +€196,257 | +401% |
| Plant, machinery and equipment | 23 | €48,947 | €245,204 | +€196,257 | +401% |
| Financial fixed assets | 28 | €104 | €19,549 | +€19,445 | +18,633% |
| Current assets | 29/58 | €476,408 | €302,994 | -€173,414 | -36.4% |
| Stocks and contracts in progress | 3 | €13,314 | €14,673 | +€1,359 | +10.2% |
| Stocks | 30/36 | €13,314 | €14,673 | +€1,359 | +10.2% |
| Amounts receivable within one year | 40/41 | €32,162 | €40,965 | +€8,803 | +27.4% |
| Trade receivables | 40 | €32,162 | €28,329 | -€3,833 | -11.9% |
| Other amounts receivable | 41 | €0 | €12,636 | +€12,636 | |
| Current investments | 50/53 | €250,000 | €100,000 | -€150,000 | -60.0% |
| Cash at bank and in hand | 54/58 | €51,176 | €76,029 | +€24,853 | +48.6% |
| Deferred charges and accrued income | 490/1 | €129,757 | €71,327 | -€58,430 | -45.0% |
| Total equity and liabilities | 10/49 | €525,459 | €567,747 | +€42,288 | +8.0% |
| Equity | 10/15 | €321,644 | €250,988 | -€70,655 | -22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,360 | €344,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €342,500 | €342,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,316 | -€111,972 | -€70,655 | -171% |
| Amounts payable | 17/49 | €203,815 | €316,759 | +€112,943 | +55.4% |
| Amounts payable after more than one year | 17 | - | €178,750 | +€178,750 | |
| Financial debts | 170/4 | - | €178,750 | +€178,750 | |
| Amounts payable within one year | 42/48 | €203,815 | €138,009 | -€65,807 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €15,222 | €34,378 | +€19,155 | +126% |
| Trade debts | 44 | €112,704 | €27,404 | -€85,300 | -75.7% |
| Suppliers | 440/4 | €112,704 | €27,404 | -€85,300 | -75.7% |
| Taxes, remuneration and social security | 45 | €45,772 | €35,929 | -€9,843 | -21.5% |
| Taxes | 450/3 | €7,614 | €644 | -€6,969 | -91.5% |
| Remuneration and social security | 454/9 | €38,158 | €35,285 | -€2,874 | -7.5% |
| Other amounts payable | 47/48 | €30,117 | €40,298 | +€10,181 | +33.8% |
| Non-recurring operating income | 76A | €19,067 | €5,708 | -€13,359 | -70.1% |
| Remuneration, social security and pensions | 62 | €717,675 | €739,753 | +€22,078 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,347 | €26,016 | -€9,331 | -26.4% |
| Other operating charges | 640/8 | €767 | €7,708 | +€6,941 | +905% |
| Gross operating margin | 9900 | €700,840 | €712,129 | +€11,289 | +1.6% |
| Operating profit (loss) | 9901 | -€52,949 | -€61,349 | -€8,399 | -15.9% |
| Financial income | 75/76B | €99 | €84 | -€15 | -15.5% |
| Recurring financial income | 75 | €99 | €84 | -€15 | -15.5% |
| Financial charges | 65/66B | €2,307 | €9,138 | +€6,831 | +296% |
| Recurring financial charges | 65 | €2,307 | €9,138 | +€6,831 | +296% |
| Profit (loss) for the period before taxes | 9903 | -€55,157 | -€70,403 | -€15,246 | -27.6% |
| Income taxes | 67/77 | -€829 | €253 | +€1,081 | |
| Profit (loss) for the period | 9904 | -€54,328 | -€70,655 | -€16,327 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,328 | -€70,655 | -€16,327 | -30.1% |
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 16 October 2026 via checked.be.