ADU PROJECT: 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 PROJECT
Largest movements
- Cash +€26,365
up €26,365 (+724%), from €3,641 to €30,006
mainly Net result for the year (+€31,075) and Tax, wage and social debts (+€12,523)
- Tangible fixed assets +€16,457
up €16,457 (+1,271%), from €1,295 to €17,752
- Receivables within one year +€6,582
up €6,582 (+58.9%), from €11,182 to €17,764
of which Trade receivables: +€6,842
- Formation expenses -€2,383
down €2,383 (-100%), from €2,383 to €0
- Deferred charges and accrued income +€1,416
new in 2025: €1,416
- Profit (loss) carried forward +€31,075
up €31,075 (+450%), from €6,913 to €37,987
- Tax, wage and social debts +€12,523
up €12,523 (+136%), from €9,220 to €21,743
of which Taxes: +€12,673
- Trade debts +€4,838
up €4,838 (+354%), from €1,368 to €6,207
- Gross operating margin +€34,877
up €34,877 (+377%), from €9,259 to €44,137
- Taxes +€7,378
up €7,378 (+406%), from €1,817 to €9,196
- Depreciation +€3,296
up €3,296 (+627%), from €526 to €3,822
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 | €18,501 | €66,938 | +€48,436 | +262% |
| Formation expenses | 20 | €2,383 | €0 | -€2,383 | -100% |
| Fixed assets | 21/28 | €1,295 | €17,752 | +€16,457 | +1,271% |
| Tangible fixed assets | 22/27 | €1,295 | €17,752 | +€16,457 | +1,271% |
| Furniture and vehicles | 24 | €1,295 | €17,752 | +€16,457 | +1,271% |
| Current assets | 29/58 | €14,823 | €49,186 | +€34,363 | +232% |
| Amounts receivable within one year | 40/41 | €11,182 | €17,764 | +€6,582 | +58.9% |
| Trade receivables | 40 | €10,826 | €17,668 | +€6,842 | +63.2% |
| Other amounts receivable | 41 | €356 | €96 | -€260 | -73.0% |
| Cash at bank and in hand | 54/58 | €3,641 | €30,006 | +€26,365 | +724% |
| Deferred charges and accrued income | 490/1 | - | €1,416 | +€1,416 | |
| Total equity and liabilities | 10/49 | €18,501 | €66,938 | +€48,436 | +262% |
| Equity | 10/15 | €7,913 | €38,987 | +€31,075 | +393% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,913 | €37,987 | +€31,075 | +450% |
| Amounts payable | 17/49 | €10,588 | €27,950 | +€17,362 | +164% |
| Amounts payable within one year | 42/48 | €10,588 | €27,950 | +€17,362 | +164% |
| Trade debts | 44 | €1,368 | €6,207 | +€4,838 | +354% |
| Suppliers | 440/4 | €1,368 | €6,207 | +€4,838 | +354% |
| Taxes, remuneration and social security | 45 | €9,220 | €21,743 | +€12,523 | +136% |
| Taxes | 450/3 | €6,441 | €19,114 | +€12,673 | +197% |
| Remuneration and social security | 454/9 | €2,779 | €2,629 | -€149 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526 | €3,822 | +€3,296 | +627% |
| Gross operating margin | 9900 | €9,259 | €44,137 | +€34,877 | +377% |
| Operating profit (loss) | 9901 | €8,734 | €40,315 | +€31,581 | +362% |
| Financial charges | 65/66B | €4 | €45 | +€41 | +1,023% |
| Recurring financial charges | 65 | €4 | €45 | +€41 | +1,023% |
| Profit (loss) for the period before taxes | 9903 | €8,730 | €40,270 | +€31,540 | +361% |
| Income taxes | 67/77 | €1,817 | €9,196 | +€7,378 | +406% |
| Profit (loss) for the period | 9904 | €6,913 | €31,075 | +€24,162 | +350% |
| Profit (loss) for the period to be appropriated | 9905 | €6,913 | €31,075 | +€24,162 | +350% |
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 13 October 2026 via checked.be.