ADG CONSTRUCT: what changed
What changed
ADG CONSTRUCT
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€46
2024 · -€9,833+€9,787
Equity
-€44,245
2024 · -€44,199-€46
Cash
€10,324
2024 · €22,343-€12,019
Balance sheet total
€89,117
2024 · €134,718-€45,600
Largest movements
Assets
- Receivables within one year -€13,102
down €13,102 (-16.8%), from €77,942 to €64,840
of which Trade receivables: -€6,939
- Deferred charges and accrued income -€13,073
down €13,073 (-98.3%), from €13,296 to €223
- Cash -€12,019
down €12,019 (-53.8%), from €22,343 to €10,324
mainly Short-term financial debts (-€125,000) and Trade debts (-€12,858)
- Stocks and contracts -€7,059
down €7,059 (-34.4%), from €20,497 to €13,438
of which Stocks: -€7,059
Equity and liabilities
- Short-term financial debts -€125,000
down €125,000 (-100%), from €125,000 to €0
- Debts after one year +€80,080
new in 2025: €80,080
- Current portion of long-term debt +€26,183
new in 2025: €26,183
- Trade debts -€12,858
down €12,858 (-100%), from €12,858 to €0
- Other debts -€12,764
down €12,764 (-35.5%), from €35,955 to €23,192
Income statement
- Staff costs -€16,952
down €16,952 (-98.6%), from €17,191 to €239
- Gross operating margin -€10,578
down €10,578 (-37.3%), from €28,377 to €17,799
- Depreciation -€9,899
down €9,899 (-96.6%), from €10,247 to €347
- Financial charges -€2,259
down €2,259 (-26.4%), from €8,560 to €6,300
- Other operating charges +€1,091
up €1,091 (+73.7%), from €1,479 to €2,570
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€9,833
Gross operating margin
-€10,578
Staff costs
+€16,952
Depreciation
+€9,899
Write-downs
+€0
Other operating charges
-€1,091
Other operating items
-€7,835
Financial income
+€22
Financial charges
+€2,259
Taxes
+€159
Result 2025
-€46
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€6,718
Investment
-€0
Financing
-€18,736
Cash 2024
€22,343
From operations (derived)
+€6,718
Net result for the year
-€46
Depreciation
+€347
Stocks and contracts
+€7,059
Receivables within one year
+€13,102
Deferred charges and accrued income
+€13,073
Trade debts
-€12,858
Tax, wage and social debts
-€1,196
Other debts
-€12,764
Investment (derived)
-€0
Investment in fixed assets (net)
-€0
Financing
-€18,736
Debts after one year
+€80,080
Current portion of long-term debt
+€26,183
Short-term financial debts
-€125,000
Contributions, distributions and other
-€0
Cash 2025
€10,324
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €134,718 | €89,117 | -€45,600 | -33.8% |
| Fixed assets | 21/28 | €639 | €292 | -€347 | -54.4% |
| Tangible fixed assets | 22/27 | €347 | €0 | -€347 | -100% |
| Furniture and vehicles | 24 | €347 | €0 | -€347 | -100% |
| Financial fixed assets | 28 | €292 | €292 | = | 0.0% |
| Current assets | 29/58 | €134,079 | €88,826 | -€45,253 | -33.8% |
| Stocks and contracts in progress | 3 | €20,497 | €13,438 | -€7,059 | -34.4% |
| Stocks | 30/36 | €20,497 | €13,438 | -€7,059 | -34.4% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €77,942 | €64,840 | -€13,102 | -16.8% |
| Trade receivables | 40 | €70,821 | €63,882 | -€6,939 | -9.8% |
| Other amounts receivable | 41 | €7,121 | €958 | -€6,163 | -86.5% |
| Cash at bank and in hand | 54/58 | €22,343 | €10,324 | -€12,019 | -53.8% |
| Deferred charges and accrued income | 490/1 | €13,296 | €223 | -€13,073 | -98.3% |
| Total equity and liabilities | 10/49 | €134,718 | €89,117 | -€45,600 | -33.8% |
| Equity | 10/15 | -€44,199 | -€44,245 | -€46 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,659 | -€64,705 | -€46 | -0.1% |
| Amounts payable | 17/49 | €178,917 | €133,363 | -€45,554 | -25.5% |
| Amounts payable after more than one year | 17 | - | €80,080 | +€80,080 | |
| Financial debts | 170/4 | - | €80,080 | +€80,080 | |
| Amounts payable within one year | 42/48 | €178,917 | €53,282 | -€125,634 | -70.2% |
| Current portion of amounts payable after more than one year | 42 | - | €26,183 | +€26,183 | |
| Financial debts | 43 | €125,000 | €0 | -€125,000 | -100% |
| Credit institutions | 430/8 | €125,000 | €0 | -€125,000 | -100% |
| Trade debts | 44 | €12,858 | €0 | -€12,858 | -100% |
| Suppliers | 440/4 | €12,858 | €0 | -€12,858 | -100% |
| Taxes, remuneration and social security | 45 | €5,103 | €3,907 | -€1,196 | -23.4% |
| Taxes | 450/3 | €1,077 | €2,257 | +€1,180 | +110% |
| Remuneration and social security | 454/9 | €4,026 | €1,650 | -€2,376 | -59.0% |
| Other amounts payable | 47/48 | €35,955 | €23,192 | -€12,764 | -35.5% |
| Non-recurring operating income | 76A | €2,075 | €102 | -€1,973 | -95.1% |
| Remuneration, social security and pensions | 62 | €17,191 | €239 | -€16,952 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,247 | €347 | -€9,899 | -96.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€0 | -€0 | |
| Other operating charges | 640/8 | €1,479 | €2,570 | +€1,091 | +73.7% |
| Non-recurring operating charges | 66A | - | €7,835 | +€7,835 | |
| Gross operating margin | 9900 | €28,377 | €17,799 | -€10,578 | -37.3% |
| Operating profit (loss) | 9901 | -€540 | €6,807 | +€7,347 | |
| Financial income | 75/76B | €0 | €22 | +€22 | |
| Recurring financial income | 75 | €0 | €22 | +€22 | |
| Financial charges | 65/66B | €8,560 | €6,300 | -€2,259 | -26.4% |
| Recurring financial charges | 65 | €8,560 | €6,300 | -€2,259 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,099 | €529 | +€9,629 | |
| Income taxes | 67/77 | €734 | €575 | -€159 | -21.6% |
| Profit (loss) for the period | 9904 | -€9,833 | -€46 | +€9,787 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,833 | -€46 | +€9,787 | +99.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.