Adkg: what changed
Two fiscal 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.
Adkg
Largest movements
- Receivables within one year -€12,181
down €12,181 (-44.6%), from €27,332 to €15,152
of which Other amounts receivable: -€11,083
- Cash -€3,554
down €3,554 (-42.5%), from €8,368 to €4,814
mainly Contributions, distributions and other (-€18,571) and Other debts (-€10,840)
- Tangible fixed assets +€2,420
new in 2025: €2,420
- Deferred charges and accrued income +€1,723
up €1,723 (+643.6%), from €268 to €1,991
- Receivables after one year +€554
up €554 (+3.0%), from €18,450 to €19,004
- Other debts -€10,840
down €10,840 (-36.9%), from €29,412 to €18,571
- Gross operating margin -€10,013
down €10,013 (-26.1%), from €38,330 to €28,317
- Financial charges +€1,640
up €1,640 (+548.5%), from €299 to €1,939
- Taxes -€1,158
down €1,158 (-12.6%), from €9,173 to €8,015
- Financial income -€791
down €791 (-38.8%), from €2,039 to €1,248
- Depreciation -€485
down €485 (-81.9%), from €592 to €107
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 | €54,568 | €43,380 | -€11,188 | -20.5% |
| Fixed assets | 21/28 | €150 | €2,420 | +€2,270 | +1513.2% |
| Tangible fixed assets | 22/27 | - | €2,420 | +€2,420 | |
| Furniture and vehicles | 24 | - | €2,420 | +€2,420 | |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100.0% |
| Current assets | 29/58 | €54,418 | €40,960 | -€13,458 | -24.7% |
| Amounts receivable after more than one year | 29 | €18,450 | €19,004 | +€554 | +3.0% |
| Other amounts receivable | 291 | €18,450 | €19,004 | +€554 | +3.0% |
| Amounts receivable within one year | 40/41 | €27,332 | €15,152 | -€12,181 | -44.6% |
| Trade receivables | 40 | €7,689 | €6,591 | -€1,098 | -14.3% |
| Other amounts receivable | 41 | €19,644 | €8,561 | -€11,083 | -56.4% |
| Cash at bank and in hand | 54/58 | €8,368 | €4,814 | -€3,554 | -42.5% |
| Deferred charges and accrued income | 490/1 | €268 | €1,991 | +€1,723 | +643.6% |
| Total equity and liabilities | 10/49 | €54,568 | €43,380 | -€11,188 | -20.5% |
| Equity | 10/15 | €20,053 | €20,417 | +€364 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,453 | €1,817 | +€364 | +25.0% |
| Amounts payable | 17/49 | €34,515 | €22,963 | -€11,552 | -33.5% |
| Amounts payable within one year | 42/48 | €34,515 | €22,963 | -€11,552 | -33.5% |
| Trade debts | 44 | €1,560 | €1,326 | -€234 | -15.0% |
| Suppliers | 440/4 | €1,560 | €1,326 | -€234 | -15.0% |
| Taxes, remuneration and social security | 45 | €3,543 | €3,065 | -€478 | -13.5% |
| Taxes | 450/3 | €3,543 | €3,065 | -€478 | -13.5% |
| Other amounts payable | 47/48 | €29,412 | €18,571 | -€10,840 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €592 | €107 | -€485 | -81.9% |
| Other operating charges | 640/8 | €438 | €569 | +€131 | +29.9% |
| Gross operating margin | 9900 | €38,330 | €28,317 | -€10,013 | -26.1% |
| Operating profit (loss) | 9901 | €37,300 | €27,641 | -€9,659 | -25.9% |
| Financial income | 75/76B | €2,039 | €1,248 | -€791 | -38.8% |
| Recurring financial income | 75 | €2,039 | €1,248 | -€791 | -38.8% |
| Financial charges | 65/66B | €299 | €1,939 | +€1,640 | +548.5% |
| Recurring financial charges | 65 | €299 | €1,939 | +€1,640 | +548.5% |
| Profit (loss) for the period before taxes | 9903 | €39,041 | €26,950 | -€12,091 | -31.0% |
| Income taxes | 67/77 | €9,173 | €8,015 | -€1,158 | -12.6% |
| Profit (loss) for the period | 9904 | €29,868 | €18,935 | -€10,933 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,868 | €18,935 | -€10,933 | -36.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.