ADAM PARTENARIAT: 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 PARTENARIAT
Largest movements
- Receivables within one year +€24,207
up €24,207 (+214%), from €11,315 to €35,522
of which Trade receivables: +€21,279
- Tangible fixed assets -€13,085
no longer reported in 2025 (was €13,085)
- Cash +€6,008
up €6,008 (+46.0%), from €13,071 to €19,080
mainly Trade debts (+€14,034) and Net result for the year (+€12,022)
- Trade debts +€14,034
up €14,034 (+259%), from €5,418 to €19,451
- Profit (loss) carried forward +€13,114
up €13,114 (+56.6%), from -€23,154 to -€10,040
- Other debts -€6,331
no longer reported in 2025 (was €6,331)
- Advances received -€2,592
no longer reported in 2025 (was €2,592)
- Tax, wage and social debts -€856
down €856 (-3.3%), from €26,077 to €25,220
of which Remuneration and social security: -€1,954
- Turnover -€70,105
no longer reported in 2025 (was €70,105)
- Purchases and services -€34,090
no longer reported in 2025 (was €34,090)
- Staff costs -€27,959
no longer reported in 2025 (was €27,959)
- Gross operating margin -€17,634
down €17,634 (-49.0%), from €36,014 to €18,380
- Depreciation -€2,294
down €2,294 (-33.4%), from €6,868 to €4,575
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 | €41,167 | €58,535 | +€17,369 | +42.2% |
| Fixed assets | 21/28 | €16,780 | €3,695 | -€13,085 | -78.0% |
| Tangible fixed assets | 22/27 | €13,085 | - | -€13,085 | |
| Furniture and vehicles | 24 | €13,085 | - | -€13,085 | |
| Financial fixed assets | 28 | €3,695 | €3,695 | = | 0.0% |
| Current assets | 29/58 | €24,386 | €54,840 | +€30,454 | +125% |
| Amounts receivable within one year | 40/41 | €11,315 | €35,522 | +€24,207 | +214% |
| Trade receivables | 40 | €11,315 | €32,594 | +€21,279 | +188% |
| Other amounts receivable | 41 | - | €2,928 | +€2,928 | |
| Cash at bank and in hand | 54/58 | €13,071 | €19,080 | +€6,008 | +46.0% |
| Deferred charges and accrued income | 490/1 | - | €239 | +€239 | |
| Total equity and liabilities | 10/49 | €41,167 | €58,535 | +€17,369 | +42.2% |
| Equity | 10/15 | -€4,359 | €8,755 | +€13,114 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €195 | €195 | = | 0.0% |
| Non-distributable reserves | 130/1 | €195 | €195 | = | 0.0% |
| Reserves not available under the articles | 1311 | €195 | €195 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,154 | -€10,040 | +€13,114 | +56.6% |
| Amounts payable | 17/49 | €45,525 | €49,780 | +€4,255 | +9.3% |
| Amounts payable after more than one year | 17 | €5,109 | €5,109 | = | 0.0% |
| Financial debts | 170/4 | €5,109 | €5,109 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,417 | €44,671 | +€4,255 | +10.5% |
| Trade debts | 44 | €5,418 | €19,451 | +€14,034 | +259% |
| Suppliers | 440/4 | €5,418 | €19,451 | +€14,034 | +259% |
| Advances received on contracts in progress | 46 | €2,592 | - | -€2,592 | |
| Taxes, remuneration and social security | 45 | €26,077 | €25,220 | -€856 | -3.3% |
| Taxes | 450/3 | €6,384 | €7,482 | +€1,097 | +17.2% |
| Remuneration and social security | 454/9 | €19,692 | €17,739 | -€1,954 | -9.9% |
| Other amounts payable | 47/48 | €6,331 | - | -€6,331 | |
| Turnover | 70 | €70,105 | - | -€70,105 | |
| Non-recurring operating income | 76A | - | €417 | +€417 | |
| Goods, raw materials, services and sundry goods | 60/61 | €34,090 | - | -€34,090 | |
| Remuneration, social security and pensions | 62 | €27,959 | - | -€27,959 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,868 | €4,575 | -€2,294 | -33.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €783 | - | -€783 | |
| Other operating charges | 640/8 | - | €1,483 | +€1,483 | |
| Non-recurring operating charges | 66A | - | €247 | +€247 | |
| Gross operating margin | 9900 | €36,014 | €18,380 | -€17,634 | -49.0% |
| Operating profit (loss) | 9901 | €404 | €12,076 | +€11,672 | +2,888% |
| Financial charges | 65/66B | €75 | €54 | -€21 | -28.0% |
| Recurring financial charges | 65 | €75 | €54 | -€21 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €329 | €12,022 | +€11,693 | +3,552% |
| Profit (loss) for the period | 9904 | €329 | €12,022 | +€11,693 | +3,552% |
| Profit (loss) for the period to be appropriated | 9905 | €329 | €12,022 | +€11,693 | +3,552% |
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 30 October 2026 via checked.be.