ADCOFIN: 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.
ADCOFIN
Largest movements
- Receivables within one year +€1,038
new in 2025: €1,038
- Cash +€527
up €527 (+3.8%), from €14,006 to €14,533
mainly Net result for the year (+€1,296) and Other debts (+€710)
- Current investments +€479
up €479 (+5.5%), from €8,722 to €9,202
- Tangible fixed assets -€470
down €470 (-92.1%), from €510 to €40
- Profit (loss) carried forward +€1,296
up €1,296 (+741.9%), from €175 to €1,470
- Other debts +€710
up €710 (+54.1%), from €1,313 to €2,024
- Trade debts -€432
down €432 (-98.2%), from €440 to €8
- Gross operating margin -€7,707
down €7,707 (-81.9%), from €9,413 to €1,706
- Financial income +€354
up €354 (+89.1%), from €397 to €751
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 | €23,238 | €24,812 | +€1,574 | +6.8% |
| Fixed assets | 21/28 | €510 | €40 | -€470 | -92.1% |
| Tangible fixed assets | 22/27 | €510 | €40 | -€470 | -92.1% |
| Plant, machinery and equipment | 23 | €510 | €40 | -€470 | -92.1% |
| Current assets | 29/58 | €22,728 | €24,772 | +€2,044 | +9.0% |
| Amounts receivable within one year | 40/41 | - | €1,038 | +€1,038 | |
| Trade receivables | 40 | - | €1,038 | +€1,038 | |
| Current investments | 50/53 | €8,722 | €9,202 | +€479 | +5.5% |
| Cash at bank and in hand | 54/58 | €14,006 | €14,533 | +€527 | +3.8% |
| Total equity and liabilities | 10/49 | €23,238 | €24,812 | +€1,574 | +6.8% |
| Equity | 10/15 | €21,485 | €22,780 | +€1,296 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,710 | €2,710 | = | 0.0% |
| Distributable reserves | 133 | €2,710 | €2,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175 | €1,470 | +€1,296 | +741.9% |
| Amounts payable | 17/49 | €1,753 | €2,032 | +€279 | +15.9% |
| Amounts payable within one year | 42/48 | €1,753 | €2,032 | +€279 | +15.9% |
| Trade debts | 44 | €440 | €8 | -€432 | -98.2% |
| Suppliers | 440/4 | €440 | €8 | -€432 | -98.2% |
| Other amounts payable | 47/48 | €1,313 | €2,024 | +€710 | +54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €470 | €470 | = | 0.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €9,413 | €1,706 | -€7,707 | -81.9% |
| Operating profit (loss) | 9901 | €8,431 | €709 | -€7,722 | -91.6% |
| Financial income | 75/76B | €397 | €751 | +€354 | +89.1% |
| Recurring financial income | 75 | €397 | €751 | +€354 | +89.1% |
| Financial charges | 65/66B | €152 | €164 | +€12 | +7.8% |
| Recurring financial charges | 65 | €152 | €164 | +€12 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €8,675 | €1,296 | -€7,380 | -85.1% |
| Income taxes | 67/77 | -€10 | - | +€10 | |
| Profit (loss) for the period | 9904 | €8,686 | €1,296 | -€7,390 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,686 | €1,296 | -€7,390 | -85.1% |
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 11 October 2026 via checked.be.