AD REM GROUP: what changed
Two fiscal 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 REM GROUP
Largest movements
- Financial fixed assets +€270,000
new in 2025: €270,000
- Tangible fixed assets +€54,134
up €54,134 (+4.6%), from €1.2m to €1.2m
of which Land and buildings: +€42,622
- Receivables within one year +€48,826
up €48,826 (+183.9%), from €26,554 to €75,380
of which Other amounts receivable: +€27,679
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Other debts +€274,518
new in 2025: €274,518
- Reserves +€48,852
up €48,852 (+12.8%), from €382,084 to €430,936
- Gross operating margin -€39,986
down €39,986 (-15.6%), from €256,383 to €216,397
- Other operating charges +€13,930
up €13,930 (+650.0%), from €2,143 to €16,073
- Taxes -€13,708
down €13,708 (-30.0%), from €45,717 to €32,009
- Depreciation +€12,176
up €12,176 (+14.3%), from €85,022 to €97,198
- Financial charges +€8,105
up €8,105 (+51.1%), from €15,875 to €23,980
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.
Cash bridge derived
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 | €1,273,276 | €1,613,745 | +€340,469 | +26.7% |
| Fixed assets | 21/28 | €1,172,940 | €1,497,074 | +€324,134 | +27.6% |
| Tangible fixed assets | 22/27 | €1,172,940 | €1,227,074 | +€54,134 | +4.6% |
| Land and buildings | 22 | €983,581 | €1,026,203 | +€42,622 | +4.3% |
| Plant, machinery and equipment | 23 | €13,799 | €21,950 | +€8,151 | +59.1% |
| Furniture and vehicles | 24 | €175,560 | €178,921 | +€3,361 | +1.9% |
| Financial fixed assets | 28 | - | €270,000 | +€270,000 | |
| Current assets | 29/58 | €100,336 | €116,671 | +€16,335 | +16.3% |
| Amounts receivable within one year | 40/41 | €26,554 | €75,380 | +€48,826 | +183.9% |
| Trade receivables | 40 | €19,277 | €40,424 | +€21,147 | +109.7% |
| Other amounts receivable | 41 | €7,277 | €34,956 | +€27,679 | +380.4% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €33,782 | €41,291 | +€7,509 | +22.2% |
| Total equity and liabilities | 10/49 | €1,273,276 | €1,613,745 | +€340,469 | +26.7% |
| Equity | 10/15 | €397,584 | €446,436 | +€48,852 | +12.3% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Outside capital | 11 | €9,000 | €9,000 | = | 0.0% |
| Other | 1109/19 | €9,000 | €9,000 | = | 0.0% |
| Reserves | 13 | €382,084 | €430,936 | +€48,852 | +12.8% |
| Distributable reserves | 133 | €382,084 | €430,936 | +€48,852 | +12.8% |
| Profit (loss) carried forward | 14 | €6,500 | €6,500 | = | 0.0% |
| Amounts payable | 17/49 | €875,692 | €1,167,309 | +€291,617 | +33.3% |
| Amounts payable after more than one year | 17 | €771,782 | €774,913 | +€3,131 | +0.4% |
| Financial debts | 170/4 | €771,782 | €772,033 | +€251 | 0.0% |
| Other amounts payable | 178/9 | - | €2,880 | +€2,880 | |
| Amounts payable within one year | 42/48 | €103,910 | €392,396 | +€288,486 | +277.6% |
| Current portion of amounts payable after more than one year | 42 | €84,711 | €96,963 | +€12,252 | +14.5% |
| Trade debts | 44 | €1,912 | €1,789 | -€123 | -6.4% |
| Suppliers | 440/4 | €1,912 | €1,789 | -€123 | -6.4% |
| Taxes, remuneration and social security | 45 | €17,287 | €19,126 | +€1,839 | +10.6% |
| Taxes | 450/3 | €17,287 | €19,126 | +€1,839 | +10.6% |
| Other amounts payable | 47/48 | - | €274,518 | +€274,518 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,022 | €97,198 | +€12,176 | +14.3% |
| Other operating charges | 640/8 | €2,143 | €16,073 | +€13,930 | +650.0% |
| Non-recurring operating charges | 66A | €9,147 | - | -€9,147 | |
| Gross operating margin | 9900 | €256,383 | €216,397 | -€39,986 | -15.6% |
| Operating profit (loss) | 9901 | €160,071 | €103,126 | -€56,945 | -35.6% |
| Financial income | 75/76B | €172 | €1,715 | +€1,543 | +897.1% |
| Recurring financial income | 75 | €172 | €1,715 | +€1,543 | +897.1% |
| Financial charges | 65/66B | €15,875 | €23,980 | +€8,105 | +51.1% |
| Recurring financial charges | 65 | €15,875 | €23,980 | +€8,105 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | €144,368 | €80,861 | -€63,507 | -44.0% |
| Income taxes | 67/77 | €45,717 | €32,009 | -€13,708 | -30.0% |
| Profit (loss) for the period | 9904 | €98,651 | €48,852 | -€49,799 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,651 | €48,852 | -€49,799 | -50.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.