ADERA: 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.
ADERA
Largest movements
- Tangible fixed assets -€273,783
down €273,783 (-52.1%), from €525,605 to €251,822
of which Land and buildings: -€255,461
- Cash +€134,046
up €134,046 (+7461.9%), from €1,796 to €135,842
mainly Investment in fixed assets (net) (+€206,115) and Net result for the year (+€128,491)
- Stocks and contracts +€34,806
up €34,806 (+56.7%), from €61,381 to €96,187
of which Stocks: +€32,746
- Debts after one year -€203,669
down €203,669 (-71.1%), from €286,628 to €82,958
- Reserves +€87,412
up €87,412 (+58.5%), from €149,445 to €236,857
of which Distributable reserves: +€199,704
- Profit (loss) carried forward +€41,079
no longer reported in 2025 (was -€41,079)
- Tax, wage and social debts +€38,262
up €38,262 (+223.6%), from €17,113 to €55,375
of which Taxes: +€39,340
- Trade debts -€35,977
down €35,977 (-43.5%), from €82,743 to €46,766
- Gross operating margin +€115,679
up €115,679 (+58.7%), from €197,233 to €312,912
- Taxes +€39,638
up €39,638 (+14635.4%), from €271 to €39,909
- Depreciation -€10,599
down €10,599 (-13.5%), from €78,267 to €67,668
- Financial charges -€5,796
down €5,796 (-28.9%), from €20,047 to €14,252
- Financial income -€4,798
down €4,798 (-99.3%), from €4,833 to €35
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 | €694,635 | €583,495 | -€111,140 | -16.0% |
| Fixed assets | 21/28 | €525,605 | €251,822 | -€273,783 | -52.1% |
| Tangible fixed assets | 22/27 | €525,605 | €251,822 | -€273,783 | -52.1% |
| Land and buildings | 22 | €456,888 | €201,427 | -€255,461 | -55.9% |
| Plant, machinery and equipment | 23 | €1,082 | €1,700 | +€618 | +57.1% |
| Furniture and vehicles | 24 | €54,957 | €44,469 | -€10,488 | -19.1% |
| Leasing and similar rights | 25 | €12,678 | €4,226 | -€8,452 | -66.7% |
| Current assets | 29/58 | €169,030 | €331,672 | +€162,643 | +96.2% |
| Stocks and contracts in progress | 3 | €61,381 | €96,187 | +€34,806 | +56.7% |
| Stocks | 30/36 | €61,381 | €94,127 | +€32,746 | +53.3% |
| Contracts in progress | 37 | - | €2,060 | +€2,060 | |
| Amounts receivable within one year | 40/41 | €93,234 | €89,520 | -€3,715 | -4.0% |
| Trade receivables | 40 | €84,589 | €82,397 | -€2,192 | -2.6% |
| Other amounts receivable | 41 | €8,645 | €7,123 | -€1,522 | -17.6% |
| Cash at bank and in hand | 54/58 | €1,796 | €135,842 | +€134,046 | +7461.9% |
| Deferred charges and accrued income | 490/1 | €12,618 | €10,124 | -€2,494 | -19.8% |
| Total equity and liabilities | 10/49 | €694,635 | €583,495 | -€111,140 | -16.0% |
| Equity | 10/15 | €126,966 | €255,457 | +€128,491 | +101.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,445 | €236,857 | +€87,412 | +58.5% |
| Tax-exempt reserves | 132 | €112,292 | - | -€112,292 | |
| Distributable reserves | 133 | €37,153 | €236,857 | +€199,704 | +537.5% |
| Profit (loss) carried forward | 14 | -€41,079 | - | +€41,079 | |
| Provisions and deferred taxes | 16 | €28,073 | - | -€28,073 | |
| Deferred taxes | 168 | €28,073 | - | -€28,073 | |
| Amounts payable | 17/49 | €539,596 | €328,038 | -€211,558 | -39.2% |
| Amounts payable after more than one year | 17 | €286,628 | €82,958 | -€203,669 | -71.1% |
| Financial debts | 170/4 | €286,628 | €82,958 | -€203,669 | -71.1% |
| Amounts payable within one year | 42/48 | €252,608 | €245,080 | -€7,529 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €65,400 | €48,456 | -€16,944 | -25.9% |
| Financial debts | 43 | €13,931 | - | -€13,931 | |
| Credit institutions | 430/8 | €13,931 | - | -€13,931 | |
| Trade debts | 44 | €82,743 | €46,766 | -€35,977 | -43.5% |
| Suppliers | 440/4 | €82,743 | €46,766 | -€35,977 | -43.5% |
| Advances received on contracts in progress | 46 | €1,745 | - | -€1,745 | |
| Taxes, remuneration and social security | 45 | €17,113 | €55,375 | +€38,262 | +223.6% |
| Taxes | 450/3 | €5,733 | €45,074 | +€39,340 | +686.2% |
| Remuneration and social security | 454/9 | €11,380 | €10,301 | -€1,079 | -9.5% |
| Other amounts payable | 47/48 | €71,676 | €94,483 | +€22,807 | +31.8% |
| Accrued charges and deferred income | 492/3 | €360 | - | -€360 | |
| Remuneration, social security and pensions | 62 | €81,510 | €83,187 | +€1,677 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,267 | €67,668 | -€10,599 | -13.5% |
| Other operating charges | 640/8 | €5,126 | €7,513 | +€2,386 | +46.5% |
| Gross operating margin | 9900 | €197,233 | €312,912 | +€115,679 | +58.7% |
| Operating profit (loss) | 9901 | €32,330 | €154,544 | +€122,214 | +378.0% |
| Financial income | 75/76B | €4,833 | €35 | -€4,798 | -99.3% |
| Recurring financial income | 75 | €4,833 | €35 | -€4,798 | -99.3% |
| Financial charges | 65/66B | €20,047 | €14,252 | -€5,796 | -28.9% |
| Recurring financial charges | 65 | €20,047 | €14,252 | -€5,796 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €17,115 | €140,327 | +€123,212 | +719.9% |
| Transfer from deferred taxes | 780 | €3,973 | €28,073 | +€24,100 | +606.6% |
| Income taxes | 67/77 | €271 | €39,909 | +€39,638 | +14635.4% |
| Profit (loss) for the period | 9904 | €20,817 | €128,491 | +€107,674 | +517.2% |
| Transfer from tax-exempt reserves | 789 | €15,892 | €112,292 | +€96,401 | +606.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,709 | €240,783 | +€204,075 | +555.9% |
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 8 October 2026 via checked.be.