ADEQUAT: what changed
What changed
ADEQUAT
NACE 82.990, Other business support services
filed annual accounts (NBB)
Net result for the year
-€15,576
30-06-2025 · €24,196-€39,772
Equity
€383,160
30-06-2025 · €398,736-€15,576
Cash
€152,343
30-06-2025 · €148,593+€3,750
Balance sheet total
€1.0m
30-06-2025 · €1.1m-€51,405
Largest movements
Assets
- Receivables within one year -€32,144
down €32,144 (-17.6%), from €182,674 to €150,530
of which Trade receivables: -€17,026
- Tangible fixed assets -€31,006
down €31,006 (-4.0%), from €767,260 to €736,254
of which Land and buildings: -€21,720
Equity and liabilities
- Debts after one year -€33,964
down €33,964 (-14.4%), from €235,312 to €201,348
- Advances received -€22,221
down €22,221 (-55.9%), from €39,725 to €17,504
- Reserves -€15,576
down €15,576 (-6.4%), from €243,802 to €228,226
of which Distributable reserves: -€15,576
Income statement
- Gross operating margin -€85,669
down €85,669 (-71.0%), from €120,711 to €35,043
- Depreciation -€34,330
down €34,330 (-51.5%), from €66,685 to €32,356
- Taxes -€6,522
down €6,522 (-100%), from €6,522 to €0
- Financial charges -€2,144
down €2,144 (-12.7%), from €16,816 to €14,672
- Financial income +€1,865
up €1,865 (+26.5%), from €7,047 to €8,912
Change in the result, 30-06-2025 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 30-06-2025
€24,196
Gross operating margin
-€85,669
Depreciation
+€34,330
Other operating charges
+€1,036
Financial income
+€1,865
Financial charges
+€2,144
Taxes
+€6,522
Result 31-12-2025
-€15,576
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 30-06-2025 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€37,536
Investment
-€1,350
Financing
-€32,436
Cash 30-06-2025
€148,593
From operations (derived)
+€37,536
Net result for the year
-€15,576
Depreciation
+€32,356
Receivables within one year
+€32,144
Deferred charges and accrued income
-€7,994
Trade debts
+€10,520
Tax, wage and social debts
+€5,605
Advances received
-€22,221
Other debts
-€5,311
Accrued charges and deferred income
+€8,013
Investment (derived)
-€1,350
Investment in fixed assets (net)
-€1,350
Financing
-€32,436
Debts after one year
-€33,964
Current portion of long-term debt
+€1,528
Cash 31-12-2025
€152,343
brings cash intakes cash out
Every line side by side
| Line | Code | 30-06-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,100,365 | €1,048,959 | -€51,405 | -4.7% |
| Fixed assets | 21/28 | €767,310 | €736,304 | -€31,006 | -4.0% |
| Tangible fixed assets | 22/27 | €767,260 | €736,254 | -€31,006 | -4.0% |
| Land and buildings | 22 | €702,447 | €680,728 | -€21,720 | -3.1% |
| Plant, machinery and equipment | 23 | €34,591 | €30,078 | -€4,513 | -13.0% |
| Furniture and vehicles | 24 | €26,921 | €22,149 | -€4,773 | -17.7% |
| Other tangible fixed assets | 26 | €3,300 | €3,300 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €333,055 | €312,655 | -€20,400 | -6.1% |
| Amounts receivable within one year | 40/41 | €182,674 | €150,530 | -€32,144 | -17.6% |
| Trade receivables | 40 | €35,848 | €18,823 | -€17,026 | -47.5% |
| Other amounts receivable | 41 | €146,825 | €131,707 | -€15,118 | -10.3% |
| Cash at bank and in hand | 54/58 | €148,593 | €152,343 | +€3,750 | +2.5% |
| Deferred charges and accrued income | 490/1 | €1,788 | €9,782 | +€7,994 | +447% |
| Total equity and liabilities | 10/49 | €1,100,365 | €1,048,959 | -€51,405 | -4.7% |
| Equity | 10/15 | €398,736 | €383,160 | -€15,576 | -3.9% |
| Contributions | 10/11 | €154,933 | €154,933 | = | 0.0% |
| Capital | 10 | €154,933 | €154,933 | = | 0.0% |
| Issued capital | 100 | €154,933 | €154,933 | = | 0.0% |
| Reserves | 13 | €243,802 | €228,226 | -€15,576 | -6.4% |
| Non-distributable reserves | 130/1 | €22,800 | €22,800 | = | 0.0% |
| Legal reserve | 130 | €22,800 | €22,800 | = | 0.0% |
| Distributable reserves | 133 | €221,002 | €205,426 | -€15,576 | -7.0% |
| Amounts payable | 17/49 | €701,629 | €665,799 | -€35,829 | -5.1% |
| Amounts payable after more than one year | 17 | €235,312 | €201,348 | -€33,964 | -14.4% |
| Financial debts | 170/4 | €235,312 | €201,348 | -€33,964 | -14.4% |
| Amounts payable within one year | 42/48 | €466,316 | €456,438 | -€9,879 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €65,626 | €67,155 | +€1,528 | +2.3% |
| Trade debts | 44 | €179,516 | €190,037 | +€10,520 | +5.9% |
| Suppliers | 440/4 | €179,516 | €190,037 | +€10,520 | +5.9% |
| Advances received on contracts in progress | 46 | €39,725 | €17,504 | -€22,221 | -55.9% |
| Taxes, remuneration and social security | 45 | €4,839 | €10,444 | +€5,605 | +116% |
| Taxes | 450/3 | €4,839 | €9,357 | +€4,517 | +93.3% |
| Remuneration and social security | 454/9 | - | €1,088 | +€1,088 | |
| Other amounts payable | 47/48 | €176,610 | €171,299 | -€5,311 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €8,013 | +€8,013 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,685 | €32,356 | -€34,330 | -51.5% |
| Other operating charges | 640/8 | €13,538 | €12,502 | -€1,036 | -7.7% |
| Gross operating margin | 9900 | €120,711 | €35,043 | -€85,669 | -71.0% |
| Operating profit (loss) | 9901 | €40,488 | -€9,815 | -€50,303 | |
| Financial income | 75/76B | €7,047 | €8,912 | +€1,865 | +26.5% |
| Recurring financial income | 75 | €7,047 | €8,912 | +€1,865 | +26.5% |
| Financial charges | 65/66B | €16,816 | €14,672 | -€2,144 | -12.7% |
| Recurring financial charges | 65 | €16,816 | €14,672 | -€2,144 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €30,719 | -€15,576 | -€46,295 | |
| Income taxes | 67/77 | €6,522 | €0 | -€6,522 | -100% |
| Profit (loss) for the period | 9904 | €24,196 | -€15,576 | -€39,772 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,196 | -€15,576 | -€39,772 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.