ADAE: 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.
ADAE
Largest movements
- Cash -€123,497
down €123,497 (-75.2%), from €164,315 to €40,818
mainly Receivables within one year (-€89,385) and Stocks and contracts (-€83,225)
- Receivables within one year +€89,385
up €89,385 (+681.5%), from €13,117 to €102,502
of which Other amounts receivable: +€101,593
- Stocks and contracts +€83,225
up €83,225 (+49.6%), from €167,699 to €250,924
- Other debts +€83,798
up €83,798 (+18828.4%), from €445 to €84,243
- Trade debts -€59,587
down €59,587 (-83.2%), from €71,599 to €12,012
- Tax, wage and social debts +€11,362
up €11,362 (+179.1%), from €6,344 to €17,706
of which Taxes: +€12,036
- Profit (loss) carried forward +€6,695
up €6,695 (+13.8%), from -€48,427 to -€41,732
- Gross operating margin -€312,413
down €312,413 (-90.9%), from €343,750 to €31,337
- Staff costs -€93,296
down €93,296 (-89.4%), from €104,366 to €11,070
- Other operating charges -€3,971
down €3,971 (-76.6%), from €5,185 to €1,215
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 | €604,510 | €647,779 | +€43,269 | +7.2% |
| Fixed assets | 21/28 | €257,956 | €252,416 | -€5,540 | -2.1% |
| Tangible fixed assets | 22/27 | €114,721 | €109,181 | -€5,540 | -4.8% |
| Land and buildings | 22 | €90,555 | €90,555 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,076 | €6,304 | -€1,772 | -21.9% |
| Furniture and vehicles | 24 | €16,090 | €12,322 | -€3,768 | -23.4% |
| Financial fixed assets | 28 | €143,235 | €143,235 | = | 0.0% |
| Current assets | 29/58 | €346,554 | €395,363 | +€48,809 | +14.1% |
| Stocks and contracts in progress | 3 | €167,699 | €250,924 | +€83,225 | +49.6% |
| Stocks | 30/36 | €167,699 | €250,924 | +€83,225 | +49.6% |
| Amounts receivable within one year | 40/41 | €13,117 | €102,502 | +€89,385 | +681.5% |
| Trade receivables | 40 | €12,291 | €84 | -€12,208 | -99.3% |
| Other amounts receivable | 41 | €825 | €102,418 | +€101,593 | +12309.8% |
| Cash at bank and in hand | 54/58 | €164,315 | €40,818 | -€123,497 | -75.2% |
| Deferred charges and accrued income | 490/1 | €1,424 | €1,118 | -€305 | -21.4% |
| Total equity and liabilities | 10/49 | €604,510 | €647,779 | +€43,269 | +7.2% |
| Equity | 10/15 | €526,123 | €532,818 | +€6,695 | +1.3% |
| Contributions | 10/11 | €574,550 | €574,550 | = | 0.0% |
| Capital | 10 | €574,550 | €574,550 | = | 0.0% |
| Issued capital | 100 | €574,550 | €574,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,427 | -€41,732 | +€6,695 | +13.8% |
| Amounts payable | 17/49 | €78,387 | €114,961 | +€36,573 | +46.7% |
| Amounts payable within one year | 42/48 | €78,387 | €114,961 | +€36,573 | +46.7% |
| Trade debts | 44 | €71,599 | €12,012 | -€59,587 | -83.2% |
| Suppliers | 440/4 | €71,599 | €12,012 | -€59,587 | -83.2% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €6,344 | €17,706 | +€11,362 | +179.1% |
| Taxes | 450/3 | €4,270 | €16,305 | +€12,036 | +281.9% |
| Remuneration and social security | 454/9 | €2,074 | €1,400 | -€674 | -32.5% |
| Other amounts payable | 47/48 | €445 | €84,243 | +€83,798 | +18828.4% |
| Remuneration, social security and pensions | 62 | €104,366 | €11,070 | -€93,296 | -89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,533 | €5,540 | +€2,007 | +56.8% |
| Other operating charges | 640/8 | €5,185 | €1,215 | -€3,971 | -76.6% |
| Gross operating margin | 9900 | €343,750 | €31,337 | -€312,413 | -90.9% |
| Operating profit (loss) | 9901 | €230,666 | €13,513 | -€217,153 | -94.1% |
| Financial income | 75/76B | €186 | €667 | +€480 | +257.5% |
| Recurring financial income | 75 | €186 | €667 | +€480 | +257.5% |
| Financial charges | 65/66B | €8,414 | €7,484 | -€931 | -11.1% |
| Recurring financial charges | 65 | €8,414 | €7,484 | -€931 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €222,438 | €6,695 | -€215,743 | -97.0% |
| Profit (loss) for the period | 9904 | €222,438 | €6,695 | -€215,743 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €222,438 | €6,695 | -€215,743 | -97.0% |
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 12 October 2026 via checked.be.