ADMIN SADI: 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.
ADMIN SADI
Largest movements
- Cash -€301,582
down €301,582 (-88.0%), from €342,643 to €41,061
mainly Current investments (-€299,999) and Investment in fixed assets (net) (-€6,504)
- Current investments +€299,999
new in 2025: €299,999
- Receivables within one year -€6,229
down €6,229 (-42.4%), from €14,690 to €8,461
of which Trade receivables: -€4,167
- Tangible fixed assets +€5,946
up €5,946 (+8.1%), from €73,826 to €79,771
- Other debts -€4,486
down €4,486 (-7.2%), from €62,206 to €57,720
- Gross operating margin -€19,128
down €19,128 (-74.0%), from €25,844 to €6,716
- Taxes -€6,945
down €6,945 (-97.9%), from €7,091 to €145
- Financial income -€6,664
down €6,664 (-64.4%), from €10,354 to €3,690
- Other operating charges -€1,085
down €1,085 (-13.5%), from €8,029 to €6,944
- Financial charges -€463
down €463 (-26.2%), from €1,767 to €1,304
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 | €432,217 | €429,360 | -€2,857 | -0.7% |
| Fixed assets | 21/28 | €73,826 | €79,771 | +€5,946 | +8.1% |
| Tangible fixed assets | 22/27 | €73,826 | €79,771 | +€5,946 | +8.1% |
| Land and buildings | 22 | €73,826 | €79,771 | +€5,946 | +8.1% |
| Current assets | 29/58 | €358,391 | €349,589 | -€8,802 | -2.5% |
| Amounts receivable within one year | 40/41 | €14,690 | €8,461 | -€6,229 | -42.4% |
| Trade receivables | 40 | €4,167 | €0 | -€4,167 | -100.0% |
| Other amounts receivable | 41 | €10,524 | €8,461 | -€2,062 | -19.6% |
| Current investments | 50/53 | - | €299,999 | +€299,999 | |
| Cash at bank and in hand | 54/58 | €342,643 | €41,061 | -€301,582 | -88.0% |
| Deferred charges and accrued income | 490/1 | €1,058 | €68 | -€990 | -93.6% |
| Total equity and liabilities | 10/49 | €432,217 | €429,360 | -€2,857 | -0.7% |
| Equity | 10/15 | €359,057 | €360,511 | +€1,454 | +0.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €334,057 | €335,511 | +€1,454 | +0.4% |
| Distributable reserves | 133 | €334,057 | €335,511 | +€1,454 | +0.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €73,160 | €68,849 | -€4,311 | -5.9% |
| Amounts payable within one year | 42/48 | €73,136 | €68,836 | -€4,299 | -5.9% |
| Trade debts | 44 | €1,394 | €1,507 | +€114 | +8.2% |
| Suppliers | 440/4 | €1,394 | €1,507 | +€114 | +8.2% |
| Taxes, remuneration and social security | 45 | €9,536 | €9,609 | +€74 | +0.8% |
| Taxes | 450/3 | €9,536 | €9,609 | +€74 | +0.8% |
| Other amounts payable | 47/48 | €62,206 | €57,720 | -€4,486 | -7.2% |
| Accrued charges and deferred income | 492/3 | €24 | €13 | -€12 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402 | €559 | +€156 | +38.8% |
| Other operating charges | 640/8 | €8,029 | €6,944 | -€1,085 | -13.5% |
| Gross operating margin | 9900 | €25,844 | €6,716 | -€19,128 | -74.0% |
| Operating profit (loss) | 9901 | €17,412 | -€786 | -€18,199 | |
| Financial income | 75/76B | €10,354 | €3,690 | -€6,664 | -64.4% |
| Recurring financial income | 75 | €10,354 | €3,690 | -€6,664 | -64.4% |
| Financial charges | 65/66B | €1,767 | €1,304 | -€463 | -26.2% |
| Recurring financial charges | 65 | €1,767 | €1,304 | -€463 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €25,999 | €1,599 | -€24,400 | -93.8% |
| Income taxes | 67/77 | €7,091 | €145 | -€6,945 | -97.9% |
| Profit (loss) for the period | 9904 | €18,909 | €1,454 | -€17,455 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,909 | €1,454 | -€17,455 | -92.3% |
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.