ADMINBEL: 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.
ADMINBEL
Largest movements
- Cash +€38,083
up €38,083 (+53.0%), from €71,832 to €109,915
mainly Net result for the year (+€53,329) and Depreciation (+€3,740)
- Receivables within one year +€17,463
up €17,463 (+48.1%), from €36,290 to €53,753
of which Other amounts receivable: +€20,904
- Reserves +€53,329
up €53,329 (+56.9%), from €93,682 to €147,011
- Gross operating margin +€19,955
up €19,955 (+30.3%), from €65,774 to €85,729
- Taxes +€6,169
up €6,169 (+30.9%), from €19,951 to €26,120
- Other operating charges +€1,387
up €1,387 (+80.8%), from €1,717 to €3,104
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 | €122,279 | €176,275 | +€53,997 | +44.2% |
| Fixed assets | 21/28 | €9,411 | €7,654 | -€1,757 | -18.7% |
| Tangible fixed assets | 22/27 | €9,411 | €7,654 | -€1,757 | -18.7% |
| Furniture and vehicles | 24 | €9,411 | €7,654 | -€1,757 | -18.7% |
| Current assets | 29/58 | €112,867 | €168,621 | +€55,754 | +49.4% |
| Amounts receivable within one year | 40/41 | €36,290 | €53,753 | +€17,463 | +48.1% |
| Trade receivables | 40 | €31,202 | €27,761 | -€3,441 | -11.0% |
| Other amounts receivable | 41 | €5,087 | €25,992 | +€20,904 | +411% |
| Cash at bank and in hand | 54/58 | €71,832 | €109,915 | +€38,083 | +53.0% |
| Deferred charges and accrued income | 490/1 | €4,746 | €4,954 | +€208 | +4.4% |
| Total equity and liabilities | 10/49 | €122,279 | €176,275 | +€53,997 | +44.2% |
| Equity | 10/15 | €112,282 | €165,611 | +€53,329 | +47.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €93,682 | €147,011 | +€53,329 | +56.9% |
| Distributable reserves | 133 | €93,682 | €147,011 | +€53,329 | +56.9% |
| Amounts payable | 17/49 | €9,997 | €10,665 | +€668 | +6.7% |
| Amounts payable within one year | 42/48 | €9,922 | €10,276 | +€354 | +3.6% |
| Trade debts | 44 | €3,195 | €3,412 | +€217 | +6.8% |
| Suppliers | 440/4 | €3,195 | €3,412 | +€217 | +6.8% |
| Taxes, remuneration and social security | 45 | €6,727 | €6,864 | +€137 | +2.0% |
| Taxes | 450/3 | €6,727 | €6,864 | +€137 | +2.0% |
| Accrued charges and deferred income | 492/3 | €75 | €389 | +€313 | +416% |
| Non-recurring operating income | 76A | - | €67 | +€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,396 | €3,740 | +€344 | +10.1% |
| Other operating charges | 640/8 | €1,717 | €3,104 | +€1,387 | +80.8% |
| Gross operating margin | 9900 | €65,774 | €85,729 | +€19,955 | +30.3% |
| Operating profit (loss) | 9901 | €60,661 | €78,885 | +€18,224 | +30.0% |
| Financial income | 75/76B | €248 | €858 | +€610 | +246% |
| Recurring financial income | 75 | €248 | €858 | +€610 | +246% |
| Financial charges | 65/66B | €682 | €294 | -€388 | -56.9% |
| Recurring financial charges | 65 | €682 | €294 | -€388 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €60,226 | €79,449 | +€19,222 | +31.9% |
| Income taxes | 67/77 | €19,951 | €26,120 | +€6,169 | +30.9% |
| Profit (loss) for the period | 9904 | €40,276 | €53,329 | +€13,053 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,276 | €53,329 | +€13,053 | +32.4% |
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 20 October 2026 via checked.be.