ADANOR: 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.
ADANOR
Largest movements
- Financial fixed assets +€465,000
new in 2025: €465,000
- Cash +€173,370
up €173,370 (+1,275%), from €13,602 to €186,972
mainly Contributions, distributions and other (+€245,000) and Other debts (+€226,996)
- Contributions +€245,000
up €245,000 (+12,250%), from €2,000 to €247,000
- Other debts +€226,996
up €226,996 (+63,881%), from €355 to €227,352
- Reserves +€94,351
up €94,351 (+624%), from €15,129 to €109,480
- Tax, wage and social debts +€67,749
new in 2025: €67,749
- Gross operating margin +€141,202
up €141,202, from -€1,478 to €139,724
- Taxes +€37,382
new in 2025: €37,382
- Financial charges +€2,929
up €2,929 (+7,321%), from €40 to €2,969
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 | €13,937 | €652,221 | +€638,285 | +4,580% |
| Fixed assets | 21/28 | - | €465,000 | +€465,000 | |
| Financial fixed assets | 28 | - | €465,000 | +€465,000 | |
| Current assets | 29/58 | €13,937 | €187,221 | +€173,285 | +1,243% |
| Amounts receivable within one year | 40/41 | €335 | €249 | -€86 | -25.6% |
| Trade receivables | 40 | €280 | €249 | -€31 | -11.1% |
| Other amounts receivable | 41 | €55 | €0 | -€55 | -100% |
| Cash at bank and in hand | 54/58 | €13,602 | €186,972 | +€173,370 | +1,275% |
| Total equity and liabilities | 10/49 | €13,937 | €652,221 | +€638,285 | +4,580% |
| Equity | 10/15 | €13,243 | €356,480 | +€343,238 | +2,592% |
| Contributions | 10/11 | €2,000 | €247,000 | +€245,000 | +12,250% |
| Reserves | 13 | €15,129 | €109,480 | +€94,351 | +624% |
| Distributable reserves | 133 | €15,129 | €109,480 | +€94,351 | +624% |
| Profit (loss) carried forward | 14 | -€3,887 | €0 | +€3,887 | |
| Amounts payable | 17/49 | €694 | €295,741 | +€295,047 | +42,505% |
| Amounts payable within one year | 42/48 | €694 | €295,741 | +€295,047 | +42,505% |
| Trade debts | 44 | €339 | €640 | +€302 | +89.0% |
| Suppliers | 440/4 | €339 | €640 | +€302 | +89.0% |
| Taxes, remuneration and social security | 45 | - | €67,749 | +€67,749 | |
| Taxes | 450/3 | - | €67,749 | +€67,749 | |
| Other amounts payable | 47/48 | €355 | €227,352 | +€226,996 | +63,881% |
| Other operating charges | 640/8 | €40 | €1,136 | +€1,096 | +2,739% |
| Gross operating margin | 9900 | -€1,478 | €139,724 | +€141,202 | |
| Operating profit (loss) | 9901 | -€1,518 | €138,588 | +€140,106 | |
| Financial charges | 65/66B | €40 | €2,969 | +€2,929 | +7,321% |
| Recurring financial charges | 65 | €40 | €2,969 | +€2,929 | +7,321% |
| Profit (loss) for the period before taxes | 9903 | -€1,558 | €135,619 | +€137,177 | |
| Income taxes | 67/77 | - | €37,382 | +€37,382 | |
| Profit (loss) for the period | 9904 | -€1,558 | €98,238 | +€99,795 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,558 | €98,238 | +€99,795 |
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 16 October 2026 via checked.be.