ADELI: 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.
ADELI
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€27,122
down €27,122 (-3.3%), from €824,729 to €797,607
of which Land and buildings: -€30,951
- Cash +€27,063
up €27,063 (+62.2%), from €43,482 to €70,545
mainly Current investments (+€100,000) and Depreciation (+€35,539)
- Profit (loss) carried forward -€71,970
down €71,970 (-22.8%), from €315,480 to €243,510
- Debts after one year -€70,934
down €70,934 (-15.9%), from €445,249 to €374,315
- Tax, wage and social debts +€23,982
up €23,982 (+19466.3%), from €123 to €24,106
of which Remuneration and social security: +€23,978
- Gross operating margin -€36,353
down €36,353, from €13,564 to -€22,788
- Financial income +€2,206
up €2,206 (+4634.1%), from €48 to €2,253
- Financial charges -€1,098
down €1,098 (-7.1%), from €15,489 to €14,391
- Other operating charges -€625
down €625 (-31.4%), from €1,994 to €1,368
- Depreciation +€503
up €503 (+1.4%), from €35,037 to €35,539
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 | €1,089,934 | €981,843 | -€108,091 | -9.9% |
| Fixed assets | 21/28 | €824,729 | €797,607 | -€27,122 | -3.3% |
| Tangible fixed assets | 22/27 | €824,729 | €797,607 | -€27,122 | -3.3% |
| Land and buildings | 22 | €812,343 | €781,391 | -€30,951 | -3.8% |
| Furniture and vehicles | 24 | €4,577 | €2,923 | -€1,655 | -36.2% |
| Other tangible fixed assets | 26 | €7,809 | €13,293 | +€5,484 | +70.2% |
| Current assets | 29/58 | €265,205 | €184,236 | -€80,968 | -30.5% |
| Stocks and contracts in progress | 3 | €100,000 | €100,000 | = | 0.0% |
| Stocks | 30/36 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,722 | €13,691 | -€8,031 | -37.0% |
| Trade receivables | 40 | €7,535 | €6,179 | -€1,357 | -18.0% |
| Other amounts receivable | 41 | €14,187 | €7,513 | -€6,674 | -47.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €43,482 | €70,545 | +€27,063 | +62.2% |
| Total equity and liabilities | 10/49 | €1,089,934 | €981,843 | -€108,091 | -9.9% |
| Equity | 10/15 | €430,180 | €358,210 | -€71,970 | -16.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €108,500 | €108,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,500 | €108,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,480 | €243,510 | -€71,970 | -22.8% |
| Amounts payable | 17/49 | €659,753 | €623,633 | -€36,121 | -5.5% |
| Amounts payable after more than one year | 17 | €445,249 | €374,315 | -€70,934 | -15.9% |
| Financial debts | 170/4 | €445,249 | €374,315 | -€70,934 | -15.9% |
| Amounts payable within one year | 42/48 | €214,504 | €249,318 | +€34,813 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €70,891 | €71,393 | +€502 | +0.7% |
| Trade debts | 44 | €22,755 | €25,486 | +€2,731 | +12.0% |
| Suppliers | 440/4 | €22,755 | €25,486 | +€2,731 | +12.0% |
| Taxes, remuneration and social security | 45 | €123 | €24,106 | +€23,982 | +19466.3% |
| Taxes | 450/3 | €123 | €128 | +€5 | +3.9% |
| Remuneration and social security | 454/9 | - | €23,978 | +€23,978 | |
| Other amounts payable | 47/48 | €120,735 | €128,333 | +€7,598 | +6.3% |
| Non-recurring operating income | 76A | €35,103 | €670 | -€34,433 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,037 | €35,539 | +€503 | +1.4% |
| Other operating charges | 640/8 | €1,994 | €1,368 | -€625 | -31.4% |
| Gross operating margin | 9900 | €13,564 | -€22,788 | -€36,353 | |
| Operating profit (loss) | 9901 | -€23,466 | -€59,696 | -€36,230 | -154.4% |
| Financial income | 75/76B | €48 | €2,253 | +€2,206 | +4634.1% |
| Recurring financial income | 75 | €48 | €2,253 | +€2,206 | +4634.1% |
| Financial charges | 65/66B | €15,489 | €14,391 | -€1,098 | -7.1% |
| Recurring financial charges | 65 | €15,489 | €14,391 | -€1,098 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€38,908 | -€71,834 | -€32,926 | -84.6% |
| Income taxes | 67/77 | €131 | €136 | +€6 | +4.3% |
| Profit (loss) for the period | 9904 | -€39,038 | -€71,970 | -€32,932 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,038 | -€71,970 | -€32,932 | -84.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.