ADIMOR: what changed
ADIMOR
Largest movements
- Tangible fixed assets -€76,010
down €76,010 (-38.6%), from €196,675 to €120,665
of which Leasing and similar rights: -€62,731
- Cash -€23,374
down €23,374 (-79.9%), from €29,247 to €5,873
mainly Debts after one year (-€42,843) and Current portion of long-term debt (-€38,380)
- Receivables within one year +€15,777
up €15,777 (+11.9%), from €132,301 to €148,079
of which Trade receivables: +€13,151
- Debts after one year -€42,843
down €42,843 (-43.8%), from €97,766 to €54,923
- Current portion of long-term debt -€38,380
down €38,380 (-47.3%), from €81,223 to €42,843
- Profit (loss) carried forward +€9,305
up €9,305 (+6.5%), from €142,836 to €152,141
- Tax, wage and social debts -€8,364
down €8,364 (-28.9%), from €28,938 to €20,574
of which Remuneration and social security: -€12,243
- Gross operating margin -€40,447
down €40,447 (-19.9%), from €203,143 to €162,696
- Staff costs -€33,540
down €33,540 (-39.8%), from €84,313 to €50,773
- Financial charges -€6,202
down €6,202 (-33.1%), from €18,738 to €12,536
- Depreciation +€2,673
up €2,673 (+3.4%), from €79,544 to €82,217
- Other operating charges -€2,497
down €2,497 (-26.2%), from €9,540 to €7,043
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,980 | €278,885 | -€83,094 | -23.0% |
| Fixed assets | 21/28 | €196,675 | €120,665 | -€76,010 | -38.6% |
| Tangible fixed assets | 22/27 | €196,675 | €120,665 | -€76,010 | -38.6% |
| Plant, machinery and equipment | 23 | €9,323 | €6,401 | -€2,922 | -31.3% |
| Furniture and vehicles | 24 | €46,747 | €36,390 | -€10,357 | -22.2% |
| Leasing and similar rights | 25 | €140,605 | €77,874 | -€62,731 | -44.6% |
| Current assets | 29/58 | €165,305 | €158,220 | -€7,084 | -4.3% |
| Amounts receivable within one year | 40/41 | €132,301 | €148,079 | +€15,777 | +11.9% |
| Trade receivables | 40 | €86,657 | €99,808 | +€13,151 | +15.2% |
| Other amounts receivable | 41 | €45,644 | €48,271 | +€2,626 | +5.8% |
| Cash at bank and in hand | 54/58 | €29,247 | €5,873 | -€23,374 | -79.9% |
| Deferred charges and accrued income | 490/1 | €3,757 | €4,268 | +€512 | +13.6% |
| Total equity and liabilities | 10/49 | €361,980 | €278,885 | -€83,094 | -23.0% |
| Equity | 10/15 | €150,896 | €160,201 | +€9,305 | +6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €142,836 | €152,141 | +€9,305 | +6.5% |
| Amounts payable | 17/49 | €211,084 | €118,684 | -€92,400 | -43.8% |
| Amounts payable after more than one year | 17 | €97,766 | €54,923 | -€42,843 | -43.8% |
| Financial debts | 170/4 | €97,766 | €54,923 | -€42,843 | -43.8% |
| Amounts payable within one year | 42/48 | €113,318 | €63,762 | -€49,556 | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €81,223 | €42,843 | -€38,380 | -47.3% |
| Trade debts | 44 | €3,157 | €344 | -€2,813 | -89.1% |
| Suppliers | 440/4 | €3,157 | €344 | -€2,813 | -89.1% |
| Taxes, remuneration and social security | 45 | €28,938 | €20,574 | -€8,364 | -28.9% |
| Taxes | 450/3 | €12,582 | €16,461 | +€3,879 | +30.8% |
| Remuneration and social security | 454/9 | €16,356 | €4,113 | -€12,243 | -74.9% |
| Remuneration, social security and pensions | 62 | €84,313 | €50,773 | -€33,540 | -39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,544 | €82,217 | +€2,673 | +3.4% |
| Other operating charges | 640/8 | €9,540 | €7,043 | -€2,497 | -26.2% |
| Gross operating margin | 9900 | €203,143 | €162,696 | -€40,447 | -19.9% |
| Operating profit (loss) | 9901 | €29,745 | €22,663 | -€7,083 | -23.8% |
| Financial income | 75/76B | €2,067 | €2,935 | +€868 | +42.0% |
| Recurring financial income | 75 | €2,067 | €2,935 | +€868 | +42.0% |
| Financial charges | 65/66B | €18,738 | €12,536 | -€6,202 | -33.1% |
| Recurring financial charges | 65 | €18,738 | €12,536 | -€6,202 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €13,074 | €13,061 | -€13 | -0.1% |
| Income taxes | 67/77 | €4,034 | €3,756 | -€278 | -6.9% |
| Profit (loss) for the period | 9904 | €9,040 | €9,305 | +€265 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,040 | €9,305 | +€265 | +2.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.