ADIMAT: 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.
ADIMAT
Largest movements
- Cash +€455,299
up €455,299 (+93.6%), from €486,621 to €941,920
mainly Accrued charges and deferred income (+€1.1m) and Contributions, distributions and other (+€80,617)
- Deferred charges and accrued income +€298,789
up €298,789 (+3815.3%), from €7,831 to €306,620
- Receivables within one year +€227,985
up €227,985 (+34.6%), from €659,441 to €887,426
of which Trade receivables: +€203,655
- Accrued charges and deferred income +€1.1m
up €1.1m (+40754.0%), from €2,784 to €1.1m
- Trade debts -€240,731
down €240,731 (-16.3%), from €1.5m to €1.2m
- Profit (loss) carried forward +€54,275
up €54,275 (+159.8%), from €33,971 to €88,247
- Contributions +€32,353
up €32,353 (+115.3%), from €28,071 to €60,424
- Gross operating margin +€144,524
up €144,524 (+35.8%), from €403,217 to €547,742
- Financial income +€101,997
up €101,997 (+222.8%), from €45,784 to €147,781
- Financial charges +€98,758
up €98,758 (+198.6%), from €49,739 to €148,497
- Other operating charges +€87,740
up €87,740 (+78.5%), from €111,830 to €199,571
- Staff costs +€56,859
up €56,859 (+22.3%), from €254,443 to €311,302
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,605,632 | €2,594,872 | +€989,240 | +61.6% |
| Fixed assets | 21/28 | €451,739 | €438,178 | -€13,560 | -3.0% |
| Intangible fixed assets | 21 | €10,766 | €6,286 | -€4,480 | -41.6% |
| Tangible fixed assets | 22/27 | €18,910 | €7,040 | -€11,870 | -62.8% |
| Plant, machinery and equipment | 23 | €454 | €1,034 | +€580 | +127.8% |
| Furniture and vehicles | 24 | €18,457 | €6,006 | -€12,450 | -67.5% |
| Financial fixed assets | 28 | €422,062 | €424,852 | +€2,790 | +0.7% |
| Current assets | 29/58 | €1,153,893 | €2,156,693 | +€1.0m | +86.9% |
| Stocks and contracts in progress | 3 | - | €20,728 | +€20,728 | |
| Stocks | 30/36 | - | €20,728 | +€20,728 | |
| Amounts receivable within one year | 40/41 | €659,441 | €887,426 | +€227,985 | +34.6% |
| Trade receivables | 40 | €646,291 | €849,945 | +€203,655 | +31.5% |
| Other amounts receivable | 41 | €13,150 | €37,480 | +€24,330 | +185.0% |
| Cash at bank and in hand | 54/58 | €486,621 | €941,920 | +€455,299 | +93.6% |
| Deferred charges and accrued income | 490/1 | €7,831 | €306,620 | +€298,789 | +3815.3% |
| Total equity and liabilities | 10/49 | €1,605,632 | €2,594,872 | +€989,240 | +61.6% |
| Equity | 10/15 | €64,395 | €151,023 | +€86,628 | +134.5% |
| Contributions | 10/11 | €28,071 | €60,424 | +€32,353 | +115.3% |
| Reserves | 13 | €2,352 | €2,352 | = | 0.0% |
| Distributable reserves | 133 | €2,352 | €2,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,971 | €88,247 | +€54,275 | +159.8% |
| Amounts payable | 17/49 | €1,541,237 | €2,443,849 | +€902,612 | +58.6% |
| Amounts payable within one year | 42/48 | €1,538,453 | €1,306,473 | -€231,980 | -15.1% |
| Trade debts | 44 | €1,478,888 | €1,238,157 | -€240,731 | -16.3% |
| Suppliers | 440/4 | €1,478,888 | €1,238,157 | -€240,731 | -16.3% |
| Taxes, remuneration and social security | 45 | €59,565 | €68,316 | +€8,751 | +14.7% |
| Taxes | 450/3 | €16,200 | €11,921 | -€4,279 | -26.4% |
| Remuneration and social security | 454/9 | €43,365 | €56,395 | +€13,030 | +30.0% |
| Accrued charges and deferred income | 492/3 | €2,784 | €1,137,376 | +€1.1m | +40754.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €254,443 | €311,302 | +€56,859 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,154 | €17,248 | +€94 | +0.6% |
| Other operating charges | 640/8 | €111,830 | €199,571 | +€87,740 | +78.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €403,217 | €547,742 | +€144,524 | +35.8% |
| Operating profit (loss) | 9901 | €19,790 | €19,620 | -€169 | -0.9% |
| Financial income | 75/76B | €45,784 | €147,781 | +€101,997 | +222.8% |
| Recurring financial income | 75 | €45,784 | €147,781 | +€101,997 | +222.8% |
| Financial charges | 65/66B | €49,739 | €148,497 | +€98,758 | +198.6% |
| Recurring financial charges | 65 | €49,739 | €148,497 | +€98,758 | +198.6% |
| Profit (loss) for the period before taxes | 9903 | €15,834 | €18,904 | +€3,070 | +19.4% |
| Income taxes | 67/77 | €12,621 | €12,893 | +€272 | +2.2% |
| Profit (loss) for the period | 9904 | €3,213 | €6,011 | +€2,798 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,213 | €6,011 | +€2,798 | +87.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.