ADHN: 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.
ADHN
Largest movements
- Cash +€16,487
up €16,487 (+37.2%), from €44,350 to €60,836
mainly Net result for the year (+€18,878) and Tax, wage and social debts (+€4,655)
- Deferred charges and accrued income -€1,530
down €1,530 (-81.8%), from €1,870 to €341
- Reserves +€18,878
up €18,878 (+59.6%), from €31,654 to €50,532
- Other debts -€6,616
down €6,616 (-100.0%), from €6,616 to €0
- Tax, wage and social debts +€4,655
up €4,655 (+24.0%), from €19,390 to €24,045
- Gross operating margin -€22,626
down €22,626 (-45.5%), from €49,690 to €27,064
- Taxes -€4,986
down €4,986 (-39.8%), from €12,529 to €7,543
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 | €62,405 | €78,562 | +€16,157 | +25.9% |
| Fixed assets | 21/28 | €273 | €1,036 | +€763 | +280.0% |
| Tangible fixed assets | 22/27 | - | €438 | +€438 | |
| Furniture and vehicles | 24 | - | €438 | +€438 | |
| Financial fixed assets | 28 | €273 | €597 | +€325 | +119.1% |
| Current assets | 29/58 | €62,132 | €77,526 | +€15,394 | +24.8% |
| Amounts receivable within one year | 40/41 | €15,912 | €16,349 | +€437 | +2.7% |
| Trade receivables | 40 | €15,912 | €16,341 | +€429 | +2.7% |
| Other amounts receivable | 41 | - | €8 | +€8 | |
| Cash at bank and in hand | 54/58 | €44,350 | €60,836 | +€16,487 | +37.2% |
| Deferred charges and accrued income | 490/1 | €1,870 | €341 | -€1,530 | -81.8% |
| Total equity and liabilities | 10/49 | €62,405 | €78,562 | +€16,157 | +25.9% |
| Equity | 10/15 | €33,654 | €52,532 | +€18,878 | +56.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €31,654 | €50,532 | +€18,878 | +59.6% |
| Distributable reserves | 133 | €31,654 | €50,532 | +€18,878 | +59.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,751 | €26,030 | -€2,721 | -9.5% |
| Amounts payable within one year | 42/48 | €28,751 | €26,030 | -€2,721 | -9.5% |
| Financial debts | 43 | €1,039 | €748 | -€291 | -28.0% |
| Credit institutions | 430/8 | €1,039 | €748 | -€291 | -28.0% |
| Trade debts | 44 | €1,707 | €1,238 | -€469 | -27.5% |
| Suppliers | 440/4 | €1,707 | €1,238 | -€469 | -27.5% |
| Taxes, remuneration and social security | 45 | €19,390 | €24,045 | +€4,655 | +24.0% |
| Taxes | 450/3 | €19,390 | €24,045 | +€4,655 | +24.0% |
| Other amounts payable | 47/48 | €6,616 | €0 | -€6,616 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €64 | +€64 | |
| Other operating charges | 640/8 | €796 | €520 | -€276 | -34.7% |
| Gross operating margin | 9900 | €49,690 | €27,064 | -€22,626 | -45.5% |
| Operating profit (loss) | 9901 | €48,894 | €26,480 | -€22,414 | -45.8% |
| Financial income | 75/76B | €15 | €0 | -€15 | -99.9% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -99.9% |
| Financial charges | 65/66B | €72 | €59 | -€13 | -18.6% |
| Recurring financial charges | 65 | €72 | €59 | -€13 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €48,837 | €26,421 | -€22,416 | -45.9% |
| Income taxes | 67/77 | €12,529 | €7,543 | -€4,986 | -39.8% |
| Profit (loss) for the period | 9904 | €36,308 | €18,878 | -€17,430 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,308 | €18,878 | -€17,430 | -48.0% |
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 7 October 2026 via checked.be.