AdamZ Construct: 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.
AdamZ Construct
Largest movements
- Tangible fixed assets +€14,308
up €14,308 (+511%), from €2,800 to €17,107
of which Furniture and vehicles: +€13,676
- Cash -€7,173
down €7,173 (-88.8%), from €8,078 to €906
mainly Investment in fixed assets (net) (-€21,598) and Contributions, distributions and other (-€7,000)
- Receivables within one year +€2,094
up €2,094 (+8.2%), from €25,566 to €27,660
of which Other amounts receivable: +€2,670
- Deferred charges and accrued income +€1,334
up €1,334 (+238%), from €561 to €1,895
- Current portion of long-term debt +€5,789
new in 2025: €5,789
- Debts after one year +€5,162
new in 2025: €5,162
- Other debts -€2,129
down €2,129 (-9.5%), from €22,382 to €20,252
- Trade debts +€1,279
up €1,279 (+2,001%), from €64 to €1,342
- Write-downs +€30,601
new in 2025: €30,601
- Gross operating margin +€20,520
up €20,520 (+77.1%), from €26,607 to €47,127
- Depreciation +€6,854
up €6,854 (+1,569%), from €437 to €7,291
- Taxes -€1,764
down €1,764 (-78.8%), from €2,239 to €475
- Financial charges +€1,038
up €1,038 (+1,087%), from €96 to €1,134
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 | €37,005 | €47,568 | +€10,563 | +28.5% |
| Fixed assets | 21/28 | €2,800 | €17,107 | +€14,308 | +511% |
| Tangible fixed assets | 22/27 | €2,800 | €17,107 | +€14,308 | +511% |
| Plant, machinery and equipment | 23 | €1,871 | €2,503 | +€632 | +33.8% |
| Furniture and vehicles | 24 | €929 | €14,604 | +€13,676 | +1,473% |
| Current assets | 29/58 | €34,206 | €30,461 | -€3,745 | -10.9% |
| Amounts receivable within one year | 40/41 | €25,566 | €27,660 | +€2,094 | +8.2% |
| Trade receivables | 40 | €20,180 | €19,604 | -€576 | -2.9% |
| Other amounts receivable | 41 | €5,386 | €8,056 | +€2,670 | +49.6% |
| Cash at bank and in hand | 54/58 | €8,078 | €906 | -€7,173 | -88.8% |
| Deferred charges and accrued income | 490/1 | €561 | €1,895 | +€1,334 | +238% |
| Total equity and liabilities | 10/49 | €37,005 | €47,568 | +€10,563 | +28.5% |
| Equity | 10/15 | €9,760 | €9,857 | +€97 | +1.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,260 | €8,357 | +€97 | +1.2% |
| Amounts payable | 17/49 | €27,245 | €37,711 | +€10,466 | +38.4% |
| Amounts payable after more than one year | 17 | - | €5,162 | +€5,162 | |
| Financial debts | 170/4 | - | €5,162 | +€5,162 | |
| Amounts payable within one year | 42/48 | €27,245 | €32,548 | +€5,304 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,789 | +€5,789 | |
| Trade debts | 44 | €64 | €1,342 | +€1,279 | +2,001% |
| Suppliers | 440/4 | €64 | €1,342 | +€1,279 | +2,001% |
| Taxes, remuneration and social security | 45 | €4,799 | €5,164 | +€365 | +7.6% |
| Taxes | 450/3 | €2,539 | €2,714 | +€175 | +6.9% |
| Remuneration and social security | 454/9 | €2,260 | €2,450 | +€190 | +8.4% |
| Other amounts payable | 47/48 | €22,382 | €20,252 | -€2,129 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437 | €7,291 | +€6,854 | +1,569% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,601 | +€30,601 | |
| Other operating charges | 640/8 | €211 | €310 | +€99 | +47.1% |
| Non-recurring operating charges | 66A | €126 | €220 | +€93 | +73.9% |
| Gross operating margin | 9900 | €26,607 | €47,127 | +€20,520 | +77.1% |
| Operating profit (loss) | 9901 | €25,833 | €8,706 | -€17,127 | -66.3% |
| Financial income | 75/76B | €9 | €0 | -€8 | -94.9% |
| Recurring financial income | 75 | €9 | €0 | -€8 | -94.9% |
| Financial charges | 65/66B | €96 | €1,134 | +€1,038 | +1,087% |
| Recurring financial charges | 65 | €96 | €1,134 | +€1,038 | +1,087% |
| Profit (loss) for the period before taxes | 9903 | €25,747 | €7,572 | -€18,174 | -70.6% |
| Income taxes | 67/77 | €2,239 | €475 | -€1,764 | -78.8% |
| Profit (loss) for the period | 9904 | €23,507 | €7,097 | -€16,410 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,507 | €7,097 | -€16,410 | -69.8% |
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 20 October 2026 via checked.be.