ADCOMEN: 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.
ADCOMEN
Largest movements
- Receivables within one year +€52,724
up €52,724 (+220.4%), from €23,919 to €76,643
- Tangible fixed assets -€9,556
down €9,556 (-23.9%), from €39,973 to €30,417
- Reserves +€79,120
up €79,120 (+756.7%), from €10,456 to €89,576
- Other debts -€55,110
down €55,110 (-90.9%), from €60,625 to €5,515
- Tax, wage and social debts +€20,012
up €20,012 (+206.8%), from €9,677 to €29,690
- Gross operating margin +€88,345
up €88,345 (+410.7%), from €21,509 to €109,854
- Taxes +€18,096
up €18,096 (+594.1%), from €3,046 to €21,142
- Depreciation +€1,749
up €1,749 (+22.4%), from €7,807 to €9,556
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 | €82,670 | €126,438 | +€43,768 | +52.9% |
| Fixed assets | 21/28 | €39,973 | €30,417 | -€9,556 | -23.9% |
| Tangible fixed assets | 22/27 | €39,973 | €30,417 | -€9,556 | -23.9% |
| Furniture and vehicles | 24 | €39,973 | €30,417 | -€9,556 | -23.9% |
| Current assets | 29/58 | €42,697 | €96,021 | +€53,324 | +124.9% |
| Amounts receivable within one year | 40/41 | €23,919 | €76,643 | +€52,724 | +220.4% |
| Trade receivables | 40 | €23,919 | €76,643 | +€52,724 | +220.4% |
| Cash at bank and in hand | 54/58 | €18,556 | €19,168 | +€612 | +3.3% |
| Deferred charges and accrued income | 490/1 | €221 | €210 | -€12 | -5.3% |
| Total equity and liabilities | 10/49 | €82,670 | €126,438 | +€43,768 | +52.9% |
| Equity | 10/15 | €11,456 | €90,576 | +€79,120 | +690.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €10,456 | €89,576 | +€79,120 | +756.7% |
| Distributable reserves | 133 | €10,456 | €89,576 | +€79,120 | +756.7% |
| Amounts payable | 17/49 | €71,214 | €35,862 | -€35,352 | -49.6% |
| Amounts payable within one year | 42/48 | €71,214 | €35,862 | -€35,352 | -49.6% |
| Trade debts | 44 | €911 | €657 | -€254 | -27.9% |
| Suppliers | 440/4 | €911 | €657 | -€254 | -27.9% |
| Taxes, remuneration and social security | 45 | €9,677 | €29,690 | +€20,012 | +206.8% |
| Taxes | 450/3 | €9,677 | €29,690 | +€20,012 | +206.8% |
| Other amounts payable | 47/48 | €60,625 | €5,515 | -€55,110 | -90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,807 | €9,556 | +€1,749 | +22.4% |
| Other operating charges | 640/8 | €103 | €62 | -€41 | -39.8% |
| Gross operating margin | 9900 | €21,509 | €109,854 | +€88,345 | +410.7% |
| Operating profit (loss) | 9901 | €13,599 | €100,236 | +€86,637 | +637.1% |
| Financial income | 75/76B | €24 | €162 | +€138 | +565.7% |
| Recurring financial income | 75 | €24 | €162 | +€138 | +565.7% |
| Financial charges | 65/66B | €122 | €136 | +€14 | +11.9% |
| Recurring financial charges | 65 | €122 | €136 | +€14 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €13,502 | €100,262 | +€86,760 | +642.6% |
| Income taxes | 67/77 | €3,046 | €21,142 | +€18,096 | +594.1% |
| Profit (loss) for the period | 9904 | €10,456 | €79,120 | +€68,664 | +656.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,456 | €79,120 | +€68,664 | +656.7% |
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 9 October 2026 via checked.be.