ADEMED: 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.
ADEMED
Largest movements
- Current investments +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Cash +€35,585
up €35,585 (+128.8%), from €27,619 to €63,205
mainly Net result for the year (+€54,006) and Depreciation (+€30,771)
- Intangible fixed assets -€20,000
down €20,000 (-26.7%), from €74,969 to €54,969
- Receivables within one year -€6,090
down €6,090 (-16.0%), from €38,156 to €32,066
of which Other amounts receivable: -€8,000
- Profit (loss) carried forward +€53,615
up €53,615 (+30.6%), from €175,207 to €228,822
- Other debts +€7,869
up €7,869 (+5.9%), from €133,337 to €141,206
- Gross operating margin +€14,431
up €14,431 (+15.8%), from €91,478 to €105,909
- Depreciation +€8,414
up €8,414 (+37.6%), from €22,357 to €30,771
- Taxes +€2,988
up €2,988 (+26.2%), from €11,420 to €14,408
- Financial charges -€2,285
down €2,285 (-19.4%), from €11,776 to €9,491
- Financial income -€1,340
down €1,340 (-23.4%), from €5,717 to €4,376
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 | €338,155 | €395,558 | +€57,403 | +17.0% |
| Fixed assets | 21/28 | €119,172 | €96,744 | -€22,428 | -18.8% |
| Intangible fixed assets | 21 | €74,969 | €54,969 | -€20,000 | -26.7% |
| Tangible fixed assets | 22/27 | €44,203 | €41,775 | -€2,428 | -5.5% |
| Plant, machinery and equipment | 23 | - | €4,484 | +€4,484 | |
| Furniture and vehicles | 24 | €44,203 | €37,290 | -€6,912 | -15.6% |
| Current assets | 29/58 | €218,984 | €298,814 | +€79,831 | +36.5% |
| Amounts receivable within one year | 40/41 | €38,156 | €32,066 | -€6,090 | -16.0% |
| Trade receivables | 40 | €30,156 | €32,066 | +€1,910 | +6.3% |
| Other amounts receivable | 41 | €8,000 | - | -€8,000 | |
| Current investments | 50/53 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €27,619 | €63,205 | +€35,585 | +128.8% |
| Deferred charges and accrued income | 490/1 | €3,208 | €3,543 | +€335 | +10.4% |
| Total equity and liabilities | 10/49 | €338,155 | €395,558 | +€57,403 | +17.0% |
| Equity | 10/15 | €195,667 | €249,282 | +€53,615 | +27.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,207 | €228,822 | +€53,615 | +30.6% |
| Amounts payable | 17/49 | €142,488 | €146,276 | +€3,787 | +2.7% |
| Amounts payable within one year | 42/48 | €142,488 | €146,276 | +€3,787 | +2.7% |
| Trade debts | 44 | €2,786 | €125 | -€2,661 | -95.5% |
| Suppliers | 440/4 | €2,786 | €125 | -€2,661 | -95.5% |
| Taxes, remuneration and social security | 45 | €6,366 | €4,945 | -€1,421 | -22.3% |
| Taxes | 450/3 | €6,366 | €4,445 | -€1,921 | -30.2% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €133,337 | €141,206 | +€7,869 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,357 | €30,771 | +€8,414 | +37.6% |
| Other operating charges | 640/8 | €1,085 | €1,609 | +€524 | +48.3% |
| Gross operating margin | 9900 | €91,478 | €105,909 | +€14,431 | +15.8% |
| Operating profit (loss) | 9901 | €68,035 | €73,528 | +€5,493 | +8.1% |
| Financial income | 75/76B | €5,717 | €4,376 | -€1,340 | -23.4% |
| Recurring financial income | 75 | €5,717 | €4,376 | -€1,340 | -23.4% |
| Financial charges | 65/66B | €11,776 | €9,491 | -€2,285 | -19.4% |
| Recurring financial charges | 65 | €11,776 | €9,491 | -€2,285 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €61,976 | €68,414 | +€6,438 | +10.4% |
| Income taxes | 67/77 | €11,420 | €14,408 | +€2,988 | +26.2% |
| Profit (loss) for the period | 9904 | €50,556 | €54,006 | +€3,451 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,556 | €54,006 | +€3,451 | +6.8% |
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.