ADEMCO: 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.
ADEMCO
Largest movements
- Receivables after one year +€20,000
new in 2025: €20,000
- Receivables within one year -€8,674
down €8,674 (-35.1%), from €24,692 to €16,019
of which Other amounts receivable: -€7,749
- Tangible fixed assets -€3,540
down €3,540 (-77.5%), from €4,567 to €1,028
- Financial fixed assets +€2,000
up €2,000 (+333%), from €600 to €2,600
- Cash -€787
down €787 (-5.8%), from €13,594 to €12,807
mainly Receivables after one year (-€20,000) and Short-term financial debts (-€7,282)
- Other debts +€9,575
new in 2025: €9,575
- Profit (loss) carried forward +€9,524
no longer reported in 2025 (was -€9,524)
- Short-term financial debts -€7,282
down €7,282 (-74.2%), from €9,812 to €2,530
- Debts after one year -€5,213
no longer reported in 2025 (was €5,213)
- Current portion of long-term debt -€3,401
down €3,401 (-28.1%), from €12,087 to €8,686
- Gross operating margin +€36,314
up €36,314 (+40.9%), from €88,710 to €125,023
- Staff costs +€16,909
up €16,909 (+21.2%), from €79,601 to €96,510
- Taxes +€4,010
up €4,010 (+76.0%), from €5,277 to €9,287
- Financial charges -€3,796
down €3,796 (-54.4%), from €6,984 to €3,188
- Depreciation -€2,332
down €2,332 (-39.7%), from €5,872 to €3,540
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 | €43,880 | €52,888 | +€9,008 | +20.5% |
| Fixed assets | 21/28 | €5,167 | €3,628 | -€1,540 | -29.8% |
| Tangible fixed assets | 22/27 | €4,567 | €1,028 | -€3,540 | -77.5% |
| Furniture and vehicles | 24 | €4,567 | €1,028 | -€3,540 | -77.5% |
| Financial fixed assets | 28 | €600 | €2,600 | +€2,000 | +333% |
| Current assets | 29/58 | €38,713 | €49,261 | +€10,548 | +27.2% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 291 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €24,692 | €16,019 | -€8,674 | -35.1% |
| Trade receivables | 40 | €15,443 | €14,519 | -€924 | -6.0% |
| Other amounts receivable | 41 | €9,249 | €1,500 | -€7,749 | -83.8% |
| Cash at bank and in hand | 54/58 | €13,594 | €12,807 | -€787 | -5.8% |
| Deferred charges and accrued income | 490/1 | €426 | €435 | +€9 | +2.0% |
| Total equity and liabilities | 10/49 | €43,880 | €52,888 | +€9,008 | +20.5% |
| Equity | 10/15 | -€3,348 | €8,332 | +€11,680 | |
| Reserves | 13 | €6,176 | €8,332 | +€2,156 | +34.9% |
| Distributable reserves | 133 | €6,176 | €8,332 | +€2,156 | +34.9% |
| Profit (loss) carried forward | 14 | -€9,524 | - | +€9,524 | |
| Amounts payable | 17/49 | €47,228 | €44,556 | -€2,672 | -5.7% |
| Amounts payable after more than one year | 17 | €5,213 | - | -€5,213 | |
| Financial debts | 170/4 | €5,213 | - | -€5,213 | |
| Amounts payable within one year | 42/48 | €41,963 | €44,537 | +€2,573 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €12,087 | €8,686 | -€3,401 | -28.1% |
| Financial debts | 43 | €9,812 | €2,530 | -€7,282 | -74.2% |
| Credit institutions | 430/8 | €9,812 | €2,530 | -€7,282 | -74.2% |
| Trade debts | 44 | €2,184 | €3,157 | +€973 | +44.5% |
| Suppliers | 440/4 | €2,184 | €3,157 | +€973 | +44.5% |
| Taxes, remuneration and social security | 45 | €17,880 | €20,588 | +€2,708 | +15.1% |
| Taxes | 450/3 | €7,744 | €9,507 | +€1,764 | +22.8% |
| Remuneration and social security | 454/9 | €10,136 | €11,081 | +€945 | +9.3% |
| Other amounts payable | 47/48 | - | €9,575 | +€9,575 | |
| Accrued charges and deferred income | 492/3 | €52 | €20 | -€32 | -62.3% |
| Remuneration, social security and pensions | 62 | €79,601 | €96,510 | +€16,909 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,872 | €3,540 | -€2,332 | -39.7% |
| Other operating charges | 640/8 | €680 | €819 | +€138 | +20.3% |
| Gross operating margin | 9900 | €88,710 | €125,023 | +€36,314 | +40.9% |
| Operating profit (loss) | 9901 | €2,557 | €24,155 | +€21,598 | +845% |
| Financial income | 75/76B | €0 | €0 | -€0 | -20.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -20.8% |
| Financial charges | 65/66B | €6,984 | €3,188 | -€3,796 | -54.4% |
| Recurring financial charges | 65 | €6,984 | €3,188 | -€3,796 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,427 | €20,967 | +€25,394 | |
| Income taxes | 67/77 | €5,277 | €9,287 | +€4,010 | +76.0% |
| Profit (loss) for the period | 9904 | -€9,704 | €11,680 | +€21,384 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,704 | €11,680 | +€21,384 |
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 19 October 2026 via checked.be.