ADALCO: 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.
ADALCO
Largest movements
- Cash -€30,227
down €30,227 (-79.6%), from €37,983 to €7,756
mainly Other debts (-€15,185) and Advances received (-€14,316)
- Stocks and contracts +€14,016
up €14,016 (+35.1%), from €39,953 to €53,969
- Receivables within one year -€9,711
down €9,711 (-44.6%), from €21,757 to €12,045
- Tangible fixed assets -€8,509
down €8,509 (-10.2%), from €83,114 to €74,605
- Other debts -€15,185
down €15,185 (-13.0%), from €116,873 to €101,689
- Advances received -€14,316
down €14,316 (-97.9%), from €14,619 to €303
- Trade debts -€3,998
down €3,998 (-34.7%), from €11,529 to €7,531
- Profit (loss) carried forward -€2,066
down €2,066 (-3.6%), from -€57,147 to -€59,213
- Financial income -€14,507
down €14,507 (-97.7%), from €14,845 to €338
of which Non-recurring financial income: -€14,813
- Taxes -€3,072
down €3,072 (-55.9%), from €5,492 to €2,419
- Depreciation -€2,670
down €2,670 (-23.9%), from €11,179 to €8,509
- Gross operating margin +€1,021
up €1,021 (+9.3%), from €10,991 to €12,012
- Financial charges -€215
down €215 (-40.5%), from €531 to €316
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 | €185,814 | €150,697 | -€35,117 | -18.9% |
| Fixed assets | 21/28 | €83,610 | €75,101 | -€8,509 | -10.2% |
| Tangible fixed assets | 22/27 | €83,114 | €74,605 | -€8,509 | -10.2% |
| Land and buildings | 22 | €83,114 | €74,605 | -€8,509 | -10.2% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €102,203 | €75,596 | -€26,608 | -26.0% |
| Stocks and contracts in progress | 3 | €39,953 | €53,969 | +€14,016 | +35.1% |
| Stocks | 30/36 | €39,953 | €53,969 | +€14,016 | +35.1% |
| Amounts receivable within one year | 40/41 | €21,757 | €12,045 | -€9,711 | -44.6% |
| Trade receivables | 40 | €21,757 | €12,045 | -€9,711 | -44.6% |
| Cash at bank and in hand | 54/58 | €37,983 | €7,756 | -€30,227 | -79.6% |
| Deferred charges and accrued income | 490/1 | €2,511 | €1,826 | -€685 | -27.3% |
| Total equity and liabilities | 10/49 | €185,814 | €150,697 | -€35,117 | -18.9% |
| Equity | 10/15 | €28,744 | €26,678 | -€2,066 | -7.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €23,891 | €23,891 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,425 | €4,425 | = | 0.0% |
| Legal reserve | 130 | €4,425 | €4,425 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,466 | €19,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,147 | -€59,213 | -€2,066 | -3.6% |
| Amounts payable | 17/49 | €157,070 | €124,019 | -€33,051 | -21.0% |
| Amounts payable within one year | 42/48 | €157,070 | €124,019 | -€33,051 | -21.0% |
| Financial debts | 43 | €2,936 | €4,250 | +€1,313 | +44.7% |
| Credit institutions | 430/8 | €2,936 | €4,250 | +€1,313 | +44.7% |
| Trade debts | 44 | €11,529 | €7,531 | -€3,998 | -34.7% |
| Suppliers | 440/4 | €11,529 | €7,531 | -€3,998 | -34.7% |
| Advances received on contracts in progress | 46 | €14,619 | €303 | -€14,316 | -97.9% |
| Taxes, remuneration and social security | 45 | €11,112 | €10,247 | -€865 | -7.8% |
| Taxes | 450/3 | €11,112 | €10,247 | -€865 | -7.8% |
| Other amounts payable | 47/48 | €116,873 | €101,689 | -€15,185 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,179 | €8,509 | -€2,670 | -23.9% |
| Other operating charges | 640/8 | €3,143 | €3,171 | +€28 | +0.9% |
| Gross operating margin | 9900 | €10,991 | €12,012 | +€1,021 | +9.3% |
| Operating profit (loss) | 9901 | -€3,331 | €332 | +€3,663 | |
| Financial income | 75/76B | €14,845 | €338 | -€14,507 | -97.7% |
| Recurring financial income | 75 | €32 | €338 | +€306 | +969.4% |
| Non-recurring financial income | 76B | €14,813 | - | -€14,813 | |
| Financial charges | 65/66B | €531 | €316 | -€215 | -40.5% |
| Recurring financial charges | 65 | €531 | €316 | -€215 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €10,983 | €354 | -€10,629 | -96.8% |
| Income taxes | 67/77 | €5,492 | €2,419 | -€3,072 | -55.9% |
| Profit (loss) for the period | 9904 | €5,491 | -€2,066 | -€7,557 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,491 | -€2,066 | -€7,557 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.