J. Aadel: 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.
J. Aadel
Largest movements
- Receivables within one year +€122,394
up €122,394 (+171%), from €71,384 to €193,778
of which Other amounts receivable: +€115,728
- Cash -€19,894
down €19,894 (-98.7%), from €20,164 to €270
mainly Receivables within one year (-€122,394)
- Profit (loss) carried forward +€89,146
up €89,146 (+21,889%), from €407 to €89,554
- Trade debts +€8,288
up €8,288 (+1,268%), from €654 to €8,942
- Tax, wage and social debts +€4,172
up €4,172 (+10.2%), from €40,928 to €45,100
- Gross operating margin +€61,196
up €61,196 (+124%), from €49,514 to €110,710
- Taxes +€13,379
up €13,379 (+104%), from €12,825 to €26,204
- Other operating charges +€2,250
up €2,250 (+23,485%), from €10 to €2,259
- Financial charges -€1,949
down €1,949 (-91.9%), from €2,120 to €171
- Financial income +€1,634
up €1,634 (+26.6%), from €6,144 to €7,778
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 | €199,649 | €301,442 | +€101,793 | +51.0% |
| Fixed assets | 21/28 | €981 | €274 | -€707 | -72.1% |
| Tangible fixed assets | 22/27 | €981 | €274 | -€707 | -72.1% |
| Furniture and vehicles | 24 | €981 | €274 | -€707 | -72.1% |
| Current assets | 29/58 | €198,668 | €301,168 | +€102,500 | +51.6% |
| Amounts receivable after more than one year | 29 | €104,000 | €104,000 | = | 0.0% |
| Other amounts receivable | 291 | €104,000 | €104,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €71,384 | €193,778 | +€122,394 | +171% |
| Trade receivables | 40 | €2,277 | €8,943 | +€6,666 | +293% |
| Other amounts receivable | 41 | €69,107 | €184,835 | +€115,728 | +167% |
| Cash at bank and in hand | 54/58 | €20,164 | €270 | -€19,894 | -98.7% |
| Deferred charges and accrued income | 490/1 | €3,120 | €3,120 | = | 0.0% |
| Total equity and liabilities | 10/49 | €199,649 | €301,442 | +€101,793 | +51.0% |
| Equity | 10/15 | €158,067 | €247,214 | +€89,146 | +56.4% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €156,460 | €156,460 | = | 0.0% |
| Distributable reserves | 133 | €156,460 | €156,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €407 | €89,554 | +€89,146 | +21,889% |
| Amounts payable | 17/49 | €41,582 | €54,229 | +€12,647 | +30.4% |
| Amounts payable within one year | 42/48 | €41,582 | €54,042 | +€12,460 | +30.0% |
| Trade debts | 44 | €654 | €8,942 | +€8,288 | +1,268% |
| Suppliers | 440/4 | €654 | €8,942 | +€8,288 | +1,268% |
| Taxes, remuneration and social security | 45 | €40,928 | €45,100 | +€4,172 | +10.2% |
| Taxes | 450/3 | €40,928 | €45,100 | +€4,172 | +10.2% |
| Accrued charges and deferred income | 492/3 | - | €187 | +€187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €694 | €707 | +€13 | +1.9% |
| Other operating charges | 640/8 | €10 | €2,259 | +€2,250 | +23,485% |
| Gross operating margin | 9900 | €49,514 | €110,710 | +€61,196 | +124% |
| Operating profit (loss) | 9901 | €48,811 | €107,744 | +€58,933 | +121% |
| Financial income | 75/76B | €6,144 | €7,778 | +€1,634 | +26.6% |
| Recurring financial income | 75 | €6,144 | €7,778 | +€1,634 | +26.6% |
| Financial charges | 65/66B | €2,120 | €171 | -€1,949 | -91.9% |
| Recurring financial charges | 65 | €2,120 | €171 | -€1,949 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | €52,835 | €115,350 | +€62,516 | +118% |
| Income taxes | 67/77 | €12,825 | €26,204 | +€13,379 | +104% |
| Profit (loss) for the period | 9904 | €40,009 | €89,146 | +€49,137 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €40,009 | €89,146 | +€49,137 | +123% |
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 13 October 2026 via checked.be.