Adyco: 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.
Adyco
Largest movements
- Cash -€73,789
down €73,789 (-41.0%), from €179,957 to €106,168
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€23,822)
- Receivables within one year +€23,822
up €23,822 (+210.0%), from €11,345 to €35,167
of which Trade receivables: +€24,425
- Tangible fixed assets -€22,544
down €22,544 (-33.6%), from €67,008 to €44,464
of which Furniture and vehicles: -€21,171
- Reserves -€70,006
down €70,006 (-35.4%), from €197,494 to €127,487
- Other debts +€13,704
up €13,704 (+124.7%), from €10,985 to €24,690
- Tax, wage and social debts -€10,425
down €10,425 (-69.9%), from €14,921 to €4,496
- Trade debts -€3,234
down €3,234 (-23.5%), from €13,759 to €10,526
- Gross operating margin +€77,551
up €77,551 (+41.6%), from €186,374 to €263,924
- Taxes +€25,642
up €25,642 (+77.8%), from €32,974 to €58,616
- Other operating charges -€15,054
down €15,054 (-93.1%), from €16,175 to €1,121
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 | €258,310 | €185,799 | -€72,511 | -28.1% |
| Fixed assets | 21/28 | €67,008 | €44,464 | -€22,544 | -33.6% |
| Tangible fixed assets | 22/27 | €67,008 | €44,464 | -€22,544 | -33.6% |
| Plant, machinery and equipment | 23 | €3,185 | €1,812 | -€1,373 | -43.1% |
| Furniture and vehicles | 24 | €63,823 | €42,652 | -€21,171 | -33.2% |
| Current assets | 29/58 | €191,302 | €141,335 | -€49,967 | -26.1% |
| Amounts receivable within one year | 40/41 | €11,345 | €35,167 | +€23,822 | +210.0% |
| Trade receivables | 40 | €10,742 | €35,167 | +€24,425 | +227.4% |
| Other amounts receivable | 41 | €603 | €0 | -€603 | -100.0% |
| Cash at bank and in hand | 54/58 | €179,957 | €106,168 | -€73,789 | -41.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €258,310 | €185,799 | -€72,511 | -28.1% |
| Equity | 10/15 | €216,094 | €146,087 | -€70,006 | -32.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,494 | €127,487 | -€70,006 | -35.4% |
| Distributable reserves | 133 | €197,494 | €127,487 | -€70,006 | -35.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,216 | €39,711 | -€2,505 | -5.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €39,666 | €39,711 | +€45 | +0.1% |
| Trade debts | 44 | €13,759 | €10,526 | -€3,234 | -23.5% |
| Suppliers | 440/4 | €13,759 | €10,526 | -€3,234 | -23.5% |
| Taxes, remuneration and social security | 45 | €14,921 | €4,496 | -€10,425 | -69.9% |
| Taxes | 450/3 | €14,921 | €4,496 | -€10,425 | -69.9% |
| Other amounts payable | 47/48 | €10,985 | €24,690 | +€13,704 | +124.7% |
| Accrued charges and deferred income | 492/3 | €2,550 | €0 | -€2,550 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,409 | €23,033 | -€1,376 | -5.6% |
| Other operating charges | 640/8 | €16,175 | €1,121 | -€15,054 | -93.1% |
| Non-recurring operating charges | 66A | - | €816 | +€816 | |
| Gross operating margin | 9900 | €186,374 | €263,924 | +€77,551 | +41.6% |
| Operating profit (loss) | 9901 | €145,790 | €238,954 | +€93,165 | +63.9% |
| Financial income | 75/76B | €88 | €382 | +€294 | +335.7% |
| Recurring financial income | 75 | €88 | €382 | +€294 | +335.7% |
| Financial charges | 65/66B | €1,321 | €727 | -€595 | -45.0% |
| Recurring financial charges | 65 | €1,321 | €727 | -€595 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €144,556 | €238,609 | +€94,054 | +65.1% |
| Income taxes | 67/77 | €32,974 | €58,616 | +€25,642 | +77.8% |
| Profit (loss) for the period | 9904 | €111,582 | €179,994 | +€68,412 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,582 | €179,994 | +€68,412 | +61.3% |
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.