ADCENT: 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.
ADCENT
Largest movements
- Intangible fixed assets -€68,457
down €68,457 (-15.2%), from €450,900 to €382,443
- Tangible fixed assets -€21,138
down €21,138 (-24.8%), from €85,172 to €64,034
of which Furniture and vehicles: -€14,981
- Cash +€17,604
up €17,604 (+175%), from €10,052 to €27,656
mainly Depreciation (+€94,008) and Receivables within one year (+€9,218)
- Receivables within one year -€9,218
down €9,218 (-15.5%), from €59,361 to €50,143
of which Other amounts receivable: -€14,171
- Debts after one year -€56,466
down €56,466 (-14.3%), from €394,000 to €337,534
- Current portion of long-term debt -€19,076
down €19,076 (-25.3%), from €75,542 to €56,466
- Gross operating margin -€18,369
down €18,369 (-6.7%), from €274,887 to €256,518
- Staff costs -€15,829
down €15,829 (-10.3%), from €153,988 to €138,159
- Depreciation -€12,035
down €12,035 (-11.3%), from €106,042 to €94,008
- Taxes +€3,783
up €3,783 (+1,007%), from €376 to €4,159
- Financial charges -€2,799
down €2,799 (-13.0%), from €21,483 to €18,684
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 | €614,014 | €532,478 | -€81,536 | -13.3% |
| Fixed assets | 21/28 | €536,071 | €446,477 | -€89,594 | -16.7% |
| Intangible fixed assets | 21 | €450,900 | €382,443 | -€68,457 | -15.2% |
| Tangible fixed assets | 22/27 | €85,172 | €64,034 | -€21,138 | -24.8% |
| Plant, machinery and equipment | 23 | €3,594 | €2,303 | -€1,292 | -35.9% |
| Furniture and vehicles | 24 | €76,712 | €61,731 | -€14,981 | -19.5% |
| Other tangible fixed assets | 26 | €4,865 | €0 | -€4,865 | -100.0% |
| Current assets | 29/58 | €77,943 | €86,001 | +€8,058 | +10.3% |
| Amounts receivable within one year | 40/41 | €59,361 | €50,143 | -€9,218 | -15.5% |
| Trade receivables | 40 | €246 | €5,199 | +€4,953 | +2,016% |
| Other amounts receivable | 41 | €59,115 | €44,944 | -€14,171 | -24.0% |
| Cash at bank and in hand | 54/58 | €10,052 | €27,656 | +€17,604 | +175% |
| Deferred charges and accrued income | 490/1 | €8,530 | €8,202 | -€328 | -3.8% |
| Total equity and liabilities | 10/49 | €614,014 | €532,478 | -€81,536 | -13.3% |
| Equity | 10/15 | €116,884 | €117,943 | +€1,058 | +0.9% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €95,884 | €96,943 | +€1,058 | +1.1% |
| Distributable reserves | 133 | €95,884 | €96,943 | +€1,058 | +1.1% |
| Amounts payable | 17/49 | €497,130 | €414,535 | -€82,594 | -16.6% |
| Amounts payable after more than one year | 17 | €394,000 | €337,534 | -€56,466 | -14.3% |
| Financial debts | 170/4 | €394,000 | €337,534 | -€56,466 | -14.3% |
| Amounts payable within one year | 42/48 | €101,504 | €75,855 | -€25,648 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €75,542 | €56,466 | -€19,076 | -25.3% |
| Trade debts | 44 | €8,005 | €2,681 | -€5,324 | -66.5% |
| Suppliers | 440/4 | €8,005 | €2,681 | -€5,324 | -66.5% |
| Taxes, remuneration and social security | 45 | €17,148 | €15,801 | -€1,347 | -7.9% |
| Remuneration and social security | 454/9 | €17,148 | €15,801 | -€1,347 | -7.9% |
| Other amounts payable | 47/48 | €809 | €907 | +€99 | +12.2% |
| Accrued charges and deferred income | 492/3 | €1,626 | €1,146 | -€480 | -29.5% |
| Remuneration, social security and pensions | 62 | €153,988 | €138,159 | -€15,829 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,042 | €94,008 | -€12,035 | -11.3% |
| Other operating charges | 640/8 | €2,168 | €610 | -€1,559 | -71.9% |
| Gross operating margin | 9900 | €274,887 | €256,518 | -€18,369 | -6.7% |
| Operating profit (loss) | 9901 | €12,688 | €23,742 | +€11,054 | +87.1% |
| Financial income | 75/76B | €735 | €159 | -€576 | -78.4% |
| Recurring financial income | 75 | €735 | €159 | -€576 | -78.4% |
| Financial charges | 65/66B | €21,483 | €18,684 | -€2,799 | -13.0% |
| Recurring financial charges | 65 | €21,483 | €18,684 | -€2,799 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,060 | €5,217 | +€13,277 | |
| Income taxes | 67/77 | €376 | €4,159 | +€3,783 | +1,007% |
| Profit (loss) for the period | 9904 | -€8,435 | €1,058 | +€9,494 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,435 | €1,058 | +€9,494 |
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 19 October 2026 via checked.be.