ADRINALIM: 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.
ADRINALIM
Largest movements
- Receivables within one year +€249,752
up €249,752 (+277%), from €90,057 to €339,809
of which Other amounts receivable: +€268,812
- Cash -€12,579
down €12,579 (-55.8%), from €22,555 to €9,976
mainly Receivables within one year (-€249,752) and Other debts (-€100,085)
- Short-term financial debts +€361,749
up €361,749 (+329%), from €110,000 to €471,749
- Other debts -€100,085
down €100,085 (-100%), from €100,085 to €0
- Debts after one year -€30,076
down €30,076 (-40.2%), from €74,906 to €44,830
of which Financial debts: -€30,076
- Trade debts +€24,316
up €24,316 (+257%), from €9,458 to €33,774
- Profit (loss) carried forward -€20,073
down €20,073 (-13.0%), from €154,639 to €134,565
- Gross operating margin -€10,391
down €10,391, from €9,787 to -€604
- Financial charges +€8,014
up €8,014 (+80.6%), from €9,940 to €17,954
- Taxes +€1,711
up €1,711, from -€1,674 to €37
- Other operating charges +€579
up €579 (+64.4%), from €899 to €1,478
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 | €603,229 | €840,403 | +€237,174 | +39.3% |
| Fixed assets | 21/28 | €490,618 | €490,618 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €490,618 | €490,618 | = | 0.0% |
| Current assets | 29/58 | €112,611 | €349,785 | +€237,174 | +211% |
| Amounts receivable within one year | 40/41 | €90,057 | €339,809 | +€249,752 | +277% |
| Trade receivables | 40 | €19,060 | - | -€19,060 | |
| Other amounts receivable | 41 | €70,997 | €339,809 | +€268,812 | +379% |
| Cash at bank and in hand | 54/58 | €22,555 | €9,976 | -€12,579 | -55.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €603,229 | €840,403 | +€237,174 | +39.3% |
| Equity | 10/15 | €276,139 | €256,065 | -€20,073 | -7.3% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Reserves | 13 | €88,500 | €88,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €88,500 | €88,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,639 | €134,565 | -€20,073 | -13.0% |
| Amounts payable | 17/49 | €327,090 | €584,337 | +€257,247 | +78.6% |
| Amounts payable after more than one year | 17 | €74,906 | €44,830 | -€30,076 | -40.2% |
| Financial debts | 170/4 | €74,906 | €44,830 | -€30,076 | -40.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €248,382 | €535,599 | +€287,217 | +116% |
| Current portion of amounts payable after more than one year | 42 | €28,839 | €30,076 | +€1,237 | +4.3% |
| Financial debts | 43 | €110,000 | €471,749 | +€361,749 | +329% |
| Other loans | 439 | €110,000 | €471,749 | +€361,749 | +329% |
| Trade debts | 44 | €9,458 | €33,774 | +€24,316 | +257% |
| Suppliers | 440/4 | €9,458 | €33,774 | +€24,316 | +257% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €100,085 | €0 | -€100,085 | -100% |
| Accrued charges and deferred income | 492/3 | €3,802 | €3,909 | +€107 | +2.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €899 | €1,478 | +€579 | +64.4% |
| Gross operating margin | 9900 | €9,787 | -€604 | -€10,391 | |
| Operating profit (loss) | 9901 | €8,888 | -€2,082 | -€10,970 | |
| Financial charges | 65/66B | €9,940 | €17,954 | +€8,014 | +80.6% |
| Recurring financial charges | 65 | €9,940 | €17,954 | +€8,014 | +80.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,052 | -€20,036 | -€18,984 | -1,804% |
| Income taxes | 67/77 | -€1,674 | €37 | +€1,711 | |
| Profit (loss) for the period | 9904 | €621 | -€20,073 | -€20,695 | |
| Profit (loss) for the period to be appropriated | 9905 | €621 | -€20,073 | -€20,695 |
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 23 October 2026 via checked.be.