ADMCO: 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.
ADMCO
Largest movements
- Cash +€60,842
up €60,842 (+31.0%), from €196,160 to €257,002
mainly Other debts (+€150,000) and Net result for the year (+€55,892)
- Receivables within one year -€12,401
down €12,401 (-93.3%), from €13,290 to €889
of which Trade receivables: -€11,083
- Profit (loss) carried forward -€150,000
down €150,000 (-86.1%), from €174,260 to €24,260
- Other debts +€150,000
up €150,000, from €0 to €150,000
- Reserves +€55,892
new in 2025: €55,892
- Tax, wage and social debts -€8,242
down €8,242 (-46.8%), from €17,619 to €9,377
of which Taxes: -€8,242
- Gross operating margin -€126,080
down €126,080 (-61.1%), from €206,396 to €80,316
- Taxes -€25,527
down €25,527 (-53.4%), from €47,793 to €22,265
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 | €212,676 | €260,874 | +€48,199 | +22.7% |
| Fixed assets | 21/28 | €2,076 | €1,320 | -€756 | -36.4% |
| Tangible fixed assets | 22/27 | €801 | €45 | -€756 | -94.3% |
| Furniture and vehicles | 24 | €801 | €45 | -€756 | -94.3% |
| Financial fixed assets | 28 | €1,275 | €1,275 | = | 0.0% |
| Current assets | 29/58 | €210,600 | €259,554 | +€48,954 | +23.2% |
| Amounts receivable within one year | 40/41 | €13,290 | €889 | -€12,401 | -93.3% |
| Trade receivables | 40 | €11,083 | €0 | -€11,083 | -100% |
| Other amounts receivable | 41 | €2,207 | €889 | -€1,319 | -59.7% |
| Cash at bank and in hand | 54/58 | €196,160 | €257,002 | +€60,842 | +31.0% |
| Deferred charges and accrued income | 490/1 | €1,150 | €1,664 | +€514 | +44.7% |
| Total equity and liabilities | 10/49 | €212,676 | €260,874 | +€48,199 | +22.7% |
| Equity | 10/15 | €194,720 | €100,612 | -€94,108 | -48.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | - | €55,892 | +€55,892 | |
| Distributable reserves | 133 | - | €55,892 | +€55,892 | |
| Profit (loss) carried forward | 14 | €174,260 | €24,260 | -€150,000 | -86.1% |
| Amounts payable | 17/49 | €17,955 | €160,262 | +€142,307 | +793% |
| Amounts payable within one year | 42/48 | €17,955 | €160,262 | +€142,307 | +793% |
| Trade debts | 44 | €337 | €885 | +€548 | +163% |
| Suppliers | 440/4 | €337 | €885 | +€548 | +163% |
| Taxes, remuneration and social security | 45 | €17,619 | €9,377 | -€8,242 | -46.8% |
| Taxes | 450/3 | €15,219 | €6,977 | -€8,242 | -54.2% |
| Remuneration and social security | 454/9 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €150,000 | +€150,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €814 | €756 | -€58 | -7.2% |
| Other operating charges | 640/8 | €1,367 | €1,080 | -€288 | -21.0% |
| Gross operating margin | 9900 | €206,396 | €80,316 | -€126,080 | -61.1% |
| Operating profit (loss) | 9901 | €204,215 | €78,481 | -€125,734 | -61.6% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €297 | €325 | +€28 | +9.5% |
| Recurring financial charges | 65 | €297 | €325 | +€28 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €203,918 | €78,157 | -€125,761 | -61.7% |
| Income taxes | 67/77 | €47,793 | €22,265 | -€25,527 | -53.4% |
| Profit (loss) for the period | 9904 | €156,125 | €55,892 | -€100,233 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €156,125 | €55,892 | -€100,233 | -64.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.