ADELY: 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.
ADELY
Largest movements
- Receivables within one year -€43,244
down €43,244 (-29.4%), from €146,863 to €103,619
of which Trade receivables: -€111,175
- Cash -€3,647
down €3,647 (-5.7%), from €64,192 to €60,545
mainly Net result for the year (-€234,533)
- Profit (loss) carried forward -€234,533
down €234,533, from €21,558 to -€212,975
- Trade debts +€177,800
up €177,800 (+117.9%), from €150,825 to €328,624
- Advances received +€7,793
new in 2025: €7,793
- Gross operating margin -€227,162
down €227,162, from €27,285 to -€199,878
- Staff costs +€32,296
new in 2025: €32,296
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 | €233,883 | €185,392 | -€48,491 | -20.7% |
| Fixed assets | 21/28 | €22,829 | €21,229 | -€1,600 | -7.0% |
| Tangible fixed assets | 22/27 | €13,829 | €12,229 | -€1,600 | -11.6% |
| Plant, machinery and equipment | 23 | €13,829 | €12,229 | -€1,600 | -11.6% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €211,055 | €164,164 | -€46,891 | -22.2% |
| Amounts receivable within one year | 40/41 | €146,863 | €103,619 | -€43,244 | -29.4% |
| Trade receivables | 40 | €111,175 | - | -€111,175 | |
| Other amounts receivable | 41 | €35,688 | €103,619 | +€67,931 | +190.3% |
| Cash at bank and in hand | 54/58 | €64,192 | €60,545 | -€3,647 | -5.7% |
| Total equity and liabilities | 10/49 | €233,883 | €185,392 | -€48,491 | -20.7% |
| Equity | 10/15 | €83,058 | -€151,475 | -€234,533 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,558 | -€212,975 | -€234,533 | |
| Amounts payable | 17/49 | €150,825 | €336,867 | +€186,043 | +123.4% |
| Amounts payable within one year | 42/48 | €150,825 | €336,867 | +€186,043 | +123.4% |
| Trade debts | 44 | €150,825 | €328,624 | +€177,800 | +117.9% |
| Suppliers | 440/4 | €150,825 | €328,624 | +€177,800 | +117.9% |
| Advances received on contracts in progress | 46 | - | €7,793 | +€7,793 | |
| Taxes, remuneration and social security | 45 | - | €450 | +€450 | |
| Remuneration and social security | 454/9 | - | €450 | +€450 | |
| Remuneration, social security and pensions | 62 | - | €32,296 | +€32,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,600 | €1,600 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €418 | +€34 | +8.8% |
| Non-recurring operating charges | 66A | €1,500 | - | -€1,500 | |
| Gross operating margin | 9900 | €27,285 | -€199,878 | -€227,162 | |
| Operating profit (loss) | 9901 | €23,800 | -€234,192 | -€257,992 | |
| Financial charges | 65/66B | €193 | €291 | +€98 | +50.6% |
| Recurring financial charges | 65 | €193 | €291 | +€98 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | €23,607 | -€234,483 | -€258,090 | |
| Income taxes | 67/77 | - | €50 | +€50 | |
| Profit (loss) for the period | 9904 | €23,607 | -€234,533 | -€258,140 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,607 | -€234,533 | -€258,140 |
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 7 October 2026 via checked.be.