ADW MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€96,382
up €96,382 (+66.5%), from €144,879 to €241,261
mainly Receivables after one year (+€90,000) and Net result for the year (+€25,694)
- Receivables after one year -€90,000
down €90,000 (-90.0%), from €100,000 to €10,000
- Financial fixed assets +€19,512
up €19,512 (+43,360%), from €45 to €19,557
- Receivables within one year -€18,261
down €18,261 (-50.8%), from €35,920 to €17,660
of which Trade receivables: -€12,074
- Other debts +€8,311
up €8,311 (+27.5%), from €30,222 to €38,532
- Reserves -€5,000
down €5,000 (-2.2%), from €223,860 to €218,860
of which Distributable reserves: -€5,000
- Tax, wage and social debts +€4,545
up €4,545 (+20.1%), from €22,603 to €27,147
of which Taxes: +€8,546
- Gross operating margin +€15,310
up €15,310 (+16.1%), from €94,844 to €110,153
- Taxes +€3,869
up €3,869 (+42.2%), from €9,164 to €13,033
- Financial income -€1,301
down €1,301 (-45.7%), from €2,848 to €1,546
- Staff costs +€1,183
up €1,183 (+1.8%), from €64,449 to €65,632
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 | €294,888 | €303,460 | +€8,571 | +2.9% |
| Fixed assets | 21/28 | €14,089 | €34,539 | +€20,450 | +145% |
| Tangible fixed assets | 22/27 | €14,044 | €14,982 | +€938 | +6.7% |
| Plant, machinery and equipment | 23 | €14,044 | €9,744 | -€4,300 | -30.6% |
| Furniture and vehicles | 24 | - | €5,238 | +€5,238 | |
| Financial fixed assets | 28 | €45 | €19,557 | +€19,512 | +43,360% |
| Current assets | 29/58 | €280,799 | €268,920 | -€11,879 | -4.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €10,000 | -€90,000 | -90.0% |
| Other amounts receivable | 291 | €100,000 | €10,000 | -€90,000 | -90.0% |
| Amounts receivable within one year | 40/41 | €35,920 | €17,660 | -€18,261 | -50.8% |
| Trade receivables | 40 | €29,734 | €17,660 | -€12,074 | -40.6% |
| Other amounts receivable | 41 | €6,187 | - | -€6,187 | |
| Cash at bank and in hand | 54/58 | €144,879 | €241,261 | +€96,382 | +66.5% |
| Total equity and liabilities | 10/49 | €294,888 | €303,460 | +€8,571 | +2.9% |
| Equity | 10/15 | €241,576 | €237,270 | -€4,306 | -1.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €223,860 | €218,860 | -€5,000 | -2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €222,000 | €217,000 | -€5,000 | -2.3% |
| Profit (loss) carried forward | 14 | €11,516 | €12,210 | +€694 | +6.0% |
| Amounts payable | 17/49 | €53,313 | €66,190 | +€12,877 | +24.2% |
| Amounts payable within one year | 42/48 | €53,313 | €66,190 | +€12,877 | +24.2% |
| Trade debts | 44 | €488 | €510 | +€22 | +4.5% |
| Suppliers | 440/4 | €488 | €510 | +€22 | +4.5% |
| Taxes, remuneration and social security | 45 | €22,603 | €27,147 | +€4,545 | +20.1% |
| Taxes | 450/3 | €8,204 | €16,750 | +€8,546 | +104% |
| Remuneration and social security | 454/9 | €14,399 | €10,397 | -€4,002 | -27.8% |
| Other amounts payable | 47/48 | €30,222 | €38,532 | +€8,311 | +27.5% |
| Remuneration, social security and pensions | 62 | €64,449 | €65,632 | +€1,183 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,296 | €5,046 | +€750 | +17.5% |
| Other operating charges | 640/8 | €1,542 | €1,667 | +€125 | +8.1% |
| Gross operating margin | 9900 | €94,844 | €110,153 | +€15,310 | +16.1% |
| Operating profit (loss) | 9901 | €24,556 | €37,808 | +€13,252 | +54.0% |
| Financial income | 75/76B | €2,848 | €1,546 | -€1,301 | -45.7% |
| Recurring financial income | 75 | €2,848 | €1,546 | -€1,301 | -45.7% |
| Financial charges | 65/66B | €481 | €627 | +€145 | +30.2% |
| Recurring financial charges | 65 | €481 | €627 | +€145 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €26,922 | €38,727 | +€11,805 | +43.8% |
| Income taxes | 67/77 | €9,164 | €13,033 | +€3,869 | +42.2% |
| Profit (loss) for the period | 9904 | €17,758 | €25,694 | +€7,936 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,758 | €25,694 | +€7,936 | +44.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.