AD'ELLE: 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.
AD'ELLE
Largest movements
- Current investments -€166,181
down €166,181 (-100%), from €166,181 to €0
- Cash +€71,576
up €71,576 (+34.8%), from €205,789 to €277,366
mainly Current investments (+€166,181) and Net result for the year (+€2,933)
- Receivables within one year +€6,459
up €6,459 (+20.6%), from €31,333 to €37,792
of which Trade receivables: +€6,481
- Tax, wage and social debts -€77,847
down €77,847 (-70.4%), from €110,629 to €32,782
of which Taxes: -€75,620
- Profit (loss) carried forward -€10,000
down €10,000 (-10.1%), from €99,079 to €89,079
- Gross operating margin +€16,572
up €16,572 (+28.5%), from €58,189 to €74,761
- Taxes -€9,508
down €9,508 (-33.4%), from €28,482 to €18,973
- Financial income +€3,020
up €3,020 (+66.9%), from €4,516 to €7,536
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €409,108 | €319,923 | -€89,185 | -21.8% |
| Fixed assets | 21/28 | €4,906 | €3,512 | -€1,394 | -28.4% |
| Tangible fixed assets | 22/27 | €4,906 | €3,512 | -€1,394 | -28.4% |
| Furniture and vehicles | 24 | €4,906 | €3,512 | -€1,394 | -28.4% |
| Current assets | 29/58 | €404,202 | €316,411 | -€87,791 | -21.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €31,333 | €37,792 | +€6,459 | +20.6% |
| Trade receivables | 40 | €31,223 | €37,704 | +€6,481 | +20.8% |
| Other amounts receivable | 41 | €110 | €89 | -€22 | -19.9% |
| Current investments | 50/53 | €166,181 | €0 | -€166,181 | -100% |
| Cash at bank and in hand | 54/58 | €205,789 | €277,366 | +€71,576 | +34.8% |
| Deferred charges and accrued income | 490/1 | €898 | €1,253 | +€355 | +39.5% |
| Total equity and liabilities | 10/49 | €409,108 | €319,923 | -€89,185 | -21.8% |
| Equity | 10/15 | €280,677 | €273,610 | -€7,067 | -2.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €163,048 | €165,980 | +€2,933 | +1.8% |
| Distributable reserves | 133 | €163,048 | €165,980 | +€2,933 | +1.8% |
| Profit (loss) carried forward | 14 | €99,079 | €89,079 | -€10,000 | -10.1% |
| Amounts payable | 17/49 | €128,431 | €46,314 | -€82,117 | -63.9% |
| Amounts payable within one year | 42/48 | €124,865 | €42,050 | -€82,815 | -66.3% |
| Trade debts | 44 | €3,975 | €2,773 | -€1,203 | -30.3% |
| Suppliers | 440/4 | €3,975 | €2,773 | -€1,203 | -30.3% |
| Taxes, remuneration and social security | 45 | €110,629 | €32,782 | -€77,847 | -70.4% |
| Taxes | 450/3 | €108,127 | €32,507 | -€75,620 | -69.9% |
| Remuneration and social security | 454/9 | €2,502 | €275 | -€2,227 | -89.0% |
| Other amounts payable | 47/48 | €10,261 | €6,496 | -€3,765 | -36.7% |
| Accrued charges and deferred income | 492/3 | €3,566 | €4,264 | +€698 | +19.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,050 | €1,394 | +€344 | +32.7% |
| Other operating charges | 640/8 | €1,082 | €1,291 | +€209 | +19.4% |
| Non-recurring operating charges | 66A | - | €57,352 | +€57,352 | |
| Gross operating margin | 9900 | €58,189 | €74,761 | +€16,572 | +28.5% |
| Operating profit (loss) | 9901 | €56,057 | €14,724 | -€41,334 | -73.7% |
| Financial income | 75/76B | €4,516 | €7,536 | +€3,020 | +66.9% |
| Recurring financial income | 75 | €4,516 | €7,536 | +€3,020 | +66.9% |
| Financial charges | 65/66B | €779 | €353 | -€426 | -54.7% |
| Recurring financial charges | 65 | €779 | €353 | -€426 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €59,794 | €21,906 | -€37,888 | -63.4% |
| Income taxes | 67/77 | €28,482 | €18,973 | -€9,508 | -33.4% |
| Profit (loss) for the period | 9904 | €31,313 | €2,933 | -€28,380 | -90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,313 | €2,933 | -€28,380 | -90.6% |
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 15 October 2026 via checked.be.