A.D.G.: what changed
Two fiscal 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.G.
Largest movements
- Tangible fixed assets +€18,444
up €18,444 (+8.3%), from €222,567 to €241,011
of which Other tangible fixed assets: +€28,523
- Current investments +€18,000
up €18,000 (+22.2%), from €81,069 to €99,069
- Cash -€16,156
down €16,156 (-19.1%), from €84,412 to €68,257
mainly Investment in fixed assets (net) (-€35,611) and Current investments (-€18,000)
- Reserves +€19,874
up €19,874 (+5.3%), from €373,034 to €392,908
of which Distributable reserves: +€19,874
- Depreciation +€2,381
up €2,381 (+16.1%), from €14,786 to €17,167
- Financial income +€1,719
up €1,719 (+195.0%), from €882 to €2,601
- Other operating charges -€1,072
down €1,072 (-18.4%), from €5,823 to €4,751
- Gross operating margin +€1,016
up €1,016 (+2.1%), from €47,902 to €48,919
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.
Cash bridge derived
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 | €440,729 | €461,546 | +€20,817 | +4.7% |
| Fixed assets | 21/28 | €223,118 | €241,561 | +€18,444 | +8.3% |
| Tangible fixed assets | 22/27 | €222,567 | €241,011 | +€18,444 | +8.3% |
| Land and buildings | 22 | €175,032 | €165,589 | -€9,444 | -5.4% |
| Plant, machinery and equipment | 23 | €636 | - | -€636 | |
| Other tangible fixed assets | 26 | €46,899 | €75,422 | +€28,523 | +60.8% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €217,611 | €219,985 | +€2,373 | +1.1% |
| Amounts receivable within one year | 40/41 | €49,357 | €49,790 | +€433 | +0.9% |
| Other amounts receivable | 41 | €49,357 | €49,790 | +€433 | +0.9% |
| Current investments | 50/53 | €81,069 | €99,069 | +€18,000 | +22.2% |
| Cash at bank and in hand | 54/58 | €84,412 | €68,257 | -€16,156 | -19.1% |
| Deferred charges and accrued income | 490/1 | €2,773 | €2,869 | +€97 | +3.5% |
| Total equity and liabilities | 10/49 | €440,729 | €461,546 | +€20,817 | +4.7% |
| Equity | 10/15 | €435,034 | €454,908 | +€19,874 | +4.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €373,034 | €392,908 | +€19,874 | +5.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €366,834 | €386,708 | +€19,874 | +5.4% |
| Amounts payable | 17/49 | €5,695 | €6,638 | +€943 | +16.6% |
| Amounts payable within one year | 42/48 | €5,695 | €6,638 | +€943 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €5,073 | €5,000 | -€73 | -1.4% |
| Trade debts | 44 | €622 | €1,638 | +€1,016 | +163.4% |
| Suppliers | 440/4 | €622 | €1,638 | +€1,016 | +163.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,786 | €17,167 | +€2,381 | +16.1% |
| Other operating charges | 640/8 | €5,823 | €4,751 | -€1,072 | -18.4% |
| Gross operating margin | 9900 | €47,902 | €48,919 | +€1,016 | +2.1% |
| Operating profit (loss) | 9901 | €27,294 | €27,001 | -€292 | -1.1% |
| Financial income | 75/76B | €882 | €2,601 | +€1,719 | +195.0% |
| Recurring financial income | 75 | €882 | €2,601 | +€1,719 | +195.0% |
| Financial charges | 65/66B | €572 | €454 | -€118 | -20.6% |
| Recurring financial charges | 65 | €572 | €454 | -€118 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €27,604 | €29,148 | +€1,545 | +5.6% |
| Income taxes | 67/77 | €8,803 | €9,274 | +€472 | +5.4% |
| Profit (loss) for the period | 9904 | €18,801 | €19,874 | +€1,073 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,801 | €19,874 | +€1,073 | +5.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.