Adley: what changed
Two financial 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.
What changed
Adley
NACE 20.110, Manufacture of chemicals and chemical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€315,494
2024 · €512,027-€196,534
Equity
€1.1m
2024 · €1.1m-€57,506
Cash
€1.0m
2024 · €1.2m-€174,092
Balance sheet total
€2.7m
2024 · €3.0m-€312,748
Largest movements
Assets
- Cash -€174,092
down €174,092 (-14.3%), from €1.2m to €1.0m
mainly Contributions, distributions and other (-€373,000) and Other debts (-€120,922)
- Stocks and contracts -€134,502
down €134,502 (-16.1%), from €835,931 to €701,429
Equity and liabilities
- Other debts -€120,922
down €120,922 (-10.0%), from €1.2m to €1.1m
- Trade debts -€119,932
down €119,932 (-21.0%), from €570,204 to €450,272
- Profit (loss) carried forward -€57,506
down €57,506 (-17.0%), from €339,027 to €281,521
Income statement
- Gross operating margin -€139,199
down €139,199 (-11.3%), from €1.2m to €1.1m
- Staff costs +€68,508
up €68,508 (+10.7%), from €639,988 to €708,495
- Taxes -€60,174
down €60,174 (-42.3%), from €142,247 to €82,073
- Financial income -€28,850
down €28,850 (-16.2%), from €178,211 to €149,361
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.
Result 2024
€512,027
Gross operating margin
-€139,199
Staff costs
-€68,508
Depreciation
-€3,753
Write-downs
-€6,881
Other operating charges
+€80
Financial income
-€28,850
Financial charges
-€9,598
Taxes
+€60,174
Result 2025
€315,494
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€246,083
Investment
-€36,478
Financing
-€383,697
Cash 2024
€1.2m
From operations (derived)
+€246,083
Net result for the year
+€315,494
Depreciation
+€45,896
Stocks and contracts
+€134,502
Receivables within one year
-€5,264
Trade debts
-€119,932
Tax, wage and social debts
-€3,691
Other debts
-€120,922
Investment (derived)
-€36,478
Investment in fixed assets (net)
-€36,478
Financing
-€383,697
Current portion of long-term debt
-€10,697
Contributions, distributions and other
-€373,000
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,032,484 | €2,719,736 | -€312,748 | -10.3% |
| Fixed assets | 21/28 | €176,022 | €166,604 | -€9,418 | -5.4% |
| Intangible fixed assets | 21 | €2,100 | €2,589 | +€489 | +23.3% |
| Tangible fixed assets | 22/27 | €173,522 | €143,614 | -€29,908 | -17.2% |
| Plant, machinery and equipment | 23 | €102,451 | €91,285 | -€11,167 | -10.9% |
| Furniture and vehicles | 24 | €24,934 | €15,367 | -€9,567 | -38.4% |
| Other tangible fixed assets | 26 | €46,136 | €36,962 | -€9,174 | -19.9% |
| Financial fixed assets | 28 | €400 | €20,400 | +€20,000 | +5,000% |
| Current assets | 29/58 | €2,856,462 | €2,553,132 | -€303,330 | -10.6% |
| Stocks and contracts in progress | 3 | €835,931 | €701,429 | -€134,502 | -16.1% |
| Stocks | 30/36 | €835,931 | €701,429 | -€134,502 | -16.1% |
| Amounts receivable within one year | 40/41 | €803,661 | €808,925 | +€5,264 | +0.7% |
| Trade receivables | 40 | €649,617 | €592,972 | -€56,645 | -8.7% |
| Other amounts receivable | 41 | €154,044 | €215,954 | +€61,909 | +40.2% |
| Cash at bank and in hand | 54/58 | €1,216,870 | €1,042,778 | -€174,092 | -14.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,032,484 | €2,719,736 | -€312,748 | -10.3% |
| Equity | 10/15 | €1,123,752 | €1,066,246 | -€57,506 | -5.1% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €84,725 | €84,725 | = | 0.0% |
| Non-distributable reserves | 130/1 | €81,750 | €81,750 | = | 0.0% |
| Legal reserve | 130 | €81,750 | €81,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,975 | €2,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €339,027 | €281,521 | -€57,506 | -17.0% |
| Amounts payable | 17/49 | €1,908,731 | €1,653,490 | -€255,241 | -13.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,908,725 | €1,653,484 | -€255,241 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €10,697 | €0 | -€10,697 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €570,204 | €450,272 | -€119,932 | -21.0% |
| Suppliers | 440/4 | €570,204 | €450,272 | -€119,932 | -21.0% |
| Taxes, remuneration and social security | 45 | €115,168 | €111,477 | -€3,691 | -3.2% |
| Taxes | 450/3 | €46,665 | €39,444 | -€7,221 | -15.5% |
| Remuneration and social security | 454/9 | €68,503 | €72,033 | +€3,531 | +5.2% |
| Other amounts payable | 47/48 | €1,212,656 | €1,091,734 | -€120,922 | -10.0% |
| Accrued charges and deferred income | 492/3 | €6 | €6 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €639,988 | €708,495 | +€68,508 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,143 | €45,896 | +€3,753 | +8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,638 | €3,243 | +€6,881 | |
| Other operating charges | 640/8 | €15,567 | €15,486 | -€80 | -0.5% |
| Gross operating margin | 9900 | €1,234,368 | €1,095,169 | -€139,199 | -11.3% |
| Operating profit (loss) | 9901 | €540,310 | €322,049 | -€218,261 | -40.4% |
| Financial income | 75/76B | €178,211 | €149,361 | -€28,850 | -16.2% |
| Recurring financial income | 75 | €178,211 | €149,361 | -€28,850 | -16.2% |
| Financial charges | 65/66B | €64,246 | €73,843 | +€9,598 | +14.9% |
| Recurring financial charges | 65 | €64,246 | €73,843 | +€9,598 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €654,275 | €397,567 | -€256,708 | -39.2% |
| Income taxes | 67/77 | €142,247 | €82,073 | -€60,174 | -42.3% |
| Profit (loss) for the period | 9904 | €512,027 | €315,494 | -€196,534 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €512,027 | €315,494 | -€196,534 | -38.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.