ADManco: 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.
ADManco
Largest movements
- Receivables within one year -€25,172
down €25,172 (-91.0%), from €27,662 to €2,490
of which Trade receivables: -€25,425
- Tangible fixed assets -€21,192
down €21,192 (-23.4%), from €90,400 to €69,209
of which Furniture and vehicles: -€20,754
- Deferred charges and accrued income +€12,824
up €12,824 (+374.9%), from €3,420 to €16,244
- Financial fixed assets +€10,100
up €10,100 (+11.1%), from €90,900 to €101,000
- Other debts -€58,732
down €58,732 (-22.9%), from €257,028 to €198,295
- Reserves +€34,854
up €34,854 (+37.0%), from €94,089 to €128,943
- Accrued charges and deferred income +€6,044
up €6,044 (+622.2%), from €971 to €7,016
- Gross operating margin -€52,578
down €52,578 (-40.8%), from €128,789 to €76,210
- Taxes -€16,799
down €16,799 (-57.9%), from €29,039 to €12,239
- Depreciation +€8,428
up €8,428 (+66.0%), from €12,763 to €21,192
- Financial charges +€6,050
up €6,050 (+587.4%), from €1,030 to €7,080
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 | €362,998 | €342,634 | -€20,364 | -5.6% |
| Fixed assets | 21/28 | €181,300 | €170,209 | -€11,092 | -6.1% |
| Tangible fixed assets | 22/27 | €90,400 | €69,209 | -€21,192 | -23.4% |
| Plant, machinery and equipment | 23 | €792 | €354 | -€438 | -55.3% |
| Furniture and vehicles | 24 | €89,608 | €68,854 | -€20,754 | -23.2% |
| Financial fixed assets | 28 | €90,900 | €101,000 | +€10,100 | +11.1% |
| Current assets | 29/58 | €181,698 | €172,425 | -€9,272 | -5.1% |
| Amounts receivable within one year | 40/41 | €27,662 | €2,490 | -€25,172 | -91.0% |
| Trade receivables | 40 | €26,034 | €610 | -€25,425 | -97.7% |
| Other amounts receivable | 41 | €1,627 | €1,880 | +€253 | +15.5% |
| Cash at bank and in hand | 54/58 | €150,616 | €153,691 | +€3,076 | +2.0% |
| Deferred charges and accrued income | 490/1 | €3,420 | €16,244 | +€12,824 | +374.9% |
| Total equity and liabilities | 10/49 | €362,998 | €342,634 | -€20,364 | -5.6% |
| Equity | 10/15 | €99,089 | €133,943 | +€34,854 | +35.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €94,089 | €128,943 | +€34,854 | +37.0% |
| Distributable reserves | 133 | €94,089 | €128,943 | +€34,854 | +37.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €263,909 | €208,692 | -€55,217 | -20.9% |
| Amounts payable within one year | 42/48 | €262,938 | €201,676 | -€61,261 | -23.3% |
| Trade debts | 44 | €2,910 | €3,182 | +€272 | +9.3% |
| Suppliers | 440/4 | €2,910 | €3,182 | +€272 | +9.3% |
| Taxes, remuneration and social security | 45 | €3,000 | €199 | -€2,801 | -93.4% |
| Taxes | 450/3 | €227 | €199 | -€28 | -12.3% |
| Remuneration and social security | 454/9 | €2,773 | €0 | -€2,773 | -100.0% |
| Other amounts payable | 47/48 | €257,028 | €198,295 | -€58,732 | -22.9% |
| Accrued charges and deferred income | 492/3 | €971 | €7,016 | +€6,044 | +622.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,763 | €21,192 | +€8,428 | +66.0% |
| Other operating charges | 640/8 | €159 | €846 | +€687 | +431.6% |
| Gross operating margin | 9900 | €128,789 | €76,210 | -€52,578 | -40.8% |
| Operating profit (loss) | 9901 | €115,866 | €54,172 | -€61,694 | -53.2% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,030 | €7,080 | +€6,050 | +587.4% |
| Recurring financial charges | 65 | €1,030 | €7,080 | +€6,050 | +587.4% |
| Profit (loss) for the period before taxes | 9903 | €114,836 | €47,093 | -€67,743 | -59.0% |
| Income taxes | 67/77 | €29,039 | €12,239 | -€16,799 | -57.9% |
| Profit (loss) for the period | 9904 | €85,798 | €34,854 | -€50,944 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €85,798 | €34,854 | -€50,944 | -59.4% |
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 4 October 2026 via checked.be.