Adverno: 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.
Adverno
Largest movements
- Receivables within one year +€119,625
up €119,625 (+494%), from €24,204 to €143,829
of which Other amounts receivable: +€119,518
- Financial fixed assets +€54,824
up €54,824 (+15.9%), from €345,218 to €400,043
- Cash -€26,359
down €26,359 (-60.0%), from €43,968 to €17,609
mainly Receivables within one year (-€119,625) and Investment in fixed assets (net) (-€54,832)
- Reserves +€137,990
up €137,990 (+74.1%), from €186,301 to €324,291
of which Distributable reserves: +€137,990
- Tax, wage and social debts +€59,277
up €59,277 (+209%), from €28,424 to €87,701
of which Taxes: +€59,170
- Debts after one year -€34,843
down €34,843 (-10.6%), from €329,901 to €295,058
- Other debts -€19,597
down €19,597 (-20.8%), from €94,421 to €74,824
- Trade debts +€15,436
up €15,436 (+293%), from €5,274 to €20,710
- Gross operating margin +€85,433
up €85,433 (+62.0%), from €137,906 to €223,338
- Taxes +€33,476
up €33,476 (+92.0%), from €36,376 to €69,852
- Staff costs -€10,209
down €10,209 (-100%), from €10,209 to €0
- Financial income +€5,644
up €5,644 (+188,131%), from €3 to €5,647
- Depreciation -€4,465
down €4,465 (-79.9%), from €5,589 to €1,123
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 | €712,014 | €864,262 | +€152,248 | +21.4% |
| Fixed assets | 21/28 | €641,217 | €694,925 | +€53,709 | +8.4% |
| Tangible fixed assets | 22/27 | €295,998 | €294,883 | -€1,115 | -0.4% |
| Land and buildings | 22 | €289,100 | €289,100 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,601 | €1,185 | -€416 | -26.0% |
| Furniture and vehicles | 24 | €4,480 | €313 | -€4,168 | -93.0% |
| Other tangible fixed assets | 26 | €817 | €4,285 | +€3,468 | +424% |
| Financial fixed assets | 28 | €345,218 | €400,043 | +€54,824 | +15.9% |
| Current assets | 29/58 | €70,798 | €169,337 | +€98,539 | +139% |
| Amounts receivable within one year | 40/41 | €24,204 | €143,829 | +€119,625 | +494% |
| Trade receivables | 40 | €24,200 | €24,306 | +€106 | +0.4% |
| Other amounts receivable | 41 | €4 | €119,522 | +€119,518 | +3,002,976% |
| Cash at bank and in hand | 54/58 | €43,968 | €17,609 | -€26,359 | -60.0% |
| Deferred charges and accrued income | 490/1 | €2,625 | €7,899 | +€5,274 | +201% |
| Total equity and liabilities | 10/49 | €712,014 | €864,262 | +€152,248 | +21.4% |
| Equity | 10/15 | €204,901 | €342,891 | +€137,990 | +67.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €186,301 | €324,291 | +€137,990 | +74.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €186,301 | €324,291 | +€137,990 | +74.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €507,114 | €521,371 | +€14,257 | +2.8% |
| Amounts payable after more than one year | 17 | €329,901 | €295,058 | -€34,843 | -10.6% |
| Financial debts | 170/4 | €329,901 | €295,058 | -€34,843 | -10.6% |
| Amounts payable within one year | 42/48 | €175,904 | €226,313 | +€50,408 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €40,988 | €34,843 | -€6,145 | -15.0% |
| Financial debts | 43 | €6,798 | €8,235 | +€1,437 | +21.1% |
| Credit institutions | 430/8 | €6,798 | €8,235 | +€1,437 | +21.1% |
| Trade debts | 44 | €5,274 | €20,710 | +€15,436 | +293% |
| Suppliers | 440/4 | €5,274 | €20,710 | +€15,436 | +293% |
| Taxes, remuneration and social security | 45 | €28,424 | €87,701 | +€59,277 | +209% |
| Taxes | 450/3 | €28,424 | €87,595 | +€59,170 | +208% |
| Remuneration and social security | 454/9 | €0 | €106 | +€106 | |
| Other amounts payable | 47/48 | €94,421 | €74,824 | -€19,597 | -20.8% |
| Accrued charges and deferred income | 492/3 | €1,308 | €0 | -€1,308 | -100% |
| Non-recurring operating income | 76A | - | €1,828 | +€1,828 | |
| Remuneration, social security and pensions | 62 | €10,209 | €0 | -€10,209 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,589 | €1,123 | -€4,465 | -79.9% |
| Other operating charges | 640/8 | €1,213 | €1,633 | +€419 | +34.6% |
| Non-recurring operating charges | 66A | - | €6,191 | +€6,191 | |
| Gross operating margin | 9900 | €137,906 | €223,338 | +€85,433 | +62.0% |
| Operating profit (loss) | 9901 | €120,895 | €214,392 | +€93,497 | +77.3% |
| Financial income | 75/76B | €3 | €5,647 | +€5,644 | +188,131% |
| Recurring financial income | 75 | €3 | €5,647 | +€5,644 | +188,131% |
| Financial charges | 65/66B | €13,437 | €12,196 | -€1,240 | -9.2% |
| Recurring financial charges | 65 | €13,437 | €12,196 | -€1,240 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €107,461 | €207,843 | +€100,382 | +93.4% |
| Income taxes | 67/77 | €36,376 | €69,852 | +€33,476 | +92.0% |
| Profit (loss) for the period | 9904 | €71,085 | €137,990 | +€66,905 | +94.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,085 | €137,990 | +€66,905 | +94.1% |
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 17 October 2026 via checked.be.