ADAM LOGISTIC: 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 LOGISTIC
Largest movements
- Receivables within one year -€16,801
down €16,801 (-57.3%), from €29,320 to €12,519
of which Trade receivables: -€12,646
- Tangible fixed assets -€9,499
down €9,499 (-50.0%), from €19,001 to €9,502
- Cash -€2,759
down €2,759 (-18.2%), from €15,128 to €12,369
mainly Net result for the year (-€11,382) and Advances received (-€7,635)
- Profit (loss) carried forward -€11,382
down €11,382 (-42.4%), from €26,820 to €15,438
- Advances received -€7,635
no longer reported in 2025 (was €7,635)
- Debts after one year -€6,437
no longer reported in 2025 (was €6,437)
- Current portion of long-term debt -€2,375
down €2,375 (-29.3%), from €8,118 to €5,743
- Tax, wage and social debts -€644
down €644 (-18.6%), from €3,468 to €2,824
- Gross operating margin -€20,199
down €20,199 (-85.0%), from €23,776 to €3,577
- Taxes +€3,045
up €3,045 (+332%), from €917 to €3,962
- Financial charges -€1,109
down €1,109 (-70.4%), from €1,575 to €467
- Other operating charges +€671
up €671 (+186%), from €360 to €1,031
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 | €63,450 | €34,391 | -€29,059 | -45.8% |
| Fixed assets | 21/28 | €19,001 | €9,502 | -€9,499 | -50.0% |
| Tangible fixed assets | 22/27 | €19,001 | €9,502 | -€9,499 | -50.0% |
| Furniture and vehicles | 24 | €19,001 | €9,502 | -€9,499 | -50.0% |
| Current assets | 29/58 | €44,449 | €24,889 | -€19,560 | -44.0% |
| Amounts receivable within one year | 40/41 | €29,320 | €12,519 | -€16,801 | -57.3% |
| Trade receivables | 40 | €15,087 | €2,441 | -€12,646 | -83.8% |
| Other amounts receivable | 41 | €14,234 | €10,078 | -€4,156 | -29.2% |
| Cash at bank and in hand | 54/58 | €15,128 | €12,369 | -€2,759 | -18.2% |
| Total equity and liabilities | 10/49 | €63,450 | €34,391 | -€29,059 | -45.8% |
| Equity | 10/15 | €36,820 | €25,438 | -€11,382 | -30.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,820 | €15,438 | -€11,382 | -42.4% |
| Amounts payable | 17/49 | €26,630 | €8,953 | -€17,677 | -66.4% |
| Amounts payable after more than one year | 17 | €6,437 | - | -€6,437 | |
| Financial debts | 170/4 | €6,437 | - | -€6,437 | |
| Amounts payable within one year | 42/48 | €20,193 | €8,953 | -€11,240 | -55.7% |
| Current portion of amounts payable after more than one year | 42 | €8,118 | €5,743 | -€2,375 | -29.3% |
| Trade debts | 44 | €971 | €385 | -€586 | -60.3% |
| Suppliers | 440/4 | €971 | €385 | -€586 | -60.3% |
| Advances received on contracts in progress | 46 | €7,635 | - | -€7,635 | |
| Taxes, remuneration and social security | 45 | €3,468 | €2,824 | -€644 | -18.6% |
| Taxes | 450/3 | €3,468 | €2,824 | -€644 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,499 | €9,499 | = | 0.0% |
| Other operating charges | 640/8 | €360 | €1,031 | +€671 | +186% |
| Non-recurring operating charges | 66A | €1,893 | - | -€1,893 | |
| Gross operating margin | 9900 | €23,776 | €3,577 | -€20,199 | -85.0% |
| Operating profit (loss) | 9901 | €12,023 | -€6,953 | -€18,976 | |
| Financial charges | 65/66B | €1,575 | €467 | -€1,109 | -70.4% |
| Recurring financial charges | 65 | €1,575 | €467 | -€1,109 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €10,448 | -€7,420 | -€17,868 | |
| Income taxes | 67/77 | €917 | €3,962 | +€3,045 | +332% |
| Profit (loss) for the period | 9904 | €9,531 | -€11,382 | -€20,913 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,531 | -€11,382 | -€20,913 |
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 13 October 2026 via checked.be.