ADwork: 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.
ADwork
Largest movements
- Current investments +€1.3m
up €1.3m (+646.0%), from €201,117 to €1.5m
- Receivables after one year +€1.0m
new in 2025: €1.0m
- Tangible fixed assets +€128,365
up €128,365 (+42.2%), from €303,873 to €432,238
of which Other tangible fixed assets: +€161,322
- Receivables within one year -€44,642
down €44,642 (-51.1%), from €87,377 to €42,735
of which Other amounts receivable: -€31,499
- Reserves +€2.5m
up €2.5m (+438.2%), from €564,579 to €3.0m
of which Distributable reserves: +€2.1m
- Tax, wage and social debts -€50,196
down €50,196 (-65.9%), from €76,141 to €25,944
- Gross operating margin -€217,115
down €217,115 (-51.8%), from €418,878 to €201,763
- Taxes -€70,910
down €70,910 (-60.9%), from €116,399 to €45,489
- Financial income +€37,641
up €37,641 (+694.7%), from €5,418 to €43,060
- Financial charges +€33,575
up €33,575 (+601.9%), from €5,579 to €39,153
of which Non-recurring financial charges: +€32,750
- Depreciation +€9,804
up €9,804 (+24.6%), from €39,790 to €49,594
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 | €793,558 | €3,205,652 | +€2.4m | +304.0% |
| Fixed assets | 21/28 | €303,873 | €432,238 | +€128,365 | +42.2% |
| Tangible fixed assets | 22/27 | €303,873 | €432,238 | +€128,365 | +42.2% |
| Furniture and vehicles | 24 | €111,172 | €78,215 | -€32,957 | -29.6% |
| Other tangible fixed assets | 26 | €192,701 | €354,023 | +€161,322 | +83.7% |
| Current assets | 29/58 | €489,685 | €2,773,413 | +€2.3m | +466.4% |
| Amounts receivable after more than one year | 29 | - | €1,004,545 | +€1.0m | |
| Other amounts receivable | 291 | - | €1,004,545 | +€1.0m | |
| Amounts receivable within one year | 40/41 | €87,377 | €42,735 | -€44,642 | -51.1% |
| Trade receivables | 40 | €55,457 | €42,315 | -€13,143 | -23.7% |
| Other amounts receivable | 41 | €31,919 | €420 | -€31,499 | -98.7% |
| Current investments | 50/53 | €201,117 | €1,500,356 | +€1.3m | +646.0% |
| Cash at bank and in hand | 54/58 | €200,234 | €224,589 | +€24,355 | +12.2% |
| Deferred charges and accrued income | 490/1 | €956 | €1,188 | +€232 | +24.3% |
| Total equity and liabilities | 10/49 | €793,558 | €3,205,652 | +€2.4m | +304.0% |
| Equity | 10/15 | €583,179 | €3,059,334 | +€2.5m | +424.6% |
| Contributions | 10/11 | €18,600 | €20,528 | +€1,928 | +10.4% |
| Reserves | 13 | €564,579 | €3,038,806 | +€2.5m | +438.2% |
| Tax-exempt reserves | 132 | - | €360,391 | +€360,391 | |
| Distributable reserves | 133 | €564,579 | €2,678,415 | +€2.1m | +374.4% |
| Amounts payable | 17/49 | €210,379 | €146,318 | -€64,060 | -30.5% |
| Amounts payable after more than one year | 17 | €108,815 | €108,815 | = | 0.0% |
| Financial debts | 170/4 | €108,815 | €108,815 | = | 0.0% |
| Amounts payable within one year | 42/48 | €101,564 | €37,504 | -€64,060 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €21,557 | - | -€21,557 | |
| Trade debts | 44 | €3,617 | €10,867 | +€7,251 | +200.5% |
| Suppliers | 440/4 | €3,617 | €10,867 | +€7,251 | +200.5% |
| Taxes, remuneration and social security | 45 | €76,141 | €25,944 | -€50,196 | -65.9% |
| Taxes | 450/3 | €76,141 | €25,944 | -€50,196 | -65.9% |
| Other amounts payable | 47/48 | €250 | €692 | +€442 | +177.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,790 | €49,594 | +€9,804 | +24.6% |
| Other operating charges | 640/8 | €1,685 | €3,525 | +€1,841 | +109.2% |
| Gross operating margin | 9900 | €418,878 | €201,763 | -€217,115 | -51.8% |
| Operating profit (loss) | 9901 | €377,403 | €148,644 | -€228,760 | -60.6% |
| Financial income | 75/76B | €5,418 | €43,060 | +€37,641 | +694.7% |
| Recurring financial income | 75 | €5,418 | €43,060 | +€37,641 | +694.7% |
| Financial charges | 65/66B | €5,579 | €39,153 | +€33,575 | +601.9% |
| Recurring financial charges | 65 | €5,579 | €6,403 | +€825 | +14.8% |
| Non-recurring financial charges | 66B | - | €32,750 | +€32,750 | |
| Profit (loss) for the period before taxes | 9903 | €377,243 | €152,550 | -€224,693 | -59.6% |
| Income taxes | 67/77 | €116,399 | €45,489 | -€70,910 | -60.9% |
| Profit (loss) for the period | 9904 | €260,844 | €107,061 | -€153,783 | -59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €260,844 | €107,061 | -€153,783 | -59.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.