AD REM R.M.: 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 REM R.M.
Largest movements
- Receivables within one year -€22,026
down €22,026 (-53.4%), from €41,279 to €19,253
of which Trade receivables: -€19,724
- Cash +€12,957
new in 2025: €12,957
mainly Receivables within one year (+€22,026) and Trade debts (+€11,326)
- Profit (loss) carried forward -€14,127
down €14,127 (-6.7%), from -€210,780 to -€224,907
- Trade debts +€11,326
up €11,326 (+140%), from €8,068 to €19,394
- Other debts -€5,262
down €5,262 (-4.7%), from €111,796 to €106,534
- Short-term financial debts -€4,449
no longer reported in 2025 (was €4,449)
- Tax, wage and social debts +€3,548
up €3,548 (+148%), from €2,396 to €5,944
of which Taxes: +€3,377
- Gross operating margin +€50,331
up €50,331 (+216%), from €23,329 to €73,660
- Staff costs +€9,321
up €9,321 (+16.0%), from €58,363 to €67,684
- Financial charges -€4,670
down €4,670 (-29.1%), from €16,022 to €11,352
- Other operating charges +€3,542
up €3,542 (+81.8%), from €4,328 to €7,870
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 | €250,129 | €241,165 | -€8,964 | -3.6% |
| Fixed assets | 21/28 | €200,436 | €200,436 | = | 0.0% |
| Tangible fixed assets | 22/27 | €200,436 | €200,436 | = | 0.0% |
| Other tangible fixed assets | 26 | €200,436 | €200,436 | = | 0.0% |
| Current assets | 29/58 | €49,693 | €40,729 | -€8,964 | -18.0% |
| Stocks and contracts in progress | 3 | €8,130 | €8,130 | = | 0.0% |
| Stocks | 30/36 | €8,130 | €8,130 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,279 | €19,253 | -€22,026 | -53.4% |
| Trade receivables | 40 | €38,977 | €19,253 | -€19,724 | -50.6% |
| Other amounts receivable | 41 | €2,302 | - | -€2,302 | |
| Cash at bank and in hand | 54/58 | - | €12,957 | +€12,957 | |
| Deferred charges and accrued income | 490/1 | €283 | €388 | +€105 | +37.0% |
| Total equity and liabilities | 10/49 | €250,129 | €241,165 | -€8,964 | -3.6% |
| Equity | 10/15 | -€126,580 | -€140,707 | -€14,127 | -11.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€210,780 | -€224,907 | -€14,127 | -6.7% |
| Amounts payable | 17/49 | €376,709 | €381,872 | +€5,163 | +1.4% |
| Amounts payable within one year | 42/48 | €376,709 | €381,872 | +€5,163 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 43 | €4,449 | - | -€4,449 | |
| Credit institutions | 430/8 | €4,449 | - | -€4,449 | |
| Trade debts | 44 | €8,068 | €19,394 | +€11,326 | +140% |
| Suppliers | 440/4 | €8,068 | €19,394 | +€11,326 | +140% |
| Taxes, remuneration and social security | 45 | €2,396 | €5,944 | +€3,548 | +148% |
| Taxes | 450/3 | €312 | €3,689 | +€3,377 | +1,081% |
| Remuneration and social security | 454/9 | €2,084 | €2,255 | +€171 | +8.2% |
| Other amounts payable | 47/48 | €111,796 | €106,534 | -€5,262 | -4.7% |
| Remuneration, social security and pensions | 62 | €58,363 | €67,684 | +€9,321 | +16.0% |
| Other operating charges | 640/8 | €4,328 | €7,870 | +€3,542 | +81.8% |
| Gross operating margin | 9900 | €23,329 | €73,660 | +€50,331 | +216% |
| Operating profit (loss) | 9901 | -€39,362 | -€1,895 | +€37,468 | +95.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -71.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -71.4% |
| Financial charges | 65/66B | €16,022 | €11,352 | -€4,670 | -29.1% |
| Recurring financial charges | 65 | €16,022 | €11,352 | -€4,670 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | -€55,384 | -€13,246 | +€42,137 | +76.1% |
| Income taxes | 67/77 | €912 | €881 | -€31 | -3.4% |
| Profit (loss) for the period | 9904 | -€56,295 | -€14,127 | +€42,168 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,295 | -€14,127 | +€42,168 | +74.9% |
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 29 October 2026 via checked.be.