ADU Finance: 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.
ADU Finance
Largest movements
- Tangible fixed assets -€23,531
down €23,531 (-25.0%), from €94,304 to €70,773
- Cash +€19,289
up €19,289 (+18.6%), from €103,628 to €122,917
mainly Depreciation (+€23,531) and Receivables within one year (+€2,183)
- Reserves -€9,822
down €9,822 (-4.1%), from €240,913 to €231,091
of which Tax-exempt reserves: -€28,913
- Taxes +€1,909
up €1,909, from €0 to €1,909
- Other operating charges +€785
up €785 (+37.7%), from €2,085 to €2,870
- Gross operating margin +€557
up €557 (+3.2%), from €17,265 to €17,822
- Financial income -€397
down €397 (-18.7%), from €2,122 to €1,724
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 | €232,269 | €225,913 | -€6,356 | -2.7% |
| Fixed assets | 21/28 | €94,304 | €70,773 | -€23,531 | -25.0% |
| Tangible fixed assets | 22/27 | €94,304 | €70,773 | -€23,531 | -25.0% |
| Land and buildings | 22 | €94,304 | €70,773 | -€23,531 | -25.0% |
| Current assets | 29/58 | €137,965 | €155,140 | +€17,175 | +12.4% |
| Amounts receivable within one year | 40/41 | €32,909 | €30,727 | -€2,183 | -6.6% |
| Other amounts receivable | 41 | €32,909 | €30,727 | -€2,183 | -6.6% |
| Cash at bank and in hand | 54/58 | €103,628 | €122,917 | +€19,289 | +18.6% |
| Deferred charges and accrued income | 490/1 | €1,428 | €1,496 | +€68 | +4.8% |
| Total equity and liabilities | 10/49 | €232,269 | €225,913 | -€6,356 | -2.7% |
| Equity | 10/15 | €231,911 | €223,087 | -€8,824 | -3.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €240,913 | €231,091 | -€9,822 | -4.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,913 | €0 | -€28,913 | -100% |
| Distributable reserves | 133 | €210,000 | €229,091 | +€19,091 | +9.1% |
| Profit (loss) carried forward | 14 | -€29,003 | -€28,004 | +€998 | +3.4% |
| Amounts payable | 17/49 | €358 | €2,826 | +€2,468 | +690% |
| Amounts payable within one year | 42/48 | €358 | €2,826 | +€2,468 | +690% |
| Trade debts | 44 | €358 | €917 | +€559 | +156% |
| Suppliers | 440/4 | €358 | €917 | +€559 | +156% |
| Taxes, remuneration and social security | 45 | - | €1,909 | +€1,909 | |
| Taxes | 450/3 | - | €1,909 | +€1,909 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,531 | €23,531 | = | 0.0% |
| Other operating charges | 640/8 | €2,085 | €2,870 | +€785 | +37.7% |
| Gross operating margin | 9900 | €17,265 | €17,822 | +€557 | +3.2% |
| Operating profit (loss) | 9901 | -€8,351 | -€8,579 | -€228 | -2.7% |
| Financial income | 75/76B | €2,122 | €1,724 | -€397 | -18.7% |
| Recurring financial income | 75 | €2,122 | €1,724 | -€397 | -18.7% |
| Financial charges | 65/66B | €146 | €60 | -€86 | -58.8% |
| Recurring financial charges | 65 | €146 | €60 | -€86 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,375 | -€6,915 | -€540 | -8.5% |
| Income taxes | 67/77 | €0 | €1,909 | +€1,909 | |
| Profit (loss) for the period | 9904 | -€6,375 | -€8,824 | -€2,449 | -38.4% |
| Transfer from tax-exempt reserves | 789 | - | €28,913 | +€28,913 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,375 | €20,089 | +€26,464 |
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 1 November 2026 via checked.be.