ADÈLE INVEST: 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.
ADÈLE INVEST
Largest movements
- Cash +€553,010
up €553,010 (+118%), from €470,628 to €1.0m
mainly Other debts (+€622,318) and Trade debts (+€98,007)
- Stocks and contracts +€140,241
up €140,241 (+17.1%), from €820,073 to €960,314
- Other debts +€622,318
up €622,318 (+58.0%), from €1.1m to €1.7m
- Trade debts +€98,007
up €98,007 (+798%), from €12,279 to €110,287
- Tax, wage and social debts -€58,952
down €58,952 (-67.4%), from €87,467 to €28,515
- Reserves +€20,996
up €20,996 (+10.8%), from €193,776 to €214,772
of which Distributable reserves: +€20,996
- Gross operating margin -€81,040
down €81,040 (-67.0%), from €121,034 to €39,994
- Taxes +€1,986
up €1,986 (+28.4%), from €7,000 to €8,986
- Financial income +€1,914
up €1,914 (+1,566%), from €122 to €2,036
- Depreciation +€1,788
up €1,788 (+22.1%), from €8,075 to €9,862
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 | €1,385,873 | €2,068,242 | +€682,369 | +49.2% |
| Fixed assets | 21/28 | €24,094 | €15,057 | -€9,037 | -37.5% |
| Tangible fixed assets | 22/27 | €24,094 | €15,057 | -€9,037 | -37.5% |
| Plant, machinery and equipment | 23 | €3,428 | €994 | -€2,435 | -71.0% |
| Furniture and vehicles | 24 | €20,665 | €14,063 | -€6,602 | -31.9% |
| Current assets | 29/58 | €1,361,779 | €2,053,185 | +€691,406 | +50.8% |
| Stocks and contracts in progress | 3 | €820,073 | €960,314 | +€140,241 | +17.1% |
| Stocks | 30/36 | €820,073 | €960,314 | +€140,241 | +17.1% |
| Amounts receivable within one year | 40/41 | €70,285 | €69,233 | -€1,052 | -1.5% |
| Trade receivables | 40 | €139 | €219 | +€80 | +57.3% |
| Other amounts receivable | 41 | €70,146 | €69,014 | -€1,132 | -1.6% |
| Cash at bank and in hand | 54/58 | €470,628 | €1,023,638 | +€553,010 | +118% |
| Deferred charges and accrued income | 490/1 | €793 | - | -€793 | |
| Total equity and liabilities | 10/49 | €1,385,873 | €2,068,242 | +€682,369 | +49.2% |
| Equity | 10/15 | €212,376 | €233,372 | +€20,996 | +9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €193,776 | €214,772 | +€20,996 | +10.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €191,916 | €212,912 | +€20,996 | +10.9% |
| Amounts payable | 17/49 | €1,173,497 | €1,834,870 | +€661,373 | +56.4% |
| Amounts payable within one year | 42/48 | €1,173,497 | €1,834,870 | +€661,373 | +56.4% |
| Trade debts | 44 | €12,279 | €110,287 | +€98,007 | +798% |
| Suppliers | 440/4 | €12,279 | €110,287 | +€98,007 | +798% |
| Taxes, remuneration and social security | 45 | €87,467 | €28,515 | -€58,952 | -67.4% |
| Taxes | 450/3 | €87,467 | €28,515 | -€58,952 | -67.4% |
| Other amounts payable | 47/48 | €1,073,750 | €1,696,068 | +€622,318 | +58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,075 | €9,862 | +€1,788 | +22.1% |
| Other operating charges | 640/8 | €1,516 | €1,304 | -€212 | -14.0% |
| Gross operating margin | 9900 | €121,034 | €39,994 | -€81,040 | -67.0% |
| Operating profit (loss) | 9901 | €111,444 | €28,828 | -€82,616 | -74.1% |
| Financial income | 75/76B | €122 | €2,036 | +€1,914 | +1,566% |
| Recurring financial income | 75 | €122 | €2,036 | +€1,914 | +1,566% |
| Financial charges | 65/66B | €469 | €882 | +€413 | +87.9% |
| Recurring financial charges | 65 | €469 | €882 | +€413 | +87.9% |
| Profit (loss) for the period before taxes | 9903 | €111,096 | €29,982 | -€81,115 | -73.0% |
| Income taxes | 67/77 | €7,000 | €8,986 | +€1,986 | +28.4% |
| Profit (loss) for the period | 9904 | €104,096 | €20,996 | -€83,100 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €104,096 | €20,996 | -€83,100 | -79.8% |
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 14 October 2026 via checked.be.