ADL ENDO: what changed
ADL ENDO
Largest movements
- Current investments +€199,483
up €199,483 (+96.9%), from €205,768 to €405,252
- Cash +€145,699
up €145,699 (+263%), from €55,402 to €201,101
mainly Net result for the year (+€321,943) and Tax, wage and social debts (+€68,954)
- Deferred charges and accrued income +€34,576
up €34,576 (+21.9%), from €157,744 to €192,319
- Tangible fixed assets +€26,873
up €26,873 (+374%), from €7,179 to €34,052
of which Other tangible fixed assets: +€24,730
- Receivables within one year -€10,883
down €10,883 (-11.4%), from €95,226 to €84,343
- Reserves +€321,943
up €321,943 (+70.7%), from €455,261 to €777,204
of which Distributable reserves: +€195,643
- Tax, wage and social debts +€68,954
up €68,954 (+115%), from €59,981 to €128,935
- Gross operating margin +€79,731
up €79,731 (+23.7%), from €335,866 to €415,597
- Taxes +€19,476
up €19,476 (+24.0%), from €81,080 to €100,556
- Financial income +€6,389
up €6,389 (+136%), from €4,697 to €11,085
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 | €521,319 | €917,067 | +€395,748 | +75.9% |
| Fixed assets | 21/28 | €7,179 | €34,052 | +€26,873 | +374% |
| Tangible fixed assets | 22/27 | €7,179 | €34,052 | +€26,873 | +374% |
| Plant, machinery and equipment | 23 | €757 | €2,900 | +€2,142 | +283% |
| Other tangible fixed assets | 26 | €6,421 | €31,152 | +€24,730 | +385% |
| Current assets | 29/58 | €514,141 | €883,016 | +€368,875 | +71.7% |
| Amounts receivable within one year | 40/41 | €95,226 | €84,343 | -€10,883 | -11.4% |
| Trade receivables | 40 | €95,226 | €84,343 | -€10,883 | -11.4% |
| Current investments | 50/53 | €205,768 | €405,252 | +€199,483 | +96.9% |
| Cash at bank and in hand | 54/58 | €55,402 | €201,101 | +€145,699 | +263% |
| Deferred charges and accrued income | 490/1 | €157,744 | €192,319 | +€34,576 | +21.9% |
| Total equity and liabilities | 10/49 | €521,319 | €917,067 | +€395,748 | +75.9% |
| Equity | 10/15 | €456,261 | €778,204 | +€321,943 | +70.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €455,261 | €777,204 | +€321,943 | +70.7% |
| Tax-exempt reserves | 132 | €126,300 | €252,600 | +€126,300 | +100% |
| Distributable reserves | 133 | €328,961 | €524,604 | +€195,643 | +59.5% |
| Amounts payable | 17/49 | €65,058 | €138,863 | +€73,805 | +113% |
| Amounts payable within one year | 42/48 | €61,116 | €134,058 | +€72,941 | +119% |
| Trade debts | 44 | €27 | €1,230 | +€1,202 | +4,376% |
| Suppliers | 440/4 | €27 | €1,230 | +€1,202 | +4,376% |
| Taxes, remuneration and social security | 45 | €59,981 | €128,935 | +€68,954 | +115% |
| Taxes | 450/3 | €59,981 | €128,935 | +€68,954 | +115% |
| Other amounts payable | 47/48 | €1,108 | €3,893 | +€2,785 | +251% |
| Accrued charges and deferred income | 492/3 | €3,941 | €4,805 | +€864 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €403 | €3,175 | +€2,772 | +687% |
| Other operating charges | 640/8 | €802 | €92 | -€710 | -88.5% |
| Gross operating margin | 9900 | €335,866 | €415,597 | +€79,731 | +23.7% |
| Operating profit (loss) | 9901 | €334,661 | €412,330 | +€77,669 | +23.2% |
| Financial income | 75/76B | €4,697 | €11,085 | +€6,389 | +136% |
| Recurring financial income | 75 | €4,697 | €11,085 | +€6,389 | +136% |
| Financial charges | 65/66B | €286 | €917 | +€631 | +220% |
| Recurring financial charges | 65 | €286 | €917 | +€631 | +220% |
| Profit (loss) for the period before taxes | 9903 | €339,072 | €422,499 | +€83,427 | +24.6% |
| Income taxes | 67/77 | €81,080 | €100,556 | +€19,476 | +24.0% |
| Profit (loss) for the period | 9904 | €257,992 | €321,943 | +€63,951 | +24.8% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €126,300 | +€42,100 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €173,792 | €195,643 | +€21,851 | +12.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.