ADCO: 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.
ADCO
Largest movements
- Cash -€39,223
down €39,223 (-42.0%), from €93,394 to €54,171
mainly Investment in fixed assets (net) (-€40,963) and Net result for the year (-€7,990)
- Tangible fixed assets +€30,642
up €30,642 (+75.4%), from €40,654 to €71,296
of which Furniture and vehicles: +€27,974
- Reserves -€7,990
down €7,990 (-27.8%), from €28,712 to €20,723
of which Distributable reserves: -€7,990
- Tax, wage and social debts -€4,421
down €4,421 (-71.6%), from €6,172 to €1,752
- Other debts +€3,473
up €3,473 (+3.6%), from €96,670 to €100,143
- Depreciation +€6,313
up €6,313 (+157.6%), from €4,007 to €10,320
- Taxes -€4,178
down €4,178 (-91.1%), from €4,587 to €410
- Gross operating margin -€2,685
down €2,685 (-19.0%), from €14,095 to €11,410
- Other operating charges +€1,414
up €1,414 (+82.3%), from €1,717 to €3,130
- Financial income +€340
up €340 (+1093.9%), from €31 to €371
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 | €139,027 | €131,392 | -€7,635 | -5.5% |
| Fixed assets | 21/28 | €40,654 | €71,296 | +€30,642 | +75.4% |
| Tangible fixed assets | 22/27 | €40,654 | €71,296 | +€30,642 | +75.4% |
| Land and buildings | 22 | €29,869 | €32,612 | +€2,743 | +9.2% |
| Plant, machinery and equipment | 23 | €171 | €96 | -€75 | -43.8% |
| Furniture and vehicles | 24 | €10,614 | €38,588 | +€27,974 | +263.6% |
| Current assets | 29/58 | €98,373 | €60,096 | -€38,277 | -38.9% |
| Stocks and contracts in progress | 3 | €3,047 | €3,047 | = | 0.0% |
| Stocks | 30/36 | €3,047 | €3,047 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,933 | €2,878 | +€946 | +48.9% |
| Trade receivables | 40 | €1,933 | €2,878 | +€946 | +48.9% |
| Cash at bank and in hand | 54/58 | €93,394 | €54,171 | -€39,223 | -42.0% |
| Total equity and liabilities | 10/49 | €139,027 | €131,392 | -€7,635 | -5.5% |
| Equity | 10/15 | €35,112 | €27,123 | -€7,990 | -22.8% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €28,712 | €20,723 | -€7,990 | -27.8% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €26,812 | €18,823 | -€7,990 | -29.8% |
| Amounts payable | 17/49 | €103,915 | €104,270 | +€355 | +0.3% |
| Amounts payable within one year | 42/48 | €103,915 | €104,270 | +€355 | +0.3% |
| Trade debts | 44 | €1,072 | €2,375 | +€1,303 | +121.5% |
| Suppliers | 440/4 | €1,072 | €2,375 | +€1,303 | +121.5% |
| Taxes, remuneration and social security | 45 | €6,172 | €1,752 | -€4,421 | -71.6% |
| Taxes | 450/3 | €6,172 | €1,752 | -€4,421 | -71.6% |
| Other amounts payable | 47/48 | €96,670 | €100,143 | +€3,473 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,007 | €10,320 | +€6,313 | +157.6% |
| Other operating charges | 640/8 | €1,717 | €3,130 | +€1,414 | +82.3% |
| Non-recurring operating charges | 66A | - | €5,839 | +€5,839 | |
| Gross operating margin | 9900 | €14,095 | €11,410 | -€2,685 | -19.0% |
| Operating profit (loss) | 9901 | €8,371 | -€7,880 | -€16,251 | |
| Financial income | 75/76B | €31 | €371 | +€340 | +1093.9% |
| Recurring financial income | 75 | €31 | €371 | +€340 | +1093.9% |
| Financial charges | 65/66B | €88 | €71 | -€18 | -19.9% |
| Recurring financial charges | 65 | €88 | €71 | -€18 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €8,314 | -€7,580 | -€15,894 | |
| Income taxes | 67/77 | €4,587 | €410 | -€4,178 | -91.1% |
| Profit (loss) for the period | 9904 | €3,726 | -€7,990 | -€11,716 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,726 | -€7,990 | -€11,716 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.