GROEP ADC: 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.
GROEP ADC
Largest movements
- Cash -€2.2m
down €2.2m (-59.4%), from €3.7m to €1.5m
mainly Contributions, distributions and other (-€1.4m) and Investment in fixed assets (net) (-€976,772)
- Current investments +€674,114
up €674,114 (+13.4%), from €5.0m to €5.7m
- Tangible fixed assets +€542,604
up €542,604 (+12.8%), from €4.2m to €4.8m
of which Land and buildings: +€630,665
- Reserves -€703,466
down €703,466 (-4.1%), from €17.3m to €16.6m
of which Distributable reserves: -€708,418
- Other debts +€494,101
up €494,101 (+1,187%), from €41,622 to €535,723
- Trade debts -€482,965
down €482,965 (-96.0%), from €502,829 to €19,864
- Debts after one year -€210,000
down €210,000 (-25.5%), from €823,333 to €613,333
- Financial income -€2.6m
down €2.6m (-79.6%), from €3.2m to €656,283
- Gross operating margin -€235,869
down €235,869 (-22.5%), from €1.0m to €811,117
- Depreciation +€85,826
up €85,826 (+27.2%), from €315,041 to €400,867
- Other operating charges +€20,617
up €20,617 (+122%), from €16,840 to €37,457
- Taxes +€12,109
up €12,109 (+6.9%), from €176,243 to €188,351
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 | €19,055,919 | €18,177,259 | -€878,660 | -4.6% |
| Fixed assets | 21/28 | €10,084,202 | €10,660,107 | +€575,905 | +5.7% |
| Intangible fixed assets | 21 | - | €31,140 | +€31,140 | |
| Tangible fixed assets | 22/27 | €4,234,028 | €4,776,631 | +€542,604 | +12.8% |
| Land and buildings | 22 | €3,816,442 | €4,447,107 | +€630,665 | +16.5% |
| Plant, machinery and equipment | 23 | €43,657 | €33,794 | -€9,863 | -22.6% |
| Furniture and vehicles | 24 | €223,900 | €162,230 | -€61,670 | -27.5% |
| Other tangible fixed assets | 26 | €150,029 | €133,501 | -€16,528 | -11.0% |
| Financial fixed assets | 28 | €5,850,174 | €5,852,336 | +€2,161 | 0.0% |
| Current assets | 29/58 | €8,971,717 | €7,517,152 | -€1.5m | -16.2% |
| Amounts receivable within one year | 40/41 | €226,382 | €310,273 | +€83,891 | +37.1% |
| Trade receivables | 40 | €93,209 | €35,521 | -€57,689 | -61.9% |
| Other amounts receivable | 41 | €133,173 | €274,753 | +€141,579 | +106% |
| Current investments | 50/53 | €5,026,676 | €5,700,790 | +€674,114 | +13.4% |
| Cash at bank and in hand | 54/58 | €3,676,161 | €1,494,292 | -€2.2m | -59.4% |
| Deferred charges and accrued income | 490/1 | €42,497 | €11,797 | -€30,700 | -72.2% |
| Total equity and liabilities | 10/49 | €19,055,919 | €18,177,259 | -€878,660 | -4.6% |
| Equity | 10/15 | €17,423,988 | €16,730,427 | -€693,561 | -4.0% |
| Contributions | 10/11 | €100,000 | €109,904 | +€9,904 | +9.9% |
| Reserves | 13 | €17,323,988 | €16,620,522 | -€703,466 | -4.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €4,952 | +€4,952 | |
| Distributable reserves | 133 | €17,323,988 | €16,615,570 | -€708,418 | -4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,631,931 | €1,446,832 | -€185,099 | -11.3% |
| Amounts payable after more than one year | 17 | €823,333 | €613,333 | -€210,000 | -25.5% |
| Financial debts | 170/4 | €823,333 | €613,333 | -€210,000 | -25.5% |
| Amounts payable within one year | 42/48 | €803,853 | €803,474 | -€379 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €210,000 | €210,000 | +€0 | 0.0% |
| Trade debts | 44 | €502,829 | €19,864 | -€482,965 | -96.0% |
| Suppliers | 440/4 | €502,829 | €19,864 | -€482,965 | -96.0% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €49,402 | €37,886 | -€11,516 | -23.3% |
| Taxes | 450/3 | €49,402 | €37,886 | -€11,516 | -23.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €41,622 | €535,723 | +€494,101 | +1,187% |
| Accrued charges and deferred income | 492/3 | €4,745 | €30,025 | +€25,281 | +533% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315,041 | €400,867 | +€85,826 | +27.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,849 | €0 | -€3,849 | -100% |
| Other operating charges | 640/8 | €16,840 | €37,457 | +€20,617 | +122% |
| Non-recurring operating charges | 66A | €51,850 | €0 | -€51,850 | -100% |
| Gross operating margin | 9900 | €1,046,986 | €811,117 | -€235,869 | -22.5% |
| Operating profit (loss) | 9901 | €659,406 | €372,793 | -€286,613 | -43.5% |
| Financial income | 75/76B | €3,216,259 | €656,283 | -€2.6m | -79.6% |
| Recurring financial income | 75 | €3,216,259 | €656,283 | -€2.6m | -79.6% |
| Financial charges | 65/66B | €97,448 | €88,580 | -€8,867 | -9.1% |
| Recurring financial charges | 65 | €97,448 | €88,580 | -€8,867 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €3,778,218 | €940,496 | -€2.8m | -75.1% |
| Income taxes | 67/77 | €176,243 | €188,351 | +€12,109 | +6.9% |
| Profit (loss) for the period | 9904 | €3,601,975 | €752,145 | -€2.8m | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,601,975 | €752,145 | -€2.8m | -79.1% |
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 17 October 2026 via checked.be.