ADAMEX: 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.
ADAMEX
Largest movements
- Cash -€9,684
down €9,684 (-87.9%), from €11,024 to €1,339
mainly Other debts (-€8,345) and Receivables within one year (-€6,624)
- Receivables within one year +€6,624
up €6,624 (+61.7%), from €10,733 to €17,357
of which Trade receivables: +€6,183
- Tangible fixed assets -€689
down €689 (-21.3%), from €3,229 to €2,540
of which Furniture and vehicles: -€1,169
- Other debts -€8,345
down €8,345 (-45.0%), from €18,558 to €10,213
- Tax, wage and social debts +€7,093
new in 2025: €7,093
- Profit (loss) carried forward -€6,470
down €6,470, from €362 to -€6,108
- Trade debts +€3,972
up €3,972 (+65.5%), from €6,066 to €10,038
- Gross operating margin -€4,237
down €4,237, from €2,700 to -€1,537
- Other operating charges +€1,537
up €1,537 (+300%), from €512 to €2,049
- Financial charges +€870
up €870 (+900%), from €97 to €967
- Depreciation +€293
up €293 (+17.0%), from €1,730 to €2,023
- Financial income +€106
new in 2025: €106
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 | €24,986 | €21,236 | -€3,750 | -15.0% |
| Fixed assets | 21/28 | €3,229 | €2,540 | -€689 | -21.3% |
| Tangible fixed assets | 22/27 | €3,229 | €2,540 | -€689 | -21.3% |
| Plant, machinery and equipment | 23 | - | €480 | +€480 | |
| Furniture and vehicles | 24 | €3,229 | €2,060 | -€1,169 | -36.2% |
| Current assets | 29/58 | €21,757 | €18,696 | -€3,061 | -14.1% |
| Amounts receivable within one year | 40/41 | €10,733 | €17,357 | +€6,624 | +61.7% |
| Trade receivables | 40 | €8,599 | €14,782 | +€6,183 | +71.9% |
| Other amounts receivable | 41 | €2,134 | €2,574 | +€440 | +20.6% |
| Cash at bank and in hand | 54/58 | €11,024 | €1,339 | -€9,684 | -87.9% |
| Total equity and liabilities | 10/49 | €24,986 | €21,236 | -€3,750 | -15.0% |
| Equity | 10/15 | €362 | -€6,108 | -€6,470 | |
| Profit (loss) carried forward | 14 | €362 | -€6,108 | -€6,470 | |
| Amounts payable | 17/49 | €24,624 | €27,344 | +€2,720 | +11.0% |
| Amounts payable within one year | 42/48 | €24,624 | €27,344 | +€2,720 | +11.0% |
| Trade debts | 44 | €6,066 | €10,038 | +€3,972 | +65.5% |
| Suppliers | 440/4 | €6,066 | €10,038 | +€3,972 | +65.5% |
| Taxes, remuneration and social security | 45 | - | €7,093 | +€7,093 | |
| Taxes | 450/3 | - | €7,093 | +€7,093 | |
| Other amounts payable | 47/48 | €18,558 | €10,213 | -€8,345 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,730 | €2,023 | +€293 | +17.0% |
| Other operating charges | 640/8 | €512 | €2,049 | +€1,537 | +300% |
| Gross operating margin | 9900 | €2,700 | -€1,537 | -€4,237 | |
| Operating profit (loss) | 9901 | €459 | -€5,609 | -€6,068 | |
| Financial income | 75/76B | - | €106 | +€106 | |
| Recurring financial income | 75 | - | €106 | +€106 | |
| Financial charges | 65/66B | €97 | €967 | +€870 | +900% |
| Recurring financial charges | 65 | €97 | €967 | +€870 | +900% |
| Profit (loss) for the period before taxes | 9903 | €362 | -€6,470 | -€6,832 | |
| Profit (loss) for the period | 9904 | €362 | -€6,470 | -€6,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €362 | -€6,470 | -€6,832 |
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 21 October 2026 via checked.be.