ADM-US: 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-US
Largest movements
- Cash -€9,018
down €9,018 (-80.9%), from €11,147 to €2,129
mainly Receivables within one year (-€8,303) and Tax, wage and social debts (-€4,319)
- Receivables within one year +€8,303
up €8,303 (+100.0%), from €8,303 to €16,606
of which Trade receivables: +€4,416
- Deferred charges and accrued income +€634
up €634 (+309.0%), from €205 to €839
- Tangible fixed assets -€524
down €524 (-72.4%), from €724 to €200
- Tax, wage and social debts -€4,319
no longer reported in 2025 (was €4,319)
- Profit (loss) carried forward +€3,988
up €3,988 (+37.2%), from €10,731 to €14,719
- Gross operating margin -€8,211
down €8,211 (-53.8%), from €15,253 to €7,042
- Taxes -€1,581
down €1,581 (-40.5%), from €3,908 to €2,327
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 | €20,380 | €19,774 | -€605 | -3.0% |
| Fixed assets | 21/28 | €724 | €200 | -€524 | -72.4% |
| Tangible fixed assets | 22/27 | €724 | €200 | -€524 | -72.4% |
| Furniture and vehicles | 24 | €724 | €200 | -€524 | -72.4% |
| Current assets | 29/58 | €19,655 | €19,574 | -€81 | -0.4% |
| Amounts receivable within one year | 40/41 | €8,303 | €16,606 | +€8,303 | +100.0% |
| Trade receivables | 40 | €5,711 | €10,127 | +€4,416 | +77.3% |
| Other amounts receivable | 41 | €2,592 | €6,479 | +€3,887 | +150.0% |
| Cash at bank and in hand | 54/58 | €11,147 | €2,129 | -€9,018 | -80.9% |
| Deferred charges and accrued income | 490/1 | €205 | €839 | +€634 | +309.0% |
| Total equity and liabilities | 10/49 | €20,380 | €19,774 | -€605 | -3.0% |
| Equity | 10/15 | €15,731 | €19,719 | +€3,988 | +25.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,731 | €14,719 | +€3,988 | +37.2% |
| Amounts payable | 17/49 | €4,648 | €55 | -€4,593 | -98.8% |
| Amounts payable within one year | 42/48 | €4,648 | €55 | -€4,593 | -98.8% |
| Trade debts | 44 | €175 | €55 | -€120 | -68.4% |
| Suppliers | 440/4 | €175 | €55 | -€120 | -68.4% |
| Taxes, remuneration and social security | 45 | €4,319 | - | -€4,319 | |
| Taxes | 450/3 | €4,319 | - | -€4,319 | |
| Other amounts payable | 47/48 | €154 | - | -€154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €524 | -€19 | -3.5% |
| Other operating charges | 640/8 | €50 | €158 | +€108 | +215.2% |
| Gross operating margin | 9900 | €15,253 | €7,042 | -€8,211 | -53.8% |
| Operating profit (loss) | 9901 | €14,660 | €6,360 | -€8,299 | -56.6% |
| Financial income | 75/76B | €0 | €87 | +€87 | +66900.0% |
| Recurring financial income | 75 | €0 | €87 | +€87 | +66900.0% |
| Financial charges | 65/66B | €20 | €133 | +€113 | +569.7% |
| Recurring financial charges | 65 | €20 | €133 | +€113 | +569.7% |
| Profit (loss) for the period before taxes | 9903 | €14,640 | €6,315 | -€8,325 | -56.9% |
| Income taxes | 67/77 | €3,908 | €2,327 | -€1,581 | -40.5% |
| Profit (loss) for the period | 9904 | €10,731 | €3,988 | -€6,744 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,731 | €3,988 | -€6,744 | -62.8% |
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 5 October 2026 via checked.be.