ADG Enterprises: 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.
ADG Enterprises
Largest movements
- Stocks and contracts +€513,286
up €513,286 (+3,385%), from €15,165 to €528,451
- Cash -€287,936
down €287,936 (-55.4%), from €519,909 to €231,973
mainly Stocks and contracts (-€513,286) and Contributions, distributions and other (-€35,610)
- Tangible fixed assets -€18,284
down €18,284 (-24.2%), from €75,429 to €57,145
of which Furniture and vehicles: -€21,866
- Receivables within one year -€12,962
down €12,962 (-10.2%), from €126,702 to €113,740
of which Trade receivables: -€12,404
- Reserves +€176,988
up €176,988 (+30.6%), from €578,959 to €755,947
of which Distributable reserves: +€176,988
- Tax, wage and social debts +€29,214
up €29,214 (+109%), from €26,776 to €55,990
of which Taxes: +€28,939
- Debts after one year -€15,950
down €15,950 (-47.3%), from €33,711 to €17,760
- Gross operating margin +€53,340
up €53,340 (+11.3%), from €473,988 to €527,327
- Staff costs +€14,662
up €14,662 (+8.7%), from €167,735 to €182,397
- Taxes +€8,343
up €8,343 (+9.6%), from €87,121 to €95,463
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 | €749,422 | €938,333 | +€188,910 | +25.2% |
| Fixed assets | 21/28 | €83,195 | €63,020 | -€20,175 | -24.3% |
| Intangible fixed assets | 21 | €7,766 | €5,875 | -€1,891 | -24.4% |
| Tangible fixed assets | 22/27 | €75,429 | €57,145 | -€18,284 | -24.2% |
| Plant, machinery and equipment | 23 | €10,830 | €14,412 | +€3,582 | +33.1% |
| Furniture and vehicles | 24 | €64,599 | €42,733 | -€21,866 | -33.8% |
| Current assets | 29/58 | €666,227 | €875,313 | +€209,086 | +31.4% |
| Stocks and contracts in progress | 3 | €15,165 | €528,451 | +€513,286 | +3,385% |
| Stocks | 30/36 | €15,165 | €528,451 | +€513,286 | +3,385% |
| Amounts receivable within one year | 40/41 | €126,702 | €113,740 | -€12,962 | -10.2% |
| Trade receivables | 40 | €125,768 | €113,364 | -€12,404 | -9.9% |
| Other amounts receivable | 41 | €935 | €377 | -€558 | -59.7% |
| Cash at bank and in hand | 54/58 | €519,909 | €231,973 | -€287,936 | -55.4% |
| Deferred charges and accrued income | 490/1 | €4,450 | €1,149 | -€3,302 | -74.2% |
| Total equity and liabilities | 10/49 | €749,422 | €938,333 | +€188,910 | +25.2% |
| Equity | 10/15 | €585,259 | €762,247 | +€176,988 | +30.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €578,959 | €755,947 | +€176,988 | +30.6% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10 | €10 | = | 0.0% |
| Distributable reserves | 133 | €578,949 | €755,937 | +€176,988 | +30.6% |
| Amounts payable | 17/49 | €164,163 | €176,086 | +€11,922 | +7.3% |
| Amounts payable after more than one year | 17 | €33,711 | €17,760 | -€15,950 | -47.3% |
| Financial debts | 170/4 | €33,711 | €17,760 | -€15,950 | -47.3% |
| Amounts payable within one year | 42/48 | €130,453 | €158,325 | +€27,873 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €22,313 | €17,385 | -€4,928 | -22.1% |
| Trade debts | 44 | €62,764 | €71,808 | +€9,044 | +14.4% |
| Suppliers | 440/4 | €62,764 | €71,808 | +€9,044 | +14.4% |
| Taxes, remuneration and social security | 45 | €26,776 | €55,990 | +€29,214 | +109% |
| Taxes | 450/3 | €22,638 | €51,577 | +€28,939 | +128% |
| Remuneration and social security | 454/9 | €4,138 | €4,413 | +€275 | +6.6% |
| Other amounts payable | 47/48 | €18,599 | €13,142 | -€5,457 | -29.3% |
| Remuneration, social security and pensions | 62 | €167,735 | €182,397 | +€14,662 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,071 | €31,634 | -€4,436 | -12.3% |
| Other operating charges | 640/8 | €2,105 | €3,162 | +€1,057 | +50.2% |
| Gross operating margin | 9900 | €473,988 | €527,327 | +€53,340 | +11.3% |
| Operating profit (loss) | 9901 | €268,077 | €310,133 | +€42,057 | +15.7% |
| Financial income | 75/76B | €420 | €342 | -€79 | -18.8% |
| Recurring financial income | 75 | €420 | €342 | -€79 | -18.8% |
| Financial charges | 65/66B | €1,693 | €2,413 | +€720 | +42.5% |
| Recurring financial charges | 65 | €1,693 | €2,413 | +€720 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €266,804 | €308,062 | +€41,258 | +15.5% |
| Income taxes | 67/77 | €87,121 | €95,463 | +€8,343 | +9.6% |
| Profit (loss) for the period | 9904 | €179,683 | €212,598 | +€32,915 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €179,683 | €212,598 | +€32,915 | +18.3% |
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 31 October 2026 via checked.be.