ADJ PROPERTIES: 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.
ADJ PROPERTIES
Largest movements
- Tangible fixed assets -€17,499
down €17,499 (-2.1%), from €830,240 to €812,741
- Debts after one year -€39,491
down €39,491 (-5.4%), from €731,209 to €691,717
- Current portion of long-term debt +€18,509
up €18,509 (+88.2%), from €20,982 to €39,491
- Financial charges +€34,551
up €34,551 (+19025.7%), from €182 to €34,732
- Gross operating margin +€1,866
up €1,866 (+3.2%), from €58,452 to €60,318
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 | €833,738 | €815,814 | -€17,924 | -2.1% |
| Fixed assets | 21/28 | €830,240 | €812,741 | -€17,499 | -2.1% |
| Tangible fixed assets | 22/27 | €830,240 | €812,741 | -€17,499 | -2.1% |
| Land and buildings | 22 | €830,240 | €812,741 | -€17,499 | -2.1% |
| Current assets | 29/58 | €3,497 | €3,073 | -€425 | -12.1% |
| Amounts receivable within one year | 40/41 | - | €124 | +€124 | |
| Other amounts receivable | 41 | - | €124 | +€124 | |
| Cash at bank and in hand | 54/58 | €3,497 | €2,949 | -€548 | -15.7% |
| Total equity and liabilities | 10/49 | €833,738 | €815,814 | -€17,924 | -2.1% |
| Equity | 10/15 | -€41,136 | -€37,768 | +€3,368 | +8.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,136 | -€47,768 | +€3,368 | +6.6% |
| Amounts payable | 17/49 | €874,874 | €853,581 | -€21,292 | -2.4% |
| Amounts payable after more than one year | 17 | €731,209 | €691,717 | -€39,491 | -5.4% |
| Financial debts | 170/4 | €731,209 | €691,717 | -€39,491 | -5.4% |
| Amounts payable within one year | 42/48 | €143,665 | €161,864 | +€18,199 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €20,982 | €39,491 | +€18,509 | +88.2% |
| Trade debts | 44 | €63 | €52 | -€10 | -16.4% |
| Suppliers | 440/4 | €63 | €52 | -€10 | -16.4% |
| Other amounts payable | 47/48 | €122,620 | €122,320 | -€300 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,499 | €17,499 | +€0 | 0.0% |
| Other operating charges | 640/8 | €4,907 | €4,718 | -€190 | -3.9% |
| Gross operating margin | 9900 | €58,452 | €60,318 | +€1,866 | +3.2% |
| Operating profit (loss) | 9901 | €36,045 | €38,101 | +€2,056 | +5.7% |
| Financial charges | 65/66B | €182 | €34,732 | +€34,551 | +19025.7% |
| Recurring financial charges | 65 | €182 | €34,732 | +€34,551 | +19025.7% |
| Profit (loss) for the period before taxes | 9903 | €35,864 | €3,368 | -€32,495 | -90.6% |
| Profit (loss) for the period | 9904 | €35,864 | €3,368 | -€32,495 | -90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,864 | €3,368 | -€32,495 | -90.6% |
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 6 October 2026 via checked.be.