ADAL: 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.
ADAL
Largest movements
- Cash -€9,813
down €9,813 (-71.3%), from €13,765 to €3,952
- Debts after one year -€168,177
down €168,177 (-52.4%), from €320,662 to €152,485
- Trade debts +€127,081
up €127,081 (+458.9%), from €27,692 to €154,773
- Short-term financial debts -€104,961
down €104,961 (-100.0%), from €105,000 to €39
- Profit (loss) carried forward +€76,574
up €76,574 (+28.5%), from €268,446 to €345,020
- Provisions +€50,000
new in 2025: €50,000
- Financial income -€272,999
down €272,999 (-100.0%), from €273,000 to €2
- Gross operating margin +€139,503
up €139,503 (+118.7%), from €117,562 to €257,065
- Provisions +€50,000
new in 2025: €50,000
- Taxes +€31,942
up €31,942 (+3629.7%), from €880 to €32,822
- Other operating charges -€29,471
down €29,471 (-73.0%), from €40,385 to €10,914
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €906,376 | €891,095 | -€15,281 | -1.7% |
| Fixed assets | 21/28 | €871,322 | €862,518 | -€8,804 | -1.0% |
| Tangible fixed assets | 22/27 | €22,520 | €13,715 | -€8,805 | -39.1% |
| Plant, machinery and equipment | 23 | €1,425 | €294 | -€1,131 | -79.4% |
| Furniture and vehicles | 24 | €3,094 | €1,559 | -€1,535 | -49.6% |
| Other tangible fixed assets | 26 | €18,001 | €11,862 | -€6,139 | -34.1% |
| Financial fixed assets | 28 | €848,802 | €848,802 | +€0 | 0.0% |
| Current assets | 29/58 | €35,054 | €28,578 | -€6,476 | -18.5% |
| Amounts receivable within one year | 40/41 | €21,289 | €24,475 | +€3,186 | +15.0% |
| Trade receivables | 40 | €21,289 | €24,090 | +€2,801 | +13.2% |
| Other amounts receivable | 41 | - | €385 | +€385 | |
| Cash at bank and in hand | 54/58 | €13,765 | €3,952 | -€9,813 | -71.3% |
| Deferred charges and accrued income | 490/1 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €906,376 | €891,095 | -€15,281 | -1.7% |
| Equity | 10/15 | €290,260 | €366,834 | +€76,574 | +26.4% |
| Contributions | 10/11 | €19,831 | - | -€19,831 | |
| Capital | 10 | €19,831 | - | -€19,831 | |
| Issued capital | 100 | €19,831 | - | -€19,831 | |
| Reserves | 13 | €1,983 | €21,815 | +€19,832 | +1000.1% |
| Non-distributable reserves | 130/1 | €1,983 | - | -€1,983 | |
| Legal reserve | 130 | €1,983 | - | -€1,983 | |
| Distributable reserves | 133 | - | €21,815 | +€21,815 | |
| Profit (loss) carried forward | 14 | €268,446 | €345,020 | +€76,574 | +28.5% |
| Provisions and deferred taxes | 16 | - | €50,000 | +€50,000 | |
| Provisions for liabilities and charges | 160/5 | - | €50,000 | +€50,000 | |
| Other liabilities and charges | 164/5 | - | €50,000 | +€50,000 | |
| Amounts payable | 17/49 | €616,116 | €474,261 | -€141,855 | -23.0% |
| Amounts payable after more than one year | 17 | €320,662 | €152,485 | -€168,177 | -52.4% |
| Financial debts | 170/4 | €320,662 | €152,485 | -€168,177 | -52.4% |
| Amounts payable within one year | 42/48 | €295,454 | €321,776 | +€26,322 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €95,372 | €123,520 | +€28,148 | +29.5% |
| Financial debts | 43 | €105,000 | €39 | -€104,961 | -100.0% |
| Credit institutions | 430/8 | €105,000 | €39 | -€104,961 | -100.0% |
| Trade debts | 44 | €27,692 | €154,773 | +€127,081 | +458.9% |
| Suppliers | 440/4 | €27,692 | €154,773 | +€127,081 | +458.9% |
| Taxes, remuneration and social security | 45 | €8,890 | €14,370 | +€5,480 | +61.6% |
| Taxes | 450/3 | €1,899 | €13,131 | +€11,232 | +591.5% |
| Remuneration and social security | 454/9 | €6,991 | €1,239 | -€5,752 | -82.3% |
| Other amounts payable | 47/48 | €58,500 | €29,074 | -€29,426 | -50.3% |
| Remuneration, social security and pensions | 62 | €43,009 | €46,261 | +€3,252 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,738 | €8,805 | +€4,067 | +85.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,000 | +€50,000 | |
| Other operating charges | 640/8 | €40,385 | €10,914 | -€29,471 | -73.0% |
| Gross operating margin | 9900 | €117,562 | €257,065 | +€139,503 | +118.7% |
| Operating profit (loss) | 9901 | €29,430 | €141,086 | +€111,656 | +379.4% |
| Financial income | 75/76B | €273,000 | €2 | -€272,999 | -100.0% |
| Recurring financial income | 75 | €273,000 | €2 | -€272,999 | -100.0% |
| Financial charges | 65/66B | €23,577 | €31,692 | +€8,115 | +34.4% |
| Recurring financial charges | 65 | €23,577 | €31,692 | +€8,115 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €278,853 | €109,395 | -€169,458 | -60.8% |
| Income taxes | 67/77 | €880 | €32,822 | +€31,942 | +3629.7% |
| Profit (loss) for the period | 9904 | €277,973 | €76,574 | -€201,399 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €277,973 | €76,574 | -€201,399 | -72.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.