ADAMS PETER: 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.
ADAMS PETER
Largest movements
- Cash -€91,463
down €91,463 (-94.3%), from €96,996 to €5,533
mainly Other debts (-€75,000) and Debts after one year (-€59,342)
- Receivables within one year -€66,647
down €66,647 (-62.1%), from €107,264 to €40,618
of which Trade receivables: -€68,409
- Deferred charges and accrued income +€33,613
up €33,613 (+126%), from €26,647 to €60,260
- Other debts -€75,000
no longer reported in 2025 (was €75,000)
- Debts after one year -€59,342
down €59,342 (-64.1%), from €92,640 to €33,298
- Profit (loss) carried forward +€33,182
up €33,182 (+7.7%), from €430,569 to €463,751
- Current portion of long-term debt -€12,219
down €12,219 (-17.1%), from €71,561 to €59,342
- Gross operating margin +€13,208
up €13,208 (+14.2%), from €93,246 to €106,454
- Taxes +€6,926
up €6,926 (+328%), from €2,111 to €9,037
- Financial income +€6,143
up €6,143 (+536%), from €1,145 to €7,288
- Financial charges -€2,654
down €2,654 (-35.9%), from €7,399 to €4,745
- Depreciation -€1,683
down €1,683 (-3.3%), from €50,399 to €48,716
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 | €938,599 | €823,217 | -€115,382 | -12.3% |
| Fixed assets | 21/28 | €707,690 | €716,806 | +€9,116 | +1.3% |
| Tangible fixed assets | 22/27 | €707,405 | €715,521 | +€8,116 | +1.1% |
| Land and buildings | 22 | €691,934 | €705,447 | +€13,512 | +2.0% |
| Plant, machinery and equipment | 23 | €12,258 | €9,116 | -€3,142 | -25.6% |
| Furniture and vehicles | 24 | €3,213 | €958 | -€2,255 | -70.2% |
| Financial fixed assets | 28 | €285 | €1,285 | +€1,000 | +351% |
| Current assets | 29/58 | €230,908 | €106,411 | -€124,497 | -53.9% |
| Amounts receivable within one year | 40/41 | €107,264 | €40,618 | -€66,647 | -62.1% |
| Trade receivables | 40 | €105,114 | €36,704 | -€68,409 | -65.1% |
| Other amounts receivable | 41 | €2,151 | €3,913 | +€1,763 | +82.0% |
| Cash at bank and in hand | 54/58 | €96,996 | €5,533 | -€91,463 | -94.3% |
| Deferred charges and accrued income | 490/1 | €26,647 | €60,260 | +€33,613 | +126% |
| Total equity and liabilities | 10/49 | €938,599 | €823,217 | -€115,382 | -12.3% |
| Equity | 10/15 | €668,801 | €700,999 | +€32,197 | +4.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €430,569 | €463,751 | +€33,182 | +7.7% |
| Investment grants | 15 | €18,232 | €17,248 | -€985 | -5.4% |
| Amounts payable | 17/49 | €269,797 | €122,218 | -€147,579 | -54.7% |
| Amounts payable after more than one year | 17 | €92,640 | €33,298 | -€59,342 | -64.1% |
| Financial debts | 170/4 | €92,640 | €33,298 | -€59,342 | -64.1% |
| Amounts payable within one year | 42/48 | €175,084 | €88,920 | -€86,164 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | €71,561 | €59,342 | -€12,219 | -17.1% |
| Trade debts | 44 | €26,408 | €29,579 | +€3,171 | +12.0% |
| Suppliers | 440/4 | €26,408 | €29,579 | +€3,171 | +12.0% |
| Taxes, remuneration and social security | 45 | €2,116 | - | -€2,116 | |
| Taxes | 450/3 | €2,116 | - | -€2,116 | |
| Other amounts payable | 47/48 | €75,000 | - | -€75,000 | |
| Accrued charges and deferred income | 492/3 | €2,073 | - | -€2,073 | |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Remuneration, social security and pensions | 62 | -€212 | - | +€212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,399 | €48,716 | -€1,683 | -3.3% |
| Other operating charges | 640/8 | €17,676 | €18,064 | +€388 | +2.2% |
| Gross operating margin | 9900 | €93,246 | €106,454 | +€13,208 | +14.2% |
| Operating profit (loss) | 9901 | €25,384 | €39,675 | +€14,291 | +56.3% |
| Financial income | 75/76B | €1,145 | €7,288 | +€6,143 | +536% |
| Recurring financial income | 75 | €1,145 | €7,288 | +€6,143 | +536% |
| Financial charges | 65/66B | €7,399 | €4,745 | -€2,654 | -35.9% |
| Recurring financial charges | 65 | €7,399 | €4,745 | -€2,654 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €19,130 | €42,218 | +€23,088 | +121% |
| Income taxes | 67/77 | €2,111 | €9,037 | +€6,926 | +328% |
| Profit (loss) for the period | 9904 | €17,019 | €33,182 | +€16,163 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,019 | €33,182 | +€16,163 | +95.0% |
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 18 October 2026 via checked.be.