ADROVAS: 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.
ADROVAS
Largest movements
- Cash +€23,906
up €23,906 (+16.0%), from €149,801 to €173,708
mainly Net result for the year (+€22,097) and Depreciation (+€19,171)
- Receivables within one year -€12,051
down €12,051 (-34.3%), from €35,170 to €23,120
of which Other amounts receivable: -€10,617
- Tangible fixed assets -€11,026
down €11,026 (-4.9%), from €223,875 to €212,849
of which Furniture and vehicles: -€11,535
- Reserves +€21,000
up €21,000 (+14.5%), from €144,500 to €165,500
- Debts after one year -€12,269
down €12,269 (-6.5%), from €190,030 to €177,761
- Tax, wage and social debts -€9,031
down €9,031 (-46.2%), from €19,547 to €10,516
- Current portion of long-term debt -€6,670
down €6,670 (-35.2%), from €18,939 to €12,269
- Gross operating margin -€20,053
down €20,053 (-25.5%), from €78,599 to €58,546
- Other operating charges -€17,376
down €17,376 (-85.8%), from €20,255 to €2,878
- Financial charges +€5,041
up €5,041 (+278.1%), from €1,812 to €6,853
- Taxes -€3,038
down €3,038 (-25.9%), from €11,747 to €8,710
- Depreciation +€1,785
up €1,785 (+10.3%), from €17,386 to €19,171
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 | €411,316 | €411,955 | +€639 | +0.2% |
| Fixed assets | 21/28 | €226,125 | €215,099 | -€11,026 | -4.9% |
| Tangible fixed assets | 22/27 | €223,875 | €212,849 | -€11,026 | -4.9% |
| Land and buildings | 22 | €192,791 | €192,885 | +€94 | 0.0% |
| Plant, machinery and equipment | 23 | €465 | €881 | +€415 | +89.3% |
| Furniture and vehicles | 24 | €30,618 | €19,083 | -€11,535 | -37.7% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €185,191 | €196,857 | +€11,665 | +6.3% |
| Amounts receivable within one year | 40/41 | €35,170 | €23,120 | -€12,051 | -34.3% |
| Trade receivables | 40 | €15,814 | €14,381 | -€1,433 | -9.1% |
| Other amounts receivable | 41 | €19,356 | €8,739 | -€10,617 | -54.9% |
| Cash at bank and in hand | 54/58 | €149,801 | €173,708 | +€23,906 | +16.0% |
| Deferred charges and accrued income | 490/1 | €220 | €29 | -€191 | -86.7% |
| Total equity and liabilities | 10/49 | €411,316 | €411,955 | +€639 | +0.2% |
| Equity | 10/15 | €155,088 | €177,185 | +€22,097 | +14.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €144,500 | €165,500 | +€21,000 | +14.5% |
| Distributable reserves | 133 | €144,500 | €165,500 | +€21,000 | +14.5% |
| Profit (loss) carried forward | 14 | €9,588 | €10,685 | +€1,097 | +11.4% |
| Amounts payable | 17/49 | €256,229 | €234,770 | -€21,458 | -8.4% |
| Amounts payable after more than one year | 17 | €190,030 | €177,761 | -€12,269 | -6.5% |
| Financial debts | 170/4 | €190,030 | €177,761 | -€12,269 | -6.5% |
| Amounts payable within one year | 42/48 | €66,198 | €57,010 | -€9,189 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €18,939 | €12,269 | -€6,670 | -35.2% |
| Trade debts | 44 | - | €3,729 | +€3,729 | |
| Suppliers | 440/4 | - | €3,729 | +€3,729 | |
| Taxes, remuneration and social security | 45 | €19,547 | €10,516 | -€9,031 | -46.2% |
| Taxes | 450/3 | €19,547 | €10,516 | -€9,031 | -46.2% |
| Other amounts payable | 47/48 | €27,713 | €30,496 | +€2,783 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,386 | €19,171 | +€1,785 | +10.3% |
| Other operating charges | 640/8 | €20,255 | €2,878 | -€17,376 | -85.8% |
| Gross operating margin | 9900 | €78,599 | €58,546 | -€20,053 | -25.5% |
| Operating profit (loss) | 9901 | €40,958 | €36,497 | -€4,461 | -10.9% |
| Financial income | 75/76B | €1,097 | €1,163 | +€66 | +6.0% |
| Recurring financial income | 75 | €1,097 | €1,163 | +€66 | +6.0% |
| Financial charges | 65/66B | €1,812 | €6,853 | +€5,041 | +278.1% |
| Recurring financial charges | 65 | €1,812 | €6,853 | +€5,041 | +278.1% |
| Profit (loss) for the period before taxes | 9903 | €40,243 | €30,807 | -€9,436 | -23.4% |
| Income taxes | 67/77 | €11,747 | €8,710 | -€3,038 | -25.9% |
| Profit (loss) for the period | 9904 | €28,495 | €22,097 | -€6,398 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,495 | €22,097 | -€6,398 | -22.5% |
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 9 October 2026 via checked.be.