A.D.L. EXPRESS: 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.
A.D.L. EXPRESS
Largest movements
- Cash -€84,606
down €84,606 (-31.6%), from €267,520 to €182,915
mainly Contributions, distributions and other (-€102,228) and Investment in fixed assets (net) (-€41,754)
- Receivables within one year +€31,239
up €31,239 (+13.1%), from €237,689 to €268,927
of which Trade receivables: +€36,927
- Tangible fixed assets +€27,140
up €27,140 (+80.1%), from €33,876 to €61,017
of which Leasing and similar rights: +€31,460
- Reserves -€53,188
down €53,188 (-15.4%), from €344,262 to €291,074
of which Distributable reserves: -€53,188
- Trade debts -€22,746
down €22,746 (-49.4%), from €46,048 to €23,302
- Debts after one year +€22,635
new in 2025: €22,635
- Other debts +€14,319
up €14,319 (+16.6%), from €86,282 to €100,601
- Current portion of long-term debt +€8,300
new in 2025: €8,300
- Staff costs -€24,982
down €24,982 (-10.7%), from €233,398 to €208,416
- Financial charges +€11,341
up €11,341 (+157%), from €7,225 to €18,567
of which Financial charges: +€10,237
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 | €539,690 | €513,464 | -€26,227 | -4.9% |
| Fixed assets | 21/28 | €34,481 | €61,622 | +€27,140 | +78.7% |
| Tangible fixed assets | 22/27 | €33,876 | €61,017 | +€27,140 | +80.1% |
| Plant, machinery and equipment | 23 | €1,383 | €517 | -€866 | -62.6% |
| Furniture and vehicles | 24 | €14,750 | €4,716 | -€10,034 | -68.0% |
| Leasing and similar rights | 25 | - | €31,460 | +€31,460 | |
| Other tangible fixed assets | 26 | €17,743 | €24,323 | +€6,580 | +37.1% |
| Financial fixed assets | 28 | €605 | €605 | = | 0.0% |
| Current assets | 29/58 | €505,209 | €451,842 | -€53,367 | -10.6% |
| Amounts receivable within one year | 40/41 | €237,689 | €268,927 | +€31,239 | +13.1% |
| Trade receivables | 40 | €180,526 | €217,453 | +€36,927 | +20.5% |
| Other amounts receivable | 41 | €57,163 | €51,474 | -€5,689 | -10.0% |
| Cash at bank and in hand | 54/58 | €267,520 | €182,915 | -€84,606 | -31.6% |
| Total equity and liabilities | 10/49 | €539,690 | €513,464 | -€26,227 | -4.9% |
| Equity | 10/15 | €362,862 | €309,674 | -€53,188 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,262 | €291,074 | -€53,188 | -15.4% |
| Tax-exempt reserves | 132 | €1,750 | €1,750 | = | 0.0% |
| Distributable reserves | 133 | €342,512 | €289,324 | -€53,188 | -15.5% |
| Amounts payable | 17/49 | €176,829 | €203,790 | +€26,961 | +15.2% |
| Amounts payable after more than one year | 17 | - | €22,635 | +€22,635 | |
| Financial debts | 170/4 | - | €22,635 | +€22,635 | |
| Amounts payable within one year | 42/48 | €176,829 | €181,155 | +€4,326 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,300 | +€8,300 | |
| Trade debts | 44 | €46,048 | €23,302 | -€22,746 | -49.4% |
| Suppliers | 440/4 | €46,048 | €23,302 | -€22,746 | -49.4% |
| Taxes, remuneration and social security | 45 | €44,499 | €48,951 | +€4,452 | +10.0% |
| Taxes | 450/3 | €21,921 | €28,902 | +€6,981 | +31.8% |
| Remuneration and social security | 454/9 | €22,578 | €20,050 | -€2,528 | -11.2% |
| Other amounts payable | 47/48 | €86,282 | €100,601 | +€14,319 | +16.6% |
| Remuneration, social security and pensions | 62 | €233,398 | €208,416 | -€24,982 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,980 | €14,613 | +€634 | +4.5% |
| Other operating charges | 640/8 | €4,345 | €4,163 | -€182 | -4.2% |
| Gross operating margin | 9900 | €314,430 | €313,139 | -€1,291 | -0.4% |
| Operating profit (loss) | 9901 | €62,707 | €85,947 | +€23,239 | +37.1% |
| Financial income | 75/76B | €527 | €1,235 | +€708 | +134% |
| Recurring financial income | 75 | €527 | €1,235 | +€708 | +134% |
| Financial charges | 65/66B | €7,225 | €18,567 | +€11,341 | +157% |
| Recurring financial charges | 65 | €6,725 | €16,963 | +€10,237 | +152% |
| Non-recurring financial charges | 66B | €500 | €1,604 | +€1,104 | +221% |
| Profit (loss) for the period before taxes | 9903 | €56,009 | €68,615 | +€12,606 | +22.5% |
| Income taxes | 67/77 | €17,633 | €19,574 | +€1,941 | +11.0% |
| Profit (loss) for the period | 9904 | €38,376 | €49,041 | +€10,665 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,376 | €49,041 | +€10,665 | +27.8% |
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 19 October 2026 via checked.be.