Adhémard: 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.
Adhémard
Largest movements
- Cash +€86,419
up €86,419 (+106%), from €81,334 to €167,753
mainly Net result for the year (+€82,732) and Tax, wage and social debts (+€22,237)
- Reserves +€61,732
up €61,732 (+129%), from €47,943 to €109,675
- Tax, wage and social debts +€22,237
up €22,237 (+68.6%), from €32,439 to €54,677
of which Taxes: +€23,299
- Other debts +€2,030
up €2,030 (+244%), from €833 to €2,863
- Gross operating margin +€49,513
up €49,513 (+83.1%), from €59,619 to €109,132
- Taxes +€10,676
up €10,676 (+86.4%), from €12,359 to €23,035
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 | €85,001 | €171,284 | +€86,283 | +102% |
| Current assets | 29/58 | €85,001 | €171,284 | +€86,283 | +102% |
| Amounts receivable within one year | 40/41 | €199 | €0 | -€199 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €199 | €0 | -€199 | -100% |
| Cash at bank and in hand | 54/58 | €81,334 | €167,753 | +€86,419 | +106% |
| Deferred charges and accrued income | 490/1 | €3,468 | €3,531 | +€63 | +1.8% |
| Total equity and liabilities | 10/49 | €85,001 | €171,284 | +€86,283 | +102% |
| Equity | 10/15 | €48,943 | €110,675 | +€61,732 | +126% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €47,943 | €109,675 | +€61,732 | +129% |
| Distributable reserves | 133 | €47,943 | €109,675 | +€61,732 | +129% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,058 | €60,608 | +€24,550 | +68.1% |
| Amounts payable within one year | 42/48 | €36,058 | €60,480 | +€24,422 | +67.7% |
| Financial debts | 43 | €280 | €661 | +€381 | +136% |
| Other loans | 439 | €280 | €661 | +€381 | +136% |
| Trade debts | 44 | €2,506 | €2,280 | -€226 | -9.0% |
| Suppliers | 440/4 | €2,506 | €2,280 | -€226 | -9.0% |
| Taxes, remuneration and social security | 45 | €32,439 | €54,677 | +€22,237 | +68.6% |
| Taxes | 450/3 | €29,199 | €52,498 | +€23,299 | +79.8% |
| Remuneration and social security | 454/9 | €3,240 | €2,178 | -€1,062 | -32.8% |
| Other amounts payable | 47/48 | €833 | €2,863 | +€2,030 | +244% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €206 | €128 | -€78 | -37.9% |
| Gross operating margin | 9900 | €59,619 | €109,132 | +€49,513 | +83.1% |
| Operating profit (loss) | 9901 | €59,413 | €109,004 | +€49,591 | +83.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,188 | €3,237 | +€49 | +1.5% |
| Recurring financial charges | 65 | €3,188 | €3,237 | +€49 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €56,224 | €105,767 | +€49,542 | +88.1% |
| Income taxes | 67/77 | €12,359 | €23,035 | +€10,676 | +86.4% |
| Profit (loss) for the period | 9904 | €43,865 | €82,732 | +€38,867 | +88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,865 | €82,732 | +€38,867 | +88.6% |
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 24 October 2026 via checked.be.