ADEMAR: 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.
ADEMAR
Largest movements
- Cash +€13,772
up €13,772 (+53.5%), from €25,757 to €39,529
mainly Trade debts (+€13,288) and Depreciation (+€2,986)
- Tangible fixed assets -€2,986
down €2,986 (-89.9%), from €3,322 to €335
of which Furniture and vehicles: -€1,580
- Receivables within one year +€2,429
up €2,429 (+6.4%), from €38,116 to €40,545
of which Other amounts receivable: +€5,331
- Trade debts +€13,288
up €13,288 (+38.8%), from €34,217 to €47,505
- Write-downs -€4,033
down €4,033 (-100.0%), from €4,033 to €0
- Depreciation -€2,215
down €2,215 (-42.6%), from €5,201 to €2,986
- Gross operating margin -€1,663
down €1,663 (-29.8%), from €5,573 to €3,910
- Financial income +€198
up €198, from €0 to €198
- Taxes +€142
up €142 (+18.5%), from €768 to €910
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 | €67,244 | €80,459 | +€13,215 | +19.7% |
| Fixed assets | 21/28 | €3,372 | €385 | -€2,986 | -88.6% |
| Tangible fixed assets | 22/27 | €3,322 | €335 | -€2,986 | -89.9% |
| Plant, machinery and equipment | 23 | €1,741 | €335 | -€1,406 | -80.7% |
| Furniture and vehicles | 24 | €1,580 | €0 | -€1,580 | -100.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €63,872 | €80,074 | +€16,201 | +25.4% |
| Amounts receivable within one year | 40/41 | €38,116 | €40,545 | +€2,429 | +6.4% |
| Trade receivables | 40 | €36,624 | €33,722 | -€2,902 | -7.9% |
| Other amounts receivable | 41 | €1,492 | €6,823 | +€5,331 | +357.3% |
| Cash at bank and in hand | 54/58 | €25,757 | €39,529 | +€13,772 | +53.5% |
| Total equity and liabilities | 10/49 | €67,244 | €80,459 | +€13,215 | +19.7% |
| Equity | 10/15 | €28,149 | €27,426 | -€723 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,549 | €8,826 | -€723 | -7.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €7,689 | €6,966 | -€723 | -9.4% |
| Amounts payable | 17/49 | €39,095 | €53,033 | +€13,938 | +35.7% |
| Amounts payable within one year | 42/48 | €39,095 | €53,033 | +€13,938 | +35.7% |
| Trade debts | 44 | €34,217 | €47,505 | +€13,288 | +38.8% |
| Suppliers | 440/4 | €34,217 | €47,505 | +€13,288 | +38.8% |
| Taxes, remuneration and social security | 45 | €4,878 | €5,528 | +€649 | +13.3% |
| Taxes | 450/3 | €4,878 | €5,528 | +€649 | +13.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,201 | €2,986 | -€2,215 | -42.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,033 | €0 | -€4,033 | -100.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €5,573 | €3,910 | -€1,663 | -29.8% |
| Operating profit (loss) | 9901 | -€4,167 | €404 | +€4,571 | |
| Financial income | 75/76B | €0 | €198 | +€198 | |
| Recurring financial income | 75 | €0 | €198 | +€198 | |
| Financial charges | 65/66B | €407 | €414 | +€7 | +1.7% |
| Recurring financial charges | 65 | €407 | €414 | +€7 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,574 | €187 | +€4,762 | |
| Income taxes | 67/77 | €768 | €910 | +€142 | +18.5% |
| Profit (loss) for the period | 9904 | -€5,342 | -€723 | +€4,620 | +86.5% |
| Transfer from tax-exempt reserves | 789 | €7,028 | €0 | -€7,028 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,685 | -€723 | -€2,408 |
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 3 October 2026 via checked.be.