ADW SERVICES: what changed
Two fiscal 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 SERVICES
Largest movements
- Cash +€51,033
up €51,033 (+502.0%), from €10,165 to €61,199
mainly Other debts (+€74,027) and Net result for the year (+€70,871)
- Tangible fixed assets -€11,470
down €11,470 (-2.0%), from €564,983 to €553,513
of which Land and buildings: -€19,370
- Other debts +€74,027
up €74,027 (+166.3%), from €44,516 to €118,543
- Current portion of long-term debt +€32,492
up €32,492 (+133.4%), from €24,364 to €56,855
- Debts after one year -€28,855
down €28,855 (-7.0%), from €413,997 to €385,142
of which Financial debts: -€56,855
- Reserves -€28,805
down €28,805 (-48.5%), from €59,355 to €30,550
- Tax, wage and social debts -€16,705
down €16,705 (-61.9%), from €27,007 to €10,302
of which Remuneration and social security: -€11,100
- Gross operating margin +€60,032
up €60,032 (+63.3%), from €94,872 to €154,903
- Taxes +€16,245
up €16,245 (+175.1%), from €9,280 to €25,526
- Depreciation +€2,106
up €2,106 (+5.1%), from €41,034 to €43,140
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 | €607,708 | €649,425 | +€41,717 | +6.9% |
| Fixed assets | 21/28 | €564,983 | €553,513 | -€11,470 | -2.0% |
| Tangible fixed assets | 22/27 | €564,983 | €553,513 | -€11,470 | -2.0% |
| Land and buildings | 22 | €529,910 | €510,541 | -€19,370 | -3.7% |
| Plant, machinery and equipment | 23 | - | €16,674 | +€16,674 | |
| Furniture and vehicles | 24 | €33,945 | €25,638 | -€8,308 | -24.5% |
| Other tangible fixed assets | 26 | €1,127 | €661 | -€466 | -41.4% |
| Current assets | 29/58 | €42,726 | €95,912 | +€53,186 | +124.5% |
| Amounts receivable within one year | 40/41 | €28,012 | €29,844 | +€1,832 | +6.5% |
| Trade receivables | 40 | €28,012 | €29,844 | +€1,832 | +6.5% |
| Cash at bank and in hand | 54/58 | €10,165 | €61,199 | +€51,033 | +502.0% |
| Deferred charges and accrued income | 490/1 | €4,548 | €4,869 | +€321 | +7.1% |
| Total equity and liabilities | 10/49 | €607,708 | €649,425 | +€41,717 | +6.9% |
| Equity | 10/15 | €77,955 | €49,150 | -€28,805 | -37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,355 | €30,550 | -€28,805 | -48.5% |
| Distributable reserves | 133 | €59,355 | €30,550 | -€28,805 | -48.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €529,753 | €600,275 | +€70,522 | +13.3% |
| Amounts payable after more than one year | 17 | €413,997 | €385,142 | -€28,855 | -7.0% |
| Financial debts | 170/4 | €364,997 | €308,142 | -€56,855 | -15.6% |
| Other amounts payable | 178/9 | €49,000 | €77,000 | +€28,000 | +57.1% |
| Amounts payable within one year | 42/48 | €111,826 | €209,681 | +€97,855 | +87.5% |
| Current portion of amounts payable after more than one year | 42 | €24,364 | €56,855 | +€32,492 | +133.4% |
| Trade debts | 44 | €15,939 | €23,981 | +€8,041 | +50.5% |
| Suppliers | 440/4 | €15,939 | €23,981 | +€8,041 | +50.5% |
| Taxes, remuneration and social security | 45 | €27,007 | €10,302 | -€16,705 | -61.9% |
| Taxes | 450/3 | €15,907 | €10,302 | -€5,605 | -35.2% |
| Remuneration and social security | 454/9 | €11,100 | €0 | -€11,100 | -100.0% |
| Other amounts payable | 47/48 | €44,516 | €118,543 | +€74,027 | +166.3% |
| Accrued charges and deferred income | 492/3 | €3,930 | €5,452 | +€1,522 | +38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,034 | €43,140 | +€2,106 | +5.1% |
| Other operating charges | 640/8 | €2,538 | €2,355 | -€183 | -7.2% |
| Gross operating margin | 9900 | €94,872 | €154,903 | +€60,032 | +63.3% |
| Operating profit (loss) | 9901 | €51,300 | €109,409 | +€58,109 | +113.3% |
| Financial income | 75/76B | €33 | €0 | -€33 | -100.0% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -100.0% |
| Financial charges | 65/66B | €11,529 | €13,012 | +€1,483 | +12.9% |
| Recurring financial charges | 65 | €11,529 | €13,012 | +€1,483 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €39,803 | €96,397 | +€56,593 | +142.2% |
| Income taxes | 67/77 | €9,280 | €25,526 | +€16,245 | +175.1% |
| Profit (loss) for the period | 9904 | €30,523 | €70,871 | +€40,348 | +132.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,523 | €70,871 | +€40,348 | +132.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.