ADW IT: 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.
ADW IT
Largest movements
- Receivables within one year +€61,681
up €61,681 (+283.3%), from €21,773 to €83,454
of which Other amounts receivable: +€56,621
- Cash -€13,477
down €13,477 (-21.6%), from €62,272 to €48,795
mainly Receivables within one year (-€61,681) and Debts after one year (-€11,195)
- Tangible fixed assets -€7,913
down €7,913 (-24.4%), from €32,474 to €24,561
of which Leasing and similar rights: -€10,661
- Reserves +€48,942
up €48,942 (+82.6%), from €59,233 to €108,175
- Debts after one year -€11,195
down €11,195 (-62.1%), from €18,018 to €6,823
- Tax, wage and social debts +€6,549
up €6,549 (+36.6%), from €17,877 to €24,426
- Other debts -€4,764
no longer reported in 2025 (was €4,764)
- Gross operating margin +€16,961
up €16,961 (+28.8%), from €58,797 to €75,759
- Taxes +€3,831
up €3,831 (+41.7%), from €9,176 to €13,007
- Financial income +€1,363
up €1,363 (+888.8%), from €153 to €1,516
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.
Cash bridge derived
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 | €117,944 | €157,942 | +€39,998 | +33.9% |
| Fixed assets | 21/28 | €32,474 | €24,561 | -€7,913 | -24.4% |
| Tangible fixed assets | 22/27 | €32,474 | €24,561 | -€7,913 | -24.4% |
| Plant, machinery and equipment | 23 | €2,229 | €5,616 | +€3,387 | +152.0% |
| Furniture and vehicles | 24 | €2,730 | €2,091 | -€639 | -23.4% |
| Leasing and similar rights | 25 | €27,515 | €16,853 | -€10,661 | -38.7% |
| Current assets | 29/58 | €85,470 | €133,381 | +€47,911 | +56.1% |
| Amounts receivable within one year | 40/41 | €21,773 | €83,454 | +€61,681 | +283.3% |
| Trade receivables | 40 | €21,120 | €26,180 | +€5,060 | +24.0% |
| Other amounts receivable | 41 | €653 | €57,274 | +€56,621 | +8675.7% |
| Cash at bank and in hand | 54/58 | €62,272 | €48,795 | -€13,477 | -21.6% |
| Deferred charges and accrued income | 490/1 | €1,425 | €1,132 | -€293 | -20.6% |
| Total equity and liabilities | 10/49 | €117,944 | €157,942 | +€39,998 | +33.9% |
| Equity | 10/15 | €64,233 | €113,175 | +€48,942 | +76.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,233 | €108,175 | +€48,942 | +82.6% |
| Distributable reserves | 133 | €59,233 | €108,175 | +€48,942 | +82.6% |
| Amounts payable | 17/49 | €53,711 | €44,767 | -€8,944 | -16.7% |
| Amounts payable after more than one year | 17 | €18,018 | €6,823 | -€11,195 | -62.1% |
| Financial debts | 170/4 | €18,018 | €6,823 | -€11,195 | -62.1% |
| Amounts payable within one year | 42/48 | €35,649 | €37,944 | +€2,295 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €10,592 | €11,195 | +€604 | +5.7% |
| Trade debts | 44 | €2,416 | €2,323 | -€94 | -3.9% |
| Suppliers | 440/4 | €2,416 | €2,323 | -€94 | -3.9% |
| Taxes, remuneration and social security | 45 | €17,877 | €24,426 | +€6,549 | +36.6% |
| Taxes | 450/3 | €17,877 | €24,426 | +€6,549 | +36.6% |
| Other amounts payable | 47/48 | €4,764 | - | -€4,764 | |
| Accrued charges and deferred income | 492/3 | €44 | - | -€44 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,449 | €13,652 | +€203 | +1.5% |
| Other operating charges | 640/8 | €125 | €125 | +€0 | +0.3% |
| Gross operating margin | 9900 | €58,797 | €75,759 | +€16,961 | +28.8% |
| Operating profit (loss) | 9901 | €45,224 | €61,981 | +€16,758 | +37.1% |
| Financial income | 75/76B | €153 | €1,516 | +€1,363 | +888.8% |
| Recurring financial income | 75 | €153 | €1,516 | +€1,363 | +888.8% |
| Financial charges | 65/66B | €2,242 | €1,549 | -€694 | -30.9% |
| Recurring financial charges | 65 | €2,242 | €1,549 | -€694 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €43,135 | €61,949 | +€18,814 | +43.6% |
| Income taxes | 67/77 | €9,176 | €13,007 | +€3,831 | +41.7% |
| Profit (loss) for the period | 9904 | €33,959 | €48,942 | +€14,984 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,959 | €48,942 | +€14,984 | +44.1% |
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 9 October 2026 via checked.be.