ADEX: 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.
ADEX
Largest movements
- Receivables within one year -€50,375
no longer reported in 2025 (was €50,375)
- Cash +€14,986
up €14,986 (+63.7%), from €23,535 to €38,520
mainly Net result for the year (+€58,384) and Receivables within one year (+€50,375)
- Other debts -€35,389
down €35,389 (-21.0%), from €168,773 to €133,384
- Financial income -€375
down €375 (-0.6%), from €60,375 to €60,000
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €173,035 | €137,645 | -€35,389 | -20.5% |
| Fixed assets | 21/28 | €99,125 | €99,125 | = | 0.0% |
| Financial fixed assets | 28 | €99,125 | €99,125 | = | 0.0% |
| Current assets | 29/58 | €73,910 | €38,520 | -€35,389 | -47.9% |
| Amounts receivable within one year | 40/41 | €50,375 | - | -€50,375 | |
| Other amounts receivable | 41 | €50,375 | - | -€50,375 | |
| Cash at bank and in hand | 54/58 | €23,535 | €38,520 | +€14,986 | +63.7% |
| Total equity and liabilities | 10/49 | €173,035 | €137,645 | -€35,389 | -20.5% |
| Equity | 10/15 | €4,000 | €4,000 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Amounts payable | 17/49 | €169,035 | €133,645 | -€35,389 | -20.9% |
| Amounts payable within one year | 42/48 | €169,035 | €133,645 | -€35,389 | -20.9% |
| Trade debts | 44 | €262 | €262 | = | 0.0% |
| Suppliers | 440/4 | €262 | €262 | = | 0.0% |
| Other amounts payable | 47/48 | €168,773 | €133,384 | -€35,389 | -21.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€1,110 | -€1,112 | -€2 | -0.2% |
| Operating profit (loss) | 9901 | -€1,498 | -€1,512 | -€14 | -1.0% |
| Financial income | 75/76B | €60,375 | €60,000 | -€375 | -0.6% |
| Recurring financial income | 75 | €60,375 | €60,000 | -€375 | -0.6% |
| Financial charges | 65/66B | €104 | €104 | = | 0.0% |
| Recurring financial charges | 65 | €104 | €104 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €58,773 | €58,384 | -€389 | -0.7% |
| Profit (loss) for the period | 9904 | €58,773 | €58,384 | -€389 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,773 | €58,384 | -€389 | -0.7% |
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 29 October 2026 via checked.be.