ADFC RETAIL MANAGEMENT: 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.
ADFC RETAIL MANAGEMENT
Largest movements
- Cash -€10,962
down €10,962 (-42.3%), from €25,889 to €14,927
mainly Net result for the year (-€16,998) and Tax, wage and social debts (-€11,291)
- Receivables within one year -€9,120
down €9,120 (-65.5%), from €13,934 to €4,814
of which Other amounts receivable: -€7,144
- Deferred charges and accrued income -€976
down €976 (-36.0%), from €2,710 to €1,734
- Profit (loss) carried forward -€16,998
down €16,998 (-411%), from -€4,131 to -€21,129
- Accrued charges and deferred income +€12,217
new in 2025: €12,217
- Tax, wage and social debts -€11,291
down €11,291 (-66.5%), from €16,977 to €5,686
of which Taxes: -€6,219
- Debts after one year -€6,749
down €6,749 (-49.8%), from €13,566 to €6,817
- Trade debts +€2,992
up €2,992 (+182%), from €1,640 to €4,632
- Staff costs +€13,700
up €13,700 (+28.9%), from €47,360 to €61,060
- Gross operating margin +€4,193
up €4,193 (+8.3%), from €50,450 to €54,643
- Depreciation +€3,692
up €3,692 (+68.7%), from €5,372 to €9,064
- Financial charges +€810
up €810 (+157%), from €516 to €1,326
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 | €67,329 | €45,677 | -€21,652 | -32.2% |
| Fixed assets | 21/28 | €24,796 | €24,202 | -€594 | -2.4% |
| Tangible fixed assets | 22/27 | €21,523 | €20,929 | -€594 | -2.8% |
| Furniture and vehicles | 24 | - | €4,941 | +€4,941 | |
| Leasing and similar rights | 25 | €21,523 | €15,989 | -€5,534 | -25.7% |
| Financial fixed assets | 28 | €3,273 | €3,273 | = | 0.0% |
| Current assets | 29/58 | €42,533 | €21,475 | -€21,058 | -49.5% |
| Amounts receivable within one year | 40/41 | €13,934 | €4,814 | -€9,120 | -65.5% |
| Trade receivables | 40 | €6,356 | €4,380 | -€1,976 | -31.1% |
| Other amounts receivable | 41 | €7,578 | €434 | -€7,144 | -94.3% |
| Cash at bank and in hand | 54/58 | €25,889 | €14,927 | -€10,962 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,710 | €1,734 | -€976 | -36.0% |
| Total equity and liabilities | 10/49 | €67,329 | €45,677 | -€21,652 | -32.2% |
| Equity | 10/15 | €14,419 | -€2,579 | -€16,998 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,131 | -€21,129 | -€16,998 | -411% |
| Amounts payable | 17/49 | €52,910 | €48,256 | -€4,654 | -8.8% |
| Amounts payable after more than one year | 17 | €13,566 | €6,817 | -€6,749 | -49.8% |
| Financial debts | 170/4 | €13,566 | €6,817 | -€6,749 | -49.8% |
| Amounts payable within one year | 42/48 | €39,344 | €29,221 | -€10,123 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €6,749 | €6,749 | +€0 | 0.0% |
| Trade debts | 44 | €1,640 | €4,632 | +€2,992 | +182% |
| Suppliers | 440/4 | €1,640 | €4,632 | +€2,992 | +182% |
| Taxes, remuneration and social security | 45 | €16,977 | €5,686 | -€11,291 | -66.5% |
| Taxes | 450/3 | €11,905 | €5,686 | -€6,219 | -52.2% |
| Remuneration and social security | 454/9 | €5,072 | - | -€5,072 | |
| Other amounts payable | 47/48 | €13,978 | €12,154 | -€1,824 | -13.0% |
| Accrued charges and deferred income | 492/3 | - | €12,217 | +€12,217 | |
| Remuneration, social security and pensions | 62 | €47,360 | €61,060 | +€13,700 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,372 | €9,064 | +€3,692 | +68.7% |
| Other operating charges | 640/8 | €138 | €191 | +€53 | +38.3% |
| Gross operating margin | 9900 | €50,450 | €54,643 | +€4,193 | +8.3% |
| Operating profit (loss) | 9901 | -€2,420 | -€15,672 | -€13,252 | -548% |
| Financial charges | 65/66B | €516 | €1,326 | +€810 | +157% |
| Recurring financial charges | 65 | €516 | €1,326 | +€810 | +157% |
| Profit (loss) for the period before taxes | 9903 | -€2,936 | -€16,998 | -€14,062 | -479% |
| Income taxes | 67/77 | €98 | - | -€98 | |
| Profit (loss) for the period | 9904 | -€3,034 | -€16,998 | -€13,964 | -460% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,034 | -€16,998 | -€13,964 | -460% |
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.