ADM BACHES: 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.
ADM BACHES
Largest movements
- Receivables within one year +€101,989
up €101,989 (+39.5%), from €258,045 to €360,034
of which Trade receivables: +€101,393
- Tangible fixed assets -€99,180
down €99,180 (-11.6%), from €858,207 to €759,027
of which Land and buildings: -€53,252
- Cash -€44,186
down €44,186 (-37.8%), from €116,916 to €72,730
mainly Receivables within one year (-€101,989) and Contributions, distributions and other (-€96,349)
- Stocks and contracts -€42,340
down €42,340 (-16.3%), from €259,622 to €217,282
- Reserves -€174,785
down €174,785 (-25.9%), from €675,609 to €500,824
of which Distributable reserves: -€174,785
- Profit (loss) carried forward +€147,020
up €147,020 (+2162.9%), from €6,797 to €153,817
- Advances received -€64,092
no longer reported in 2025 (was €64,092)
- Debts after one year -€52,400
down €52,400 (-14.2%), from €368,179 to €315,779
- Other debts +€44,884
up €44,884 (+52.5%), from €85,530 to €130,414
- Gross operating margin +€113,457
up €113,457 (+19.0%), from €596,498 to €709,954
- Staff costs +€65,412
up €65,412 (+16.8%), from €389,902 to €455,314
- Other operating charges +€14,538
up €14,538 (+91.8%), from €15,829 to €30,367
- Taxes +€13,103
up €13,103 (+71.1%), from €18,436 to €31,539
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 | €1,494,790 | €1,416,137 | -€78,652 | -5.3% |
| Fixed assets | 21/28 | €860,207 | €761,027 | -€99,180 | -11.5% |
| Tangible fixed assets | 22/27 | €858,207 | €759,027 | -€99,180 | -11.6% |
| Land and buildings | 22 | €603,153 | €549,901 | -€53,252 | -8.8% |
| Plant, machinery and equipment | 23 | €218,273 | €178,128 | -€40,145 | -18.4% |
| Furniture and vehicles | 24 | €36,780 | €30,999 | -€5,782 | -15.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €634,583 | €655,110 | +€20,527 | +3.2% |
| Stocks and contracts in progress | 3 | €259,622 | €217,282 | -€42,340 | -16.3% |
| Stocks | 30/36 | €259,622 | €217,282 | -€42,340 | -16.3% |
| Amounts receivable within one year | 40/41 | €258,045 | €360,034 | +€101,989 | +39.5% |
| Trade receivables | 40 | €199,540 | €300,933 | +€101,393 | +50.8% |
| Other amounts receivable | 41 | €58,505 | €59,102 | +€596 | +1.0% |
| Cash at bank and in hand | 54/58 | €116,916 | €72,730 | -€44,186 | -37.8% |
| Deferred charges and accrued income | 490/1 | - | €5,064 | +€5,064 | |
| Total equity and liabilities | 10/49 | €1,494,790 | €1,416,137 | -€78,652 | -5.3% |
| Equity | 10/15 | €746,249 | €718,484 | -€27,766 | -3.7% |
| Contributions | 10/11 | €48,944 | €48,944 | = | 0.0% |
| Outside capital | 11 | €48,944 | €48,944 | = | 0.0% |
| Other | 1109/19 | €48,944 | €48,944 | = | 0.0% |
| Reserves | 13 | €675,609 | €500,824 | -€174,785 | -25.9% |
| Non-distributable reserves | 130/1 | €5,824 | €5,824 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,824 | €5,824 | = | 0.0% |
| Distributable reserves | 133 | €669,785 | €495,000 | -€174,785 | -26.1% |
| Profit (loss) carried forward | 14 | €6,797 | €153,817 | +€147,020 | +2162.9% |
| Investment grants | 15 | €14,898 | €14,898 | = | 0.0% |
| Amounts payable | 17/49 | €748,540 | €697,653 | -€50,887 | -6.8% |
| Amounts payable after more than one year | 17 | €368,179 | €315,779 | -€52,400 | -14.2% |
| Financial debts | 170/4 | €368,179 | €315,779 | -€52,400 | -14.2% |
| Amounts payable within one year | 42/48 | €380,361 | €381,875 | +€1,513 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €82,973 | €73,824 | -€9,149 | -11.0% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Other loans | 439 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €3,304 | €9,321 | +€6,017 | +182.1% |
| Suppliers | 440/4 | €3,304 | €9,321 | +€6,017 | +182.1% |
| Advances received on contracts in progress | 46 | €64,092 | - | -€64,092 | |
| Taxes, remuneration and social security | 45 | €44,463 | €68,316 | +€23,853 | +53.6% |
| Taxes | 450/3 | - | €21,229 | +€21,229 | |
| Remuneration and social security | 454/9 | €44,463 | €47,087 | +€2,624 | +5.9% |
| Other amounts payable | 47/48 | €85,530 | €130,414 | +€44,884 | +52.5% |
| Remuneration, social security and pensions | 62 | €389,902 | €455,314 | +€65,412 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,531 | €107,164 | -€5,367 | -4.8% |
| Other operating charges | 640/8 | €15,829 | €30,367 | +€14,538 | +91.8% |
| Gross operating margin | 9900 | €596,498 | €709,954 | +€113,457 | +19.0% |
| Operating profit (loss) | 9901 | €78,236 | €117,110 | +€38,873 | +49.7% |
| Financial income | 75/76B | €3,401 | €1,059 | -€2,343 | -68.9% |
| Recurring financial income | 75 | €3,401 | €1,059 | -€2,343 | -68.9% |
| Financial charges | 65/66B | €17,860 | €18,046 | +€186 | +1.0% |
| Recurring financial charges | 65 | €17,860 | €18,046 | +€186 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €63,777 | €100,122 | +€36,345 | +57.0% |
| Transfer from deferred taxes | 780 | €108 | - | -€108 | |
| Income taxes | 67/77 | €18,436 | €31,539 | +€13,103 | +71.1% |
| Profit (loss) for the period | 9904 | €45,450 | €68,583 | +€23,133 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,450 | €68,583 | +€23,133 | +50.9% |
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 4 October 2026 via checked.be.