ADELINA: 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.
ADELINA
Largest movements
- Cash +€24,825
up €24,825 (+169.1%), from €14,683 to €39,508
mainly Net result for the year (+€14,128) and Other debts (+€9,603)
- Intangible fixed assets -€4,000
down €4,000 (-24.7%), from €16,208 to €12,208
- Deferred charges and accrued income +€2,347
up €2,347 (+235.8%), from €996 to €3,343
- Stocks and contracts +€929
up €929 (+131.2%), from €708 to €1,638
- Profit (loss) carried forward +€14,128
up €14,128, from -€12,281 to €1,847
- Other debts +€9,603
up €9,603 (+29.7%), from €32,335 to €41,938
- Tax, wage and social debts +€2,269
up €2,269 (+73.2%), from €3,101 to €5,369
of which Taxes: +€1,662
- Trade debts -€1,165
down €1,165 (-15.0%), from €7,784 to €6,619
- Debts after one year -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin +€45,100
up €45,100 (+174.2%), from €25,885 to €70,985
- Staff costs +€17,802
up €17,802 (+53.4%), from €33,342 to €51,143
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 | €34,939 | €58,774 | +€23,835 | +68.2% |
| Fixed assets | 21/28 | €18,344 | €14,115 | -€4,229 | -23.1% |
| Intangible fixed assets | 21 | €16,208 | €12,208 | -€4,000 | -24.7% |
| Tangible fixed assets | 22/27 | €2,136 | €1,907 | -€229 | -10.7% |
| Plant, machinery and equipment | 23 | €2,136 | €1,907 | -€229 | -10.7% |
| Current assets | 29/58 | €16,595 | €44,659 | +€28,064 | +169.1% |
| Stocks and contracts in progress | 3 | €708 | €1,638 | +€929 | +131.2% |
| Stocks | 30/36 | €708 | €1,638 | +€929 | +131.2% |
| Amounts receivable within one year | 40/41 | €208 | €170 | -€38 | -18.4% |
| Trade receivables | 40 | - | €170 | +€170 | |
| Other amounts receivable | 41 | €208 | - | -€208 | |
| Cash at bank and in hand | 54/58 | €14,683 | €39,508 | +€24,825 | +169.1% |
| Deferred charges and accrued income | 490/1 | €996 | €3,343 | +€2,347 | +235.8% |
| Total equity and liabilities | 10/49 | €34,939 | €58,774 | +€23,835 | +68.2% |
| Equity | 10/15 | -€9,281 | €4,847 | +€14,128 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,281 | €1,847 | +€14,128 | |
| Amounts payable | 17/49 | €44,220 | €53,927 | +€9,707 | +22.0% |
| Amounts payable after more than one year | 17 | €1,000 | - | -€1,000 | |
| Other amounts payable | 178/9 | €1,000 | - | -€1,000 | |
| Amounts payable within one year | 42/48 | €43,220 | €53,927 | +€10,707 | +24.8% |
| Trade debts | 44 | €7,784 | €6,619 | -€1,165 | -15.0% |
| Suppliers | 440/4 | €7,784 | €6,619 | -€1,165 | -15.0% |
| Taxes, remuneration and social security | 45 | €3,101 | €5,369 | +€2,269 | +73.2% |
| Taxes | 450/3 | - | €1,662 | +€1,662 | |
| Remuneration and social security | 454/9 | €3,101 | €3,708 | +€607 | +19.6% |
| Other amounts payable | 47/48 | €32,335 | €41,938 | +€9,603 | +29.7% |
| Remuneration, social security and pensions | 62 | €33,342 | €51,143 | +€17,802 | +53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,946 | €4,229 | +€283 | +7.2% |
| Other operating charges | 640/8 | €387 | €635 | +€247 | +63.9% |
| Gross operating margin | 9900 | €25,885 | €70,985 | +€45,100 | +174.2% |
| Operating profit (loss) | 9901 | -€11,790 | €14,977 | +€26,768 | |
| Financial income | 75/76B | - | €48 | +€48 | |
| Recurring financial income | 75 | - | €48 | +€48 | |
| Financial charges | 65/66B | €491 | €898 | +€407 | +83.0% |
| Recurring financial charges | 65 | €491 | €898 | +€407 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,281 | €14,128 | +€26,409 | |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€12,281 | €14,128 | +€26,409 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,281 | €14,128 | +€26,409 |
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 9 October 2026 via checked.be.