ADCOL: 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.
ADCOL
Largest movements
- Tangible fixed assets -€125,364
down €125,364 (-70.5%), from €177,707 to €52,344
of which Other tangible fixed assets: -€96,221
- Other debts -€48,183
down €48,183 (-10.0%), from €481,270 to €433,088
- Debts after one year -€35,389
no longer reported in 2025 (was €35,389)
- Profit (loss) carried forward -€32,480
down €32,480 (-9.2%), from -€352,895 to -€385,375
- Current portion of long-term debt -€9,476
no longer reported in 2025 (was €9,476)
- Trade debts -€3,191
down €3,191 (-44.0%), from €7,245 to €4,055
- Staff costs -€31,801
down €31,801, from €29,481 to -€2,321
- Depreciation -€15,518
down €15,518 (-33.4%), from €46,522 to €31,004
- Other operating charges -€9,812
down €9,812 (-81.4%), from €12,057 to €2,246
- Gross operating margin -€7,942
down €7,942 (-94.8%), from €8,382 to €440
- Financial charges -€583
down €583 (-24.4%), from €2,385 to €1,802
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 | €202,412 | €75,206 | -€127,206 | -62.8% |
| Fixed assets | 21/28 | €177,757 | €52,394 | -€125,364 | -70.5% |
| Tangible fixed assets | 22/27 | €177,707 | €52,344 | -€125,364 | -70.5% |
| Plant, machinery and equipment | 23 | €820 | €613 | -€208 | -25.3% |
| Furniture and vehicles | 24 | €72,890 | €43,955 | -€28,935 | -39.7% |
| Other tangible fixed assets | 26 | €103,997 | €7,777 | -€96,221 | -92.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €24,654 | €22,812 | -€1,842 | -7.5% |
| Amounts receivable within one year | 40/41 | €22,191 | €21,919 | -€272 | -1.2% |
| Trade receivables | 40 | €7,794 | €7,335 | -€460 | -5.9% |
| Other amounts receivable | 41 | €14,396 | €14,584 | +€188 | +1.3% |
| Cash at bank and in hand | 54/58 | €2,464 | €893 | -€1,570 | -63.7% |
| Total equity and liabilities | 10/49 | €202,412 | €75,206 | -€127,206 | -62.8% |
| Equity | 10/15 | -€334,295 | -€366,775 | -€32,480 | -9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | -€352,895 | -€385,375 | -€32,480 | -9.2% |
| Amounts payable | 17/49 | €536,707 | €441,981 | -€94,726 | -17.6% |
| Amounts payable after more than one year | 17 | €35,389 | - | -€35,389 | |
| Financial debts | 170/4 | €35,389 | - | -€35,389 | |
| Amounts payable within one year | 42/48 | €500,817 | €439,981 | -€60,836 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €9,476 | - | -€9,476 | |
| Trade debts | 44 | €7,245 | €4,055 | -€3,191 | -44.0% |
| Suppliers | 440/4 | €7,245 | €4,055 | -€3,191 | -44.0% |
| Taxes, remuneration and social security | 45 | €2,825 | €2,839 | +€14 | +0.5% |
| Taxes | 450/3 | €725 | €2,839 | +€2,114 | +291.6% |
| Remuneration and social security | 454/9 | €2,100 | - | -€2,100 | |
| Other amounts payable | 47/48 | €481,270 | €433,088 | -€48,183 | -10.0% |
| Accrued charges and deferred income | 492/3 | €500 | €2,000 | +€1,500 | +300.0% |
| Remuneration, social security and pensions | 62 | €29,481 | -€2,321 | -€31,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,522 | €31,004 | -€15,518 | -33.4% |
| Other operating charges | 640/8 | €12,057 | €2,246 | -€9,812 | -81.4% |
| Gross operating margin | 9900 | €8,382 | €440 | -€7,942 | -94.8% |
| Operating profit (loss) | 9901 | -€79,679 | -€30,489 | +€49,190 | +61.7% |
| Financial income | 75/76B | €103 | - | -€103 | |
| Recurring financial income | 75 | €103 | - | -€103 | |
| Financial charges | 65/66B | €2,385 | €1,802 | -€583 | -24.4% |
| Recurring financial charges | 65 | €2,385 | €1,802 | -€583 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | -€81,961 | -€32,292 | +€49,669 | +60.6% |
| Income taxes | 67/77 | €192 | €189 | -€3 | -1.8% |
| Profit (loss) for the period | 9904 | -€82,153 | -€32,480 | +€49,673 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,153 | -€32,480 | +€49,673 | +60.5% |
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.