ADK SYNDIC: 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.
ADK SYNDIC
Largest movements
- Receivables within one year +€590,641
up €590,641 (+46.2%), from €1.3m to €1.9m
of which Other amounts receivable: +€574,549
- Cash +€393,057
up €393,057 (+55.6%), from €706,326 to €1.1m
mainly Other debts (+€1.9m) and Net result for the year (+€1.1m)
- Other debts +€1.9m
up €1.9m (+1,567%), from €120,000 to €2.0m
- Profit (loss) carried forward -€685,195
down €685,195 (-100%), from €685,195 to €0
- Reserves -€176,362
down €176,362 (-19.2%), from €918,100 to €741,738
of which Distributable reserves: -€176,362
- Gross operating margin +€123,255
up €123,255 (+3.2%), from €3.8m to €3.9m
- Staff costs +€73,625
up €73,625 (+3.6%), from €2.0m to €2.1m
- Depreciation +€43,466
up €43,466 (+25.2%), from €172,487 to €215,953
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 | €2,568,688 | €3,549,636 | +€980,948 | +38.2% |
| Fixed assets | 21/28 | €568,347 | €539,245 | -€29,102 | -5.1% |
| Tangible fixed assets | 22/27 | €567,972 | €538,870 | -€29,102 | -5.1% |
| Plant, machinery and equipment | 23 | €29,672 | €31,969 | +€2,297 | +7.7% |
| Furniture and vehicles | 24 | €538,300 | €506,900 | -€31,400 | -5.8% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €2,000,341 | €3,010,392 | +€1.0m | +50.5% |
| Amounts receivable within one year | 40/41 | €1,279,308 | €1,869,949 | +€590,641 | +46.2% |
| Trade receivables | 40 | €146,347 | €162,439 | +€16,092 | +11.0% |
| Other amounts receivable | 41 | €1,132,960 | €1,707,510 | +€574,549 | +50.7% |
| Cash at bank and in hand | 54/58 | €706,326 | €1,099,384 | +€393,057 | +55.6% |
| Deferred charges and accrued income | 490/1 | €14,707 | €41,059 | +€26,352 | +179% |
| Total equity and liabilities | 10/49 | €2,568,688 | €3,549,636 | +€980,948 | +38.2% |
| Equity | 10/15 | €1,732,796 | €871,240 | -€861,556 | -49.7% |
| Contributions | 10/11 | €129,502 | €129,502 | = | 0.0% |
| Capital | 10 | €129,502 | €129,502 | = | 0.0% |
| Issued capital | 100 | €129,502 | €129,502 | = | 0.0% |
| Reserves | 13 | €918,100 | €741,738 | -€176,362 | -19.2% |
| Non-distributable reserves | 130/1 | €12,950 | €12,950 | = | 0.0% |
| Legal reserve | 130 | €12,950 | €12,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €505,200 | €505,200 | = | 0.0% |
| Distributable reserves | 133 | €399,950 | €223,588 | -€176,362 | -44.1% |
| Profit (loss) carried forward | 14 | €685,195 | €0 | -€685,195 | -100% |
| Amounts payable | 17/49 | €835,891 | €2,678,396 | +€1.8m | +220% |
| Amounts payable within one year | 42/48 | €718,390 | €2,560,087 | +€1.8m | +256% |
| Trade debts | 44 | €363,954 | €355,671 | -€8,283 | -2.3% |
| Suppliers | 440/4 | €363,954 | €355,671 | -€8,283 | -2.3% |
| Taxes, remuneration and social security | 45 | €234,436 | €204,416 | -€30,020 | -12.8% |
| Taxes | 450/3 | €16,035 | - | -€16,035 | |
| Remuneration and social security | 454/9 | €218,401 | €204,416 | -€13,985 | -6.4% |
| Other amounts payable | 47/48 | €120,000 | €2,000,000 | +€1.9m | +1,567% |
| Accrued charges and deferred income | 492/3 | €117,502 | €118,309 | +€807 | +0.7% |
| Remuneration, social security and pensions | 62 | €2,046,800 | €2,120,425 | +€73,625 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,487 | €215,953 | +€43,466 | +25.2% |
| Other operating charges | 640/8 | €41,887 | €48,336 | +€6,449 | +15.4% |
| Non-recurring operating charges | 66A | - | €288 | +€288 | |
| Gross operating margin | 9900 | €3,820,234 | €3,943,488 | +€123,255 | +3.2% |
| Operating profit (loss) | 9901 | €1,559,059 | €1,558,486 | -€574 | 0.0% |
| Financial income | 75/76B | €26 | €1,604 | +€1,578 | +6,098% |
| Recurring financial income | 75 | €26 | €1,604 | +€1,578 | +6,098% |
| Financial charges | 65/66B | €2,063 | €1,508 | -€555 | -26.9% |
| Recurring financial charges | 65 | €2,063 | €1,508 | -€555 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €1,557,022 | €1,558,582 | +€1,560 | +0.1% |
| Income taxes | 67/77 | €402,543 | €420,138 | +€17,595 | +4.4% |
| Profit (loss) for the period | 9904 | €1,154,479 | €1,138,444 | -€16,036 | -1.4% |
| Transfer from tax-exempt reserves | 789 | €399,950 | - | -€399,950 | |
| Transfer to tax-exempt reserves | 689 | €505,200 | - | -€505,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,049,229 | €1,138,444 | +€89,214 | +8.5% |
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 26 October 2026 via checked.be.