AdaptEM: 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.
AdaptEM
Largest movements
- Deferred charges and accrued income +€22,923
up €22,923 (+38.1%), from €60,136 to €83,059
- Cash +€19,441
up €19,441 (+41.2%), from €47,171 to €66,612
mainly Net result for the year (+€35,171) and Trade debts (+€7,427)
- Receivables within one year +€7,172
up €7,172 (+244%), from €2,942 to €10,114
of which Trade receivables: +€8,817
- Intangible fixed assets -€3,700
down €3,700 (-27.5%), from €13,474 to €9,774
- Profit (loss) carried forward +€35,171
up €35,171 (+34.2%), from €102,960 to €138,131
- Trade debts +€7,427
up €7,427 (+377%), from €1,970 to €9,397
- Tax, wage and social debts +€5,405
up €5,405 (+158%), from €3,425 to €8,831
- Other debts -€2,614
down €2,614 (-28.6%), from €9,144 to €6,529
- Gross operating margin +€29,997
up €29,997 (+155%), from €19,305 to €49,302
- Taxes +€5,983
up €5,983 (+210%), from €2,847 to €8,831
- Financial income -€2,246
down €2,246 (-100%), from €2,246 to €0
- Other operating charges +€584
new in 2025: €584
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 | €124,699 | €170,087 | +€45,389 | +36.4% |
| Fixed assets | 21/28 | €14,450 | €10,302 | -€4,148 | -28.7% |
| Intangible fixed assets | 21 | €13,474 | €9,774 | -€3,700 | -27.5% |
| Tangible fixed assets | 22/27 | €975 | €528 | -€447 | -45.9% |
| Furniture and vehicles | 24 | €975 | €528 | -€447 | -45.9% |
| Current assets | 29/58 | €110,249 | €159,785 | +€49,536 | +44.9% |
| Amounts receivable within one year | 40/41 | €2,942 | €10,114 | +€7,172 | +244% |
| Trade receivables | 40 | €1,183 | €10,000 | +€8,817 | +745% |
| Other amounts receivable | 41 | €1,759 | €114 | -€1,645 | -93.5% |
| Cash at bank and in hand | 54/58 | €47,171 | €66,612 | +€19,441 | +41.2% |
| Deferred charges and accrued income | 490/1 | €60,136 | €83,059 | +€22,923 | +38.1% |
| Total equity and liabilities | 10/49 | €124,699 | €170,087 | +€45,389 | +36.4% |
| Equity | 10/15 | €110,160 | €145,331 | +€35,171 | +31.9% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,960 | €138,131 | +€35,171 | +34.2% |
| Amounts payable | 17/49 | €14,539 | €24,757 | +€10,218 | +70.3% |
| Amounts payable within one year | 42/48 | €14,539 | €24,757 | +€10,218 | +70.3% |
| Trade debts | 44 | €1,970 | €9,397 | +€7,427 | +377% |
| Suppliers | 440/4 | €1,970 | €9,397 | +€7,427 | +377% |
| Taxes, remuneration and social security | 45 | €3,425 | €8,831 | +€5,405 | +158% |
| Taxes | 450/3 | €3,425 | €8,831 | +€5,405 | +158% |
| Other amounts payable | 47/48 | €9,144 | €6,529 | -€2,614 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,048 | €4,148 | +€99 | +2.5% |
| Other operating charges | 640/8 | - | €584 | +€584 | |
| Gross operating margin | 9900 | €19,305 | €49,302 | +€29,997 | +155% |
| Operating profit (loss) | 9901 | €15,257 | €44,571 | +€29,313 | +192% |
| Financial income | 75/76B | €2,246 | €0 | -€2,246 | -100% |
| Recurring financial income | 75 | €2,246 | €0 | -€2,246 | -100% |
| Financial charges | 65/66B | €543 | €569 | +€26 | +4.8% |
| Recurring financial charges | 65 | €543 | €569 | +€26 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €16,960 | €44,002 | +€27,042 | +159% |
| Income taxes | 67/77 | €2,847 | €8,831 | +€5,983 | +210% |
| Profit (loss) for the period | 9904 | €14,113 | €35,171 | +€21,058 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €14,113 | €35,171 | +€21,058 | +149% |
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 17 October 2026 via checked.be.