ADMEDI: 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.
ADMEDI
Largest movements
- Tangible fixed assets -€35,340
down €35,340 (-15.4%), from €229,169 to €193,829
of which Other tangible fixed assets: -€23,233
- Receivables within one year -€24,239
down €24,239 (-34.4%), from €70,542 to €46,304
of which Other amounts receivable: -€12,452
- Cash +€17,628
up €17,628 (+34.3%), from €51,469 to €69,097
mainly Depreciation (+€39,757) and Receivables within one year (+€24,239)
- Trade debts -€31,029
down €31,029 (-62.6%), from €49,586 to €18,557
- Reserves +€18,000
up €18,000 (+13.4%), from €134,689 to €152,689
- Other debts -€16,316
down €16,316 (-13.0%), from €125,939 to €109,623
- Debts after one year -€10,006
no longer reported in 2025 (was €10,006)
- Current portion of long-term debt -€7,148
down €7,148 (-41.7%), from €17,154 to €10,006
- Gross operating margin +€23,052
up €23,052 (+33.0%), from €69,856 to €92,908
- Taxes +€13,150
up €13,150 (+635.5%), from €2,069 to €15,219
- Financial charges -€3,720
down €3,720 (-30.9%), from €12,051 to €8,331
- Other operating charges +€1,918
up €1,918 (+19.1%), from €10,042 to €11,960
- Depreciation +€1,359
up €1,359 (+3.5%), from €38,399 to €39,757
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 | €365,720 | €322,949 | -€42,772 | -11.7% |
| Fixed assets | 21/28 | €229,169 | €193,829 | -€35,340 | -15.4% |
| Tangible fixed assets | 22/27 | €229,169 | €193,829 | -€35,340 | -15.4% |
| Land and buildings | 22 | €110,179 | €103,029 | -€7,150 | -6.5% |
| Plant, machinery and equipment | 23 | €1,840 | €1,541 | -€299 | -16.3% |
| Furniture and vehicles | 24 | €10,548 | €5,891 | -€4,657 | -44.2% |
| Other tangible fixed assets | 26 | €106,602 | €83,369 | -€23,233 | -21.8% |
| Current assets | 29/58 | €136,551 | €129,120 | -€7,432 | -5.4% |
| Stocks and contracts in progress | 3 | €3,601 | €3,239 | -€362 | -10.1% |
| Stocks | 30/36 | €3,601 | €3,239 | -€362 | -10.1% |
| Amounts receivable within one year | 40/41 | €70,542 | €46,304 | -€24,239 | -34.4% |
| Trade receivables | 40 | €49,886 | €38,099 | -€11,787 | -23.6% |
| Other amounts receivable | 41 | €20,657 | €8,205 | -€12,452 | -60.3% |
| Current investments | 50/53 | €5,142 | €5,142 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,469 | €69,097 | +€17,628 | +34.3% |
| Deferred charges and accrued income | 490/1 | €5,797 | €5,338 | -€459 | -7.9% |
| Total equity and liabilities | 10/49 | €365,720 | €322,949 | -€42,772 | -11.7% |
| Equity | 10/15 | €157,047 | €175,393 | +€18,346 | +11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €134,689 | €152,689 | +€18,000 | +13.4% |
| Distributable reserves | 133 | €134,689 | €152,689 | +€18,000 | +13.4% |
| Profit (loss) carried forward | 14 | €3,759 | €4,104 | +€346 | +9.2% |
| Amounts payable | 17/49 | €208,673 | €147,556 | -€61,117 | -29.3% |
| Amounts payable after more than one year | 17 | €10,006 | - | -€10,006 | |
| Financial debts | 170/4 | €10,006 | - | -€10,006 | |
| Amounts payable within one year | 42/48 | €198,255 | €147,556 | -€50,700 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €17,154 | €10,006 | -€7,148 | -41.7% |
| Trade debts | 44 | €49,586 | €18,557 | -€31,029 | -62.6% |
| Suppliers | 440/4 | €49,586 | €18,557 | -€31,029 | -62.6% |
| Taxes, remuneration and social security | 45 | €5,576 | €9,370 | +€3,794 | +68.0% |
| Taxes | 450/3 | €5,576 | €9,370 | +€3,794 | +68.0% |
| Other amounts payable | 47/48 | €125,939 | €109,623 | -€16,316 | -13.0% |
| Accrued charges and deferred income | 492/3 | €411 | - | -€411 | |
| Non-recurring operating income | 76A | €11,617 | €5,785 | -€5,831 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,399 | €39,757 | +€1,359 | +3.5% |
| Other operating charges | 640/8 | €10,042 | €11,960 | +€1,918 | +19.1% |
| Non-recurring operating charges | 66A | €220 | - | -€220 | |
| Gross operating margin | 9900 | €69,856 | €92,908 | +€23,052 | +33.0% |
| Operating profit (loss) | 9901 | €21,195 | €41,191 | +€19,996 | +94.3% |
| Financial income | 75/76B | €184 | €705 | +€520 | +282.2% |
| Recurring financial income | 75 | €184 | €705 | +€520 | +282.2% |
| Financial charges | 65/66B | €12,051 | €8,331 | -€3,720 | -30.9% |
| Recurring financial charges | 65 | €12,051 | €8,331 | -€3,720 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €9,329 | €33,564 | +€24,236 | +259.8% |
| Income taxes | 67/77 | €2,069 | €15,219 | +€13,150 | +635.5% |
| Profit (loss) for the period | 9904 | €7,260 | €18,346 | +€11,086 | +152.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,260 | €18,346 | +€11,086 | +152.7% |
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 5 October 2026 via checked.be.