ADSA: 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.
ADSA
Largest movements
- Current investments +€356,000
new in 2025: €356,000
- Cash -€341,153
down €341,153 (-94.5%), from €361,135 to €19,982
mainly Current investments (-€356,000) and Receivables within one year (-€12,083)
- Receivables within one year +€12,083
up €12,083 (+128.9%), from €9,375 to €21,457
of which Trade receivables: +€9,973
- Reserves +€34,000
up €34,000 (+13.7%), from €248,660 to €282,660
of which Distributable reserves: +€35,860
- Other debts -€4,658
down €4,658 (-5.1%), from €90,994 to €86,336
- Tax, wage and social debts -€4,342
down €4,342 (-19.7%), from €21,988 to €17,646
- Financial income -€1,777
down €1,777 (-50.6%), from €3,516 to €1,738
- Taxes -€722
down €722 (-3.8%), from €18,890 to €18,168
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 | €370,649 | €398,524 | +€27,875 | +7.5% |
| Current assets | 29/58 | €370,649 | €398,524 | +€27,875 | +7.5% |
| Amounts receivable within one year | 40/41 | €9,375 | €21,457 | +€12,083 | +128.9% |
| Trade receivables | 40 | €9,375 | €19,347 | +€9,973 | +106.4% |
| Other amounts receivable | 41 | - | €2,110 | +€2,110 | |
| Current investments | 50/53 | - | €356,000 | +€356,000 | |
| Cash at bank and in hand | 54/58 | €361,135 | €19,982 | -€341,153 | -94.5% |
| Deferred charges and accrued income | 490/1 | €139 | €1,084 | +€945 | +679.3% |
| Total equity and liabilities | 10/49 | €370,649 | €398,524 | +€27,875 | +7.5% |
| Equity | 10/15 | €256,286 | €290,639 | +€34,353 | +13.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €248,660 | €282,660 | +€34,000 | +13.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €246,800 | €282,660 | +€35,860 | +14.5% |
| Profit (loss) carried forward | 14 | €1,426 | €1,779 | +€353 | +24.8% |
| Amounts payable | 17/49 | €114,363 | €107,885 | -€6,478 | -5.7% |
| Amounts payable within one year | 42/48 | €114,363 | €107,885 | -€6,478 | -5.7% |
| Trade debts | 44 | €1,381 | €3,903 | +€2,521 | +182.5% |
| Suppliers | 440/4 | €1,381 | €3,903 | +€2,521 | +182.5% |
| Taxes, remuneration and social security | 45 | €21,988 | €17,646 | -€4,342 | -19.7% |
| Taxes | 450/3 | €21,988 | €17,646 | -€4,342 | -19.7% |
| Other amounts payable | 47/48 | €90,994 | €86,336 | -€4,658 | -5.1% |
| Non-recurring operating income | 76A | €1,267 | - | -€1,267 | |
| Other operating charges | 640/8 | €1,087 | €752 | -€335 | -30.8% |
| Non-recurring operating charges | 66A | - | €323 | +€323 | |
| Gross operating margin | 9900 | €53,098 | €52,701 | -€397 | -0.7% |
| Operating profit (loss) | 9901 | €52,011 | €51,626 | -€385 | -0.7% |
| Financial income | 75/76B | €3,516 | €1,738 | -€1,777 | -50.6% |
| Recurring financial income | 75 | €3,516 | €1,738 | -€1,777 | -50.6% |
| Financial charges | 65/66B | €437 | €844 | +€407 | +93.3% |
| Recurring financial charges | 65 | €437 | €844 | +€407 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €55,091 | €52,521 | -€2,570 | -4.7% |
| Income taxes | 67/77 | €18,890 | €18,168 | -€722 | -3.8% |
| Profit (loss) for the period | 9904 | €36,201 | €34,353 | -€1,848 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,201 | €34,353 | -€1,848 | -5.1% |
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 2 October 2026 via checked.be.