ADELOé: 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.
ADELOé
Largest movements
- Receivables within one year +€16,890
up €16,890 (+14.2%), from €118,731 to €135,621
of which Trade receivables: +€20,102
- Cash +€7,595
up €7,595 (+123.2%), from €6,164 to €13,760
mainly Other debts (+€117,343) and Advances received (+€14,207)
- Other debts +€117,343
new in 2025: €117,343
- Profit (loss) carried forward -€112,551
no longer reported in 2025 (was €112,551)
- Advances received +€14,207
new in 2025: €14,207
- Tax, wage and social debts +€3,941
up €3,941 (+34.7%), from €11,345 to €15,286
- Gross operating margin -€44,647
down €44,647 (-96.9%), from €46,076 to €1,429
- Taxes -€9,160
down €9,160 (-82.3%), from €11,129 to €1,969
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 | €124,896 | €149,381 | +€24,485 | +19.6% |
| Current assets | 29/58 | €124,896 | €149,381 | +€24,485 | +19.6% |
| Amounts receivable within one year | 40/41 | €118,731 | €135,621 | +€16,890 | +14.2% |
| Trade receivables | 40 | €7,304 | €27,406 | +€20,102 | +275.2% |
| Other amounts receivable | 41 | €111,427 | €108,215 | -€3,213 | -2.9% |
| Cash at bank and in hand | 54/58 | €6,164 | €13,760 | +€7,595 | +123.2% |
| Total equity and liabilities | 10/49 | €124,896 | €149,381 | +€24,485 | +19.6% |
| Equity | 10/15 | €113,551 | €1,000 | -€112,551 | -99.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,551 | - | -€112,551 | |
| Amounts payable | 17/49 | €11,345 | €148,381 | +€137,036 | +1207.9% |
| Amounts payable within one year | 42/48 | €11,345 | €148,381 | +€137,036 | +1207.9% |
| Financial debts | 43 | - | €721 | +€721 | |
| Credit institutions | 430/8 | - | €721 | +€721 | |
| Trade debts | 44 | - | €824 | +€824 | |
| Suppliers | 440/4 | - | €824 | +€824 | |
| Advances received on contracts in progress | 46 | - | €14,207 | +€14,207 | |
| Taxes, remuneration and social security | 45 | €11,345 | €15,286 | +€3,941 | +34.7% |
| Taxes | 450/3 | €11,345 | €15,286 | +€3,941 | +34.7% |
| Other amounts payable | 47/48 | - | €117,343 | +€117,343 | |
| Other operating charges | 640/8 | €403 | €400 | -€4 | -0.9% |
| Gross operating margin | 9900 | €46,076 | €1,429 | -€44,647 | -96.9% |
| Operating profit (loss) | 9901 | €45,673 | €1,030 | -€44,643 | -97.7% |
| Financial income | 75/76B | €5,709 | €5,944 | +€235 | +4.1% |
| Recurring financial income | 75 | €5,709 | €5,944 | +€235 | +4.1% |
| Financial charges | 65/66B | €331 | €212 | -€119 | -36.0% |
| Recurring financial charges | 65 | €331 | €212 | -€119 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €51,050 | €6,761 | -€44,289 | -86.8% |
| Income taxes | 67/77 | €11,129 | €1,969 | -€9,160 | -82.3% |
| Profit (loss) for the period | 9904 | €39,921 | €4,792 | -€35,129 | -88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,921 | €4,792 | -€35,129 | -88.0% |
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 1 October 2026 via checked.be.