RENE ADAM: what changed
RENE ADAM
Largest movements
- Tangible fixed assets -€22,259
down €22,259 (-19.6%), from €113,701 to €91,442
of which Land and buildings: -€12,417
- Receivables within one year +€21,744
up €21,744 (+680%), from €3,197 to €24,941
of which Trade receivables: +€21,521
- Stocks and contracts -€7,031
down €7,031 (-24.0%), from €29,263 to €22,232
- Cash -€3,733
down €3,733 (-16.0%), from €23,338 to €19,606
mainly Receivables within one year (-€21,744) and Trade debts (-€12,693)
- Reserves +€17,741
up €17,741 (+710%), from €2,500 to €20,241
of which Distributable reserves: +€17,741
- Trade debts -€12,693
down €12,693 (-71.7%), from €17,713 to €5,020
- Debts after one year -€7,075
down €7,075 (-45.7%), from €15,484 to €8,409
- Current portion of long-term debt -€6,150
down €6,150 (-44.2%), from €13,929 to €7,780
- Advances received -€2,994
down €2,994 (-66.0%), from €4,534 to €1,540
- Gross operating margin +€40,222
up €40,222 (+55.9%), from €72,015 to €112,236
- Staff costs +€5,578
up €5,578 (+9.5%), from €58,759 to €64,337
- Taxes +€3,527
up €3,527 (+1,074%), from €328 to €3,855
- Financial income -€1,430
down €1,430 (-49.9%), from €2,867 to €1,437
- Other operating charges -€1,251
down €1,251 (-20.9%), from €5,988 to €4,737
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,203 | €160,229 | -€9,974 | -5.9% |
| Fixed assets | 21/28 | €113,802 | €91,543 | -€22,259 | -19.6% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €113,701 | €91,442 | -€22,259 | -19.6% |
| Land and buildings | 22 | €93,608 | €81,192 | -€12,417 | -13.3% |
| Furniture and vehicles | 24 | €20,093 | €10,250 | -€9,842 | -49.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €56,401 | €68,686 | +€12,285 | +21.8% |
| Stocks and contracts in progress | 3 | €29,263 | €22,232 | -€7,031 | -24.0% |
| Stocks | 30/36 | €29,263 | €22,232 | -€7,031 | -24.0% |
| Amounts receivable within one year | 40/41 | €3,197 | €24,941 | +€21,744 | +680% |
| Trade receivables | 40 | €3,197 | €24,718 | +€21,521 | +673% |
| Other amounts receivable | 41 | - | €223 | +€223 | |
| Cash at bank and in hand | 54/58 | €23,338 | €19,606 | -€3,733 | -16.0% |
| Deferred charges and accrued income | 490/1 | €602 | €1,907 | +€1,304 | +217% |
| Total equity and liabilities | 10/49 | €170,203 | €160,229 | -€9,974 | -5.9% |
| Equity | 10/15 | €75,652 | €92,014 | +€16,361 | +21.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €20,241 | +€17,741 | +710% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | - | €17,741 | +€17,741 | |
| Profit (loss) carried forward | 14 | €56,024 | €56,024 | = | 0.0% |
| Investment grants | 15 | €7,129 | €5,749 | -€1,380 | -19.4% |
| Amounts payable | 17/49 | €94,550 | €68,215 | -€26,335 | -27.9% |
| Amounts payable after more than one year | 17 | €15,484 | €8,409 | -€7,075 | -45.7% |
| Financial debts | 170/4 | €15,484 | €8,409 | -€7,075 | -45.7% |
| Amounts payable within one year | 42/48 | €79,066 | €59,806 | -€19,261 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €13,929 | €7,780 | -€6,150 | -44.2% |
| Trade debts | 44 | €17,713 | €5,020 | -€12,693 | -71.7% |
| Suppliers | 440/4 | €17,713 | €5,020 | -€12,693 | -71.7% |
| Advances received on contracts in progress | 46 | €4,534 | €1,540 | -€2,994 | -66.0% |
| Taxes, remuneration and social security | 45 | €25,651 | €27,047 | +€1,396 | +5.4% |
| Taxes | 450/3 | €23,153 | €22,987 | -€166 | -0.7% |
| Remuneration and social security | 454/9 | €2,498 | €4,060 | +€1,562 | +62.5% |
| Other amounts payable | 47/48 | €17,239 | €18,419 | +€1,180 | +6.8% |
| Remuneration, social security and pensions | 62 | €58,759 | €64,337 | +€5,578 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,313 | €22,259 | -€55 | -0.2% |
| Other operating charges | 640/8 | €5,988 | €4,737 | -€1,251 | -20.9% |
| Gross operating margin | 9900 | €72,015 | €112,236 | +€40,222 | +55.9% |
| Operating profit (loss) | 9901 | -€15,046 | €20,903 | +€35,950 | |
| Financial income | 75/76B | €2,867 | €1,437 | -€1,430 | -49.9% |
| Recurring financial income | 75 | €2,867 | €1,437 | -€1,430 | -49.9% |
| Financial charges | 65/66B | €1,271 | €744 | -€527 | -41.5% |
| Recurring financial charges | 65 | €1,271 | €744 | -€527 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,450 | €21,596 | +€35,046 | |
| Income taxes | 67/77 | €328 | €3,855 | +€3,527 | +1,074% |
| Profit (loss) for the period | 9904 | -€13,779 | €17,741 | +€31,519 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,779 | €17,741 | +€31,519 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.