ADVENTURER: 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.
ADVENTURER
Largest movements
- Cash -€33,978
down €33,978 (-25.2%), from €134,734 to €100,756
mainly Net result for the year (-€23,605) and Investment in fixed assets (net) (-€8,602)
- Tangible fixed assets +€5,269
up €5,269 (+79.0%), from €6,673 to €11,942
of which Plant, machinery and equipment: +€7,608
- Receivables within one year -€3,184
down €3,184 (-38.6%), from €8,251 to €5,067
- Profit (loss) carried forward -€23,605
down €23,605 (-25.2%), from €93,735 to €70,130
- Tax, wage and social debts -€4,078
down €4,078 (-52.5%), from €7,762 to €3,684
of which Remuneration and social security: -€3,500
- Other debts -€3,699
down €3,699 (-52.0%), from €7,110 to €3,412
- Contributions +€1,855
up €1,855 (+10.0%), from €18,550 to €20,405
- Reserves -€1,855
down €1,855 (-8.5%), from €21,855 to €20,000
of which Non-distributable reserves: -€1,855
- Gross operating margin +€8,965
up €8,965 (+31.6%), from -€28,336 to -€19,371
- Depreciation +€586
up €586 (+21.3%), from €2,747 to €3,333
- Financial charges -€464
down €464 (-69.7%), from €666 to €202
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 | €151,061 | €118,634 | -€32,427 | -21.5% |
| Fixed assets | 21/28 | €6,673 | €11,942 | +€5,269 | +79.0% |
| Tangible fixed assets | 22/27 | €6,673 | €11,942 | +€5,269 | +79.0% |
| Plant, machinery and equipment | 23 | €1,421 | €9,029 | +€7,608 | +535% |
| Furniture and vehicles | 24 | €4,281 | €2,068 | -€2,212 | -51.7% |
| Other tangible fixed assets | 26 | €971 | €845 | -€127 | -13.0% |
| Current assets | 29/58 | €144,388 | €106,692 | -€37,696 | -26.1% |
| Amounts receivable within one year | 40/41 | €8,251 | €5,067 | -€3,184 | -38.6% |
| Trade receivables | 40 | €8,251 | €5,067 | -€3,184 | -38.6% |
| Cash at bank and in hand | 54/58 | €134,734 | €100,756 | -€33,978 | -25.2% |
| Deferred charges and accrued income | 490/1 | €1,403 | €869 | -€534 | -38.1% |
| Total equity and liabilities | 10/49 | €151,061 | €118,634 | -€32,427 | -21.5% |
| Equity | 10/15 | €134,140 | €110,535 | -€23,605 | -17.6% |
| Contributions | 10/11 | €18,550 | €20,405 | +€1,855 | +10.0% |
| Reserves | 13 | €21,855 | €20,000 | -€1,855 | -8.5% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,735 | €70,130 | -€23,605 | -25.2% |
| Amounts payable | 17/49 | €16,921 | €8,099 | -€8,823 | -52.1% |
| Amounts payable within one year | 42/48 | €16,921 | €8,099 | -€8,823 | -52.1% |
| Trade debts | 44 | €2,048 | €1,002 | -€1,046 | -51.1% |
| Suppliers | 440/4 | €2,048 | €1,002 | -€1,046 | -51.1% |
| Taxes, remuneration and social security | 45 | €7,762 | €3,684 | -€4,078 | -52.5% |
| Taxes | 450/3 | €762 | €184 | -€578 | -75.8% |
| Remuneration and social security | 454/9 | €7,000 | €3,500 | -€3,500 | -50.0% |
| Other amounts payable | 47/48 | €7,110 | €3,412 | -€3,699 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,747 | €3,333 | +€586 | +21.3% |
| Other operating charges | 640/8 | €586 | €699 | +€113 | +19.3% |
| Gross operating margin | 9900 | -€28,336 | -€19,371 | +€8,965 | +31.6% |
| Operating profit (loss) | 9901 | -€31,669 | -€23,403 | +€8,266 | +26.1% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €666 | €202 | -€464 | -69.7% |
| Recurring financial charges | 65 | €666 | €202 | -€464 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | -€32,330 | -€23,605 | +€8,725 | +27.0% |
| Profit (loss) for the period | 9904 | -€32,330 | -€23,605 | +€8,725 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,330 | -€23,605 | +€8,725 | +27.0% |
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 26 October 2026 via checked.be.