Ademo: what changed
Ademo
Largest movements
- Financial fixed assets -€214,040
no longer reported in 2025 (was €214,040)
- Cash +€73,528
up €73,528 (+100%), from €73,190 to €146,718
mainly Investment in fixed assets (net) (+€205,510) and Other debts (+€170,228)
- Receivables within one year +€29,048
up €29,048 (+49.7%), from €58,485 to €87,533
of which Other amounts receivable: +€50,169
- Tangible fixed assets +€7,155
up €7,155 (+394%), from €1,816 to €8,971
of which Furniture and vehicles: +€7,380
- Reserves -€200,989
no longer reported in 2025 (was €200,989)
- Other debts +€170,228
up €170,228 (+1,286%), from €13,235 to €183,463
- Profit (loss) carried forward -€48,567
new in 2025: -€48,567
- Debts after one year -€24,558
down €24,558 (-30.2%), from €81,225 to €56,667
- Current portion of long-term debt -€9,877
down €9,877 (-28.7%), from €34,435 to €24,558
- Financial charges +€145,904
up €145,904 (+4,947%), from €2,949 to €148,853
of which Non-recurring financial charges: +€147,094
- Gross operating margin +€21,497
up €21,497 (+19.9%), from €108,122 to €129,618
- Depreciation -€1,597
down €1,597 (-53.7%), from €2,973 to €1,376
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €347,878 | €243,222 | -€104,657 | -30.1% |
| Fixed assets | 21/28 | €215,856 | €8,971 | -€206,885 | -95.8% |
| Tangible fixed assets | 22/27 | €1,816 | €8,971 | +€7,155 | +394% |
| Plant, machinery and equipment | 23 | €419 | €193 | -€226 | -53.9% |
| Furniture and vehicles | 24 | €1,397 | €8,778 | +€7,380 | +528% |
| Financial fixed assets | 28 | €214,040 | - | -€214,040 | |
| Current assets | 29/58 | €132,022 | €234,251 | +€102,229 | +77.4% |
| Amounts receivable within one year | 40/41 | €58,485 | €87,533 | +€29,048 | +49.7% |
| Trade receivables | 40 | €40,536 | €19,414 | -€21,122 | -52.1% |
| Other amounts receivable | 41 | €17,949 | €68,119 | +€50,169 | +280% |
| Cash at bank and in hand | 54/58 | €73,190 | €146,718 | +€73,528 | +100% |
| Deferred charges and accrued income | 490/1 | €347 | - | -€347 | |
| Total equity and liabilities | 10/49 | €347,878 | €243,222 | -€104,657 | -30.1% |
| Equity | 10/15 | €205,989 | -€43,567 | -€249,556 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €200,989 | - | -€200,989 | |
| Distributable reserves | 133 | €200,989 | - | -€200,989 | |
| Profit (loss) carried forward | 14 | - | -€48,567 | -€48,567 | |
| Amounts payable | 17/49 | €141,889 | €286,788 | +€144,899 | +102% |
| Amounts payable after more than one year | 17 | €81,225 | €56,667 | -€24,558 | -30.2% |
| Financial debts | 170/4 | €81,225 | €56,667 | -€24,558 | -30.2% |
| Amounts payable within one year | 42/48 | €60,664 | €230,121 | +€169,457 | +279% |
| Current portion of amounts payable after more than one year | 42 | €34,435 | €24,558 | -€9,877 | -28.7% |
| Trade debts | 44 | €1,882 | €1,381 | -€501 | -26.6% |
| Suppliers | 440/4 | €1,882 | €1,381 | -€501 | -26.6% |
| Taxes, remuneration and social security | 45 | €11,112 | €20,719 | +€9,607 | +86.5% |
| Taxes | 450/3 | €11,112 | €20,719 | +€9,607 | +86.5% |
| Other amounts payable | 47/48 | €13,235 | €183,463 | +€170,228 | +1,286% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,973 | €1,376 | -€1,597 | -53.7% |
| Other operating charges | 640/8 | €1,074 | €821 | -€253 | -23.5% |
| Gross operating margin | 9900 | €108,122 | €129,618 | +€21,497 | +19.9% |
| Operating profit (loss) | 9901 | €104,075 | €127,422 | +€23,346 | +22.4% |
| Financial charges | 65/66B | €2,949 | €148,853 | +€145,904 | +4,947% |
| Recurring financial charges | 65 | €2,949 | €1,759 | -€1,190 | -40.3% |
| Non-recurring financial charges | 66B | - | €147,094 | +€147,094 | |
| Profit (loss) for the period before taxes | 9903 | €101,126 | -€21,432 | -€122,558 | |
| Income taxes | 67/77 | €26,999 | €28,124 | +€1,125 | +4.2% |
| Profit (loss) for the period | 9904 | €74,127 | -€49,556 | -€123,683 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,127 | -€49,556 | -€123,683 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.