ADAMS HERMAN: 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.
What changed
ADAMS HERMAN
NACE 01.500, Mixed farming
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€111,332
2024 · €294,987-€183,655
Equity
€3.3m
2024 · €3.2m+€111,332
Cash
€685,458
2024 · €712,700-€27,242
Balance sheet total
€3.6m
2024 · €3.6m+€20,297
Largest movements
Assets
- Current investments +€129,497
up €129,497 (+5.4%), from €2.4m to €2.5m
- Receivables within one year -€63,607
down €63,607 (-27.9%), from €227,983 to €164,376
of which Trade receivables: -€77,559
Equity and liabilities
- Reserves +€111,332
up €111,332 (+3.7%), from €3.0m to €3.1m
of which Distributable reserves: +€384,982
- Trade debts -€105,752
down €105,752 (-47.7%), from €221,498 to €115,747
Income statement
- Gross operating margin -€306,780
down €306,780 (-66.2%), from €463,691 to €156,911
- Financial income +€109,485
up €109,485 (+190%), from €57,763 to €167,248
- Taxes -€53,793
down €53,793 (-37.5%), from €143,383 to €89,590
- Other operating charges +€18,233
up €18,233 (+789%), from €2,312 to €20,545
- Depreciation +€16,298
up €16,298 (+21.8%), from €74,877 to €91,175
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.
Result 2024
€294,987
Gross operating margin
-€306,780
Staff costs
+€650
Depreciation
-€16,298
Other operating charges
-€18,233
Financial income
+€109,485
Financial charges
-€6,273
Taxes
+€53,793
Result 2025
€111,332
raises the resultlowers the result
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.
From operations
+€166,756
Investment
-€193,997
Financing
€0
Cash 2024
€712,700
From operations (derived)
+€166,756
Net result for the year
+€111,332
Depreciation
+€91,175
Receivables after one year
-€8,744
Receivables within one year
+€63,607
Deferred charges and accrued income
+€422
Trade debts
-€105,752
Tax, wage and social debts
+€17,909
Other debts
-€1,339
Accrued charges and deferred income
-€1,853
Investment (derived)
-€193,997
Investment in fixed assets (net)
-€64,500
Current investments
-€129,497
Cash 2025
€685,458
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,566,573 | €3,586,870 | +€20,297 | +0.6% |
| Fixed assets | 21/28 | €222,257 | €195,582 | -€26,675 | -12.0% |
| Tangible fixed assets | 22/27 | €221,017 | €194,342 | -€26,675 | -12.1% |
| Land and buildings | 22 | €27,770 | €24,299 | -€3,471 | -12.5% |
| Plant, machinery and equipment | 23 | €134,330 | €93,184 | -€41,146 | -30.6% |
| Furniture and vehicles | 24 | €58,916 | €76,859 | +€17,943 | +30.5% |
| Financial fixed assets | 28 | €1,240 | €1,240 | = | 0.0% |
| Current assets | 29/58 | €3,344,317 | €3,391,289 | +€46,972 | +1.4% |
| Amounts receivable after more than one year | 29 | €4,372 | €13,116 | +€8,744 | +200% |
| Other amounts receivable | 291 | €4,372 | €13,116 | +€8,744 | +200% |
| Amounts receivable within one year | 40/41 | €227,983 | €164,376 | -€63,607 | -27.9% |
| Trade receivables | 40 | €214,174 | €136,615 | -€77,559 | -36.2% |
| Other amounts receivable | 41 | €13,809 | €27,761 | +€13,952 | +101% |
| Current investments | 50/53 | €2,393,939 | €2,523,436 | +€129,497 | +5.4% |
| Cash at bank and in hand | 54/58 | €712,700 | €685,458 | -€27,242 | -3.8% |
| Deferred charges and accrued income | 490/1 | €5,323 | €4,902 | -€422 | -7.9% |
| Total equity and liabilities | 10/49 | €3,566,573 | €3,586,870 | +€20,297 | +0.6% |
| Equity | 10/15 | €3,196,466 | €3,307,798 | +€111,332 | +3.5% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €2,998,151 | €3,109,483 | +€111,332 | +3.7% |
| Tax-exempt reserves | 132 | €778,850 | €505,200 | -€273,650 | -35.1% |
| Distributable reserves | 133 | €2,219,301 | €2,604,283 | +€384,982 | +17.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €32,729 | €32,729 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €32,729 | €32,729 | = | 0.0% |
| Major repairs and maintenance | 162 | €32,729 | €32,729 | = | 0.0% |
| Amounts payable | 17/49 | €337,379 | €246,344 | -€91,035 | -27.0% |
| Amounts payable within one year | 42/48 | €334,787 | €245,604 | -€89,182 | -26.6% |
| Trade debts | 44 | €221,498 | €115,747 | -€105,752 | -47.7% |
| Suppliers | 440/4 | €221,498 | €115,747 | -€105,752 | -47.7% |
| Taxes, remuneration and social security | 45 | €103,655 | €121,564 | +€17,909 | +17.3% |
| Taxes | 450/3 | €101,055 | €118,964 | +€17,909 | +17.7% |
| Remuneration and social security | 454/9 | €2,600 | €2,600 | = | 0.0% |
| Other amounts payable | 47/48 | €9,633 | €8,294 | -€1,339 | -13.9% |
| Accrued charges and deferred income | 492/3 | €2,592 | €740 | -€1,853 | -71.5% |
| Non-recurring operating income | 76A | €40,323 | €5,000 | -€35,323 | -87.6% |
| Remuneration, social security and pensions | 62 | €761 | €111 | -€650 | -85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,877 | €91,175 | +€16,298 | +21.8% |
| Other operating charges | 640/8 | €2,312 | €20,545 | +€18,233 | +789% |
| Gross operating margin | 9900 | €463,691 | €156,911 | -€306,780 | -66.2% |
| Operating profit (loss) | 9901 | €385,741 | €45,081 | -€340,660 | -88.3% |
| Financial income | 75/76B | €57,763 | €167,248 | +€109,485 | +190% |
| Recurring financial income | 75 | €57,763 | €167,248 | +€109,485 | +190% |
| Financial charges | 65/66B | €5,134 | €11,407 | +€6,273 | +122% |
| Recurring financial charges | 65 | €5,134 | €11,407 | +€6,273 | +122% |
| Profit (loss) for the period before taxes | 9903 | €438,370 | €200,922 | -€237,448 | -54.2% |
| Income taxes | 67/77 | €143,383 | €89,590 | -€53,793 | -37.5% |
| Profit (loss) for the period | 9904 | €294,987 | €111,332 | -€183,655 | -62.3% |
| Transfer from tax-exempt reserves | 789 | - | €273,650 | +€273,650 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €294,987 | €384,982 | +€89,995 | +30.5% |
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 31 October 2026 via checked.be.