ADMAN: 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.
ADMAN
Largest movements
- Receivables within one year +€13,491
up €13,491 (+8.5%), from €158,213 to €171,704
of which Other amounts receivable: +€13,495
- Stocks and contracts +€4,170
up €4,170 (+11.7%), from €35,780 to €39,950
- Reserves +€23,265
up €23,265 (+13.3%), from €175,137 to €198,401
- Trade debts -€10,777
down €10,777 (-75.2%), from €14,335 to €3,558
- Tax, wage and social debts +€6,791
up €6,791 (+121%), from €5,612 to €12,403
- Gross operating margin +€8,596
up €8,596 (+29.8%), from €28,862 to €37,457
- Taxes +€2,403
up €2,403 (+26.9%), from €8,947 to €11,350
- Other operating charges -€599
down €599 (-39.6%), from €1,513 to €914
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 | €204,914 | €222,170 | +€17,256 | +8.4% |
| Fixed assets | 21/28 | €3,533 | €3,454 | -€79 | -2.2% |
| Tangible fixed assets | 22/27 | €3,533 | €3,454 | -€79 | -2.2% |
| Land and buildings | 22 | €1,468 | €1,355 | -€113 | -7.7% |
| Plant, machinery and equipment | 23 | €324 | €96 | -€228 | -70.5% |
| Furniture and vehicles | 24 | €1,091 | €1,481 | +€390 | +35.7% |
| Other tangible fixed assets | 26 | €650 | €522 | -€128 | -19.7% |
| Current assets | 29/58 | €201,381 | €218,716 | +€17,335 | +8.6% |
| Stocks and contracts in progress | 3 | €35,780 | €39,950 | +€4,170 | +11.7% |
| Stocks | 30/36 | €35,780 | €39,950 | +€4,170 | +11.7% |
| Amounts receivable within one year | 40/41 | €158,213 | €171,704 | +€13,491 | +8.5% |
| Trade receivables | 40 | €28,428 | €28,424 | -€4 | 0.0% |
| Other amounts receivable | 41 | €129,785 | €143,280 | +€13,495 | +10.4% |
| Cash at bank and in hand | 54/58 | €7,388 | €6,809 | -€579 | -7.8% |
| Deferred charges and accrued income | 490/1 | - | €253 | +€253 | |
| Total equity and liabilities | 10/49 | €204,914 | €222,170 | +€17,256 | +8.4% |
| Equity | 10/15 | €181,437 | €204,701 | +€23,265 | +12.8% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €175,137 | €198,401 | +€23,265 | +13.3% |
| Distributable reserves | 133 | €175,137 | €198,401 | +€23,265 | +13.3% |
| Amounts payable | 17/49 | €23,478 | €17,469 | -€6,009 | -25.6% |
| Amounts payable within one year | 42/48 | €23,478 | €17,469 | -€6,009 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €3,531 | €1,508 | -€2,023 | -57.3% |
| Trade debts | 44 | €14,335 | €3,558 | -€10,777 | -75.2% |
| Suppliers | 440/4 | €14,335 | €3,558 | -€10,777 | -75.2% |
| Taxes, remuneration and social security | 45 | €5,612 | €12,403 | +€6,791 | +121% |
| Taxes | 450/3 | €5,612 | €12,403 | +€6,791 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,830 | €1,579 | -€251 | -13.7% |
| Other operating charges | 640/8 | €1,513 | €914 | -€599 | -39.6% |
| Gross operating margin | 9900 | €28,862 | €37,457 | +€8,596 | +29.8% |
| Operating profit (loss) | 9901 | €25,519 | €34,965 | +€9,446 | +37.0% |
| Financial income | 75/76B | €3 | €11 | +€8 | +331% |
| Recurring financial income | 75 | €3 | €11 | +€8 | +331% |
| Financial charges | 65/66B | €694 | €361 | -€333 | -48.0% |
| Recurring financial charges | 65 | €694 | €361 | -€333 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €24,827 | €34,615 | +€9,788 | +39.4% |
| Income taxes | 67/77 | €8,947 | €11,350 | +€2,403 | +26.9% |
| Profit (loss) for the period | 9904 | €15,880 | €23,265 | +€7,385 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,880 | €23,265 | +€7,385 | +46.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.