A.D.N. IMMO: 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.N. IMMO
Largest movements
- Tangible fixed assets +€30,286
up €30,286 (+3.3%), from €904,462 to €934,747
of which Land and buildings: +€31,578
- Cash +€18,014
up €18,014 (+27.2%), from €66,134 to €84,148
mainly Depreciation (+€47,441) and Net result for the year (+€45,435)
- Reserves +€94,520
up €94,520 (+31.3%), from €301,557 to €396,077
- Profit (loss) carried forward -€49,085
down €49,085 (-14.9%), from -€329,180 to -€378,265
- Debts after one year -€32,882
down €32,882 (-7.0%), from €466,929 to €434,047
- Provisions +€31,507
up €31,507 (+31.3%), from €100,519 to €132,026
- Gross operating margin +€39,266
up €39,266 (+36.1%), from €108,731 to €147,997
- Depreciation +€8,553
up €8,553 (+22.0%), from €38,888 to €47,441
- Financial charges -€3,740
down €3,740 (-23.2%), from €16,094 to €12,354
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 | €973,340 | €1,021,810 | +€48,470 | +5.0% |
| Fixed assets | 21/28 | €904,462 | €934,747 | +€30,286 | +3.3% |
| Tangible fixed assets | 22/27 | €904,462 | €934,747 | +€30,286 | +3.3% |
| Land and buildings | 22 | €886,812 | €918,390 | +€31,578 | +3.6% |
| Plant, machinery and equipment | 23 | €1,694 | €1,027 | -€667 | -39.4% |
| Furniture and vehicles | 24 | €15,955 | €15,330 | -€626 | -3.9% |
| Current assets | 29/58 | €68,879 | €87,063 | +€18,185 | +26.4% |
| Amounts receivable within one year | 40/41 | €1,319 | €1,161 | -€158 | -12.0% |
| Other amounts receivable | 41 | €1,319 | €1,161 | -€158 | -12.0% |
| Cash at bank and in hand | 54/58 | €66,134 | €84,148 | +€18,014 | +27.2% |
| Deferred charges and accrued income | 490/1 | €1,425 | €1,754 | +€329 | +23.0% |
| Total equity and liabilities | 10/49 | €973,340 | €1,021,810 | +€48,470 | +5.0% |
| Equity | 10/15 | €372,377 | €417,812 | +€45,435 | +12.2% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €301,557 | €396,077 | +€94,520 | +31.3% |
| Tax-exempt reserves | 132 | €301,557 | €396,077 | +€94,520 | +31.3% |
| Profit (loss) carried forward | 14 | -€329,180 | -€378,265 | -€49,085 | -14.9% |
| Provisions and deferred taxes | 16 | €100,519 | €132,026 | +€31,507 | +31.3% |
| Deferred taxes | 168 | €100,519 | €132,026 | +€31,507 | +31.3% |
| Amounts payable | 17/49 | €500,444 | €471,973 | -€28,471 | -5.7% |
| Amounts payable after more than one year | 17 | €466,929 | €434,047 | -€32,882 | -7.0% |
| Financial debts | 170/4 | €466,929 | €434,047 | -€32,882 | -7.0% |
| Amounts payable within one year | 42/48 | €33,515 | €37,926 | +€4,411 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €31,974 | €32,882 | +€908 | +2.8% |
| Trade debts | 44 | €875 | €879 | +€4 | +0.5% |
| Suppliers | 440/4 | €875 | €879 | +€4 | +0.5% |
| Taxes, remuneration and social security | 45 | €416 | - | -€416 | |
| Taxes | 450/3 | €416 | - | -€416 | |
| Other amounts payable | 47/48 | €251 | €4,165 | +€3,914 | +1,561% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,888 | €47,441 | +€8,553 | +22.0% |
| Other operating charges | 640/8 | €8,647 | €9,180 | +€534 | +6.2% |
| Non-recurring operating charges | 66A | - | €1,698 | +€1,698 | |
| Gross operating margin | 9900 | €108,731 | €147,997 | +€39,266 | +36.1% |
| Operating profit (loss) | 9901 | €61,196 | €89,678 | +€28,482 | +46.5% |
| Financial income | 75/76B | €4 | €0 | -€3 | -89.5% |
| Recurring financial income | 75 | €4 | €0 | -€3 | -89.5% |
| Financial charges | 65/66B | €16,094 | €12,354 | -€3,740 | -23.2% |
| Recurring financial charges | 65 | €16,094 | €12,354 | -€3,740 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €45,106 | €77,325 | +€32,219 | +71.4% |
| Transfer from deferred taxes | 780 | €3,445 | €5,430 | +€1,985 | +57.6% |
| Transfer to deferred taxes | 680 | €23,878 | €36,937 | +€13,059 | +54.7% |
| Income taxes | 67/77 | €416 | €384 | -€32 | -7.7% |
| Profit (loss) for the period | 9904 | €24,257 | €45,435 | +€21,178 | +87.3% |
| Transfer from tax-exempt reserves | 789 | €10,335 | €16,291 | +€5,956 | +57.6% |
| Transfer to tax-exempt reserves | 689 | €71,635 | €110,810 | +€39,176 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,043 | -€49,085 | -€12,042 | -32.5% |
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 17 October 2026 via checked.be.