AL ADNAN: 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.
AL ADNAN
Largest movements
- Stocks and contracts +€55,312
up €55,312 (+683%), from €8,100 to €63,412
- Receivables within one year -€42,998
down €42,998 (-45.2%), from €95,145 to €52,147
of which Other amounts receivable: -€42,998
- Tangible fixed assets +€10,333
new in 2025: €10,333
- Cash +€7,456
up €7,456 (+41.4%), from €17,999 to €25,455
- Profit (loss) carried forward +€51,980
up €51,980 (+85.7%), from €60,662 to €112,642
- Tax, wage and social debts -€24,866
down €24,866 (-71.6%), from €34,741 to €9,875
of which Taxes: -€27,472
- Trade debts +€2,990
up €2,990 (+11.7%), from €25,510 to €28,500
- Gross operating margin +€26,455
up €26,455 (+85.1%), from €31,080 to €57,535
- Taxes +€4,525
new in 2025: €4,525
- Other operating charges +€2,689
up €2,689 (+22.7%), from €11,857 to €14,546
- Depreciation +€2,553
up €2,553 (+143%), from €1,780 to €4,333
- Staff costs +€1,957
up €1,957 (+32.9%), from €5,944 to €7,901
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,244 | €151,347 | +€30,104 | +24.8% |
| Fixed assets | 21/28 | - | €10,333 | +€10,333 | |
| Tangible fixed assets | 22/27 | - | €10,333 | +€10,333 | |
| Furniture and vehicles | 24 | - | €10,333 | +€10,333 | |
| Current assets | 29/58 | €121,244 | €141,014 | +€19,770 | +16.3% |
| Stocks and contracts in progress | 3 | €8,100 | €63,412 | +€55,312 | +683% |
| Stocks | 30/36 | €8,100 | €63,412 | +€55,312 | +683% |
| Amounts receivable within one year | 40/41 | €95,145 | €52,147 | -€42,998 | -45.2% |
| Trade receivables | 40 | €28,500 | €28,500 | = | 0.0% |
| Other amounts receivable | 41 | €66,645 | €23,647 | -€42,998 | -64.5% |
| Cash at bank and in hand | 54/58 | €17,999 | €25,455 | +€7,456 | +41.4% |
| Total equity and liabilities | 10/49 | €121,244 | €151,347 | +€30,104 | +24.8% |
| Equity | 10/15 | €60,992 | €112,972 | +€51,980 | +85.2% |
| Reserves | 13 | €330 | €330 | = | 0.0% |
| Non-distributable reserves | 130/1 | €330 | €330 | = | 0.0% |
| Reserves not available under the articles | 1311 | €330 | €330 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,662 | €112,642 | +€51,980 | +85.7% |
| Amounts payable | 17/49 | €60,251 | €38,375 | -€21,876 | -36.3% |
| Amounts payable within one year | 42/48 | €60,251 | €38,375 | -€21,876 | -36.3% |
| Trade debts | 44 | €25,510 | €28,500 | +€2,990 | +11.7% |
| Suppliers | 440/4 | €25,510 | €28,500 | +€2,990 | +11.7% |
| Taxes, remuneration and social security | 45 | €34,741 | €9,875 | -€24,866 | -71.6% |
| Taxes | 450/3 | €34,741 | €7,269 | -€27,472 | -79.1% |
| Remuneration and social security | 454/9 | - | €2,606 | +€2,606 | |
| Remuneration, social security and pensions | 62 | €5,944 | €7,901 | +€1,957 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,780 | €4,333 | +€2,553 | +143% |
| Other operating charges | 640/8 | €11,857 | €14,546 | +€2,689 | +22.7% |
| Gross operating margin | 9900 | €31,080 | €57,535 | +€26,455 | +85.1% |
| Operating profit (loss) | 9901 | €11,499 | €30,755 | +€19,256 | +167% |
| Financial charges | 65/66B | €698 | €1,485 | +€787 | +113% |
| Recurring financial charges | 65 | €698 | €1,485 | +€787 | +113% |
| Profit (loss) for the period before taxes | 9903 | €10,801 | €29,270 | +€18,468 | +171% |
| Income taxes | 67/77 | - | €4,525 | +€4,525 | |
| Profit (loss) for the period | 9904 | €10,801 | €24,744 | +€13,943 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €10,801 | €24,744 | +€13,943 | +129% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.