ADSERE CONSULT: 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.
ADSERE CONSULT
Largest movements
- Cash +€279,955
up €279,955 (+251%), from €111,506 to €391,462
mainly Current investments (+€250,000) and Other debts (+€46,721)
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Receivables within one year +€34,353
up €34,353 (+31.8%), from €107,978 to €142,331
of which Other amounts receivable: +€18,724
- Other debts +€46,721
up €46,721 (+124%), from €37,722 to €84,443
- Reserves +€21,000
up €21,000 (+7.5%), from €279,000 to €300,000
- Accrued charges and deferred income -€6,875
down €6,875 (-54.3%), from €12,662 to €5,787
- Gross operating margin -€37,273
down €37,273 (-53.5%), from €69,675 to €32,402
- Financial income +€7,750
new in 2025: €7,750
- Taxes -€6,376
down €6,376 (-42.6%), from €14,977 to €8,601
- Depreciation -€5,014
down €5,014 (-60.1%), from €8,344 to €3,329
- Financial charges -€2,114
down €2,114 (-29.3%), from €7,210 to €5,096
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 | €472,995 | €533,980 | +€60,985 | +12.9% |
| Fixed assets | 21/28 | €3,329 | - | -€3,329 | |
| Intangible fixed assets | 21 | €2,933 | - | -€2,933 | |
| Tangible fixed assets | 22/27 | €396 | - | -€396 | |
| Furniture and vehicles | 24 | €396 | - | -€396 | |
| Current assets | 29/58 | €469,666 | €533,980 | +€64,314 | +13.7% |
| Amounts receivable within one year | 40/41 | €107,978 | €142,331 | +€34,353 | +31.8% |
| Trade receivables | 40 | €97,955 | €113,585 | +€15,630 | +16.0% |
| Other amounts receivable | 41 | €10,023 | €28,746 | +€18,724 | +187% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €111,506 | €391,462 | +€279,955 | +251% |
| Deferred charges and accrued income | 490/1 | €181 | €187 | +€5 | +3.0% |
| Total equity and liabilities | 10/49 | €472,995 | €533,980 | +€60,985 | +12.9% |
| Equity | 10/15 | €405,489 | €427,796 | +€22,306 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €279,000 | €300,000 | +€21,000 | +7.5% |
| Distributable reserves | 133 | €279,000 | €300,000 | +€21,000 | +7.5% |
| Profit (loss) carried forward | 14 | €107,889 | €109,196 | +€1,306 | +1.2% |
| Amounts payable | 17/49 | €67,506 | €106,184 | +€38,678 | +57.3% |
| Amounts payable within one year | 42/48 | €54,844 | €100,397 | +€45,553 | +83.1% |
| Trade debts | 44 | €12,061 | €10,564 | -€1,497 | -12.4% |
| Suppliers | 440/4 | €12,061 | €10,564 | -€1,497 | -12.4% |
| Taxes, remuneration and social security | 45 | €5,061 | €5,390 | +€330 | +6.5% |
| Taxes | 450/3 | €5,061 | €5,390 | +€330 | +6.5% |
| Other amounts payable | 47/48 | €37,722 | €84,443 | +€46,721 | +124% |
| Accrued charges and deferred income | 492/3 | €12,662 | €5,787 | -€6,875 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,344 | €3,329 | -€5,014 | -60.1% |
| Other operating charges | 640/8 | €387 | €819 | +€431 | +111% |
| Gross operating margin | 9900 | €69,675 | €32,402 | -€37,273 | -53.5% |
| Operating profit (loss) | 9901 | €60,944 | €28,254 | -€32,690 | -53.6% |
| Financial income | 75/76B | - | €7,750 | +€7,750 | |
| Recurring financial income | 75 | - | €7,750 | +€7,750 | |
| Financial charges | 65/66B | €7,210 | €5,096 | -€2,114 | -29.3% |
| Recurring financial charges | 65 | €7,210 | €5,096 | -€2,114 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €53,734 | €30,908 | -€22,826 | -42.5% |
| Income taxes | 67/77 | €14,977 | €8,601 | -€6,376 | -42.6% |
| Profit (loss) for the period | 9904 | €38,757 | €22,306 | -€16,450 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,757 | €22,306 | -€16,450 | -42.4% |
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 17 October 2026 via checked.be.