ADAM-ALEXANDER: 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.
ADAM-ALEXANDER
Largest movements
- Receivables within one year -€52,543
down €52,543 (-100%), from €52,543 to €0
of which Trade receivables: -€52,376
- Intangible fixed assets -€1,850
down €1,850 (-12.2%), from €15,108 to €13,258
- Profit (loss) carried forward -€58,895
down €58,895 (-186%), from -€31,693 to -€90,588
- Other debts +€7,063
up €7,063 (+12.9%), from €54,571 to €61,634
- Tax, wage and social debts -€2,509
down €2,509 (-100%), from €2,509 to €0
- Write-downs +€52,376
new in 2025: €52,376
- Other operating charges -€2,641
down €2,641 (-100%), from €2,641 to €0
- Gross operating margin -€2,297
down €2,297 (-99.2%), from -€2,315 to -€4,611
- Financial charges -€158
down €158 (-73.0%), from €217 to €59
- Depreciation -€53
down €53 (-2.8%), from €1,902 to €1,850
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 | €68,074 | €13,312 | -€54,762 | -80.4% |
| Fixed assets | 21/28 | €15,108 | €13,258 | -€1,850 | -12.2% |
| Intangible fixed assets | 21 | €15,108 | €13,258 | -€1,850 | -12.2% |
| Current assets | 29/58 | €52,966 | €54 | -€52,912 | -99.9% |
| Amounts receivable within one year | 40/41 | €52,543 | €0 | -€52,543 | -100% |
| Trade receivables | 40 | €52,376 | €0 | -€52,376 | -100% |
| Other amounts receivable | 41 | €167 | €0 | -€167 | -100% |
| Cash at bank and in hand | 54/58 | €423 | €54 | -€369 | -87.2% |
| Total equity and liabilities | 10/49 | €68,074 | €13,312 | -€54,762 | -80.4% |
| Equity | 10/15 | €10,574 | -€48,322 | -€58,895 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,066 | €36,066 | = | 0.0% |
| Distributable reserves | 133 | €36,066 | €36,066 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,693 | -€90,588 | -€58,895 | -186% |
| Amounts payable | 17/49 | €57,500 | €61,634 | +€4,134 | +7.2% |
| Amounts payable within one year | 42/48 | €57,500 | €61,634 | +€4,134 | +7.2% |
| Trade debts | 44 | €420 | €0 | -€420 | -100% |
| Suppliers | 440/4 | €420 | €0 | -€420 | -100% |
| Taxes, remuneration and social security | 45 | €2,509 | €0 | -€2,509 | -100% |
| Taxes | 450/3 | €2,509 | €0 | -€2,509 | -100% |
| Other amounts payable | 47/48 | €54,571 | €61,634 | +€7,063 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,902 | €1,850 | -€53 | -2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €52,376 | +€52,376 | |
| Other operating charges | 640/8 | €2,641 | €0 | -€2,641 | -100% |
| Gross operating margin | 9900 | -€2,315 | -€4,611 | -€2,297 | -99.2% |
| Operating profit (loss) | 9901 | -€6,858 | -€58,837 | -€51,979 | -758% |
| Financial charges | 65/66B | €217 | €59 | -€158 | -73.0% |
| Recurring financial charges | 65 | €217 | €59 | -€158 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,075 | -€58,895 | -€51,821 | -732% |
| Profit (loss) for the period | 9904 | -€7,075 | -€58,895 | -€51,821 | -732% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,075 | -€58,895 | -€51,821 | -732% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.