A.D.C.: 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.
A.D.C.
Largest movements
- Tangible fixed assets -€124,147
down €124,147 (-4.5%), from €2.8m to €2.7m
of which Land and buildings: -€117,540
- Cash +€43,121
up €43,121 (+135%), from €32,021 to €75,141
mainly Depreciation (+€146,953) and Net result for the year (+€22,003)
- Other debts -€45,917
down €45,917 (-100%), from €45,917 to €0
- Financial income -€21,538
down €21,538 (-99.8%), from €21,570 to €32
of which Non-recurring financial income: -€21,570
- Gross operating margin -€19,831
down €19,831 (-7.2%), from €276,279 to €256,448
- Taxes -€13,685
down €13,685 (-31.5%), from €43,453 to €29,768
- Other operating charges -€4,542
down €4,542 (-18.2%), from €24,924 to €20,382
- Staff costs +€2,804
up €2,804 (+6.0%), from €46,459 to €49,263
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 | €2,817,749 | €2,756,229 | -€61,520 | -2.2% |
| Fixed assets | 21/28 | €2,777,605 | €2,653,458 | -€124,147 | -4.5% |
| Tangible fixed assets | 22/27 | €2,777,605 | €2,653,458 | -€124,147 | -4.5% |
| Land and buildings | 22 | €2,692,756 | €2,575,216 | -€117,540 | -4.4% |
| Plant, machinery and equipment | 23 | €57,320 | €64,011 | +€6,691 | +11.7% |
| Furniture and vehicles | 24 | €27,529 | €14,231 | -€13,298 | -48.3% |
| Current assets | 29/58 | €40,144 | €102,771 | +€62,627 | +156% |
| Amounts receivable within one year | 40/41 | €7,614 | €27,629 | +€20,016 | +263% |
| Trade receivables | 40 | €1,643 | €11,365 | +€9,723 | +592% |
| Other amounts receivable | 41 | €5,971 | €16,264 | +€10,293 | +172% |
| Cash at bank and in hand | 54/58 | €32,021 | €75,141 | +€43,121 | +135% |
| Deferred charges and accrued income | 490/1 | €510 | €0 | -€510 | -100% |
| Total equity and liabilities | 10/49 | €2,817,749 | €2,756,229 | -€61,520 | -2.2% |
| Equity | 10/15 | €2,388,730 | €2,410,733 | +€22,003 | +0.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €2,313,730 | €2,335,733 | +€22,003 | +1.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €967,432 | €925,807 | -€41,625 | -4.3% |
| Distributable reserves | 133 | €1,338,798 | €1,402,426 | +€63,628 | +4.8% |
| Provisions and deferred taxes | 16 | €322,477 | €308,602 | -€13,875 | -4.3% |
| Deferred taxes | 168 | €322,477 | €308,602 | -€13,875 | -4.3% |
| Amounts payable | 17/49 | €106,542 | €36,894 | -€69,648 | -65.4% |
| Amounts payable after more than one year | 17 | €14,550 | €10,180 | -€4,370 | -30.0% |
| Other amounts payable | 178/9 | €14,550 | €10,180 | -€4,370 | -30.0% |
| Amounts payable within one year | 42/48 | €89,642 | €18,754 | -€70,888 | -79.1% |
| Trade debts | 44 | €29,100 | €8,267 | -€20,833 | -71.6% |
| Suppliers | 440/4 | €29,100 | €8,267 | -€20,833 | -71.6% |
| Taxes, remuneration and social security | 45 | €14,625 | €10,486 | -€4,139 | -28.3% |
| Taxes | 450/3 | €9,089 | €4,837 | -€4,252 | -46.8% |
| Remuneration and social security | 454/9 | €5,536 | €5,650 | +€113 | +2.0% |
| Other amounts payable | 47/48 | €45,917 | €0 | -€45,917 | -100% |
| Accrued charges and deferred income | 492/3 | €2,350 | €7,960 | +€5,610 | +239% |
| Non-recurring operating income | 76A | €0 | €19,975 | +€19,975 | |
| Remuneration, social security and pensions | 62 | €46,459 | €49,263 | +€2,804 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,689 | €146,953 | -€735 | -0.5% |
| Other operating charges | 640/8 | €24,924 | €20,382 | -€4,542 | -18.2% |
| Gross operating margin | 9900 | €276,279 | €256,448 | -€19,831 | -7.2% |
| Operating profit (loss) | 9901 | €57,207 | €39,850 | -€17,357 | -30.3% |
| Financial income | 75/76B | €21,570 | €32 | -€21,538 | -99.8% |
| Recurring financial income | 75 | €0 | €32 | +€32 | +8,228% |
| Non-recurring financial income | 76B | €21,570 | €0 | -€21,570 | -100% |
| Financial charges | 65/66B | €3,441 | €1,986 | -€1,455 | -42.3% |
| Recurring financial charges | 65 | €3,441 | €1,986 | -€1,455 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €75,335 | €37,896 | -€37,440 | -49.7% |
| Transfer from deferred taxes | 780 | €13,875 | €13,875 | = | 0.0% |
| Income taxes | 67/77 | €43,453 | €29,768 | -€13,685 | -31.5% |
| Profit (loss) for the period | 9904 | €45,757 | €22,003 | -€23,755 | -51.9% |
| Transfer from tax-exempt reserves | 789 | €41,625 | €41,625 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,382 | €63,628 | -€23,755 | -27.2% |
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.