ADELIN: 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.
ADELIN
Largest movements
- Receivables within one year +€42,019
up €42,019 (+370.6%), from €11,339 to €53,358
of which Trade receivables: +€40,837
- Deferred charges and accrued income +€13,908
up €13,908 (+3983.0%), from €349 to €14,257
- Trade debts +€28,317
up €28,317 (+119.6%), from €23,679 to €51,996
- Tax, wage and social debts +€14,353
up €14,353 (+101.0%), from €14,215 to €28,568
of which Taxes: +€20,583
- Profit (loss) carried forward +€12,026
up €12,026 (+63.8%), from -€18,838 to -€6,812
- Gross operating margin +€32,948
up €32,948 (+126.3%), from €26,076 to €59,024
- Depreciation -€2,384
down €2,384 (-78.7%), from €3,031 to €647
- Staff costs +€2,369
up €2,369 (+6.0%), from €39,188 to €41,557
- Other operating charges -€1,164
down €1,164 (-32.0%), from €3,635 to €2,471
- Financial charges +€1,053
up €1,053 (+74.2%), from €1,419 to €2,472
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 | €37,648 | €92,884 | +€55,236 | +146.7% |
| Fixed assets | 21/28 | €16,284 | €15,637 | -€647 | -4.0% |
| Tangible fixed assets | 22/27 | €5,058 | €4,412 | -€646 | -12.8% |
| Land and buildings | 22 | €826 | €740 | -€86 | -10.4% |
| Plant, machinery and equipment | 23 | €3,259 | €2,895 | -€364 | -11.2% |
| Furniture and vehicles | 24 | €974 | €777 | -€197 | -20.2% |
| Financial fixed assets | 28 | €11,225 | €11,225 | -€0 | 0.0% |
| Current assets | 29/58 | €21,365 | €77,247 | +€55,882 | +261.6% |
| Stocks and contracts in progress | 3 | €5,936 | €5,936 | -€0 | 0.0% |
| Stocks | 30/36 | €5,936 | €5,936 | -€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €11,339 | €53,358 | +€42,019 | +370.6% |
| Trade receivables | 40 | €778 | €41,615 | +€40,837 | +5249.9% |
| Other amounts receivable | 41 | €10,561 | €11,743 | +€1,182 | +11.2% |
| Cash at bank and in hand | 54/58 | €3,740 | €3,696 | -€44 | -1.2% |
| Deferred charges and accrued income | 490/1 | €349 | €14,257 | +€13,908 | +3983.0% |
| Total equity and liabilities | 10/49 | €37,648 | €92,884 | +€55,236 | +146.7% |
| Equity | 10/15 | -€246 | €11,780 | +€12,026 | |
| Contributions | 10/11 | €18,592 | €18,592 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€18,838 | -€6,812 | +€12,026 | +63.8% |
| Amounts payable | 17/49 | €37,895 | €81,104 | +€43,209 | +114.0% |
| Amounts payable within one year | 42/48 | €37,895 | €81,104 | +€43,209 | +114.0% |
| Trade debts | 44 | €23,679 | €51,996 | +€28,317 | +119.6% |
| Suppliers | 440/4 | €23,679 | €51,996 | +€28,317 | +119.6% |
| Taxes, remuneration and social security | 45 | €14,215 | €28,568 | +€14,353 | +101.0% |
| Taxes | 450/3 | €5,544 | €26,127 | +€20,583 | +371.2% |
| Remuneration and social security | 454/9 | €8,671 | €2,441 | -€6,230 | -71.8% |
| Other amounts payable | 47/48 | - | €540 | +€540 | |
| Remuneration, social security and pensions | 62 | €39,188 | €41,557 | +€2,369 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,031 | €647 | -€2,384 | -78.7% |
| Other operating charges | 640/8 | €3,635 | €2,471 | -€1,164 | -32.0% |
| Gross operating margin | 9900 | €26,076 | €59,024 | +€32,948 | +126.3% |
| Operating profit (loss) | 9901 | -€19,778 | €14,349 | +€34,127 | |
| Financial income | 75/76B | €172 | €149 | -€23 | -13.2% |
| Recurring financial income | 75 | €172 | €149 | -€23 | -13.2% |
| Financial charges | 65/66B | €1,419 | €2,472 | +€1,053 | +74.2% |
| Recurring financial charges | 65 | €1,419 | €2,472 | +€1,053 | +74.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,026 | €12,026 | +€33,052 | |
| Income taxes | 67/77 | €822 | - | -€822 | |
| Profit (loss) for the period | 9904 | -€21,848 | €12,026 | +€33,874 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,848 | €12,026 | +€33,874 |
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 2 October 2026 via checked.be.