AD&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.
AD&C°
Largest movements
- Receivables within one year +€48,188
up €48,188 (+54.0%), from €89,261 to €137,448
of which Trade receivables: +€29,846
- Tangible fixed assets -€20,058
down €20,058 (-7.1%), from €284,106 to €264,048
of which Land and buildings: -€25,216
- Debts after one year -€30,687
down €30,687 (-21.1%), from €145,207 to €114,519
- Reserves +€24,096
up €24,096 (+22.1%), from €108,948 to €133,044
- Tax, wage and social debts +€14,620
up €14,620 (+35.2%), from €41,588 to €56,209
of which Remuneration and social security: +€15,475
- Short-term financial debts +€11,086
up €11,086 (+177%), from €6,267 to €17,353
- Trade debts +€4,967
up €4,967 (+14.9%), from €33,275 to €38,242
- Gross operating margin +€74,999
up €74,999 (+33.9%), from €221,411 to €296,409
- Staff costs +€56,334
up €56,334 (+35.3%), from €159,415 to €215,749
- Taxes +€11,326
up €11,326 (+137%), from €8,250 to €19,576
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 | €387,771 | €414,556 | +€26,786 | +6.9% |
| Fixed assets | 21/28 | €284,106 | €264,048 | -€20,058 | -7.1% |
| Tangible fixed assets | 22/27 | €284,106 | €264,048 | -€20,058 | -7.1% |
| Land and buildings | 22 | €273,345 | €248,129 | -€25,216 | -9.2% |
| Plant, machinery and equipment | 23 | €210 | €7,680 | +€7,470 | +3,565% |
| Furniture and vehicles | 24 | €10,551 | €8,239 | -€2,312 | -21.9% |
| Current assets | 29/58 | €103,665 | €150,508 | +€46,844 | +45.2% |
| Amounts receivable within one year | 40/41 | €89,261 | €137,448 | +€48,188 | +54.0% |
| Trade receivables | 40 | €50,261 | €80,107 | +€29,846 | +59.4% |
| Other amounts receivable | 41 | €39,000 | €57,341 | +€18,341 | +47.0% |
| Cash at bank and in hand | 54/58 | €14,404 | €13,060 | -€1,344 | -9.3% |
| Total equity and liabilities | 10/49 | €387,771 | €414,556 | +€26,786 | +6.9% |
| Equity | 10/15 | €127,548 | €151,644 | +€24,096 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,948 | €133,044 | +€24,096 | +22.1% |
| Distributable reserves | 133 | €108,948 | €133,044 | +€24,096 | +22.1% |
| Amounts payable | 17/49 | €260,223 | €262,912 | +€2,689 | +1.0% |
| Amounts payable after more than one year | 17 | €145,207 | €114,519 | -€30,687 | -21.1% |
| Financial debts | 170/4 | €145,207 | €114,519 | -€30,687 | -21.1% |
| Amounts payable within one year | 42/48 | €114,729 | €148,393 | +€33,664 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €33,599 | €36,590 | +€2,991 | +8.9% |
| Financial debts | 43 | €6,267 | €17,353 | +€11,086 | +177% |
| Credit institutions | 430/8 | €6,267 | €17,353 | +€11,086 | +177% |
| Trade debts | 44 | €33,275 | €38,242 | +€4,967 | +14.9% |
| Suppliers | 440/4 | €33,275 | €38,242 | +€4,967 | +14.9% |
| Taxes, remuneration and social security | 45 | €41,588 | €56,209 | +€14,620 | +35.2% |
| Taxes | 450/3 | €23,336 | €22,482 | -€855 | -3.7% |
| Remuneration and social security | 454/9 | €18,252 | €33,727 | +€15,475 | +84.8% |
| Accrued charges and deferred income | 492/3 | €287 | - | -€287 | |
| Remuneration, social security and pensions | 62 | €159,415 | €215,749 | +€56,334 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,199 | €28,142 | -€1,057 | -3.6% |
| Other operating charges | 640/8 | €1,636 | €1,450 | -€185 | -11.3% |
| Gross operating margin | 9900 | €221,411 | €296,409 | +€74,999 | +33.9% |
| Operating profit (loss) | 9901 | €31,160 | €51,068 | +€19,908 | +63.9% |
| Financial income | 75/76B | €43 | €0 | -€42 | -99.2% |
| Recurring financial income | 75 | €43 | €0 | -€42 | -99.2% |
| Financial charges | 65/66B | €7,933 | €7,396 | -€537 | -6.8% |
| Recurring financial charges | 65 | €7,933 | €7,396 | -€537 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €23,270 | €43,673 | +€20,403 | +87.7% |
| Income taxes | 67/77 | €8,250 | €19,576 | +€11,326 | +137% |
| Profit (loss) for the period | 9904 | €15,020 | €24,096 | +€9,076 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,020 | €24,096 | +€9,076 | +60.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.