ADSUM: 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.
ADSUM
Largest movements
- Receivables within one year +€55,750
up €55,750 (+53.9%), from €103,513 to €159,263
of which Trade receivables: +€48,532
- Tangible fixed assets -€26,850
down €26,850 (-4.1%), from €662,707 to €635,857
of which Land and buildings: -€25,896
- Other debts +€45,581
up €45,581 (+187%), from €24,406 to €69,987
- Debts after one year -€33,000
down €33,000 (-14.2%), from €231,833 to €198,833
- Tax, wage and social debts +€15,995
up €15,995 (+174%), from €9,195 to €25,190
of which Taxes: +€16,854
- Reserves -€15,569
down €15,569 (-3.3%), from €469,054 to €453,484
of which Distributable reserves: -€15,569
- Gross operating margin -€35,290
down €35,290 (-22.7%), from €155,237 to €119,946
- Depreciation -€18,613
down €18,613 (-37.3%), from €49,882 to €31,269
- Taxes -€1,893
down €1,893 (-7.5%), from €25,131 to €23,238
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 | €860,067 | €880,046 | +€19,979 | +2.3% |
| Fixed assets | 21/28 | €662,782 | €635,932 | -€26,850 | -4.1% |
| Tangible fixed assets | 22/27 | €662,707 | €635,857 | -€26,850 | -4.1% |
| Land and buildings | 22 | €654,963 | €629,067 | -€25,896 | -4.0% |
| Furniture and vehicles | 24 | €7,744 | €6,790 | -€954 | -12.3% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €197,285 | €244,114 | +€46,830 | +23.7% |
| Amounts receivable within one year | 40/41 | €103,513 | €159,263 | +€55,750 | +53.9% |
| Trade receivables | 40 | €88,833 | €137,365 | +€48,532 | +54.6% |
| Other amounts receivable | 41 | €14,680 | €21,898 | +€7,218 | +49.2% |
| Cash at bank and in hand | 54/58 | €75,684 | €70,668 | -€5,016 | -6.6% |
| Deferred charges and accrued income | 490/1 | €18,088 | €14,183 | -€3,905 | -21.6% |
| Total equity and liabilities | 10/49 | €860,067 | €880,046 | +€19,979 | +2.3% |
| Equity | 10/15 | €487,654 | €472,084 | -€15,569 | -3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €469,054 | €453,484 | -€15,569 | -3.3% |
| Tax-exempt reserves | 132 | €37,166 | €37,166 | = | 0.0% |
| Distributable reserves | 133 | €431,888 | €416,318 | -€15,569 | -3.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €372,413 | €407,962 | +€35,549 | +9.5% |
| Amounts payable after more than one year | 17 | €231,833 | €198,833 | -€33,000 | -14.2% |
| Financial debts | 170/4 | €231,833 | €198,833 | -€33,000 | -14.2% |
| Amounts payable within one year | 42/48 | €139,930 | €205,039 | +€65,109 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €33,000 | €33,000 | -€0 | 0.0% |
| Financial debts | 43 | €2,543 | €0 | -€2,543 | -100% |
| Credit institutions | 430/8 | €2,543 | €0 | -€2,543 | -100% |
| Trade debts | 44 | €70,786 | €76,862 | +€6,076 | +8.6% |
| Suppliers | 440/4 | €70,786 | €76,862 | +€6,076 | +8.6% |
| Taxes, remuneration and social security | 45 | €9,195 | €25,190 | +€15,995 | +174% |
| Taxes | 450/3 | €8,336 | €25,190 | +€16,854 | +202% |
| Remuneration and social security | 454/9 | €859 | €0 | -€859 | -100% |
| Other amounts payable | 47/48 | €24,406 | €69,987 | +€45,581 | +187% |
| Accrued charges and deferred income | 492/3 | €650 | €4,090 | +€3,440 | +529% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,882 | €31,269 | -€18,613 | -37.3% |
| Other operating charges | 640/8 | €4,225 | €4,362 | +€137 | +3.2% |
| Gross operating margin | 9900 | €155,237 | €119,946 | -€35,290 | -22.7% |
| Operating profit (loss) | 9901 | €101,130 | €84,315 | -€16,815 | -16.6% |
| Financial income | 75/76B | €10 | €158 | +€149 | +1,554% |
| Recurring financial income | 75 | €10 | €158 | +€149 | +1,554% |
| Financial charges | 65/66B | €17,929 | €16,805 | -€1,124 | -6.3% |
| Recurring financial charges | 65 | €17,929 | €16,805 | -€1,124 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €83,211 | €67,668 | -€15,542 | -18.7% |
| Income taxes | 67/77 | €25,131 | €23,238 | -€1,893 | -7.5% |
| Profit (loss) for the period | 9904 | €58,080 | €44,431 | -€13,649 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,080 | €44,431 | -€13,649 | -23.5% |
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 17 October 2026 via checked.be.