ADAM ARTS: 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 ARTS
Largest movements
- Receivables after one year +€332,439
new in 2025: €332,439
- Cash -€91,675
down €91,675 (-32.0%), from €286,231 to €194,556
mainly Contributions, distributions and other (-€376,039) and Receivables after one year (-€332,439)
- Receivables within one year -€54,306
down €54,306 (-58.3%), from €93,120 to €38,814
of which Other amounts receivable: -€64,313
- Other debts +€376,667
up €376,667, from €0 to €376,667
- Reserves -€240,277
down €240,277 (-69.0%), from €348,047 to €107,770
- Tax, wage and social debts +€49,846
up €49,846 (+193%), from €25,843 to €75,688
- Gross operating margin +€32,036
up €32,036 (+21.7%), from €147,914 to €179,951
- Taxes +€4,341
up €4,341 (+9.5%), from €45,505 to €49,846
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 | €381,177 | €566,466 | +€185,289 | +48.6% |
| Fixed assets | 21/28 | €1,826 | €657 | -€1,169 | -64.0% |
| Tangible fixed assets | 22/27 | €1,826 | €657 | -€1,169 | -64.0% |
| Plant, machinery and equipment | 23 | €1,826 | €657 | -€1,169 | -64.0% |
| Current assets | 29/58 | €379,351 | €565,809 | +€186,458 | +49.2% |
| Amounts receivable after more than one year | 29 | - | €332,439 | +€332,439 | |
| Other amounts receivable | 291 | - | €332,439 | +€332,439 | |
| Amounts receivable within one year | 40/41 | €93,120 | €38,814 | -€54,306 | -58.3% |
| Trade receivables | 40 | €24,654 | €34,661 | +€10,007 | +40.6% |
| Other amounts receivable | 41 | €68,466 | €4,153 | -€64,313 | -93.9% |
| Cash at bank and in hand | 54/58 | €286,231 | €194,556 | -€91,675 | -32.0% |
| Total equity and liabilities | 10/49 | €381,177 | €566,466 | +€185,289 | +48.6% |
| Equity | 10/15 | €351,547 | €111,270 | -€240,277 | -68.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €348,047 | €107,770 | -€240,277 | -69.0% |
| Distributable reserves | 133 | €348,047 | €107,770 | -€240,277 | -69.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,630 | €455,196 | +€425,565 | +1,436% |
| Amounts payable within one year | 42/48 | €27,771 | €453,337 | +€425,565 | +1,532% |
| Trade debts | 44 | €1,929 | €981 | -€947 | -49.1% |
| Suppliers | 440/4 | €1,929 | €981 | -€947 | -49.1% |
| Taxes, remuneration and social security | 45 | €25,843 | €75,688 | +€49,846 | +193% |
| Taxes | 450/3 | €25,843 | €75,688 | +€49,846 | +193% |
| Other amounts payable | 47/48 | €0 | €376,667 | +€376,667 | |
| Accrued charges and deferred income | 492/3 | €1,859 | €1,859 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,169 | €1,169 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €147,914 | €179,951 | +€32,036 | +21.7% |
| Operating profit (loss) | 9901 | €146,358 | €178,382 | +€32,024 | +21.9% |
| Financial income | 75/76B | €8,945 | €8,403 | -€542 | -6.1% |
| Recurring financial income | 75 | €8,945 | €8,403 | -€542 | -6.1% |
| Financial charges | 65/66B | €2,027 | €1,177 | -€851 | -42.0% |
| Recurring financial charges | 65 | €2,027 | €1,177 | -€851 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €153,275 | €185,608 | +€32,333 | +21.1% |
| Income taxes | 67/77 | €45,505 | €49,846 | +€4,341 | +9.5% |
| Profit (loss) for the period | 9904 | €107,770 | €135,762 | +€27,992 | +26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €107,770 | €135,762 | +€27,992 | +26.0% |
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 28 October 2026 via checked.be.