ADMI: 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.
ADMI
Largest movements
- Cash -€259,504
no longer reported in 2025 (was €259,504)
mainly Current investments (-€247,051) and Investment in fixed assets (net) (-€125,652)
- Current investments +€247,051
new in 2025: €247,051
- Tangible fixed assets +€57,348
up €57,348 (+24.5%), from €233,653 to €291,000
of which Furniture and vehicles: +€70,336
- Profit (loss) carried forward +€115,950
up €115,950 (+38.2%), from €303,216 to €419,166
- Other debts -€35,000
down €35,000 (-70.0%), from €50,000 to €15,000
- Trade debts -€24,819
down €24,819 (-73.1%), from €33,934 to €9,115
- Debts after one year -€21,332
down €21,332 (-22.5%), from €94,687 to €73,356
- Tax, wage and social debts +€15,062
up €15,062 (+25.7%), from €58,666 to €73,728
of which Remuneration and social security: +€12,110
- Gross operating margin +€81,959
up €81,959 (+28.6%), from €286,981 to €368,940
- Staff costs +€42,116
up €42,116 (+41.5%), from €101,520 to €143,636
- Depreciation +€33,219
up €33,219 (+94.7%), from €35,085 to €68,304
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 | €578,184 | €628,895 | +€50,710 | +8.8% |
| Fixed assets | 21/28 | €233,653 | €291,000 | +€57,348 | +24.5% |
| Tangible fixed assets | 22/27 | €233,653 | €291,000 | +€57,348 | +24.5% |
| Land and buildings | 22 | €131,460 | €129,920 | -€1,540 | -1.2% |
| Plant, machinery and equipment | 23 | €74,964 | €64,933 | -€10,032 | -13.4% |
| Furniture and vehicles | 24 | €21,560 | €91,897 | +€70,336 | +326.2% |
| Other tangible fixed assets | 26 | €5,667 | €4,251 | -€1,417 | -25.0% |
| Current assets | 29/58 | €344,532 | €337,894 | -€6,637 | -1.9% |
| Amounts receivable within one year | 40/41 | €85,027 | €90,843 | +€5,816 | +6.8% |
| Trade receivables | 40 | €67,985 | €75,856 | +€7,872 | +11.6% |
| Other amounts receivable | 41 | €17,043 | €14,987 | -€2,056 | -12.1% |
| Current investments | 50/53 | - | €247,051 | +€247,051 | |
| Cash at bank and in hand | 54/58 | €259,504 | - | -€259,504 | |
| Total equity and liabilities | 10/49 | €578,184 | €628,895 | +€50,710 | +8.8% |
| Equity | 10/15 | €317,365 | €433,315 | +€115,950 | +36.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,950 | €7,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,090 | €6,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | €303,216 | €419,166 | +€115,950 | +38.2% |
| Amounts payable | 17/49 | €260,819 | €195,579 | -€65,240 | -25.0% |
| Amounts payable after more than one year | 17 | €94,687 | €73,356 | -€21,332 | -22.5% |
| Financial debts | 170/4 | €94,687 | €73,356 | -€21,332 | -22.5% |
| Amounts payable within one year | 42/48 | €165,496 | €121,027 | -€44,469 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €20,890 | €21,332 | +€442 | +2.1% |
| Financial debts | 43 | €2,006 | €1,852 | -€153 | -7.6% |
| Credit institutions | 430/8 | €2,006 | €1,852 | -€153 | -7.6% |
| Trade debts | 44 | €33,934 | €9,115 | -€24,819 | -73.1% |
| Suppliers | 440/4 | €33,934 | €9,115 | -€24,819 | -73.1% |
| Taxes, remuneration and social security | 45 | €58,666 | €73,728 | +€15,062 | +25.7% |
| Taxes | 450/3 | €44,002 | €46,954 | +€2,952 | +6.7% |
| Remuneration and social security | 454/9 | €14,664 | €26,775 | +€12,110 | +82.6% |
| Other amounts payable | 47/48 | €50,000 | €15,000 | -€35,000 | -70.0% |
| Accrued charges and deferred income | 492/3 | €636 | €1,196 | +€561 | +88.2% |
| Remuneration, social security and pensions | 62 | €101,520 | €143,636 | +€42,116 | +41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,085 | €68,304 | +€33,219 | +94.7% |
| Other operating charges | 640/8 | €2,028 | €1,789 | -€239 | -11.8% |
| Gross operating margin | 9900 | €286,981 | €368,940 | +€81,959 | +28.6% |
| Operating profit (loss) | 9901 | €148,348 | €155,211 | +€6,863 | +4.6% |
| Financial income | 75/76B | €1,031 | €1,594 | +€563 | +54.6% |
| Recurring financial income | 75 | €1,031 | €1,594 | +€563 | +54.6% |
| Financial charges | 65/66B | €4,755 | €4,594 | -€161 | -3.4% |
| Recurring financial charges | 65 | €4,755 | €4,594 | -€161 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €144,624 | €152,211 | +€7,587 | +5.2% |
| Income taxes | 67/77 | €34,294 | €36,261 | +€1,967 | +5.7% |
| Profit (loss) for the period | 9904 | €110,329 | €115,950 | +€5,621 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €110,329 | €115,950 | +€5,621 | +5.1% |
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 1 October 2026 via checked.be.