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
- Current investments -€19,766
down €19,766 (-21.1%), from €93,516 to €73,750
- Tangible fixed assets +€6,256
up €6,256 (+7.1%), from €87,564 to €93,820
of which Land and buildings: +€5,719
- Profit (loss) carried forward -€5,812
down €5,812 (-2.9%), from €198,662 to €192,850
- Gross operating margin -€361,058
down €361,058, from €354,280 to -€6,778
- Taxes -€81,100
down €81,100 (-99.7%), from €81,328 to €228
- Depreciation -€76,857
down €76,857 (-97.4%), from €78,888 to €2,031
- Financial charges -€4,963
down €4,963 (-98.4%), from €5,044 to €82
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 | €522,520 | €515,691 | -€6,830 | -1.3% |
| Fixed assets | 21/28 | €87,564 | €93,820 | +€6,256 | +7.1% |
| Tangible fixed assets | 22/27 | €87,564 | €93,820 | +€6,256 | +7.1% |
| Land and buildings | 22 | €85,008 | €90,727 | +€5,719 | +6.7% |
| Furniture and vehicles | 24 | €2,557 | €3,093 | +€537 | +21.0% |
| Current assets | 29/58 | €434,956 | €421,870 | -€13,086 | -3.0% |
| Amounts receivable within one year | 40/41 | €14,752 | €16,963 | +€2,212 | +15.0% |
| Trade receivables | 40 | €1,105 | €2,432 | +€1,327 | +120% |
| Other amounts receivable | 41 | €13,646 | €14,531 | +€885 | +6.5% |
| Current investments | 50/53 | €93,516 | €73,750 | -€19,766 | -21.1% |
| Cash at bank and in hand | 54/58 | €245,224 | €248,062 | +€2,838 | +1.2% |
| Deferred charges and accrued income | 490/1 | €81,465 | €83,095 | +€1,630 | +2.0% |
| Total equity and liabilities | 10/49 | €522,520 | €515,691 | -€6,830 | -1.3% |
| Equity | 10/15 | €498,755 | €492,943 | -€5,812 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €281,493 | €281,493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €279,633 | €279,633 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,662 | €192,850 | -€5,812 | -2.9% |
| Amounts payable | 17/49 | €23,766 | €22,747 | -€1,018 | -4.3% |
| Amounts payable within one year | 42/48 | €23,766 | €22,747 | -€1,018 | -4.3% |
| Trade debts | 44 | €2,999 | €2,194 | -€805 | -26.8% |
| Suppliers | 440/4 | €2,999 | €2,194 | -€805 | -26.8% |
| Taxes, remuneration and social security | 45 | €20,767 | €20,553 | -€213 | -1.0% |
| Taxes | 450/3 | €20,767 | €20,553 | -€213 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,888 | €2,031 | -€76,857 | -97.4% |
| Other operating charges | 640/8 | €750 | €884 | +€134 | +17.9% |
| Gross operating margin | 9900 | €354,280 | -€6,778 | -€361,058 | |
| Operating profit (loss) | 9901 | €274,642 | -€9,692 | -€284,335 | |
| Financial income | 75/76B | €1,930 | €4,190 | +€2,260 | +117% |
| Recurring financial income | 75 | €1,930 | €4,190 | +€2,260 | +117% |
| Financial charges | 65/66B | €5,044 | €82 | -€4,963 | -98.4% |
| Recurring financial charges | 65 | €5,044 | €82 | -€4,963 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €271,528 | -€5,584 | -€277,112 | |
| Income taxes | 67/77 | €81,328 | €228 | -€81,100 | -99.7% |
| Profit (loss) for the period | 9904 | €190,200 | -€5,812 | -€196,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €190,200 | -€5,812 | -€196,012 |
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.