ADU: 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.
ADU
Largest movements
- Tangible fixed assets +€44,518
up €44,518 (+47.7%), from €93,391 to €137,909
of which Furniture and vehicles: +€30,658
- Cash +€28,601
up €28,601 (+593.9%), from €4,816 to €33,417
mainly Other debts (+€91,414) and Depreciation (+€23,243)
- Receivables within one year +€12,335
up €12,335 (+27.3%), from €45,144 to €57,479
of which Trade receivables: +€14,738
- Stocks and contracts +€2,812
new in 2025: €2,812
- Other debts +€91,414
up €91,414 (+167.3%), from €54,649 to €146,064
- Current portion of long-term debt -€20,518
no longer reported in 2025 (was €20,518)
- Reserves +€7,644
up €7,644 (+12.3%), from €62,189 to €69,832
- Short-term financial debts +€4,384
new in 2025: €4,384
- Tax, wage and social debts +€4,133
up €4,133 (+339.3%), from €1,218 to €5,351
- Gross operating margin +€24,029
up €24,029 (+151.6%), from €15,852 to €39,881
- Depreciation +€7,254
up €7,254 (+45.4%), from €15,989 to €23,243
- Financial charges +€7,075
up €7,075 (+1842.7%), from €384 to €7,459
of which Non-recurring financial charges: +€7,246
- Financial income -€4,710
down €4,710 (-89.2%), from €5,278 to €568
of which Non-recurring financial income: -€5,000
- Taxes +€542
up €542 (+166.5%), from €326 to €868
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 | €143,800 | €233,453 | +€89,654 | +62.3% |
| Fixed assets | 21/28 | €93,391 | €137,909 | +€44,518 | +47.7% |
| Tangible fixed assets | 22/27 | €93,391 | €137,909 | +€44,518 | +47.7% |
| Plant, machinery and equipment | 23 | €89,096 | €102,956 | +€13,860 | +15.6% |
| Furniture and vehicles | 24 | €4,295 | €34,953 | +€30,658 | +713.8% |
| Current assets | 29/58 | €50,408 | €95,544 | +€45,136 | +89.5% |
| Stocks and contracts in progress | 3 | - | €2,812 | +€2,812 | |
| Stocks | 30/36 | - | €2,812 | +€2,812 | |
| Amounts receivable within one year | 40/41 | €45,144 | €57,479 | +€12,335 | +27.3% |
| Trade receivables | 40 | €40,560 | €55,298 | +€14,738 | +36.3% |
| Other amounts receivable | 41 | €4,584 | €2,181 | -€2,403 | -52.4% |
| Cash at bank and in hand | 54/58 | €4,816 | €33,417 | +€28,601 | +593.9% |
| Deferred charges and accrued income | 490/1 | €448 | €1,837 | +€1,389 | +309.8% |
| Total equity and liabilities | 10/49 | €143,800 | €233,453 | +€89,654 | +62.3% |
| Equity | 10/15 | €62,544 | €70,187 | +€7,644 | +12.2% |
| Contributions | 10/11 | €18,518 | €18,518 | = | 0.0% |
| Reserves | 13 | €62,189 | €69,832 | +€7,644 | +12.3% |
| Distributable reserves | 133 | €62,189 | €69,832 | +€7,644 | +12.3% |
| Profit (loss) carried forward | 14 | -€18,163 | -€18,163 | = | 0.0% |
| Amounts payable | 17/49 | €81,256 | €163,266 | +€82,010 | +100.9% |
| Amounts payable within one year | 42/48 | €81,256 | €163,266 | +€82,010 | +100.9% |
| Current portion of amounts payable after more than one year | 42 | €20,518 | - | -€20,518 | |
| Financial debts | 43 | - | €4,384 | +€4,384 | |
| Credit institutions | 430/8 | - | €4,384 | +€4,384 | |
| Trade debts | 44 | €4,871 | €7,468 | +€2,597 | +53.3% |
| Suppliers | 440/4 | €4,871 | €7,468 | +€2,597 | +53.3% |
| Taxes, remuneration and social security | 45 | €1,218 | €5,351 | +€4,133 | +339.3% |
| Taxes | 450/3 | €1,218 | €5,351 | +€4,133 | +339.3% |
| Other amounts payable | 47/48 | €54,649 | €146,064 | +€91,414 | +167.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,989 | €23,243 | +€7,254 | +45.4% |
| Other operating charges | 640/8 | €375 | €403 | +€28 | +7.4% |
| Gross operating margin | 9900 | €15,852 | €39,881 | +€24,029 | +151.6% |
| Operating profit (loss) | 9901 | -€511 | €16,236 | +€16,747 | |
| Financial income | 75/76B | €5,278 | €568 | -€4,710 | -89.2% |
| Recurring financial income | 75 | €278 | €568 | +€290 | +104.6% |
| Non-recurring financial income | 76B | €5,000 | - | -€5,000 | |
| Financial charges | 65/66B | €384 | €7,459 | +€7,075 | +1842.7% |
| Recurring financial charges | 65 | €384 | €213 | -€171 | -44.4% |
| Non-recurring financial charges | 66B | - | €7,246 | +€7,246 | |
| Profit (loss) for the period before taxes | 9903 | €4,382 | €9,344 | +€4,962 | +113.2% |
| Income taxes | 67/77 | €326 | €868 | +€542 | +166.5% |
| Profit (loss) for the period | 9904 | €4,056 | €8,477 | +€4,420 | +109.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,056 | €8,477 | +€4,420 | +109.0% |
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 5 October 2026 via checked.be.