ADRINA: 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.
ADRINA
Largest movements
- Receivables within one year +€627,021
up €627,021 (+259.6%), from €241,571 to €868,593
of which Trade receivables: +€558,801
- Cash -€37,183
down €37,183 (-57.5%), from €64,651 to €27,468
mainly Receivables within one year (-€627,021) and Investment in fixed assets (net) (-€8,211)
- Trade debts +€421,470
up €421,470 (+165.9%), from €254,041 to €675,512
- Accrued charges and deferred income +€134,129
new in 2025: €134,129
- Profit (loss) carried forward +€30,664
up €30,664 (+52.1%), from €58,841 to €89,505
- Tax, wage and social debts +€19,069
up €19,069 (+95.5%), from €19,968 to €39,037
- Gross operating margin +€27,793
up €27,793 (+34.9%), from €79,717 to €107,511
- Financial charges +€16,243
up €16,243 (+172.8%), from €9,397 to €25,640
- Financial income +€3,319
up €3,319 (+217.2%), from €1,529 to €4,848
- Other operating charges +€2,278
new in 2025: €2,278
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 | €472,300 | €1,070,413 | +€598,113 | +126.6% |
| Fixed assets | 21/28 | - | €7,367 | +€7,367 | |
| Tangible fixed assets | 22/27 | - | €7,367 | +€7,367 | |
| Plant, machinery and equipment | 23 | - | €5,268 | +€5,268 | |
| Furniture and vehicles | 24 | - | €2,099 | +€2,099 | |
| Current assets | 29/58 | €472,300 | €1,063,047 | +€590,747 | +125.1% |
| Stocks and contracts in progress | 3 | €164,416 | €164,416 | = | 0.0% |
| Stocks | 30/36 | €164,416 | €164,416 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €241,571 | €868,593 | +€627,021 | +259.6% |
| Trade receivables | 40 | €162,689 | €721,490 | +€558,801 | +343.5% |
| Other amounts receivable | 41 | €78,882 | €147,103 | +€68,221 | +86.5% |
| Cash at bank and in hand | 54/58 | €64,651 | €27,468 | -€37,183 | -57.5% |
| Deferred charges and accrued income | 490/1 | €1,662 | €2,570 | +€908 | +54.7% |
| Total equity and liabilities | 10/49 | €472,300 | €1,070,413 | +€598,113 | +126.6% |
| Equity | 10/15 | €66,901 | €97,565 | +€30,664 | +45.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,841 | €89,505 | +€30,664 | +52.1% |
| Amounts payable | 17/49 | €405,399 | €972,848 | +€567,449 | +140.0% |
| Amounts payable after more than one year | 17 | €124,170 | €116,616 | -€7,554 | -6.1% |
| Financial debts | 170/4 | €124,170 | €116,616 | -€7,554 | -6.1% |
| Amounts payable within one year | 42/48 | €281,229 | €722,103 | +€440,874 | +156.8% |
| Current portion of amounts payable after more than one year | 42 | €7,220 | €7,554 | +€335 | +4.6% |
| Trade debts | 44 | €254,041 | €675,512 | +€421,470 | +165.9% |
| Suppliers | 440/4 | €254,041 | €675,512 | +€421,470 | +165.9% |
| Taxes, remuneration and social security | 45 | €19,968 | €39,037 | +€19,069 | +95.5% |
| Taxes | 450/3 | €19,968 | €39,037 | +€19,069 | +95.5% |
| Accrued charges and deferred income | 492/3 | - | €134,129 | +€134,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €844 | +€844 | |
| Other operating charges | 640/8 | - | €2,278 | +€2,278 | |
| Non-recurring operating charges | 66A | - | €33,863 | +€33,863 | |
| Gross operating margin | 9900 | €79,717 | €107,511 | +€27,793 | +34.9% |
| Operating profit (loss) | 9901 | €79,717 | €70,526 | -€9,192 | -11.5% |
| Financial income | 75/76B | €1,529 | €4,848 | +€3,319 | +217.2% |
| Recurring financial income | 75 | €1,529 | €4,848 | +€3,319 | +217.2% |
| Financial charges | 65/66B | €9,397 | €25,640 | +€16,243 | +172.8% |
| Recurring financial charges | 65 | €9,397 | €25,640 | +€16,243 | +172.8% |
| Profit (loss) for the period before taxes | 9903 | €71,849 | €49,734 | -€22,115 | -30.8% |
| Income taxes | 67/77 | €19,968 | €19,069 | -€899 | -4.5% |
| Profit (loss) for the period | 9904 | €51,881 | €30,664 | -€21,216 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,881 | €30,664 | -€21,216 | -40.9% |
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 6 October 2026 via checked.be.