Adora: 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.
Adora
Largest movements
- Receivables within one year -€93,491
down €93,491 (-63.8%), from €146,612 to €53,121
of which Trade receivables: -€94,234
- Cash +€76,612
up €76,612 (+53.8%), from €142,482 to €219,094
mainly Receivables within one year (+€93,491) and Depreciation (+€55,448)
- Intangible fixed assets -€49,953
down €49,953 (-16.2%), from €307,423 to €257,471
- Deferred charges and accrued income -€10,297
down €10,297 (-92.9%), from €11,087 to €790
- Debts after one year -€76,098
down €76,098 (-32.4%), from €234,871 to €158,774
- Profit (loss) carried forward -€53,994
new in 2025: -€53,994
- Other debts +€50,982
up €50,982 (+598%), from €8,532 to €59,514
- Trade debts -€25,821
down €25,821 (-43.6%), from €59,236 to €33,415
- Advances received +€14,871
new in 2025: €14,871
- Gross operating margin -€119,113
down €119,113 (-31.7%), from €375,685 to €256,572
- Staff costs -€9,233
down €9,233 (-3.8%), from €246,119 to €236,886
- Other operating charges +€3,931
up €3,931 (+102%), from €3,866 to €7,797
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €674,323 | €598,171 | -€76,151 | -11.3% |
| Fixed assets | 21/28 | €345,036 | €289,607 | -€55,429 | -16.1% |
| Intangible fixed assets | 21 | €307,423 | €257,471 | -€49,953 | -16.2% |
| Tangible fixed assets | 22/27 | €37,512 | €32,018 | -€5,495 | -14.6% |
| Plant, machinery and equipment | 23 | €36,465 | €31,824 | -€4,641 | -12.7% |
| Furniture and vehicles | 24 | €1,048 | €194 | -€854 | -81.5% |
| Financial fixed assets | 28 | €100 | €118 | +€18 | +18.3% |
| Current assets | 29/58 | €329,287 | €308,564 | -€20,723 | -6.3% |
| Stocks and contracts in progress | 3 | €29,106 | €35,559 | +€6,453 | +22.2% |
| Stocks | 30/36 | €29,106 | €35,559 | +€6,453 | +22.2% |
| Amounts receivable within one year | 40/41 | €146,612 | €53,121 | -€93,491 | -63.8% |
| Trade receivables | 40 | €146,390 | €52,155 | -€94,234 | -64.4% |
| Other amounts receivable | 41 | €222 | €966 | +€743 | +334% |
| Cash at bank and in hand | 54/58 | €142,482 | €219,094 | +€76,612 | +53.8% |
| Deferred charges and accrued income | 490/1 | €11,087 | €790 | -€10,297 | -92.9% |
| Total equity and liabilities | 10/49 | €674,323 | €598,171 | -€76,151 | -11.3% |
| Equity | 10/15 | €66,866 | €12,873 | -€53,994 | -80.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €26,866 | €26,866 | = | 0.0% |
| Distributable reserves | 133 | €26,866 | €26,866 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€53,994 | -€53,994 | |
| Amounts payable | 17/49 | €607,456 | €585,298 | -€22,158 | -3.6% |
| Amounts payable after more than one year | 17 | €234,871 | €158,774 | -€76,098 | -32.4% |
| Financial debts | 170/4 | €234,871 | €158,774 | -€76,098 | -32.4% |
| Amounts payable within one year | 42/48 | €161,929 | €204,901 | +€42,971 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €83,517 | €76,257 | -€7,260 | -8.7% |
| Trade debts | 44 | €59,236 | €33,415 | -€25,821 | -43.6% |
| Suppliers | 440/4 | €59,236 | €33,415 | -€25,821 | -43.6% |
| Advances received on contracts in progress | 46 | - | €14,871 | +€14,871 | |
| Taxes, remuneration and social security | 45 | €10,644 | €20,843 | +€10,199 | +95.8% |
| Taxes | 450/3 | €7,830 | €18,083 | +€10,253 | +131% |
| Remuneration and social security | 454/9 | €2,814 | €2,760 | -€55 | -1.9% |
| Other amounts payable | 47/48 | €8,532 | €59,514 | +€50,982 | +598% |
| Accrued charges and deferred income | 492/3 | €210,655 | €221,624 | +€10,969 | +5.2% |
| Remuneration, social security and pensions | 62 | €246,119 | €236,886 | -€9,233 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,132 | €55,448 | -€3,684 | -6.2% |
| Other operating charges | 640/8 | €3,866 | €7,797 | +€3,931 | +102% |
| Gross operating margin | 9900 | €375,685 | €256,572 | -€119,113 | -31.7% |
| Operating profit (loss) | 9901 | €66,568 | -€43,559 | -€110,127 | |
| Financial income | 75/76B | €2,095 | €995 | -€1,100 | -52.5% |
| Recurring financial income | 75 | €2,095 | €995 | -€1,100 | -52.5% |
| Financial charges | 65/66B | €12,112 | €11,160 | -€952 | -7.9% |
| Recurring financial charges | 65 | €12,112 | €11,160 | -€952 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €56,550 | -€53,724 | -€110,274 | |
| Income taxes | 67/77 | €270 | €270 | -€1 | -0.2% |
| Profit (loss) for the period | 9904 | €56,280 | -€53,994 | -€110,274 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,280 | -€53,994 | -€110,274 |
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 14 October 2026 via checked.be.