ADAMS: what changed
Two fiscal 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.
ADAMS
Largest movements
- Cash +€63,124
up €63,124 (+16.8%), from €376,530 to €439,654
mainly Net result for the year (+€60,698) and Trade debts (+€13,679)
- Receivables within one year +€19,461
up €19,461 (+123.6%), from €15,750 to €35,211
of which Other amounts receivable: +€18,944
- Stocks and contracts -€12,842
down €12,842 (-4.0%), from €324,442 to €311,599
- Reserves +€60,698
up €60,698 (+7.8%), from €774,058 to €834,756
of which Distributable reserves: +€60,698
- Trade debts +€13,679
up €13,679 (+18.6%), from €73,725 to €87,405
- Tax, wage and social debts -€10,696
no longer reported in 2025 (was €10,696)
- Gross operating margin -€80,094
down €80,094 (-45.4%), from €176,345 to €96,251
- Taxes -€25,063
down €25,063 (-51.8%), from €48,354 to €23,291
- Financial charges +€18,952
up €18,952, from -€13,694 to €5,259
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.
Cash bridge derived
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 | €948,548 | €1,018,032 | +€69,484 | +7.3% |
| Fixed assets | 21/28 | €30,933 | €31,998 | +€1,065 | +3.4% |
| Tangible fixed assets | 22/27 | €30,933 | €31,998 | +€1,065 | +3.4% |
| Land and buildings | 22 | €2,016 | €1,358 | -€659 | -32.7% |
| Plant, machinery and equipment | 23 | €28,454 | €30,640 | +€2,187 | +7.7% |
| Furniture and vehicles | 24 | €464 | - | -€464 | |
| Current assets | 29/58 | €917,615 | €986,034 | +€68,419 | +7.5% |
| Stocks and contracts in progress | 3 | €324,442 | €311,599 | -€12,842 | -4.0% |
| Stocks | 30/36 | €324,442 | €311,599 | -€12,842 | -4.0% |
| Amounts receivable within one year | 40/41 | €15,750 | €35,211 | +€19,461 | +123.6% |
| Trade receivables | 40 | €15,540 | €16,057 | +€517 | +3.3% |
| Other amounts receivable | 41 | €210 | €19,154 | +€18,944 | +9012.8% |
| Current investments | 50/53 | €197,814 | €196,394 | -€1,420 | -0.7% |
| Cash at bank and in hand | 54/58 | €376,530 | €439,654 | +€63,124 | +16.8% |
| Deferred charges and accrued income | 490/1 | €3,080 | €3,175 | +€95 | +3.1% |
| Total equity and liabilities | 10/49 | €948,548 | €1,018,032 | +€69,484 | +7.3% |
| Equity | 10/15 | €811,558 | €872,256 | +€60,698 | +7.5% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €774,058 | €834,756 | +€60,698 | +7.8% |
| Tax-exempt reserves | 132 | €51,433 | €51,433 | = | 0.0% |
| Distributable reserves | 133 | €722,625 | €783,323 | +€60,698 | +8.4% |
| Amounts payable | 17/49 | €136,990 | €145,776 | +€8,786 | +6.4% |
| Amounts payable within one year | 42/48 | €133,490 | €145,776 | +€12,286 | +9.2% |
| Trade debts | 44 | €73,725 | €87,405 | +€13,679 | +18.6% |
| Suppliers | 440/4 | €73,725 | €87,405 | +€13,679 | +18.6% |
| Taxes, remuneration and social security | 45 | €10,696 | - | -€10,696 | |
| Taxes | 450/3 | €10,696 | - | -€10,696 | |
| Other amounts payable | 47/48 | €49,069 | €58,371 | +€9,302 | +19.0% |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,274 | €8,762 | -€1,512 | -14.7% |
| Other operating charges | 640/8 | €3,455 | €2,295 | -€1,160 | -33.6% |
| Gross operating margin | 9900 | €176,345 | €96,251 | -€80,094 | -45.4% |
| Operating profit (loss) | 9901 | €162,616 | €85,194 | -€77,422 | -47.6% |
| Financial income | 75/76B | €2,467 | €4,054 | +€1,587 | +64.4% |
| Recurring financial income | 75 | €2,467 | €4,054 | +€1,587 | +64.4% |
| Financial charges | 65/66B | -€13,694 | €5,259 | +€18,952 | |
| Recurring financial charges | 65 | -€13,694 | €5,259 | +€18,952 | |
| Profit (loss) for the period before taxes | 9903 | €178,776 | €83,989 | -€94,787 | -53.0% |
| Income taxes | 67/77 | €48,354 | €23,291 | -€25,063 | -51.8% |
| Profit (loss) for the period | 9904 | €130,423 | €60,698 | -€69,725 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €130,423 | €60,698 | -€69,725 | -53.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.