ADRE: 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.
ADRE
Largest movements
- Receivables within one year +€9,589
up €9,589 (+48.5%), from €19,751 to €29,341
- Cash +€5,843
up €5,843 (+17.3%), from €33,867 to €39,710
mainly Net result for the year (+€39,567) and Depreciation (+€13,453)
- Tangible fixed assets -€5,233
down €5,233 (-6.7%), from €78,534 to €73,301
of which Land and buildings: -€5,555
- Reserves +€20,201
up €20,201 (+24.7%), from €81,733 to €101,934
of which Distributable reserves: +€20,201
- Current portion of long-term debt -€9,804
down €9,804 (-86.3%), from €11,361 to €1,557
- Other debts +€5,357
up €5,357 (+38.2%), from €14,010 to €19,367
- Trade debts -€3,365
down €3,365 (-68.4%), from €4,917 to €1,552
- Debts after one year -€1,557
no longer reported in 2025 (was €1,557)
- Gross operating margin +€3,230
up €3,230 (+4.3%), from €75,276 to €78,506
- Depreciation +€1,517
up €1,517 (+12.7%), from €11,936 to €13,453
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 | €132,880 | €143,406 | +€10,526 | +7.9% |
| Fixed assets | 21/28 | €78,534 | €73,301 | -€5,233 | -6.7% |
| Tangible fixed assets | 22/27 | €78,534 | €73,301 | -€5,233 | -6.7% |
| Land and buildings | 22 | €72,055 | €66,501 | -€5,555 | -7.7% |
| Plant, machinery and equipment | 23 | €4,380 | €4,380 | = | 0.0% |
| Furniture and vehicles | 24 | €2,099 | €2,421 | +€322 | +15.3% |
| Current assets | 29/58 | €54,345 | €70,105 | +€15,759 | +29.0% |
| Amounts receivable within one year | 40/41 | €19,751 | €29,341 | +€9,589 | +48.5% |
| Other amounts receivable | 41 | €19,751 | €29,341 | +€9,589 | +48.5% |
| Cash at bank and in hand | 54/58 | €33,867 | €39,710 | +€5,843 | +17.3% |
| Deferred charges and accrued income | 490/1 | €727 | €1,054 | +€327 | +44.9% |
| Total equity and liabilities | 10/49 | €132,880 | €143,406 | +€10,526 | +7.9% |
| Equity | 10/15 | €94,133 | €114,334 | +€20,201 | +21.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €81,733 | €101,934 | +€20,201 | +24.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,873 | €100,074 | +€20,201 | +25.3% |
| Amounts payable | 17/49 | €38,746 | €29,072 | -€9,674 | -25.0% |
| Amounts payable after more than one year | 17 | €1,557 | - | -€1,557 | |
| Financial debts | 170/4 | €1,557 | - | -€1,557 | |
| Amounts payable within one year | 42/48 | €37,189 | €29,072 | -€8,117 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €11,361 | €1,557 | -€9,804 | -86.3% |
| Trade debts | 44 | €4,917 | €1,552 | -€3,365 | -68.4% |
| Suppliers | 440/4 | €4,917 | €1,552 | -€3,365 | -68.4% |
| Taxes, remuneration and social security | 45 | €6,902 | €6,596 | -€305 | -4.4% |
| Taxes | 450/3 | €6,902 | €6,596 | -€305 | -4.4% |
| Other amounts payable | 47/48 | €14,010 | €19,367 | +€5,357 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,936 | €13,453 | +€1,517 | +12.7% |
| Other operating charges | 640/8 | €2,453 | €2,592 | +€139 | +5.7% |
| Gross operating margin | 9900 | €75,276 | €78,506 | +€3,230 | +4.3% |
| Operating profit (loss) | 9901 | €60,886 | €62,460 | +€1,574 | +2.6% |
| Financial charges | 65/66B | €1,488 | €1,297 | -€191 | -12.8% |
| Recurring financial charges | 65 | €1,488 | €1,297 | -€191 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €59,399 | €61,164 | +€1,765 | +3.0% |
| Income taxes | 67/77 | €20,886 | €21,596 | +€711 | +3.4% |
| Profit (loss) for the period | 9904 | €38,513 | €39,567 | +€1,054 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,513 | €39,567 | +€1,054 | +2.7% |
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 9 October 2026 via checked.be.