ADREM Services: 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.
ADREM Services
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+98.2%), from €2.1m to €4.1m
of which Land and buildings: +€2.2m
- Cash -€101,751
down €101,751 (-82.7%), from €123,088 to €21,337
mainly Investment in fixed assets (net) (-€2.2m) and Other debts (-€750,000)
- Receivables within one year +€98,950
up €98,950 (+9.5%), from €1.0m to €1.1m
of which Trade receivables: +€166,136
- Intangible fixed assets -€76,237
down €76,237 (-47.0%), from €162,273 to €86,036
- Contributions +€1.4m
up €1.4m (+161.5%), from €872,107 to €2.3m
- Reserves +€1.1m
up €1.1m (+97.4%), from €1.1m to €2.2m
of which Distributable reserves: +€949,333
- Other debts -€750,000
no longer reported in 2025 (was €750,000)
- Trade debts +€186,782
up €186,782 (+124.6%), from €149,923 to €336,705
- Gross operating margin +€302,135
up €302,135 (+10.0%), from €3.0m to €3.3m
- Other operating charges +€146,696
up €146,696 (+603.0%), from €24,327 to €171,023
- Staff costs -€114,089
down €114,089 (-4.7%), from €2.4m to €2.3m
- Taxes +€74,233
up €74,233 (+74.2%), from €100,000 to €174,233
- Depreciation -€35,048
down €35,048 (-12.1%), from €290,672 to €255,624
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 | €3,662,043 | €5,636,445 | +€2.0m | +53.9% |
| Fixed assets | 21/28 | €2,245,122 | €4,213,315 | +€2.0m | +87.7% |
| Intangible fixed assets | 21 | €162,273 | €86,036 | -€76,237 | -47.0% |
| Tangible fixed assets | 22/27 | €2,082,849 | €4,127,279 | +€2.0m | +98.2% |
| Land and buildings | 22 | €765,690 | €2,935,746 | +€2.2m | +283.4% |
| Plant, machinery and equipment | 23 | €11,691 | - | -€11,691 | |
| Furniture and vehicles | 24 | €271,541 | €256,348 | -€15,193 | -5.6% |
| Other tangible fixed assets | 26 | €1,033,927 | €935,185 | -€98,742 | -9.6% |
| Current assets | 29/58 | €1,416,921 | €1,423,130 | +€6,209 | +0.4% |
| Amounts receivable within one year | 40/41 | €1,042,904 | €1,141,854 | +€98,950 | +9.5% |
| Trade receivables | 40 | €428,293 | €594,429 | +€166,136 | +38.8% |
| Other amounts receivable | 41 | €614,611 | €547,425 | -€67,186 | -10.9% |
| Cash at bank and in hand | 54/58 | €123,088 | €21,337 | -€101,751 | -82.7% |
| Deferred charges and accrued income | 490/1 | €250,928 | €259,939 | +€9,011 | +3.6% |
| Total equity and liabilities | 10/49 | €3,662,043 | €5,636,445 | +€2.0m | +53.9% |
| Equity | 10/15 | €2,335,562 | €4,841,793 | +€2.5m | +107.3% |
| Contributions | 10/11 | €872,107 | €2,280,478 | +€1.4m | +161.5% |
| Capital | 10 | €872,107 | €2,280,478 | +€1.4m | +161.5% |
| Issued capital | 100 | €872,107 | €2,280,478 | +€1.4m | +161.5% |
| Revaluation surpluses | 12 | €361,111 | €385,185 | +€24,074 | +6.7% |
| Reserves | 13 | €1,102,344 | €2,176,130 | +€1.1m | +97.4% |
| Non-distributable reserves | 130/1 | €88,393 | €134,309 | +€45,916 | +51.9% |
| Legal reserve | 130 | €87,211 | €133,237 | +€46,026 | +52.8% |
| Other | 1319 | €1,182 | €1,072 | -€110 | -9.3% |
| Tax-exempt reserves | 132 | €24,687 | €103,224 | +€78,537 | +318.1% |
| Distributable reserves | 133 | €989,264 | €1,938,597 | +€949,333 | +96.0% |
| Amounts payable | 17/49 | €1,326,481 | €794,652 | -€531,829 | -40.1% |
| Amounts payable within one year | 42/48 | €1,326,380 | €791,957 | -€534,423 | -40.3% |
| Trade debts | 44 | €149,923 | €336,705 | +€186,782 | +124.6% |
| Suppliers | 440/4 | €149,923 | €336,705 | +€186,782 | +124.6% |
| Taxes, remuneration and social security | 45 | €426,457 | €455,252 | +€28,795 | +6.8% |
| Taxes | 450/3 | €107,741 | €129,538 | +€21,797 | +20.2% |
| Remuneration and social security | 454/9 | €318,716 | €325,714 | +€6,998 | +2.2% |
| Other amounts payable | 47/48 | €750,000 | - | -€750,000 | |
| Accrued charges and deferred income | 492/3 | €101 | €2,695 | +€2,594 | +2573.6% |
| Non-recurring operating income | 76A | €15,092 | €24,935 | +€9,843 | +65.2% |
| Remuneration, social security and pensions | 62 | €2,416,390 | €2,302,301 | -€114,089 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,672 | €255,624 | -€35,048 | -12.1% |
| Other operating charges | 640/8 | €24,327 | €171,023 | +€146,696 | +603.0% |
| Gross operating margin | 9900 | €3,028,490 | €3,330,625 | +€302,135 | +10.0% |
| Operating profit (loss) | 9901 | €297,101 | €601,677 | +€304,576 | +102.5% |
| Financial income | 75/76B | €83 | €17,141 | +€17,058 | +20636.8% |
| Recurring financial income | 75 | €83 | €17,141 | +€17,058 | +20636.8% |
| Financial charges | 65/66B | €1,822 | €1,408 | -€414 | -22.7% |
| Recurring financial charges | 65 | €1,822 | €1,408 | -€414 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €295,362 | €617,410 | +€322,048 | +109.0% |
| Transfer from deferred taxes | 780 | €14,817 | - | -€14,817 | |
| Income taxes | 67/77 | €100,000 | €174,233 | +€74,233 | +74.2% |
| Profit (loss) for the period | 9904 | €210,179 | €443,177 | +€232,998 | +110.9% |
| Transfer from tax-exempt reserves | 789 | €44,451 | €20,643 | -€23,808 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €254,630 | €463,820 | +€209,190 | +82.2% |
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 10 October 2026 via checked.be.