L'Adam: 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.
L'Adam
Largest movements
- Receivables within one year +€17,246
up €17,246 (+15.4%), from €111,847 to €129,093
- Cash -€10,472
down €10,472 (-10.0%), from €104,251 to €93,780
mainly Receivables within one year (-€17,246)
- Profit (loss) carried forward +€2,961
up €2,961 (+1.1%), from €262,634 to €265,595
- Financial income -€67,795
down €67,795 (-85.4%), from €79,416 to €11,621
of which Non-recurring financial income: -€73,828
- Gross operating margin -€57,613
down €57,613, from €52,544 to -€5,069
- Taxes -€12,156
down €12,156 (-92.0%), from €13,209 to €1,053
- Other operating charges -€10,573
down €10,573 (-96.2%), from €10,985 to €412
- Financial charges -€5,306
down €5,306 (-94.8%), from €5,597 to €290
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 | €281,343 | €285,428 | +€4,085 | +1.5% |
| Fixed assets | 21/28 | €1,835 | - | -€1,835 | |
| Tangible fixed assets | 22/27 | €1,835 | - | -€1,835 | |
| Plant, machinery and equipment | 23 | €1,835 | - | -€1,835 | |
| Current assets | 29/58 | €279,507 | €285,428 | +€5,920 | +2.1% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,847 | €129,093 | +€17,246 | +15.4% |
| Other amounts receivable | 41 | €111,847 | €129,093 | +€17,246 | +15.4% |
| Current investments | 50/53 | €43,409 | €42,555 | -€854 | -2.0% |
| Cash at bank and in hand | 54/58 | €104,251 | €93,780 | -€10,472 | -10.0% |
| Total equity and liabilities | 10/49 | €281,343 | €285,428 | +€4,085 | +1.5% |
| Equity | 10/15 | €267,634 | €270,595 | +€2,961 | +1.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262,634 | €265,595 | +€2,961 | +1.1% |
| Amounts payable | 17/49 | €13,708 | €14,833 | +€1,124 | +8.2% |
| Amounts payable within one year | 42/48 | €13,708 | €14,833 | +€1,124 | +8.2% |
| Trade debts | 44 | €499 | €570 | +€71 | +14.2% |
| Suppliers | 440/4 | €499 | €570 | +€71 | +14.2% |
| Taxes, remuneration and social security | 45 | €13,209 | €14,263 | +€1,053 | +8.0% |
| Taxes | 450/3 | €13,209 | €14,263 | +€1,053 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,151 | €1,835 | -€316 | -14.7% |
| Other operating charges | 640/8 | €10,985 | €412 | -€10,573 | -96.2% |
| Gross operating margin | 9900 | €52,544 | -€5,069 | -€57,613 | |
| Operating profit (loss) | 9901 | €39,409 | -€7,316 | -€46,724 | |
| Financial income | 75/76B | €79,416 | €11,621 | -€67,795 | -85.4% |
| Recurring financial income | 75 | €5,588 | €11,621 | +€6,032 | +108% |
| Non-recurring financial income | 76B | €73,828 | - | -€73,828 | |
| Financial charges | 65/66B | €5,597 | €290 | -€5,306 | -94.8% |
| Recurring financial charges | 65 | €5,597 | €290 | -€5,306 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €113,228 | €4,014 | -€109,213 | -96.5% |
| Income taxes | 67/77 | €13,209 | €1,053 | -€12,156 | -92.0% |
| Profit (loss) for the period | 9904 | €100,018 | €2,961 | -€97,057 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,018 | €2,961 | -€97,057 | -97.0% |
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 17 October 2026 via checked.be.