ADUFIN: 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.
What changed
ADUFIN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€194,738
2024 · -€228,125+€33,388
Equity
€5.6m
2024 · €5.8m-€194,738
Cash
€50,650
2024 · €14,140+€36,510
Balance sheet total
€6.1m
2024 · €6.3m-€152,090
Largest movements
Assets
- Current investments -€452,613
down €452,613 (-28.9%), from €1.6m to €1.1m
- Tangible fixed assets +€261,961
up €261,961 (+5.6%), from €4.7m to €5.0m
of which Other tangible fixed assets: +€138,651
Equity and liabilities
- Profit (loss) carried forward -€194,738
down €194,738 (-13.5%), from -€1.4m to -€1.6m
- Short-term financial debts +€150,000
up €150,000 (+42.9%), from €350,000 to €500,000
- Debts after one year -€100,000
down €100,000 (-99.2%), from €100,801 to €801
Income statement
- Purchases and services -€147,051
down €147,051 (-100%), from €147,051 to €0
- Turnover -€72,204
down €72,204 (-100%), from €72,204 to €0
- Financial income +€45,830
up €45,830 (+42.2%), from €108,577 to €154,407
- Staff costs -€29,501
down €29,501 (-28.9%), from €102,127 to €72,626
- Other operating charges +€22,956
up €22,956 (+49.6%), from €46,288 to €69,244
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.
Result 2024
-€228,125
Gross operating margin
-€8,439
Staff costs
+€29,501
Depreciation
-€21,346
Other operating charges
-€22,956
Financial income
+€45,830
Financial charges
+€10,817
Taxes
-€20
Result 2025
-€194,738
raises the resultlowers the result
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.
From operations
-€76,147
Investment
+€62,657
Financing
+€50,000
Cash 2024
€14,140
From operations (derived)
-€76,147
Net result for the year
-€194,738
Depreciation
+€127,995
Smaller working-capital items
-€247
Deferred charges and accrued income
-€2,779
Trade debts
-€11,211
Tax, wage and social debts
+€4,833
Investment (derived)
+€62,657
Investment in fixed assets (net)
-€389,956
Current investments
+€452,613
Financing
+€50,000
Debts after one year
-€100,000
Short-term financial debts
+€150,000
Cash 2025
€50,650
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,294,039 | €6,141,949 | -€152,090 | -2.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €4,689,089 | €4,951,050 | +€261,961 | +5.6% |
| Tangible fixed assets | 22/27 | €4,688,971 | €4,950,932 | +€261,961 | +5.6% |
| Land and buildings | 22 | €4,232,591 | €4,236,516 | +€3,925 | +0.1% |
| Plant, machinery and equipment | 23 | €341,330 | €460,715 | +€119,385 | +35.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €115,049 | €253,700 | +€138,651 | +121% |
| Financial fixed assets | 28 | €118 | €118 | = | 0.0% |
| Current assets | 29/58 | €1,604,950 | €1,190,899 | -€414,051 | -25.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €19,325 | €18,598 | -€726 | -3.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €19,325 | €18,598 | -€726 | -3.8% |
| Current investments | 50/53 | €1,564,939 | €1,112,326 | -€452,613 | -28.9% |
| Cash at bank and in hand | 54/58 | €14,140 | €50,650 | +€36,510 | +258% |
| Deferred charges and accrued income | 490/1 | €6,546 | €9,325 | +€2,779 | +42.4% |
| Total equity and liabilities | 10/49 | €6,294,039 | €6,141,949 | -€152,090 | -2.4% |
| Equity | 10/15 | €5,757,567 | €5,562,830 | -€194,738 | -3.4% |
| Contributions | 10/11 | €7,200,000 | €7,200,000 | = | 0.0% |
| Capital | 10 | €7,200,000 | €7,200,000 | = | 0.0% |
| Issued capital | 100 | €7,200,000 | €7,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,442,433 | -€1,637,170 | -€194,738 | -13.5% |
| Amounts payable | 17/49 | €536,471 | €579,119 | +€42,648 | +7.9% |
| Amounts payable after more than one year | 17 | €100,801 | €801 | -€100,000 | -99.2% |
| Other amounts payable | 178/9 | €100,801 | €801 | -€100,000 | -99.2% |
| Amounts payable within one year | 42/48 | €435,670 | €578,319 | +€142,648 | +32.7% |
| Financial debts | 43 | €350,000 | €500,000 | +€150,000 | +42.9% |
| Credit institutions | 430/8 | €350,000 | €500,000 | +€150,000 | +42.9% |
| Trade debts | 44 | €47,932 | €36,721 | -€11,211 | -23.4% |
| Suppliers | 440/4 | €47,932 | €36,721 | -€11,211 | -23.4% |
| Taxes, remuneration and social security | 45 | €21,375 | €26,208 | +€4,833 | +22.6% |
| Taxes | 450/3 | €2,102 | €14,250 | +€12,148 | +578% |
| Remuneration and social security | 454/9 | €19,273 | €11,958 | -€7,316 | -38.0% |
| Other amounts payable | 47/48 | €16,363 | €15,390 | -€973 | -5.9% |
| Turnover | 70 | €72,204 | €0 | -€72,204 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €147,051 | €0 | -€147,051 | -100% |
| Remuneration, social security and pensions | 62 | €102,127 | €72,626 | -€29,501 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,650 | €127,995 | +€21,346 | +20.0% |
| Other operating charges | 640/8 | €46,288 | €69,244 | +€22,956 | +49.6% |
| Gross operating margin | 9900 | -€56,354 | -€64,792 | -€8,439 | -15.0% |
| Operating profit (loss) | 9901 | -€311,418 | -€334,657 | -€23,240 | -7.5% |
| Financial income | 75/76B | €108,577 | €154,407 | +€45,830 | +42.2% |
| Recurring financial income | 75 | €108,577 | €154,407 | +€45,830 | +42.2% |
| Financial charges | 65/66B | €24,846 | €14,028 | -€10,817 | -43.5% |
| Recurring financial charges | 65 | €24,846 | €14,028 | -€10,817 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | -€227,686 | -€194,279 | +€33,407 | +14.7% |
| Income taxes | 67/77 | €439 | €459 | +€20 | +4.5% |
| Profit (loss) for the period | 9904 | -€228,125 | -€194,738 | +€33,388 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€228,125 | -€194,738 | +€33,388 | +14.6% |
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.