ADMIFIN: 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.
ADMIFIN
Largest movements
- Receivables within one year +€10,646
up €10,646 (+107%), from €9,952 to €20,599
of which Trade receivables: +€10,346
- Tangible fixed assets +€816
new in 2025: €816
- Deferred charges and accrued income -€488
down €488 (-100%), from €488 to €0
- Cash -€250
down €250 (-12.1%), from €2,069 to €1,819
mainly Other debts (-€14,167) and Receivables within one year (-€10,646)
- Profit (loss) carried forward +€17,938
up €17,938 (+22.9%), from -€78,335 to -€60,398
- Other debts -€14,167
down €14,167 (-23.1%), from €61,212 to €47,046
- Tax, wage and social debts +€5,149
up €5,149 (+161%), from €3,202 to €8,351
- Trade debts +€1,805
up €1,805 (+459%), from €393 to €2,198
- Gross operating margin +€15,420
up €15,420 (+182%), from €8,471 to €23,892
- Taxes +€3,345
up €3,345 (+186%), from €1,798 to €5,143
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 | €12,509 | €23,233 | +€10,725 | +85.7% |
| Fixed assets | 21/28 | - | €816 | +€816 | |
| Tangible fixed assets | 22/27 | - | €816 | +€816 | |
| Plant, machinery and equipment | 23 | - | €816 | +€816 | |
| Current assets | 29/58 | €12,509 | €22,417 | +€9,909 | +79.2% |
| Amounts receivable within one year | 40/41 | €9,952 | €20,599 | +€10,646 | +107% |
| Trade receivables | 40 | €9,952 | €20,298 | +€10,346 | +104% |
| Other amounts receivable | 41 | - | €301 | +€301 | |
| Cash at bank and in hand | 54/58 | €2,069 | €1,819 | -€250 | -12.1% |
| Deferred charges and accrued income | 490/1 | €488 | €0 | -€488 | -100% |
| Total equity and liabilities | 10/49 | €12,509 | €23,233 | +€10,725 | +85.7% |
| Equity | 10/15 | -€52,299 | -€34,361 | +€17,938 | +34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,335 | -€60,398 | +€17,938 | +22.9% |
| Amounts payable | 17/49 | €64,807 | €57,594 | -€7,213 | -11.1% |
| Amounts payable within one year | 42/48 | €64,807 | €57,594 | -€7,213 | -11.1% |
| Trade debts | 44 | €393 | €2,198 | +€1,805 | +459% |
| Suppliers | 440/4 | €393 | €2,198 | +€1,805 | +459% |
| Taxes, remuneration and social security | 45 | €3,202 | €8,351 | +€5,149 | +161% |
| Taxes | 450/3 | €3,202 | €8,351 | +€5,149 | +161% |
| Other amounts payable | 47/48 | €61,212 | €47,046 | -€14,167 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €282 | €366 | +€84 | +29.7% |
| Other operating charges | 640/8 | €625 | €400 | -€226 | -36.1% |
| Gross operating margin | 9900 | €8,471 | €23,892 | +€15,420 | +182% |
| Operating profit (loss) | 9901 | €7,564 | €23,126 | +€15,562 | +206% |
| Financial charges | 65/66B | €49 | €45 | -€4 | -8.8% |
| Recurring financial charges | 65 | €49 | €45 | -€4 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €7,515 | €23,081 | +€15,566 | +207% |
| Income taxes | 67/77 | €1,798 | €5,143 | +€3,345 | +186% |
| Profit (loss) for the period | 9904 | €5,717 | €17,938 | +€12,221 | +214% |
| Profit (loss) for the period to be appropriated | 9905 | €5,717 | €17,938 | +€12,221 | +214% |
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 15 October 2026 via checked.be.