ADC GARDEN: 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.
ADC GARDEN
Largest movements
- Tangible fixed assets -€9,015
down €9,015 (-70.3%), from €12,829 to €3,814
of which Furniture and vehicles: -€8,078
- Cash +€8,049
up €8,049 (+19.0%), from €42,452 to €50,501
mainly Net result for the year (+€22,687) and Depreciation (+€16,625)
- Intangible fixed assets -€7,142
down €7,142 (-27.3%), from €26,190 to €19,048
- Receivables within one year +€5,560
up €5,560 (+752%), from €739 to €6,299
of which Other amounts receivable: +€4,387
- Deferred charges and accrued income +€992
up €992 (+60.6%), from €1,637 to €2,629
- Debts after one year -€12,560
down €12,560 (-42.9%), from €29,309 to €16,749
- Tax, wage and social debts +€7,501
up €7,501 (+70.9%), from €10,575 to €18,076
- Trade debts +€6,086
up €6,086 (+586%), from €1,038 to €7,124
- Current portion of long-term debt -€4,149
down €4,149 (-24.8%), from €16,709 to €12,560
- Other debts +€1,912
up €1,912 (+9.6%), from €20,000 to €21,912
- Gross operating margin +€13,092
up €13,092 (+35.7%), from €36,688 to €49,780
- Depreciation -€7,881
down €7,881 (-32.2%), from €24,506 to €16,625
- Taxes +€5,719
up €5,719 (+199%), from €2,881 to €8,600
- Financial charges -€733
down €733 (-42.1%), from €1,740 to €1,007
- Staff costs -€693
no longer reported in 2025 (was €693)
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 | €84,648 | €82,625 | -€2,023 | -2.4% |
| Formation expenses | 20 | €801 | €334 | -€467 | -58.3% |
| Fixed assets | 21/28 | €39,019 | €22,862 | -€16,157 | -41.4% |
| Intangible fixed assets | 21 | €26,190 | €19,048 | -€7,142 | -27.3% |
| Tangible fixed assets | 22/27 | €12,829 | €3,814 | -€9,015 | -70.3% |
| Plant, machinery and equipment | 23 | €2,185 | €1,248 | -€937 | -42.9% |
| Furniture and vehicles | 24 | €10,644 | €2,566 | -€8,078 | -75.9% |
| Current assets | 29/58 | €44,828 | €59,429 | +€14,601 | +32.6% |
| Amounts receivable within one year | 40/41 | €739 | €6,299 | +€5,560 | +752% |
| Trade receivables | 40 | €339 | €1,512 | +€1,173 | +346% |
| Other amounts receivable | 41 | €400 | €4,787 | +€4,387 | +1,097% |
| Cash at bank and in hand | 54/58 | €42,452 | €50,501 | +€8,049 | +19.0% |
| Deferred charges and accrued income | 490/1 | €1,637 | €2,629 | +€992 | +60.6% |
| Total equity and liabilities | 10/49 | €84,648 | €82,625 | -€2,023 | -2.4% |
| Equity | 10/15 | €7,017 | €6,204 | -€813 | -11.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,017 | €3,204 | -€813 | -20.2% |
| Amounts payable | 17/49 | €77,631 | €76,421 | -€1,210 | -1.6% |
| Amounts payable after more than one year | 17 | €29,309 | €16,749 | -€12,560 | -42.9% |
| Financial debts | 170/4 | €29,309 | €16,749 | -€12,560 | -42.9% |
| Amounts payable within one year | 42/48 | €48,322 | €59,672 | +€11,350 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €16,709 | €12,560 | -€4,149 | -24.8% |
| Trade debts | 44 | €1,038 | €7,124 | +€6,086 | +586% |
| Suppliers | 440/4 | €1,038 | €7,124 | +€6,086 | +586% |
| Taxes, remuneration and social security | 45 | €10,575 | €18,076 | +€7,501 | +70.9% |
| Taxes | 450/3 | €10,575 | €18,076 | +€7,501 | +70.9% |
| Other amounts payable | 47/48 | €20,000 | €21,912 | +€1,912 | +9.6% |
| Remuneration, social security and pensions | 62 | €693 | - | -€693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,506 | €16,625 | -€7,881 | -32.2% |
| Other operating charges | 640/8 | €862 | €786 | -€76 | -8.8% |
| Non-recurring operating charges | 66A | €1 | €75 | +€74 | +7,400% |
| Gross operating margin | 9900 | €36,688 | €49,780 | +€13,092 | +35.7% |
| Operating profit (loss) | 9901 | €10,626 | €32,294 | +€21,668 | +204% |
| Financial charges | 65/66B | €1,740 | €1,007 | -€733 | -42.1% |
| Recurring financial charges | 65 | €1,740 | €1,007 | -€733 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €8,886 | €31,287 | +€22,401 | +252% |
| Income taxes | 67/77 | €2,881 | €8,600 | +€5,719 | +199% |
| Profit (loss) for the period | 9904 | €6,005 | €22,687 | +€16,682 | +278% |
| Profit (loss) for the period to be appropriated | 9905 | €6,005 | €22,687 | +€16,682 | +278% |
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 25 October 2026 via checked.be.