ADRDM: 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.
ADRDM
Largest movements
- Cash +€58,591
up €58,591 (+112.8%), from €51,930 to €110,520
mainly Net result for the year (+€49,440) and Receivables within one year (+€8,901)
- Receivables within one year -€8,901
down €8,901 (-37.2%), from €23,901 to €15,000
of which Trade receivables: -€8,901
- Reserves +€45,500
new in 2025: €45,500
- Tax, wage and social debts +€6,652
up €6,652 (+95.7%), from €6,948 to €13,601
of which Taxes: +€9,152
- Trade debts -€4,632
down €4,632 (-85.5%), from €5,417 to €785
- Profit (loss) carried forward +€3,940
up €3,940 (+61.1%), from €6,444 to €10,384
- Gross operating margin +€56,639
up €56,639 (+228.0%), from €24,839 to €81,479
- Taxes +€16,731
up €16,731 (+194.9%), from €8,583 to €25,314
- Other operating charges -€4,996
down €4,996 (-88.0%), from €5,678 to €682
- Staff costs +€1,612
new in 2025: €1,612
- Depreciation +€1,285
up €1,285 (+267.1%), from €481 to €1,766
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 | €298,168 | €350,689 | +€52,521 | +17.6% |
| Fixed assets | 21/28 | €222,087 | €223,800 | +€1,713 | +0.8% |
| Tangible fixed assets | 22/27 | €5,420 | €7,134 | +€1,713 | +31.6% |
| Furniture and vehicles | 24 | €5,420 | €7,134 | +€1,713 | +31.6% |
| Financial fixed assets | 28 | €216,667 | €216,667 | = | 0.0% |
| Current assets | 29/58 | €76,081 | €126,889 | +€50,808 | +66.8% |
| Amounts receivable within one year | 40/41 | €23,901 | €15,000 | -€8,901 | -37.2% |
| Trade receivables | 40 | €23,901 | €15,000 | -€8,901 | -37.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €51,930 | €110,520 | +€58,591 | +112.8% |
| Deferred charges and accrued income | 490/1 | €251 | €1,368 | +€1,118 | +446.2% |
| Total equity and liabilities | 10/49 | €298,168 | €350,689 | +€52,521 | +17.6% |
| Equity | 10/15 | €11,444 | €60,884 | +€49,440 | +432.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €45,500 | +€45,500 | |
| Distributable reserves | 133 | - | €45,500 | +€45,500 | |
| Profit (loss) carried forward | 14 | €6,444 | €10,384 | +€3,940 | +61.1% |
| Amounts payable | 17/49 | €286,724 | €289,805 | +€3,082 | +1.1% |
| Amounts payable within one year | 42/48 | €286,694 | €289,765 | +€3,071 | +1.1% |
| Financial debts | 43 | - | €1,008 | +€1,008 | |
| Credit institutions | 430/8 | - | €1,008 | +€1,008 | |
| Trade debts | 44 | €5,417 | €785 | -€4,632 | -85.5% |
| Suppliers | 440/4 | €5,417 | €785 | -€4,632 | -85.5% |
| Taxes, remuneration and social security | 45 | €6,948 | €13,601 | +€6,652 | +95.7% |
| Taxes | 450/3 | €4,448 | €13,601 | +€9,152 | +205.7% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100.0% |
| Other amounts payable | 47/48 | €274,328 | €274,371 | +€43 | 0.0% |
| Accrued charges and deferred income | 492/3 | €30 | €41 | +€11 | +36.1% |
| Remuneration, social security and pensions | 62 | - | €1,612 | +€1,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €481 | €1,766 | +€1,285 | +267.1% |
| Other operating charges | 640/8 | €5,678 | €682 | -€4,996 | -88.0% |
| Non-recurring operating charges | 66A | €1,290 | €0 | -€1,290 | -100.0% |
| Gross operating margin | 9900 | €24,839 | €81,479 | +€56,639 | +228.0% |
| Operating profit (loss) | 9901 | €17,390 | €77,419 | +€60,029 | +345.2% |
| Financial income | 75/76B | €242 | €541 | +€299 | +123.2% |
| Recurring financial income | 75 | €242 | €541 | +€299 | +123.2% |
| Financial charges | 65/66B | €2,834 | €3,207 | +€373 | +13.1% |
| Recurring financial charges | 65 | €2,834 | €3,207 | +€373 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €14,798 | €74,753 | +€59,955 | +405.2% |
| Income taxes | 67/77 | €8,583 | €25,314 | +€16,731 | +194.9% |
| Profit (loss) for the period | 9904 | €6,215 | €49,440 | +€43,224 | +695.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,215 | €49,440 | +€43,224 | +695.5% |
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 11 October 2026 via checked.be.