DE ADELAAR: what changed
Two fiscal 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.
DE ADELAAR
Largest movements
- Stocks and contracts -€5,847
down €5,847 (-11.3%), from €51,731 to €45,884
- Cash -€5,770
down €5,770 (-42.3%), from €13,632 to €7,862
mainly Debts after one year (-€7,772) and Tax, wage and social debts (-€7,376)
- Tangible fixed assets -€3,909
down €3,909 (-4.3%), from €90,310 to €86,402
- Debts after one year -€7,772
down €7,772 (-100.0%), from €7,772 to €0
- Tax, wage and social debts -€7,376
down €7,376 (-90.2%), from €8,176 to €800
- Gross operating margin -€9,549
down €9,549 (-44.0%), from €21,709 to €12,160
- Taxes -€1,351
down €1,351 (-71.9%), from €1,878 to €528
- Financial charges -€857
down €857 (-49.9%), from €1,718 to €861
- Other operating charges +€838
up €838 (+18.1%), from €4,623 to €5,462
- Write-downs +€385
up €385, from -€385 to €0
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 | €159,747 | €143,786 | -€15,961 | -10.0% |
| Fixed assets | 21/28 | €90,310 | €86,402 | -€3,909 | -4.3% |
| Tangible fixed assets | 22/27 | €90,310 | €86,402 | -€3,909 | -4.3% |
| Land and buildings | 22 | €90,310 | €86,402 | -€3,909 | -4.3% |
| Current assets | 29/58 | €69,436 | €57,384 | -€12,052 | -17.4% |
| Stocks and contracts in progress | 3 | €51,731 | €45,884 | -€5,847 | -11.3% |
| Stocks | 30/36 | €51,731 | €45,884 | -€5,847 | -11.3% |
| Amounts receivable within one year | 40/41 | €1,707 | €2,326 | +€619 | +36.3% |
| Trade receivables | 40 | €1,707 | €0 | -€1,707 | -100.0% |
| Other amounts receivable | 41 | €0 | €2,326 | +€2,326 | |
| Cash at bank and in hand | 54/58 | €13,632 | €7,862 | -€5,770 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,367 | €1,313 | -€1,054 | -44.5% |
| Total equity and liabilities | 10/49 | €159,747 | €143,786 | -€15,961 | -10.0% |
| Equity | 10/15 | €130,856 | €132,257 | +€1,401 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,256 | €113,657 | +€1,401 | +1.2% |
| Distributable reserves | 133 | €112,256 | €113,657 | +€1,401 | +1.2% |
| Amounts payable | 17/49 | €28,891 | €11,529 | -€17,362 | -60.1% |
| Amounts payable after more than one year | 17 | €7,772 | €0 | -€7,772 | -100.0% |
| Financial debts | 170/4 | €7,772 | €0 | -€7,772 | -100.0% |
| Amounts payable within one year | 42/48 | €21,119 | €11,419 | -€9,700 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €8,346 | €7,772 | -€573 | -6.9% |
| Trade debts | 44 | €3,197 | €2,847 | -€350 | -10.9% |
| Suppliers | 440/4 | €3,197 | €2,847 | -€350 | -10.9% |
| Taxes, remuneration and social security | 45 | €8,176 | €800 | -€7,376 | -90.2% |
| Taxes | 450/3 | €8,176 | €800 | -€7,376 | -90.2% |
| Other amounts payable | 47/48 | €1,400 | €0 | -€1,400 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Non-recurring operating income | 76A | €0 | €3,400 | +€3,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,909 | €3,909 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€385 | €0 | +€385 | |
| Other operating charges | 640/8 | €4,623 | €5,462 | +€838 | +18.1% |
| Gross operating margin | 9900 | €21,709 | €12,160 | -€9,549 | -44.0% |
| Operating profit (loss) | 9901 | €13,562 | €2,790 | -€10,773 | -79.4% |
| Financial income | 75/76B | €49 | €1 | -€49 | -98.9% |
| Recurring financial income | 75 | €49 | €1 | -€49 | -98.9% |
| Financial charges | 65/66B | €1,718 | €861 | -€857 | -49.9% |
| Recurring financial charges | 65 | €1,718 | €861 | -€857 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €11,894 | €1,929 | -€9,965 | -83.8% |
| Income taxes | 67/77 | €1,878 | €528 | -€1,351 | -71.9% |
| Profit (loss) for the period | 9904 | €10,015 | €1,401 | -€8,614 | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,015 | €1,401 | -€8,614 | -86.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.