AdMaKo: 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.
AdMaKo
Largest movements
- Cash +€7,005
up €7,005 (+47.0%), from €14,901 to €21,906
mainly Other debts (+€19,290) and Depreciation (+€6,294)
- Tangible fixed assets -€6,294
down €6,294 (-14.7%), from €42,886 to €36,592
of which Other tangible fixed assets: -€3,679
- Current investments +€1,320
new in 2025: €1,320
- Receivables within one year -€1,167
down €1,167 (-3.7%), from €31,322 to €30,155
of which Other amounts receivable: -€1,167
- Other debts +€19,290
up €19,290 (+91247.2%), from €21 to €19,311
- Reserves -€15,657
down €15,657 (-37.0%), from €42,339 to €26,683
of which Distributable reserves: -€15,657
- Tax, wage and social debts +€3,443
up €3,443 (+53.5%), from €6,440 to €9,883
of which Remuneration and social security: +€2,447
- Debts after one year -€3,409
down €3,409 (-14.7%), from €23,210 to €19,801
- Current portion of long-term debt -€3,089
down €3,089 (-22.6%), from €13,670 to €10,581
- Gross operating margin +€5,155
up €5,155 (+24.7%), from €20,830 to €25,985
- Taxes +€3,923
up €3,923 (+195.5%), from €2,006 to €5,929
- Financial charges +€3,054
up €3,054 (+684.3%), from €446 to €3,501
- Depreciation +€2,854
up €2,854 (+82.9%), from €3,441 to €6,294
- Other operating charges -€2,262
down €2,262 (-30.1%), from €7,519 to €5,257
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 | €89,110 | €89,973 | +€864 | +1.0% |
| Fixed assets | 21/28 | €42,886 | €36,592 | -€6,294 | -14.7% |
| Tangible fixed assets | 22/27 | €42,886 | €36,592 | -€6,294 | -14.7% |
| Furniture and vehicles | 24 | €11,460 | €8,845 | -€2,615 | -22.8% |
| Other tangible fixed assets | 26 | €31,427 | €27,747 | -€3,679 | -11.7% |
| Current assets | 29/58 | €46,223 | €53,382 | +€7,158 | +15.5% |
| Amounts receivable within one year | 40/41 | €31,322 | €30,155 | -€1,167 | -3.7% |
| Trade receivables | 40 | €16,340 | €16,340 | = | 0.0% |
| Other amounts receivable | 41 | €14,982 | €13,815 | -€1,167 | -7.8% |
| Current investments | 50/53 | - | €1,320 | +€1,320 | |
| Cash at bank and in hand | 54/58 | €14,901 | €21,906 | +€7,005 | +47.0% |
| Total equity and liabilities | 10/49 | €89,110 | €89,973 | +€864 | +1.0% |
| Equity | 10/15 | €43,839 | €28,183 | -€15,657 | -35.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €42,339 | €26,683 | -€15,657 | -37.0% |
| Non-distributable reserves | 130/1 | €150 | €150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €150 | €150 | = | 0.0% |
| Distributable reserves | 133 | €42,189 | €26,533 | -€15,657 | -37.1% |
| Amounts payable | 17/49 | €45,270 | €61,791 | +€16,520 | +36.5% |
| Amounts payable after more than one year | 17 | €23,210 | €19,801 | -€3,409 | -14.7% |
| Financial debts | 170/4 | €23,210 | €19,801 | -€3,409 | -14.7% |
| Amounts payable within one year | 42/48 | €22,060 | €41,990 | +€19,929 | +90.3% |
| Current portion of amounts payable after more than one year | 42 | €13,670 | €10,581 | -€3,089 | -22.6% |
| Trade debts | 44 | €1,929 | €2,214 | +€286 | +14.8% |
| Suppliers | 440/4 | €1,929 | €2,214 | +€286 | +14.8% |
| Taxes, remuneration and social security | 45 | €6,440 | €9,883 | +€3,443 | +53.5% |
| Taxes | 450/3 | €6,440 | €7,436 | +€996 | +15.5% |
| Remuneration and social security | 454/9 | - | €2,447 | +€2,447 | |
| Other amounts payable | 47/48 | €21 | €19,311 | +€19,290 | +91247.2% |
| Remuneration, social security and pensions | 62 | €1,920 | €1,600 | -€320 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,441 | €6,294 | +€2,854 | +82.9% |
| Other operating charges | 640/8 | €7,519 | €5,257 | -€2,262 | -30.1% |
| Gross operating margin | 9900 | €20,830 | €25,985 | +€5,155 | +24.7% |
| Operating profit (loss) | 9901 | €7,951 | €12,834 | +€4,884 | +61.4% |
| Financial income | 75/76B | €21 | €228 | +€207 | +972.1% |
| Recurring financial income | 75 | €21 | €228 | +€207 | +972.1% |
| Financial charges | 65/66B | €446 | €3,501 | +€3,054 | +684.3% |
| Recurring financial charges | 65 | €446 | €3,501 | +€3,054 | +684.3% |
| Profit (loss) for the period before taxes | 9903 | €7,526 | €9,562 | +€2,037 | +27.1% |
| Income taxes | 67/77 | €2,006 | €5,929 | +€3,923 | +195.5% |
| Profit (loss) for the period | 9904 | €5,519 | €3,633 | -€1,886 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,519 | €3,633 | -€1,886 | -34.2% |
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 7 October 2026 via checked.be.