ADOCOR: 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.
ADOCOR
Largest movements
- Receivables within one year +€71,199
up €71,199 (+51.8%), from €137,370 to €208,569
of which Other amounts receivable: +€71,927
- Cash +€27,526
new in 2025: €27,526
mainly Net result for the year (+€98,450) and Investment in fixed assets (net) (+€13,109)
- Financial fixed assets -€13,109
down €13,109 (-27.0%), from €48,635 to €35,526
- Profit (loss) carried forward +€98,450
up €98,450 (+113.8%), from €86,526 to €184,976
- Debts after one year -€12,000
down €12,000 (-44.4%), from €27,000 to €15,000
- Trade debts -€9,714
down €9,714 (-42.8%), from €22,701 to €12,986
- Tax, wage and social debts +€8,860
up €8,860 (+22.9%), from €38,682 to €47,541
- Financial income +€77,287
up €77,287 (+552.1%), from €13,998 to €91,285
- Gross operating margin -€34,110
down €34,110 (-64.6%), from €52,765 to €18,655
- Taxes -€12,697
down €12,697 (-71.2%), from €17,841 to €5,144
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 | €186,840 | €271,635 | +€84,795 | +45.4% |
| Fixed assets | 21/28 | €49,036 | €35,541 | -€13,496 | -27.5% |
| Tangible fixed assets | 22/27 | €401 | €15 | -€387 | -96.4% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €401 | €15 | -€387 | -96.4% |
| Financial fixed assets | 28 | €48,635 | €35,526 | -€13,109 | -27.0% |
| Current assets | 29/58 | €137,804 | €236,095 | +€98,291 | +71.3% |
| Amounts receivable within one year | 40/41 | €137,370 | €208,569 | +€71,199 | +51.8% |
| Trade receivables | 40 | €2,777 | €2,049 | -€729 | -26.2% |
| Other amounts receivable | 41 | €134,593 | €206,520 | +€71,927 | +53.4% |
| Cash at bank and in hand | 54/58 | - | €27,526 | +€27,526 | |
| Deferred charges and accrued income | 490/1 | €434 | - | -€434 | |
| Total equity and liabilities | 10/49 | €186,840 | €271,635 | +€84,795 | +45.4% |
| Equity | 10/15 | €86,576 | €185,026 | +€98,450 | +113.7% |
| Contributions | 10/11 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,526 | €184,976 | +€98,450 | +113.8% |
| Amounts payable | 17/49 | €100,265 | €86,610 | -€13,655 | -13.6% |
| Amounts payable after more than one year | 17 | €27,000 | €15,000 | -€12,000 | -44.4% |
| Other amounts payable | 178/9 | €27,000 | €15,000 | -€12,000 | -44.4% |
| Amounts payable within one year | 42/48 | €71,922 | €69,613 | -€2,309 | -3.2% |
| Financial debts | 43 | €9,998 | €9,044 | -€955 | -9.5% |
| Credit institutions | 430/8 | €9,998 | €9,044 | -€955 | -9.5% |
| Trade debts | 44 | €22,701 | €12,986 | -€9,714 | -42.8% |
| Suppliers | 440/4 | €22,701 | €12,986 | -€9,714 | -42.8% |
| Taxes, remuneration and social security | 45 | €38,682 | €47,541 | +€8,860 | +22.9% |
| Taxes | 450/3 | €38,682 | €47,541 | +€8,860 | +22.9% |
| Other amounts payable | 47/48 | €542 | €42 | -€500 | -92.2% |
| Accrued charges and deferred income | 492/3 | €1,342 | €1,996 | +€654 | +48.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €387 | -€317 | -45.0% |
| Other operating charges | 640/8 | €1,724 | €1,734 | +€10 | +0.6% |
| Non-recurring operating charges | 66A | €7,092 | - | -€7,092 | |
| Gross operating margin | 9900 | €52,765 | €18,655 | -€34,110 | -64.6% |
| Operating profit (loss) | 9901 | €43,245 | €16,534 | -€26,710 | -61.8% |
| Financial income | 75/76B | €13,998 | €91,285 | +€77,287 | +552.1% |
| Recurring financial income | 75 | €13,998 | €91,285 | +€77,287 | +552.1% |
| Financial charges | 65/66B | €4,235 | €4,225 | -€10 | -0.2% |
| Recurring financial charges | 65 | €4,235 | €4,225 | -€10 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €53,008 | €103,594 | +€50,586 | +95.4% |
| Income taxes | 67/77 | €17,841 | €5,144 | -€12,697 | -71.2% |
| Profit (loss) for the period | 9904 | €35,167 | €98,450 | +€63,283 | +179.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,167 | €98,450 | +€63,283 | +179.9% |
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 2 October 2026 via checked.be.