ADEDE: 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.
ADEDE
Largest movements
- Receivables within one year -€1.6m
down €1.6m (-56.7%), from €2.8m to €1.2m
of which Trade receivables: -€938,105
- Tangible fixed assets -€168,028
down €168,028 (-14.1%), from €1.2m to €1.0m
of which Plant, machinery and equipment: -€105,982
- Reserves -€695,751
down €695,751 (-25.8%), from €2.7m to €2.0m
of which Distributable reserves: -€695,751
- Other debts -€546,190
down €546,190 (-84.3%), from €647,876 to €101,686
- Trade debts -€266,874
down €266,874 (-62.6%), from €426,481 to €159,607
- Advances received -€250,000
no longer reported in 2024 (was €250,000)
- Debts after one year -€92,090
down €92,090 (-24.1%), from €381,636 to €289,547
- Gross operating margin -€1.0m
down €1.0m (-38.3%), from €2.6m to €1.6m
- Write-downs +€302,273
up €302,273 (+1285.0%), from €23,524 to €325,797
- Staff costs +€132,081
up €132,081 (+16.3%), from €810,579 to €942,661
- Other operating charges -€89,071
down €89,071 (-81.1%), from €109,848 to €20,777
- Taxes +€43,945
up €43,945 (+1479.5%), from €2,970 to €46,915
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,668,834 | €2,892,055 | -€1.8m | -38.1% |
| Fixed assets | 21/28 | €1,204,109 | €1,036,082 | -€168,028 | -14.0% |
| Tangible fixed assets | 22/27 | €1,190,729 | €1,022,702 | -€168,028 | -14.1% |
| Land and buildings | 22 | €758,051 | €692,338 | -€65,713 | -8.7% |
| Plant, machinery and equipment | 23 | €342,920 | €236,938 | -€105,982 | -30.9% |
| Furniture and vehicles | 24 | €68,651 | €85,729 | +€17,078 | +24.9% |
| Other tangible fixed assets | 26 | €21,107 | €7,696 | -€13,411 | -63.5% |
| Financial fixed assets | 28 | €13,380 | €13,380 | = | 0.0% |
| Current assets | 29/58 | €3,464,724 | €1,855,973 | -€1.6m | -46.4% |
| Amounts receivable after more than one year | 29 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Other amounts receivable | 291 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €2,827,398 | €1,225,443 | -€1.6m | -56.7% |
| Trade receivables | 40 | €1,370,375 | €432,270 | -€938,105 | -68.5% |
| Other amounts receivable | 41 | €1,457,024 | €793,173 | -€663,851 | -45.6% |
| Cash at bank and in hand | 54/58 | €610,756 | €616,941 | +€6,186 | +1.0% |
| Deferred charges and accrued income | 490/1 | €11,570 | €3,589 | -€7,981 | -69.0% |
| Total equity and liabilities | 10/49 | €4,668,834 | €2,892,055 | -€1.8m | -38.1% |
| Equity | 10/15 | €2,719,761 | €2,024,009 | -€695,751 | -25.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,699,761 | €2,004,009 | -€695,751 | -25.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,697,761 | €2,002,009 | -€695,751 | -25.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,949,073 | €868,046 | -€1.1m | -55.5% |
| Amounts payable after more than one year | 17 | €381,636 | €289,547 | -€92,090 | -24.1% |
| Financial debts | 170/4 | €381,636 | €289,547 | -€92,090 | -24.1% |
| Amounts payable within one year | 42/48 | €1,567,437 | €578,079 | -€989,358 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €101,733 | €92,090 | -€9,643 | -9.5% |
| Trade debts | 44 | €426,481 | €159,607 | -€266,874 | -62.6% |
| Suppliers | 440/4 | €426,481 | €159,607 | -€266,874 | -62.6% |
| Advances received on contracts in progress | 46 | €250,000 | - | -€250,000 | |
| Taxes, remuneration and social security | 45 | €141,348 | €224,697 | +€83,349 | +59.0% |
| Taxes | 450/3 | €23,320 | €59,070 | +€35,750 | +153.3% |
| Remuneration and social security | 454/9 | €118,028 | €165,627 | +€47,599 | +40.3% |
| Other amounts payable | 47/48 | €647,876 | €101,686 | -€546,190 | -84.3% |
| Accrued charges and deferred income | 492/3 | €0 | €421 | +€421 | |
| Non-recurring operating income | 76A | €1,109,395 | €0 | -€1.1m | -100.0% |
| Remuneration, social security and pensions | 62 | €810,579 | €942,661 | +€132,081 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,294 | €225,245 | -€13,049 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,524 | €325,797 | +€302,273 | +1285.0% |
| Other operating charges | 640/8 | €109,848 | €20,777 | -€89,071 | -81.1% |
| Non-recurring operating charges | 66A | €690,574 | €1,240 | -€689,334 | -99.8% |
| Gross operating margin | 9900 | €2,623,197 | €1,618,266 | -€1.0m | -38.3% |
| Operating profit (loss) | 9901 | €750,379 | €102,547 | -€647,832 | -86.3% |
| Financial income | 75/76B | €1,858 | €375 | -€1,483 | -79.8% |
| Recurring financial income | 75 | €1,858 | €375 | -€1,483 | -79.8% |
| Financial charges | 65/66B | €27,294 | €21,981 | -€5,313 | -19.5% |
| Recurring financial charges | 65 | €27,294 | €21,981 | -€5,313 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €724,943 | €80,941 | -€644,003 | -88.8% |
| Income taxes | 67/77 | €2,970 | €46,915 | +€43,945 | +1479.5% |
| Profit (loss) for the period | 9904 | €721,973 | €34,026 | -€687,947 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €721,973 | €34,026 | -€687,947 | -95.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.