ADOD: what changed
ADOD
Largest movements
- Cash +€107,492
up €107,492 (+385%), from €27,942 to €135,434
mainly Net result for the year (+€71,529) and Receivables within one year (+€55,626)
- Receivables within one year -€55,626
down €55,626 (-42.5%), from €130,956 to €75,329
of which Trade receivables: -€51,170
- Tangible fixed assets +€7,411
up €7,411 (+80.4%), from €9,215 to €16,625
of which Furniture and vehicles: +€9,312
- Other debts +€51,428
up €51,428 (+143%), from €35,868 to €87,296
- Tax, wage and social debts +€10,013
up €10,013 (+218%), from €4,587 to €14,600
- Gross operating margin +€34,220
up €34,220 (+55.0%), from €62,203 to €96,422
- Taxes +€7,094
up €7,094 (+55.3%), from €12,817 to €19,911
- Other operating charges -€1,206
down €1,206 (-66.1%), from €1,826 to €620
Change in the result, 2024 to 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.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,500 | €300,025 | +€59,525 | +24.8% |
| Fixed assets | 21/28 | €79,715 | €88,546 | +€8,831 | +11.1% |
| Tangible fixed assets | 22/27 | €9,215 | €16,625 | +€7,411 | +80.4% |
| Furniture and vehicles | 24 | €297 | €9,609 | +€9,312 | +3,137% |
| Other tangible fixed assets | 26 | €8,918 | €7,016 | -€1,902 | -21.3% |
| Financial fixed assets | 28 | €70,500 | €71,921 | +€1,421 | +2.0% |
| Current assets | 29/58 | €160,785 | €211,479 | +€50,694 | +31.5% |
| Amounts receivable within one year | 40/41 | €130,956 | €75,329 | -€55,626 | -42.5% |
| Trade receivables | 40 | €123,798 | €72,628 | -€51,170 | -41.3% |
| Other amounts receivable | 41 | €7,158 | €2,701 | -€4,456 | -62.3% |
| Cash at bank and in hand | 54/58 | €27,942 | €135,434 | +€107,492 | +385% |
| Deferred charges and accrued income | 490/1 | €1,888 | €716 | -€1,172 | -62.1% |
| Total equity and liabilities | 10/49 | €240,500 | €300,025 | +€59,525 | +24.8% |
| Equity | 10/15 | €194,770 | €197,486 | +€2,715 | +1.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €193,770 | €196,486 | +€2,715 | +1.4% |
| Distributable reserves | 133 | €193,770 | €196,486 | +€2,715 | +1.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,730 | €102,540 | +€56,810 | +124% |
| Amounts payable within one year | 42/48 | €44,098 | €102,540 | +€58,442 | +133% |
| Trade debts | 44 | €3,642 | €644 | -€2,999 | -82.3% |
| Suppliers | 440/4 | €3,642 | €644 | -€2,999 | -82.3% |
| Taxes, remuneration and social security | 45 | €4,587 | €14,600 | +€10,013 | +218% |
| Taxes | 450/3 | €4,587 | €14,600 | +€10,013 | +218% |
| Other amounts payable | 47/48 | €35,868 | €87,296 | +€51,428 | +143% |
| Accrued charges and deferred income | 492/3 | €1,632 | €0 | -€1,632 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,207 | €2,956 | +€749 | +33.9% |
| Other operating charges | 640/8 | €1,826 | €620 | -€1,206 | -66.1% |
| Gross operating margin | 9900 | €62,203 | €96,422 | +€34,220 | +55.0% |
| Operating profit (loss) | 9901 | €58,169 | €92,846 | +€34,677 | +59.6% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.8% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.8% |
| Financial charges | 65/66B | €634 | €1,407 | +€773 | +122% |
| Recurring financial charges | 65 | €634 | €1,407 | +€773 | +122% |
| Profit (loss) for the period before taxes | 9903 | €57,541 | €91,440 | +€33,899 | +58.9% |
| Income taxes | 67/77 | €12,817 | €19,911 | +€7,094 | +55.3% |
| Profit (loss) for the period | 9904 | €44,724 | €71,529 | +€26,805 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,724 | €71,529 | +€26,805 | +59.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.