ADM-TW: 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-TW
Largest movements
- Tangible fixed assets +€194,571
up €194,571 (+6,287%), from €3,095 to €197,666
of which Land and buildings: +€194,396
- Cash +€7,852
up €7,852 (+25.3%), from €30,980 to €38,832
mainly Debts after one year (+€196,856) and Other debts (+€6,979)
- Deferred charges and accrued income -€5,279
down €5,279 (-91.1%), from €5,797 to €518
- Debts after one year +€196,856
new in 2025: €196,856
- Other debts +€6,979
up €6,979 (+44.4%), from €15,714 to €22,694
- Tax, wage and social debts -€6,752
down €6,752 (-96.9%), from €6,968 to €216
- Current portion of long-term debt +€5,343
new in 2025: €5,343
- Profit (loss) carried forward -€3,361
down €3,361, from €0 to -€3,361
- Gross operating margin -€9,215
down €9,215 (-77.8%), from €11,850 to €2,635
- Depreciation +€1,080
up €1,080 (+135%), from €800 to €1,880
- Taxes -€1,080
down €1,080 (-35.0%), from €3,085 to €2,005
- Financial charges -€493
down €493 (-28.5%), from €1,730 to €1,238
- Other operating charges -€162
down €162 (-15.4%), from €1,053 to €891
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 | €43,696 | €238,839 | +€195,143 | +447% |
| Fixed assets | 21/28 | €4,917 | €199,488 | +€194,571 | +3,957% |
| Tangible fixed assets | 22/27 | €3,095 | €197,666 | +€194,571 | +6,287% |
| Land and buildings | 22 | - | €194,396 | +€194,396 | |
| Furniture and vehicles | 24 | €3,095 | €3,270 | +€175 | +5.7% |
| Financial fixed assets | 28 | €1,823 | €1,823 | = | 0.0% |
| Current assets | 29/58 | €38,778 | €39,350 | +€572 | +1.5% |
| Amounts receivable within one year | 40/41 | €2,001 | - | -€2,001 | |
| Trade receivables | 40 | €1,086 | - | -€1,086 | |
| Other amounts receivable | 41 | €915 | - | -€915 | |
| Cash at bank and in hand | 54/58 | €30,980 | €38,832 | +€7,852 | +25.3% |
| Deferred charges and accrued income | 490/1 | €5,797 | €518 | -€5,279 | -91.1% |
| Total equity and liabilities | 10/49 | €43,696 | €238,839 | +€195,143 | +447% |
| Equity | 10/15 | €15,411 | €12,050 | -€3,361 | -21.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,411 | €12,411 | = | 0.0% |
| Distributable reserves | 133 | €12,411 | €12,411 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€3,361 | -€3,361 | |
| Amounts payable | 17/49 | €28,285 | €226,788 | +€198,504 | +702% |
| Amounts payable after more than one year | 17 | - | €196,856 | +€196,856 | |
| Financial debts | 170/4 | - | €196,856 | +€196,856 | |
| Amounts payable within one year | 42/48 | €26,788 | €29,932 | +€3,144 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,343 | +€5,343 | |
| Financial debts | 43 | €541 | - | -€541 | |
| Credit institutions | 430/8 | €541 | - | -€541 | |
| Trade debts | 44 | €3,565 | €1,680 | -€1,885 | -52.9% |
| Suppliers | 440/4 | €3,565 | €1,680 | -€1,885 | -52.9% |
| Taxes, remuneration and social security | 45 | €6,968 | €216 | -€6,752 | -96.9% |
| Taxes | 450/3 | €6,968 | €216 | -€6,752 | -96.9% |
| Other amounts payable | 47/48 | €15,714 | €22,694 | +€6,979 | +44.4% |
| Accrued charges and deferred income | 492/3 | €1,497 | - | -€1,497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €1,880 | +€1,080 | +135% |
| Other operating charges | 640/8 | €1,053 | €891 | -€162 | -15.4% |
| Gross operating margin | 9900 | €11,850 | €2,635 | -€9,215 | -77.8% |
| Operating profit (loss) | 9901 | €9,997 | -€136 | -€10,133 | |
| Financial income | 75/76B | €0 | €18 | +€18 | |
| Recurring financial income | 75 | €0 | €18 | +€18 | |
| Financial charges | 65/66B | €1,730 | €1,238 | -€493 | -28.5% |
| Recurring financial charges | 65 | €1,730 | €1,238 | -€493 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €8,267 | -€1,355 | -€9,622 | |
| Income taxes | 67/77 | €3,085 | €2,005 | -€1,080 | -35.0% |
| Profit (loss) for the period | 9904 | €5,182 | -€3,361 | -€8,543 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,182 | -€3,361 | -€8,543 |
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 13 October 2026 via checked.be.