ADW@WORK: 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@WORK
Largest movements
- Cash +€15,979
up €15,979 (+13.1%), from €122,204 to €138,183
mainly Net result for the year (+€63,919) and Depreciation (+€11,443)
- Tangible fixed assets -€11,443
down €11,443 (-46.5%), from €24,618 to €13,175
- Reserves +€13,919
up €13,919 (+5.2%), from €269,612 to €283,531
- Debts after one year -€9,153
down €9,153 (-80.0%), from €11,435 to €2,282
- Other debts +€6,786
up €6,786 (+63.0%), from €10,766 to €17,552
- Tax, wage and social debts -€6,275
down €6,275 (-15.4%), from €40,677 to €34,401
- Gross operating margin +€6,858
up €6,858 (+10.2%), from €67,382 to €74,240
- Taxes +€2,466
up €2,466 (+12.1%), from €20,374 to €22,840
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 | €360,517 | €365,568 | +€5,051 | +1.4% |
| Fixed assets | 21/28 | €219,620 | €208,178 | -€11,443 | -5.2% |
| Tangible fixed assets | 22/27 | €24,618 | €13,175 | -€11,443 | -46.5% |
| Furniture and vehicles | 24 | €24,618 | €13,175 | -€11,443 | -46.5% |
| Financial fixed assets | 28 | €195,003 | €195,003 | = | 0.0% |
| Current assets | 29/58 | €140,897 | €157,391 | +€16,494 | +11.7% |
| Amounts receivable within one year | 40/41 | €16,330 | €16,825 | +€495 | +3.0% |
| Trade receivables | 40 | €16,330 | €16,825 | +€495 | +3.0% |
| Current investments | 50/53 | €1,500 | €1,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,204 | €138,183 | +€15,979 | +13.1% |
| Deferred charges and accrued income | 490/1 | €862 | €882 | +€20 | +2.3% |
| Total equity and liabilities | 10/49 | €360,517 | €365,568 | +€5,051 | +1.4% |
| Equity | 10/15 | €288,204 | €302,123 | +€13,919 | +4.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €269,612 | €283,531 | +€13,919 | +5.2% |
| Distributable reserves | 133 | €269,612 | €283,531 | +€13,919 | +5.2% |
| Amounts payable | 17/49 | €72,313 | €63,445 | -€8,868 | -12.3% |
| Amounts payable after more than one year | 17 | €11,435 | €2,282 | -€9,153 | -80.0% |
| Financial debts | 170/4 | €11,435 | €2,282 | -€9,153 | -80.0% |
| Amounts payable within one year | 42/48 | €60,877 | €61,163 | +€286 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €9,065 | €9,153 | +€88 | +1.0% |
| Trade debts | 44 | €370 | €57 | -€313 | -84.6% |
| Suppliers | 440/4 | €370 | €57 | -€313 | -84.6% |
| Taxes, remuneration and social security | 45 | €40,677 | €34,401 | -€6,275 | -15.4% |
| Taxes | 450/3 | €40,677 | €34,401 | -€6,275 | -15.4% |
| Other amounts payable | 47/48 | €10,766 | €17,552 | +€6,786 | +63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,443 | €11,443 | = | 0.0% |
| Other operating charges | 640/8 | €726 | €695 | -€31 | -4.2% |
| Gross operating margin | 9900 | €67,382 | €74,240 | +€6,858 | +10.2% |
| Operating profit (loss) | 9901 | €55,214 | €62,103 | +€6,889 | +12.5% |
| Financial income | 75/76B | €25,000 | €25,000 | = | 0.0% |
| Recurring financial income | 75 | €25,000 | €25,000 | = | 0.0% |
| Financial charges | 65/66B | €525 | €344 | -€181 | -34.5% |
| Recurring financial charges | 65 | €525 | €344 | -€181 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €79,689 | €86,759 | +€7,070 | +8.9% |
| Income taxes | 67/77 | €20,374 | €22,840 | +€2,466 | +12.1% |
| Profit (loss) for the period | 9904 | €59,315 | €63,919 | +€4,604 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,315 | €63,919 | +€4,604 | +7.8% |
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 29 September 2026 via checked.be.