ADMARA: 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.
ADMARA
Largest movements
- Cash +€105,945
up €105,945 (+1086.3%), from €9,752 to €115,697
mainly Net result for the year (+€84,987) and Other debts (+€58,859)
- Financial fixed assets +€101,438
up €101,438 (+9.2%), from €1.1m to €1.2m
- Profit (loss) carried forward +€84,987
up €84,987 (+18.6%), from €457,881 to €542,868
- Other debts +€58,859
up €58,859 (+25.3%), from €232,270 to €291,128
- Current portion of long-term debt +€33,098
up €33,098 (+194.1%), from €17,051 to €50,149
- Debts after one year +€31,251
up €31,251 (+41.3%), from €75,645 to €106,897
- Financial charges +€1,921
up €1,921 (+21.8%), from €8,798 to €10,719
- Gross operating margin +€1,874
up €1,874 (+1.4%), from €130,040 to €131,913
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 | €1,150,811 | €1,364,647 | +€213,836 | +18.6% |
| Fixed assets | 21/28 | €1,115,846 | €1,224,485 | +€108,639 | +9.7% |
| Tangible fixed assets | 22/27 | €9,962 | €17,163 | +€7,201 | +72.3% |
| Furniture and vehicles | 24 | €9,962 | €17,163 | +€7,201 | +72.3% |
| Financial fixed assets | 28 | €1,105,884 | €1,207,322 | +€101,438 | +9.2% |
| Current assets | 29/58 | €34,965 | €140,162 | +€105,197 | +300.9% |
| Amounts receivable within one year | 40/41 | €25,212 | €24,465 | -€747 | -3.0% |
| Trade receivables | 40 | €19,965 | €19,965 | = | 0.0% |
| Other amounts receivable | 41 | €5,247 | €4,500 | -€747 | -14.2% |
| Cash at bank and in hand | 54/58 | €9,752 | €115,697 | +€105,945 | +1086.3% |
| Total equity and liabilities | 10/49 | €1,150,811 | €1,364,647 | +€213,836 | +18.6% |
| Equity | 10/15 | €751,671 | €836,658 | +€84,987 | +11.3% |
| Contributions | 10/11 | €212,537 | €212,537 | = | 0.0% |
| Reserves | 13 | €81,254 | €81,254 | = | 0.0% |
| Distributable reserves | 133 | €81,254 | €81,254 | = | 0.0% |
| Profit (loss) carried forward | 14 | €457,881 | €542,868 | +€84,987 | +18.6% |
| Amounts payable | 17/49 | €399,140 | €527,988 | +€128,849 | +32.3% |
| Amounts payable after more than one year | 17 | €75,645 | €106,897 | +€31,251 | +41.3% |
| Financial debts | 170/4 | €75,645 | €106,897 | +€31,251 | +41.3% |
| Amounts payable within one year | 42/48 | €283,106 | €376,169 | +€93,063 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | €17,051 | €50,149 | +€33,098 | +194.1% |
| Financial debts | 43 | €18,139 | €18,068 | -€71 | -0.4% |
| Credit institutions | 430/8 | €18,139 | €18,068 | -€71 | -0.4% |
| Trade debts | 44 | €2,023 | €4,058 | +€2,035 | +100.6% |
| Suppliers | 440/4 | €2,023 | €4,058 | +€2,035 | +100.6% |
| Taxes, remuneration and social security | 45 | €13,623 | €12,766 | -€857 | -6.3% |
| Taxes | 450/3 | €13,623 | €12,766 | -€857 | -6.3% |
| Other amounts payable | 47/48 | €232,270 | €291,128 | +€58,859 | +25.3% |
| Accrued charges and deferred income | 492/3 | €40,389 | €44,923 | +€4,534 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €623 | €1,713 | +€1,090 | +175.0% |
| Other operating charges | 640/8 | €968 | €1,287 | +€319 | +33.0% |
| Gross operating margin | 9900 | €130,040 | €131,913 | +€1,874 | +1.4% |
| Operating profit (loss) | 9901 | €128,449 | €128,913 | +€464 | +0.4% |
| Financial charges | 65/66B | €8,798 | €10,719 | +€1,921 | +21.8% |
| Recurring financial charges | 65 | €8,798 | €10,719 | +€1,921 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €119,652 | €118,194 | -€1,457 | -1.2% |
| Income taxes | 67/77 | €33,919 | €33,207 | -€712 | -2.1% |
| Profit (loss) for the period | 9904 | €85,733 | €84,987 | -€745 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,733 | €84,987 | -€745 | -0.9% |
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 2 October 2026 via checked.be.