ADT PROJECT: 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.
ADT PROJECT
Largest movements
- Stocks and contracts +€3.8m
up €3.8m (+61.1%), from €6.3m to €10.1m
- Debts after one year +€3.6m
up €3.6m (+58.6%), from €6.1m to €9.6m
of which Financial debts: +€3.6m
- Accrued charges and deferred income +€283,476
up €283,476 (+164.0%), from €172,852 to €456,328
- Purchases and services +€3.2m
new in 2025: €3.2m
- Other operating charges +€31,608
up €31,608 (+2869.9%), from €1,101 to €32,710
- Gross operating margin +€20,441
up €20,441, from -€2,425 to €18,016
- Financial charges +€570
up €570 (+102.4%), from €557 to €1,127
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,346,490 | €10,251,591 | +€3.9m | +61.5% |
| Current assets | 29/58 | €6,346,490 | €10,251,591 | +€3.9m | +61.5% |
| Stocks and contracts in progress | 3 | €6,285,221 | €10,127,943 | +€3.8m | +61.1% |
| Stocks | 30/36 | €6,285,221 | €10,127,943 | +€3.8m | +61.1% |
| Amounts receivable within one year | 40/41 | €32,738 | €52,683 | +€19,944 | +60.9% |
| Trade receivables | 40 | €32,738 | €48,028 | +€15,290 | +46.7% |
| Other amounts receivable | 41 | - | €4,654 | +€4,654 | |
| Cash at bank and in hand | 54/58 | €24,741 | €11,731 | -€13,010 | -52.6% |
| Deferred charges and accrued income | 490/1 | €3,789 | €59,234 | +€55,445 | +1463.2% |
| Total equity and liabilities | 10/49 | €6,346,490 | €10,251,591 | +€3.9m | +61.5% |
| Equity | 10/15 | €47,580 | €31,831 | -€15,748 | -33.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,920 | -€29,669 | -€15,748 | -113.1% |
| Amounts payable | 17/49 | €6,298,910 | €10,219,760 | +€3.9m | +62.2% |
| Amounts payable after more than one year | 17 | €6,077,170 | €9,638,170 | +€3.6m | +58.6% |
| Financial debts | 170/4 | €6,053,000 | €9,614,000 | +€3.6m | +58.8% |
| Other amounts payable | 178/9 | €24,170 | €24,170 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,888 | €125,261 | +€76,373 | +156.2% |
| Trade debts | 44 | €40,200 | €119,582 | +€79,382 | +197.5% |
| Suppliers | 440/4 | €40,200 | €119,582 | +€79,382 | +197.5% |
| Advances received on contracts in progress | 46 | €8,688 | €1,025 | -€7,663 | -88.2% |
| Other amounts payable | 47/48 | - | €4,654 | +€4,654 | |
| Accrued charges and deferred income | 492/3 | €172,852 | €456,328 | +€283,476 | +164.0% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,242,631 | +€3.2m | |
| Other operating charges | 640/8 | €1,101 | €32,710 | +€31,608 | +2869.9% |
| Gross operating margin | 9900 | -€2,425 | €18,016 | +€20,441 | |
| Operating profit (loss) | 9901 | -€3,526 | -€14,694 | -€11,168 | -316.7% |
| Financial income | 75/76B | €0 | €73 | +€73 | |
| Recurring financial income | 75 | €0 | €73 | +€73 | |
| Financial charges | 65/66B | €557 | €1,127 | +€570 | +102.4% |
| Recurring financial charges | 65 | €557 | €1,127 | +€570 | +102.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,083 | -€15,748 | -€11,665 | -285.7% |
| Profit (loss) for the period | 9904 | -€4,083 | -€15,748 | -€11,665 | -285.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,083 | -€15,748 | -€11,665 | -285.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.