ADC SOLAR CORSWAREM: 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 SOLAR CORSWAREM
Largest movements
- Receivables within one year -€168,938
down €168,938 (-78.9%), from €214,121 to €45,183
of which Trade receivables: -€157,158
- Cash +€122,336
up €122,336 (+156%), from €78,292 to €200,627
mainly Receivables within one year (+€168,938) and Depreciation (+€38,446)
- Deferred charges and accrued income +€39,399
up €39,399, from €0 to €39,399
- Tangible fixed assets +€30,554
up €30,554 (+31.1%), from €98,308 to €128,862
- Reserves +€35,463
up €35,463 (+11.6%), from €306,250 to €341,713
of which Distributable reserves: +€35,463
- Trade debts -€21,469
down €21,469 (-86.5%), from €24,833 to €3,363
- Tax, wage and social debts +€9,729
up €9,729, from €0 to €9,729
- Gross operating margin -€108,316
down €108,316 (-54.9%), from €197,386 to €89,071
- Financial charges -€42,579
down €42,579 (-94.3%), from €45,174 to €2,595
- Taxes -€32,872
down €32,872 (-75.7%), from €43,430 to €10,558
- Depreciation +€13,346
up €13,346 (+53.2%), from €25,100 to €38,446
- Write-downs +€11,623
up €11,623, from -€11,623 to €0
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 | €544,416 | €568,583 | +€24,167 | +4.4% |
| Fixed assets | 21/28 | €98,308 | €128,862 | +€30,554 | +31.1% |
| Tangible fixed assets | 22/27 | €98,308 | €128,862 | +€30,554 | +31.1% |
| Plant, machinery and equipment | 23 | €98,308 | €128,862 | +€30,554 | +31.1% |
| Current assets | 29/58 | €446,108 | €439,721 | -€6,387 | -1.4% |
| Amounts receivable within one year | 40/41 | €214,121 | €45,183 | -€168,938 | -78.9% |
| Trade receivables | 40 | €190,395 | €33,237 | -€157,158 | -82.5% |
| Other amounts receivable | 41 | €23,725 | €11,946 | -€11,780 | -49.7% |
| Current investments | 50/53 | €153,696 | €154,512 | +€817 | +0.5% |
| Cash at bank and in hand | 54/58 | €78,292 | €200,627 | +€122,336 | +156% |
| Deferred charges and accrued income | 490/1 | €0 | €39,399 | +€39,399 | |
| Total equity and liabilities | 10/49 | €544,416 | €568,583 | +€24,167 | +4.4% |
| Equity | 10/15 | €326,250 | €361,713 | +€35,463 | +10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €306,250 | €341,713 | +€35,463 | +11.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €287,500 | €322,963 | +€35,463 | +12.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €218,166 | €206,870 | -€11,296 | -5.2% |
| Amounts payable within one year | 42/48 | €218,166 | €206,426 | -€11,740 | -5.4% |
| Trade debts | 44 | €24,833 | €3,363 | -€21,469 | -86.5% |
| Suppliers | 440/4 | €24,833 | €3,363 | -€21,469 | -86.5% |
| Taxes, remuneration and social security | 45 | €0 | €9,729 | +€9,729 | |
| Taxes | 450/3 | €0 | €9,729 | +€9,729 | |
| Other amounts payable | 47/48 | €193,333 | €193,333 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €445 | +€445 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,100 | €38,446 | +€13,346 | +53.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,623 | €0 | +€11,623 | |
| Other operating charges | 640/8 | €12,072 | €4,773 | -€7,299 | -60.5% |
| Gross operating margin | 9900 | €197,386 | €89,071 | -€108,316 | -54.9% |
| Operating profit (loss) | 9901 | €171,837 | €45,851 | -€125,986 | -73.3% |
| Financial income | 75/76B | €3,803 | €2,764 | -€1,039 | -27.3% |
| Recurring financial income | 75 | €3,803 | €2,764 | -€1,039 | -27.3% |
| Financial charges | 65/66B | €45,174 | €2,595 | -€42,579 | -94.3% |
| Recurring financial charges | 65 | €45,174 | €2,595 | -€42,579 | -94.3% |
| Profit (loss) for the period before taxes | 9903 | €130,466 | €46,021 | -€84,446 | -64.7% |
| Income taxes | 67/77 | €43,430 | €10,558 | -€32,872 | -75.7% |
| Profit (loss) for the period | 9904 | €87,036 | €35,463 | -€51,574 | -59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €87,036 | €35,463 | -€51,574 | -59.3% |
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 30 October 2026 via checked.be.