AdM MANAGEMENT: what changed
Two fiscal 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 MANAGEMENT
Largest movements
- Receivables within one year +€50,094
up €50,094 (+657.1%), from €7,623 to €57,717
- Cash -€41,408
down €41,408 (-45.8%), from €90,321 to €48,914
mainly Receivables within one year (-€50,094) and Trade debts (-€1,586)
- Tax, wage and social debts +€6,013
up €6,013 (+42.1%), from €14,290 to €20,303
- Profit (loss) carried forward +€2,814
up €2,814 (+4.6%), from €60,685 to €63,500
- Trade debts -€1,586
down €1,586 (-100.0%), from €1,586 to €0
- Other debts +€1,445
up €1,445 (+51.0%), from €2,833 to €4,278
- Gross operating margin -€16,186
down €16,186 (-76.8%), from €21,078 to €4,892
- Taxes -€3,657
down €3,657 (-78.3%), from €4,670 to €1,013
- Depreciation -€582
down €582 (-100.0%), from €582 to €0
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 | €97,944 | €106,630 | +€8,686 | +8.9% |
| Current assets | 29/58 | €97,944 | €106,630 | +€8,686 | +8.9% |
| Amounts receivable within one year | 40/41 | €7,623 | €57,717 | +€50,094 | +657.1% |
| Trade receivables | 40 | €7,623 | €57,717 | +€50,094 | +657.1% |
| Cash at bank and in hand | 54/58 | €90,321 | €48,914 | -€41,408 | -45.8% |
| Total equity and liabilities | 10/49 | €97,944 | €106,630 | +€8,686 | +8.9% |
| Equity | 10/15 | €79,235 | €82,050 | +€2,814 | +3.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,550 | €13,550 | = | 0.0% |
| Distributable reserves | 133 | €13,550 | €13,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,685 | €63,500 | +€2,814 | +4.6% |
| Amounts payable | 17/49 | €18,709 | €24,581 | +€5,872 | +31.4% |
| Amounts payable within one year | 42/48 | €18,709 | €24,581 | +€5,872 | +31.4% |
| Trade debts | 44 | €1,586 | €0 | -€1,586 | -100.0% |
| Suppliers | 440/4 | €1,586 | €0 | -€1,586 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,290 | €20,303 | +€6,013 | +42.1% |
| Taxes | 450/3 | €14,290 | €20,303 | +€6,013 | +42.1% |
| Other amounts payable | 47/48 | €2,833 | €4,278 | +€1,445 | +51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582 | €0 | -€582 | -100.0% |
| Other operating charges | 640/8 | €1,050 | €1,012 | -€39 | -3.7% |
| Gross operating margin | 9900 | €21,078 | €4,892 | -€16,186 | -76.8% |
| Operating profit (loss) | 9901 | €19,445 | €3,880 | -€15,565 | -80.0% |
| Financial charges | 65/66B | €67 | €52 | -€15 | -22.0% |
| Recurring financial charges | 65 | €67 | €52 | -€15 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €19,378 | €3,827 | -€15,551 | -80.2% |
| Income taxes | 67/77 | €4,670 | €1,013 | -€3,657 | -78.3% |
| Profit (loss) for the period | 9904 | €14,708 | €2,814 | -€11,894 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,708 | €2,814 | -€11,894 | -80.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.