ADARN: what changed
Two fiscal 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.
ADARN
Largest movements
- Receivables within one year -€29,296
down €29,296 (-69.2%), from €42,351 to €13,054
of which Trade receivables: -€17,475
- Cash +€21,302
up €21,302 (+184.4%), from €11,551 to €32,853
mainly Receivables within one year (+€29,296) and Stocks and contracts (+€12,451)
- Tangible fixed assets -€14,160
no longer reported in 2025 (was €14,160)
of which Plant, machinery and equipment: -€11,427
- Stocks and contracts -€12,451
no longer reported in 2025 (was €12,451)
- Profit (loss) carried forward -€27,023
down €27,023 (-39.7%), from €68,024 to €41,000
- Trade debts -€3,648
down €3,648 (-51.9%), from €7,035 to €3,386
- Advances received -€3,000
no longer reported in 2025 (was €3,000)
- Current portion of long-term debt -€2,050
no longer reported in 2025 (was €2,050)
- Purchases and services -€269,226
no longer reported in 2025 (was €269,226)
- Gross operating margin -€27,289
down €27,289 (-82.1%), from €33,219 to €5,930
- Taxes +€4,634
up €4,634 (+66.4%), from €6,979 to €11,613
- Staff costs -€3,790
down €3,790 (-91.1%), from €4,162 to €372
- Other operating charges -€3,077
down €3,077 (-52.2%), from €5,892 to €2,815
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.
Cash bridge derived
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 | €81,051 | €45,908 | -€35,143 | -43.4% |
| Fixed assets | 21/28 | €14,160 | - | -€14,160 | |
| Tangible fixed assets | 22/27 | €14,160 | - | -€14,160 | |
| Plant, machinery and equipment | 23 | €11,427 | - | -€11,427 | |
| Other tangible fixed assets | 26 | €2,733 | - | -€2,733 | |
| Current assets | 29/58 | €66,891 | €45,908 | -€20,984 | -31.4% |
| Stocks and contracts in progress | 3 | €12,451 | - | -€12,451 | |
| Stocks | 30/36 | €12,451 | - | -€12,451 | |
| Amounts receivable within one year | 40/41 | €42,351 | €13,054 | -€29,296 | -69.2% |
| Trade receivables | 40 | €30,529 | €13,054 | -€17,475 | -57.2% |
| Other amounts receivable | 41 | €11,821 | - | -€11,821 | |
| Cash at bank and in hand | 54/58 | €11,551 | €32,853 | +€21,302 | +184.4% |
| Deferred charges and accrued income | 490/1 | €539 | - | -€539 | |
| Total equity and liabilities | 10/49 | €81,051 | €45,908 | -€35,143 | -43.4% |
| Equity | 10/15 | €68,124 | €41,100 | -€27,023 | -39.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,024 | €41,000 | -€27,023 | -39.7% |
| Amounts payable | 17/49 | €12,927 | €4,807 | -€8,120 | -62.8% |
| Amounts payable within one year | 42/48 | €12,927 | €4,807 | -€8,120 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €2,050 | - | -€2,050 | |
| Trade debts | 44 | €7,035 | €3,386 | -€3,648 | -51.9% |
| Suppliers | 440/4 | €7,035 | €3,386 | -€3,648 | -51.9% |
| Advances received on contracts in progress | 46 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €711 | €1,421 | +€710 | +99.9% |
| Taxes | 450/3 | €711 | €1,421 | +€710 | +99.9% |
| Other amounts payable | 47/48 | €132 | - | -€132 | |
| Goods, raw materials, services and sundry goods | 60/61 | €269,226 | - | -€269,226 | |
| Remuneration, social security and pensions | 62 | €4,162 | €372 | -€3,790 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,892 | €3,667 | -€1,225 | -25.0% |
| Other operating charges | 640/8 | €5,892 | €2,815 | -€3,077 | -52.2% |
| Non-recurring operating charges | 66A | - | €10,493 | +€10,493 | |
| Gross operating margin | 9900 | €33,219 | €5,930 | -€27,289 | -82.1% |
| Operating profit (loss) | 9901 | €18,273 | -€11,417 | -€29,690 | |
| Financial income | 75/76B | €1 | €102 | +€100 | +8507.6% |
| Recurring financial income | 75 | €1 | €102 | +€100 | +8507.6% |
| Financial charges | 65/66B | €2,239 | €4,095 | +€1,857 | +83.0% |
| Recurring financial charges | 65 | €2,239 | €3,969 | +€1,731 | +77.3% |
| Non-recurring financial charges | 66B | - | €126 | +€126 | |
| Profit (loss) for the period before taxes | 9903 | €16,036 | -€15,411 | -€31,446 | |
| Income taxes | 67/77 | €6,979 | €11,613 | +€4,634 | +66.4% |
| Profit (loss) for the period | 9904 | €9,056 | -€27,023 | -€36,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,056 | -€27,023 | -€36,080 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.