ADZ 55: 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.
ADZ 55
Largest movements
- Cash -€35,188
down €35,188 (-31.3%), from €112,581 to €77,393
mainly Net result for the year (-€44,719) and Receivables within one year (-€5,157)
- Tangible fixed assets -€14,306
down €14,306 (-37.4%), from €38,222 to €23,916
of which Plant, machinery and equipment: -€7,414
- Receivables within one year +€5,157
up €5,157 (+8.4%), from €61,427 to €66,584
of which Trade receivables: +€6,260
- Profit (loss) carried forward -€44,719
down €44,719 (-22.2%), from €201,773 to €157,055
- Depreciation -€1,964
down €1,964 (-12.1%), from €16,270 to €14,306
- Gross operating margin +€1,108
up €1,108 (+3.7%), from -€30,256 to -€29,149
- Other operating charges +€881
up €881 (+98.6%), from €893 to €1,774
- Financial income -€739
down €739 (-46.7%), from €1,583 to €844
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 | €213,822 | €168,551 | -€45,271 | -21.2% |
| Fixed assets | 21/28 | €38,222 | €23,916 | -€14,306 | -37.4% |
| Tangible fixed assets | 22/27 | €38,222 | €23,916 | -€14,306 | -37.4% |
| Plant, machinery and equipment | 23 | €31,330 | €23,916 | -€7,414 | -23.7% |
| Furniture and vehicles | 24 | €6,892 | €0 | -€6,892 | -100% |
| Current assets | 29/58 | €175,600 | €144,634 | -€30,966 | -17.6% |
| Stocks and contracts in progress | 3 | €595 | €595 | = | 0.0% |
| Stocks | 30/36 | €595 | €595 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,427 | €66,584 | +€5,157 | +8.4% |
| Trade receivables | 40 | €59,866 | €66,126 | +€6,260 | +10.5% |
| Other amounts receivable | 41 | €1,561 | €458 | -€1,103 | -70.7% |
| Cash at bank and in hand | 54/58 | €112,581 | €77,393 | -€35,188 | -31.3% |
| Deferred charges and accrued income | 490/1 | €998 | €63 | -€935 | -93.7% |
| Total equity and liabilities | 10/49 | €213,822 | €168,551 | -€45,271 | -21.2% |
| Equity | 10/15 | €209,830 | €165,111 | -€44,719 | -21.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,773 | €157,055 | -€44,719 | -22.2% |
| Amounts payable | 17/49 | €3,992 | €3,440 | -€553 | -13.8% |
| Amounts payable within one year | 42/48 | €3,992 | €3,440 | -€553 | -13.8% |
| Trade debts | 44 | €3,595 | €3,440 | -€155 | -4.3% |
| Suppliers | 440/4 | €3,595 | €3,440 | -€155 | -4.3% |
| Other amounts payable | 47/48 | €397 | €0 | -€397 | -100% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,270 | €14,306 | -€1,964 | -12.1% |
| Other operating charges | 640/8 | €893 | €1,774 | +€881 | +98.6% |
| Gross operating margin | 9900 | -€30,256 | -€29,149 | +€1,108 | +3.7% |
| Operating profit (loss) | 9901 | -€47,420 | -€45,229 | +€2,191 | +4.6% |
| Financial income | 75/76B | €1,583 | €844 | -€739 | -46.7% |
| Recurring financial income | 75 | €1,583 | €844 | -€739 | -46.7% |
| Financial charges | 65/66B | €128 | €82 | -€47 | -36.4% |
| Recurring financial charges | 65 | €128 | €82 | -€47 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€45,965 | -€44,466 | +€1,499 | +3.3% |
| Income taxes | 67/77 | €416 | €252 | -€164 | -39.4% |
| Profit (loss) for the period | 9904 | -€46,381 | -€44,719 | +€1,663 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,381 | -€44,719 | +€1,663 | +3.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.