ADM: 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.
ADM
Largest movements
- Cash +€4,966
up €4,966 (+61.3%), from €8,097 to €13,063
mainly Trade debts (+€6,041) and Other debts (+€5,623)
- Stocks and contracts +€4,593
up €4,593 (+19.6%), from €23,472 to €28,065
- Receivables within one year +€3,621
up €3,621 (+82.2%), from €4,404 to €8,025
- Tangible fixed assets -€2,492
down €2,492 (-71.6%), from €3,481 to €989
of which Furniture and vehicles: -€1,703
- Trade debts +€6,041
up €6,041 (+32.8%), from €18,423 to €24,464
- Other debts +€5,623
up €5,623 (+136.5%), from €4,118 to €9,741
- Profit (loss) carried forward -€506
down €506 (-1.6%), from -€31,632 to -€32,138
- Financial charges -€4,160
down €4,160 (-75.7%), from €5,496 to €1,336
- Taxes +€3,589
up €3,589 (+3429.8%), from €105 to €3,694
- Other operating charges -€3,547
down €3,547 (-84.5%), from €4,198 to €651
- Gross operating margin -€890
down €890 (-10.4%), from €8,557 to €7,667
- Depreciation -€316
down €316 (-11.2%), from €2,808 to €2,492
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 | €39,454 | €50,141 | +€10,688 | +27.1% |
| Fixed assets | 21/28 | €3,481 | €989 | -€2,492 | -71.6% |
| Tangible fixed assets | 22/27 | €3,481 | €989 | -€2,492 | -71.6% |
| Land and buildings | 22 | €1,778 | €989 | -€789 | -44.4% |
| Furniture and vehicles | 24 | €1,703 | - | -€1,703 | |
| Current assets | 29/58 | €35,973 | €49,153 | +€13,180 | +36.6% |
| Stocks and contracts in progress | 3 | €23,472 | €28,065 | +€4,593 | +19.6% |
| Stocks | 30/36 | €23,472 | €28,065 | +€4,593 | +19.6% |
| Amounts receivable within one year | 40/41 | €4,404 | €8,025 | +€3,621 | +82.2% |
| Trade receivables | 40 | €4,404 | €8,025 | +€3,621 | +82.2% |
| Cash at bank and in hand | 54/58 | €8,097 | €13,063 | +€4,966 | +61.3% |
| Total equity and liabilities | 10/49 | €39,454 | €50,141 | +€10,688 | +27.1% |
| Equity | 10/15 | €10,616 | €10,110 | -€506 | -4.8% |
| Contributions | 10/11 | €42,247 | €42,247 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,632 | -€32,138 | -€506 | -1.6% |
| Amounts payable | 17/49 | €28,838 | €40,032 | +€11,194 | +38.8% |
| Amounts payable within one year | 42/48 | €28,838 | €40,032 | +€11,194 | +38.8% |
| Trade debts | 44 | €18,423 | €24,464 | +€6,041 | +32.8% |
| Suppliers | 440/4 | €18,423 | €24,464 | +€6,041 | +32.8% |
| Taxes, remuneration and social security | 45 | €6,297 | €5,827 | -€469 | -7.5% |
| Taxes | 450/3 | €6,297 | €5,827 | -€469 | -7.5% |
| Other amounts payable | 47/48 | €4,118 | €9,741 | +€5,623 | +136.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,808 | €2,492 | -€316 | -11.2% |
| Other operating charges | 640/8 | €4,198 | €651 | -€3,547 | -84.5% |
| Gross operating margin | 9900 | €8,557 | €7,667 | -€890 | -10.4% |
| Operating profit (loss) | 9901 | €1,551 | €4,523 | +€2,972 | +191.6% |
| Financial charges | 65/66B | €5,496 | €1,336 | -€4,160 | -75.7% |
| Recurring financial charges | 65 | €5,496 | €1,336 | -€4,160 | -75.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,945 | €3,187 | +€7,132 | |
| Income taxes | 67/77 | €105 | €3,694 | +€3,589 | +3429.8% |
| Profit (loss) for the period | 9904 | -€4,049 | -€506 | +€3,543 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,049 | -€506 | +€3,543 | +87.5% |
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 11 October 2026 via checked.be.