ADCON: 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.
ADCON
Largest movements
- Receivables within one year +€58,542
up €58,542 (+268%), from €21,861 to €80,403
of which Other amounts receivable: +€30,739
- Cash -€39,922
down €39,922 (-98.9%), from €40,365 to €443
mainly Receivables within one year (-€58,542) and Trade debts (-€28,442)
- Tangible fixed assets -€16,958
down €16,958 (-42.8%), from €39,578 to €22,620
of which Furniture and vehicles: -€15,328
- Trade debts -€28,442
down €28,442 (-75.5%), from €37,658 to €9,216
- Profit (loss) carried forward +€28,438
up €28,438 (+26.2%), from -€108,390 to -€79,952
- Other debts -€10,215
down €10,215 (-23.4%), from €43,696 to €33,481
- Tax, wage and social debts +€8,380
up €8,380 (+3,657%), from €229 to €8,610
- Accrued charges and deferred income +€3,000
new in 2025: €3,000
- Gross operating margin +€114,204
up €114,204, from -€13,239 to €100,965
- Staff costs +€49,998
new in 2025: €49,998
- Depreciation +€2,293
up €2,293 (+12.5%), from €18,405 to €20,698
- Other operating charges -€1,026
down €1,026 (-36.7%), from €2,798 to €1,772
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 | €102,305 | €103,466 | +€1,161 | +1.1% |
| Fixed assets | 21/28 | €40,078 | €22,620 | -€17,458 | -43.6% |
| Tangible fixed assets | 22/27 | €39,578 | €22,620 | -€16,958 | -42.8% |
| Plant, machinery and equipment | 23 | €163 | - | -€163 | |
| Furniture and vehicles | 24 | €37,948 | €22,620 | -€15,328 | -40.4% |
| Other tangible fixed assets | 26 | €1,468 | - | -€1,468 | |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €62,226 | €80,846 | +€18,620 | +29.9% |
| Amounts receivable within one year | 40/41 | €21,861 | €80,403 | +€58,542 | +268% |
| Trade receivables | 40 | €16,230 | €44,033 | +€27,803 | +171% |
| Other amounts receivable | 41 | €5,631 | €36,371 | +€30,739 | +546% |
| Cash at bank and in hand | 54/58 | €40,365 | €443 | -€39,922 | -98.9% |
| Total equity and liabilities | 10/49 | €102,305 | €103,466 | +€1,161 | +1.1% |
| Equity | 10/15 | €20,722 | €49,160 | +€28,438 | +137% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €110,519 | €110,519 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,459 | €25,459 | = | 0.0% |
| Distributable reserves | 133 | €83,200 | €83,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,390 | -€79,952 | +€28,438 | +26.2% |
| Amounts payable | 17/49 | €81,583 | €54,306 | -€27,277 | -33.4% |
| Amounts payable within one year | 42/48 | €81,583 | €51,306 | -€30,277 | -37.1% |
| Trade debts | 44 | €37,658 | €9,216 | -€28,442 | -75.5% |
| Suppliers | 440/4 | €37,658 | €9,216 | -€28,442 | -75.5% |
| Taxes, remuneration and social security | 45 | €229 | €8,610 | +€8,380 | +3,657% |
| Taxes | 450/3 | €229 | €8,610 | +€8,380 | +3,657% |
| Other amounts payable | 47/48 | €43,696 | €33,481 | -€10,215 | -23.4% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Remuneration, social security and pensions | 62 | - | €49,998 | +€49,998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,405 | €20,698 | +€2,293 | +12.5% |
| Other operating charges | 640/8 | €2,798 | €1,772 | -€1,026 | -36.7% |
| Gross operating margin | 9900 | -€13,239 | €100,965 | +€114,204 | |
| Operating profit (loss) | 9901 | -€34,441 | €28,498 | +€62,940 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | - | €72 | +€72 | |
| Recurring financial charges | 65 | - | €72 | +€72 | |
| Profit (loss) for the period before taxes | 9903 | -€34,441 | €28,438 | +€62,879 | |
| Profit (loss) for the period | 9904 | -€34,441 | €28,438 | +€62,879 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,441 | €28,438 | +€62,879 |
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 22 October 2026 via checked.be.