ADCO CONSULTING: 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.
ADCO CONSULTING
Largest movements
- Current investments +€350,000
up €350,000, from €0 to €350,000
- Cash -€178,368
down €178,368 (-58.8%), from €303,395 to €125,026
mainly Current investments (-€350,000) and Contributions, distributions and other (-€64,160)
- Receivables within one year -€76,522
down €76,522 (-45.4%), from €168,569 to €92,047
of which Trade receivables: -€52,727
- Tangible fixed assets -€68,484
down €68,484 (-12.7%), from €540,893 to €472,409
of which Leasing and similar rights: -€45,577
- Reserves +€68,747
up €68,747 (+14.4%), from €476,534 to €545,281
of which Distributable reserves: +€68,747
- Debts after one year -€34,411
down €34,411 (-8.1%), from €425,827 to €391,416
- Other debts -€13,836
down €13,836 (-19.7%), from €70,061 to €56,224
- Financial income +€69,216
up €69,216 (+133%), from €51,891 to €121,107
of which Non-recurring financial income: +€99,682
- Gross operating margin -€45,022
down €45,022 (-26.8%), from €167,762 to €122,740
- Taxes -€7,200
down €7,200 (-23.1%), from €31,112 to €23,912
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 | €1,031,407 | €1,051,035 | +€19,628 | +1.9% |
| Fixed assets | 21/28 | €555,893 | €477,409 | -€78,484 | -14.1% |
| Tangible fixed assets | 22/27 | €540,893 | €472,409 | -€68,484 | -12.7% |
| Plant, machinery and equipment | 23 | €3,319 | €1,770 | -€1,549 | -46.7% |
| Furniture and vehicles | 24 | €76,540 | €55,182 | -€21,358 | -27.9% |
| Leasing and similar rights | 25 | €461,034 | €415,457 | -€45,577 | -9.9% |
| Financial fixed assets | 28 | €15,000 | €5,000 | -€10,000 | -66.7% |
| Current assets | 29/58 | €475,514 | €573,626 | +€98,112 | +20.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €168,569 | €92,047 | -€76,522 | -45.4% |
| Trade receivables | 40 | €52,727 | €0 | -€52,727 | -100% |
| Other amounts receivable | 41 | €115,843 | €92,047 | -€23,796 | -20.5% |
| Current investments | 50/53 | €0 | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €303,395 | €125,026 | -€178,368 | -58.8% |
| Deferred charges and accrued income | 490/1 | €3,550 | €6,553 | +€3,003 | +84.6% |
| Total equity and liabilities | 10/49 | €1,031,407 | €1,051,035 | +€19,628 | +1.9% |
| Equity | 10/15 | €488,934 | €557,681 | +€68,747 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €476,534 | €545,281 | +€68,747 | +14.4% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €457,784 | €526,531 | +€68,747 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €542,473 | €493,354 | -€49,119 | -9.1% |
| Amounts payable after more than one year | 17 | €425,827 | €391,416 | -€34,411 | -8.1% |
| Financial debts | 170/4 | €425,827 | €391,416 | -€34,411 | -8.1% |
| Amounts payable within one year | 42/48 | €111,504 | €96,938 | -€14,565 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €33,399 | €34,411 | +€1,012 | +3.0% |
| Trade debts | 44 | €2,214 | €839 | -€1,376 | -62.1% |
| Suppliers | 440/4 | €2,214 | €839 | -€1,376 | -62.1% |
| Taxes, remuneration and social security | 45 | €5,830 | €5,464 | -€366 | -6.3% |
| Taxes | 450/3 | €5,830 | €5,464 | -€366 | -6.3% |
| Other amounts payable | 47/48 | €70,061 | €56,224 | -€13,836 | -19.7% |
| Accrued charges and deferred income | 492/3 | €5,142 | €5,000 | -€142 | -2.8% |
| Non-recurring operating income | 76A | - | €289 | +€289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,771 | €69,572 | +€801 | +1.2% |
| Other operating charges | 640/8 | €3,757 | €3,992 | +€235 | +6.2% |
| Non-recurring operating charges | 66A | €185 | €0 | -€185 | -100% |
| Gross operating margin | 9900 | €167,762 | €122,740 | -€45,022 | -26.8% |
| Operating profit (loss) | 9901 | €95,048 | €49,176 | -€45,872 | -48.3% |
| Financial income | 75/76B | €51,891 | €121,107 | +€69,216 | +133% |
| Recurring financial income | 75 | €51,891 | €21,425 | -€30,466 | -58.7% |
| Non-recurring financial income | 76B | - | €99,682 | +€99,682 | |
| Financial charges | 65/66B | €14,399 | €13,464 | -€935 | -6.5% |
| Recurring financial charges | 65 | €14,399 | €13,464 | -€935 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €132,539 | €156,819 | +€24,280 | +18.3% |
| Income taxes | 67/77 | €31,112 | €23,912 | -€7,200 | -23.1% |
| Profit (loss) for the period | 9904 | €101,428 | €132,907 | +€31,479 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,428 | €132,907 | +€31,479 | +31.0% |
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 14 October 2026 via checked.be.