ADEMAAR: 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.
ADEMAAR
Largest movements
- Cash -€19,910
down €19,910 (-74.7%), from €26,641 to €6,731
mainly Net result for the year (-€16,001) and Other debts (-€7,319)
- Profit (loss) carried forward -€16,001
down €16,001 (-7.0%), from -€228,976 to -€244,977
- Other debts -€7,319
down €7,319 (-2.5%), from €289,399 to €282,080
- Gross operating margin +€10,141
up €10,141 (+1,278%), from €793 to €10,934
- Financial charges +€6,321
up €6,321 (+39.3%), from €16,098 to €22,419
- Other operating charges -€652
down €652 (-25.1%), from €2,598 to €1,945
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.
Derived cash bridge
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 | €534,619 | €515,255 | -€19,365 | -3.6% |
| Fixed assets | 21/28 | €94,538 | €95,050 | +€511 | +0.5% |
| Tangible fixed assets | 22/27 | €2,023 | €2,534 | +€511 | +25.3% |
| Land and buildings | 22 | €970 | - | -€970 | |
| Furniture and vehicles | 24 | €1,053 | €2,534 | +€1,481 | +141% |
| Financial fixed assets | 28 | €92,516 | €92,516 | = | 0.0% |
| Current assets | 29/58 | €440,081 | €420,205 | -€19,876 | -4.5% |
| Stocks and contracts in progress | 3 | €408,981 | €408,981 | = | 0.0% |
| Stocks | 30/36 | €408,981 | €408,981 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,458 | €4,493 | +€34 | +0.8% |
| Trade receivables | 40 | €4,202 | €4,181 | -€22 | -0.5% |
| Other amounts receivable | 41 | €256 | €312 | +€56 | +21.9% |
| Cash at bank and in hand | 54/58 | €26,641 | €6,731 | -€19,910 | -74.7% |
| Total equity and liabilities | 10/49 | €534,619 | €515,255 | -€19,365 | -3.6% |
| Equity | 10/15 | -€168,516 | -€184,517 | -€16,001 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,860 | €41,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €4,360 | €4,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€228,976 | -€244,977 | -€16,001 | -7.0% |
| Amounts payable | 17/49 | €703,135 | €699,771 | -€3,364 | -0.5% |
| Amounts payable within one year | 42/48 | €703,135 | €699,771 | -€3,364 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €410,000 | €410,000 | = | 0.0% |
| Trade debts | 44 | €1,642 | €4,099 | +€2,456 | +150% |
| Suppliers | 440/4 | €1,642 | €4,099 | +€2,456 | +150% |
| Taxes, remuneration and social security | 45 | €2,093 | €3,592 | +€1,499 | +71.6% |
| Taxes | 450/3 | €2,093 | €3,592 | +€1,499 | +71.6% |
| Other amounts payable | 47/48 | €289,399 | €282,080 | -€7,319 | -2.5% |
| Non-recurring operating income | 76A | - | €3,967 | +€3,967 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,827 | €1,736 | -€91 | -5.0% |
| Other operating charges | 640/8 | €2,598 | €1,945 | -€652 | -25.1% |
| Gross operating margin | 9900 | €793 | €10,934 | +€10,141 | +1,278% |
| Operating profit (loss) | 9901 | -€3,632 | €7,253 | +€10,885 | |
| Financial income | 75/76B | €23 | €0 | -€23 | -99.3% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -99.3% |
| Financial charges | 65/66B | €16,098 | €22,419 | +€6,321 | +39.3% |
| Recurring financial charges | 65 | €16,098 | €22,419 | +€6,321 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,707 | -€15,166 | +€4,541 | +23.0% |
| Income taxes | 67/77 | €825 | €835 | +€11 | +1.3% |
| Profit (loss) for the period | 9904 | -€20,532 | -€16,001 | +€4,531 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,532 | -€16,001 | +€4,531 | +22.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.