AD.F CONSTRUCT: 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.F CONSTRUCT
Largest movements
- Receivables within one year -€100,569
down €100,569 (-71.1%), from €141,394 to €40,825
of which Trade receivables: -€111,391
- Tangible fixed assets +€12,585
up €12,585 (+40.3%), from €31,226 to €43,811
of which Land and buildings: +€21,635
- Cash +€10,860
up €10,860 (+21.9%), from €49,499 to €60,359
mainly Receivables within one year (+€100,569) and Net result for the year (+€21,041)
- Deferred charges and accrued income -€5,528
down €5,528 (-76.4%), from €7,235 to €1,706
- Trade debts -€66,480
down €66,480 (-83.3%), from €79,797 to €13,317
- Accrued charges and deferred income -€25,000
no longer reported in 2025 (was €25,000)
- Profit (loss) carried forward +€21,041
up €21,041 (+124%), from €16,904 to €37,945
- Debts after one year -€12,192
down €12,192 (-92.1%), from €13,241 to €1,049
- Turnover +€72,382
up €72,382 (+14.3%), from €506,235 to €578,616
- Purchases and services +€63,458
up €63,458 (+13.4%), from €475,179 to €538,636
- Gross operating margin +€8,249
up €8,249 (+21.8%), from €37,827 to €46,075
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 | €229,354 | €146,701 | -€82,653 | -36.0% |
| Fixed assets | 21/28 | €31,226 | €43,811 | +€12,585 | +40.3% |
| Tangible fixed assets | 22/27 | €31,226 | €43,811 | +€12,585 | +40.3% |
| Land and buildings | 22 | - | €21,635 | +€21,635 | |
| Plant, machinery and equipment | 23 | €1,773 | €530 | -€1,242 | -70.1% |
| Furniture and vehicles | 24 | €29,453 | €21,645 | -€7,808 | -26.5% |
| Current assets | 29/58 | €198,128 | €102,890 | -€95,238 | -48.1% |
| Amounts receivable within one year | 40/41 | €141,394 | €40,825 | -€100,569 | -71.1% |
| Trade receivables | 40 | €120,033 | €8,642 | -€111,391 | -92.8% |
| Other amounts receivable | 41 | €21,361 | €32,182 | +€10,821 | +50.7% |
| Cash at bank and in hand | 54/58 | €49,499 | €60,359 | +€10,860 | +21.9% |
| Deferred charges and accrued income | 490/1 | €7,235 | €1,706 | -€5,528 | -76.4% |
| Total equity and liabilities | 10/49 | €229,354 | €146,701 | -€82,653 | -36.0% |
| Equity | 10/15 | €89,458 | €110,498 | +€21,041 | +23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,354 | €66,354 | = | 0.0% |
| Distributable reserves | 133 | €66,354 | €66,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,904 | €37,945 | +€21,041 | +124% |
| Amounts payable | 17/49 | €139,896 | €36,202 | -€103,693 | -74.1% |
| Amounts payable after more than one year | 17 | €13,241 | €1,049 | -€12,192 | -92.1% |
| Financial debts | 170/4 | €13,241 | €1,049 | -€12,192 | -92.1% |
| Amounts payable within one year | 42/48 | €101,655 | €35,154 | -€66,502 | -65.4% |
| Current portion of amounts payable after more than one year | 42 | €11,502 | €12,192 | +€690 | +6.0% |
| Financial debts | 43 | €23 | - | -€23 | |
| Credit institutions | 430/8 | €23 | - | -€23 | |
| Trade debts | 44 | €79,797 | €13,317 | -€66,480 | -83.3% |
| Suppliers | 440/4 | €79,797 | €13,317 | -€66,480 | -83.3% |
| Advances received on contracts in progress | 46 | €1,060 | - | -€1,060 | |
| Taxes, remuneration and social security | 45 | €9,273 | €9,645 | +€372 | +4.0% |
| Taxes | 450/3 | €9,273 | €9,645 | +€372 | +4.0% |
| Accrued charges and deferred income | 492/3 | €25,000 | - | -€25,000 | |
| Turnover | 70 | €506,235 | €578,616 | +€72,382 | +14.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €475,179 | €538,636 | +€63,458 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,515 | €15,745 | +€4,230 | +36.7% |
| Other operating charges | 640/8 | €212 | €459 | +€247 | +116% |
| Gross operating margin | 9900 | €37,827 | €46,075 | +€8,249 | +21.8% |
| Operating profit (loss) | 9901 | €26,099 | €29,871 | +€3,772 | +14.5% |
| Financial income | 75/76B | €6 | €355 | +€349 | +5,881% |
| Recurring financial income | 75 | €6 | €355 | +€349 | +5,881% |
| Financial charges | 65/66B | €2,222 | €1,520 | -€701 | -31.6% |
| Recurring financial charges | 65 | €2,222 | €1,520 | -€701 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €23,884 | €28,706 | +€4,822 | +20.2% |
| Income taxes | 67/77 | €6,980 | €7,665 | +€686 | +9.8% |
| Profit (loss) for the period | 9904 | €16,904 | €21,041 | +€4,137 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,904 | €21,041 | +€4,137 | +24.5% |
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 14 October 2026 via checked.be.