ADF IMMO: 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.
ADF IMMO
Largest movements
- Tangible fixed assets -€31,500
no longer reported in 2025 (was €31,500)
- Receivables within one year +€10,538
up €10,538 (+91.5%), from €11,514 to €22,052
- Short-term financial debts -€12,256
no longer reported in 2025 (was €12,256)
- Trade debts -€7,248
no longer reported in 2025 (was €7,248)
- Gross operating margin -€2,565
down €2,565 (-215%), from -€1,195 to -€3,760
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Financial income +€261
up €261 (+6.8%), from €3,828 to €4,088
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 | €204,525 | €183,829 | -€20,696 | -10.1% |
| Fixed assets | 21/28 | €31,500 | - | -€31,500 | |
| Tangible fixed assets | 22/27 | €31,500 | - | -€31,500 | |
| Land and buildings | 22 | €31,500 | - | -€31,500 | |
| Current assets | 29/58 | €173,025 | €183,829 | +€10,804 | +6.2% |
| Amounts receivable after more than one year | 29 | €157,684 | €157,684 | = | 0.0% |
| Other amounts receivable | 291 | €157,684 | €157,684 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,514 | €22,052 | +€10,538 | +91.5% |
| Other amounts receivable | 41 | €11,514 | €22,052 | +€10,538 | +91.5% |
| Cash at bank and in hand | 54/58 | - | €5 | +€5 | |
| Deferred charges and accrued income | 490/1 | €3,828 | €4,088 | +€261 | +6.8% |
| Total equity and liabilities | 10/49 | €204,525 | €183,829 | -€20,696 | -10.1% |
| Equity | 10/15 | €180,076 | €178,885 | -€1,192 | -0.7% |
| Contributions | 10/11 | €300,500 | €300,500 | = | 0.0% |
| Capital | 10 | €300,500 | €300,500 | = | 0.0% |
| Issued capital | 100 | €300,500 | €300,500 | = | 0.0% |
| Reserves | 13 | €897 | €897 | = | 0.0% |
| Non-distributable reserves | 130/1 | €897 | €897 | = | 0.0% |
| Legal reserve | 130 | €897 | €897 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,321 | -€122,513 | -€1,192 | -1.0% |
| Amounts payable | 17/49 | €24,449 | €4,945 | -€19,504 | -79.8% |
| Amounts payable within one year | 42/48 | €24,449 | €4,945 | -€19,504 | -79.8% |
| Financial debts | 43 | €12,256 | - | -€12,256 | |
| Credit institutions | 430/8 | €12,256 | - | -€12,256 | |
| Trade debts | 44 | €7,248 | - | -€7,248 | |
| Suppliers | 440/4 | €7,248 | - | -€7,248 | |
| Taxes, remuneration and social security | 45 | €4,945 | €4,945 | = | 0.0% |
| Taxes | 450/3 | €4,945 | €4,945 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€1,195 | -€3,760 | -€2,565 | -215% |
| Operating profit (loss) | 9901 | -€1,582 | -€3,760 | -€2,178 | -138% |
| Financial income | 75/76B | €3,828 | €4,088 | +€261 | +6.8% |
| Recurring financial income | 75 | €3,828 | €4,088 | +€261 | +6.8% |
| Financial charges | 65/66B | €1,527 | €1,520 | -€7 | -0.5% |
| Recurring financial charges | 65 | €1,527 | €1,520 | -€7 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €718 | -€1,192 | -€1,910 | |
| Profit (loss) for the period | 9904 | €718 | -€1,192 | -€1,910 | |
| Profit (loss) for the period to be appropriated | 9905 | €718 | -€1,192 | -€1,910 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.