ADUPA: 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.
ADUPA
Largest movements
- Receivables after one year +€53,989
up €53,989 (+40.6%), from €132,950 to €186,939
- Cash +€7,415
up €7,415 (+326%), from €2,271 to €9,686
mainly Net result for the year (+€58,892) and Deferred charges and accrued income (+€5,779)
- Deferred charges and accrued income -€5,779
down €5,779 (-79.8%), from €7,238 to €1,459
- Reserves +€56,959
up €56,959 (+114%), from €50,065 to €107,024
of which Distributable reserves: +€53,882
- Trade debts -€7,217
down €7,217 (-82.1%), from €8,792 to €1,574
- Tax, wage and social debts +€4,778
up €4,778 (+17.0%), from €28,025 to €32,803
- Gross operating margin +€20,510
up €20,510 (+32.8%), from €62,467 to €82,977
- Taxes +€6,760
up €6,760 (+37.6%), from €17,992 to €24,752
- Financial income +€2,039
up €2,039 (+105%), from €1,950 to €3,989
- Other operating charges +€1,387
up €1,387 (+138%), from €1,004 to €2,391
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 | €146,949 | €203,628 | +€56,679 | +38.6% |
| Fixed assets | 21/28 | €146 | €574 | +€429 | +294% |
| Tangible fixed assets | 22/27 | €146 | €574 | +€429 | +294% |
| Plant, machinery and equipment | 23 | - | €495 | +€495 | |
| Furniture and vehicles | 24 | €146 | €80 | -€66 | -45.3% |
| Current assets | 29/58 | €146,803 | €203,054 | +€56,251 | +38.3% |
| Amounts receivable after more than one year | 29 | €132,950 | €186,939 | +€53,989 | +40.6% |
| Other amounts receivable | 291 | €132,950 | €186,939 | +€53,989 | +40.6% |
| Amounts receivable within one year | 40/41 | €4,344 | €4,970 | +€626 | +14.4% |
| Trade receivables | 40 | €3,883 | €4,476 | +€593 | +15.3% |
| Other amounts receivable | 41 | €461 | €494 | +€33 | +7.2% |
| Cash at bank and in hand | 54/58 | €2,271 | €9,686 | +€7,415 | +326% |
| Deferred charges and accrued income | 490/1 | €7,238 | €1,459 | -€5,779 | -79.8% |
| Total equity and liabilities | 10/49 | €146,949 | €203,628 | +€56,679 | +38.6% |
| Equity | 10/15 | €110,132 | €169,024 | +€58,892 | +53.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €50,065 | €107,024 | +€56,959 | +114% |
| Non-distributable reserves | 130/1 | €3,123 | €6,200 | +€3,077 | +98.5% |
| Legal reserve | 130 | €3,123 | €6,200 | +€3,077 | +98.5% |
| Distributable reserves | 133 | €46,941 | €100,824 | +€53,882 | +115% |
| Profit (loss) carried forward | 14 | -€1,933 | - | +€1,933 | |
| Amounts payable | 17/49 | €36,817 | €34,605 | -€2,212 | -6.0% |
| Amounts payable within one year | 42/48 | €36,817 | €34,605 | -€2,212 | -6.0% |
| Trade debts | 44 | €8,792 | €1,574 | -€7,217 | -82.1% |
| Suppliers | 440/4 | €8,792 | €1,574 | -€7,217 | -82.1% |
| Taxes, remuneration and social security | 45 | €28,025 | €32,803 | +€4,778 | +17.0% |
| Taxes | 450/3 | €28,025 | €32,803 | +€4,778 | +17.0% |
| Other amounts payable | 47/48 | - | €227 | +€227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €92 | -€351 | -79.2% |
| Other operating charges | 640/8 | €1,004 | €2,391 | +€1,387 | +138% |
| Gross operating margin | 9900 | €62,467 | €82,977 | +€20,510 | +32.8% |
| Operating profit (loss) | 9901 | €61,019 | €80,493 | +€19,474 | +31.9% |
| Financial income | 75/76B | €1,950 | €3,989 | +€2,039 | +105% |
| Recurring financial income | 75 | €1,950 | €3,989 | +€2,039 | +105% |
| Financial charges | 65/66B | €765 | €839 | +€74 | +9.7% |
| Recurring financial charges | 65 | €765 | €839 | +€74 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €62,205 | €83,643 | +€21,439 | +34.5% |
| Income taxes | 67/77 | €17,992 | €24,752 | +€6,760 | +37.6% |
| Profit (loss) for the period | 9904 | €44,213 | €58,892 | +€14,679 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,213 | €58,892 | +€14,679 | +33.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.