ADW-SYNDIC-IMMO: what changed
What changed
ADW-SYNDIC-IMMO
NACE 68.321, Property management for co-owned buildings (syndics)
filed annual accounts (NBB)
Net result for the year
-€2,832
2024 · €8,294-€11,126
Equity
€94,854
2024 · €105,186-€10,332
Cash
€14,556
2024 · €15,185-€629
Balance sheet total
€219,379
2024 · €187,648+€31,731
Largest movements
Assets
- Tangible fixed assets +€35,415
up €35,415 (+22.4%), from €158,276 to €193,690
of which Furniture and vehicles: +€47,952
- Receivables within one year -€2,910
down €2,910 (-21.5%), from €13,514 to €10,604
of which Trade receivables: -€6,677
Equity and liabilities
- Debts after one year +€33,919
new in 2025: €33,919
- Advances received -€12,926
no longer reported in 2025 (was €12,926)
- Current portion of long-term debt +€10,721
up €10,721 (+427%), from €2,510 to €13,231
- Reserves -€9,360
down €9,360 (-18.4%), from €50,802 to €41,442
of which Distributable reserves: -€7,500
- Other debts +€6,749
up €6,749 (+11.0%), from €61,521 to €68,270
Income statement
- Gross operating margin -€9,140
down €9,140 (-31.1%), from €29,410 to €20,271
- Depreciation +€6,015
up €6,015 (+48.4%), from €12,419 to €18,434
- Taxes -€4,144
down €4,144 (-93.8%), from €4,417 to €273
- Financial charges +€1,201
up €1,201 (+153%), from €787 to €1,988
- Other operating charges -€1,062
down €1,062 (-30.1%), from €3,524 to €2,462
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
€8,294
Gross operating margin
-€9,140
Depreciation
-€6,015
Other operating charges
+€1,062
Financial income
+€24
Financial charges
-€1,201
Taxes
+€4,144
Result 2025
-€2,832
raises the resultlowers the result
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
+€16,080
Investment
-€53,849
Financing
+€37,140
Cash 2024
€15,185
From operations (derived)
+€16,080
Net result for the year
-€2,832
Depreciation
+€18,434
Receivables within one year
+€2,910
Deferred charges and accrued income
+€145
Trade debts
+€1,715
Tax, wage and social debts
+€375
Advances received
-€12,926
Other debts
+€6,749
Accrued charges and deferred income
+€1,510
Investment (derived)
-€53,849
Investment in fixed assets (net)
-€53,849
Financing
+€37,140
Debts after one year
+€33,919
Current portion of long-term debt
+€10,721
Contributions, distributions and other
-€7,500
Cash 2025
€14,556
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €187,648 | €219,379 | +€31,731 | +16.9% |
| Fixed assets | 21/28 | €158,476 | €193,890 | +€35,415 | +22.3% |
| Tangible fixed assets | 22/27 | €158,276 | €193,690 | +€35,415 | +22.4% |
| Land and buildings | 22 | €137,544 | €128,455 | -€9,089 | -6.6% |
| Plant, machinery and equipment | 23 | €10,051 | €8,998 | -€1,053 | -10.5% |
| Furniture and vehicles | 24 | €1,668 | €49,620 | +€47,952 | +2,874% |
| Other tangible fixed assets | 26 | €9,012 | €6,617 | -€2,395 | -26.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €29,172 | €25,488 | -€3,684 | -12.6% |
| Amounts receivable within one year | 40/41 | €13,514 | €10,604 | -€2,910 | -21.5% |
| Trade receivables | 40 | €13,335 | €6,658 | -€6,677 | -50.1% |
| Other amounts receivable | 41 | €179 | €3,946 | +€3,767 | +2,107% |
| Cash at bank and in hand | 54/58 | €15,185 | €14,556 | -€629 | -4.1% |
| Deferred charges and accrued income | 490/1 | €473 | €328 | -€145 | -30.7% |
| Total equity and liabilities | 10/49 | €187,648 | €219,379 | +€31,731 | +16.9% |
| Equity | 10/15 | €105,186 | €94,854 | -€10,332 | -9.8% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €50,802 | €41,442 | -€9,360 | -18.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €48,942 | €41,442 | -€7,500 | -15.3% |
| Profit (loss) carried forward | 14 | €35,785 | €32,952 | -€2,832 | -7.9% |
| Amounts payable | 17/49 | €82,461 | €124,525 | +€42,063 | +51.0% |
| Amounts payable after more than one year | 17 | - | €33,919 | +€33,919 | |
| Financial debts | 170/4 | - | €33,919 | +€33,919 | |
| Amounts payable within one year | 42/48 | €82,461 | €89,095 | +€6,634 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €2,510 | €13,231 | +€10,721 | +427% |
| Trade debts | 44 | €4,675 | €6,390 | +€1,715 | +36.7% |
| Suppliers | 440/4 | €4,675 | €6,390 | +€1,715 | +36.7% |
| Advances received on contracts in progress | 46 | €12,926 | - | -€12,926 | |
| Taxes, remuneration and social security | 45 | €829 | €1,204 | +€375 | +45.2% |
| Taxes | 450/3 | €829 | €1,204 | +€375 | +45.2% |
| Other amounts payable | 47/48 | €61,521 | €68,270 | +€6,749 | +11.0% |
| Accrued charges and deferred income | 492/3 | - | €1,510 | +€1,510 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,419 | €18,434 | +€6,015 | +48.4% |
| Other operating charges | 640/8 | €3,524 | €2,462 | -€1,062 | -30.1% |
| Gross operating margin | 9900 | €29,410 | €20,271 | -€9,140 | -31.1% |
| Operating profit (loss) | 9901 | €13,467 | -€626 | -€14,093 | |
| Financial income | 75/76B | €31 | €54 | +€24 | +77.7% |
| Recurring financial income | 75 | €31 | €54 | +€24 | +77.7% |
| Financial charges | 65/66B | €787 | €1,988 | +€1,201 | +153% |
| Recurring financial charges | 65 | €787 | €1,988 | +€1,201 | +153% |
| Profit (loss) for the period before taxes | 9903 | €12,711 | -€2,560 | -€15,271 | |
| Income taxes | 67/77 | €4,417 | €273 | -€4,144 | -93.8% |
| Profit (loss) for the period | 9904 | €8,294 | -€2,832 | -€11,126 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,294 | -€2,832 | -€11,126 |
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 2 November 2026 via checked.be.