adminpwd: 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.
adminpwd
Largest movements
- Tangible fixed assets +€55,216
up €55,216 (+189.3%), from €29,170 to €84,386
of which Land and buildings: +€54,450
- Cash -€53,463
down €53,463 (-46.6%), from €114,698 to €61,235
mainly Investment in fixed assets (net) (-€72,039) and Tax, wage and social debts (-€40,936)
- Receivables within one year +€21,958
up €21,958 (+1191.8%), from €1,842 to €23,800
of which Other amounts receivable: +€16,288
- Deferred charges and accrued income +€3,850
up €3,850 (+4515.7%), from €85 to €3,935
- Tax, wage and social debts -€40,936
down €40,936 (-76.3%), from €53,678 to €12,742
of which Taxes: -€42,835
- Debts after one year +€33,536
new in 2025: €33,536
- Advances received +€18,392
new in 2025: €18,392
- Current portion of long-term debt +€9,541
new in 2025: €9,541
- Other debts +€4,148
up €4,148 (+5.8%), from €71,002 to €75,150
- Gross operating margin -€28,630
down €28,630 (-28.9%), from €98,967 to €70,337
- Taxes -€11,145
down €11,145 (-44.5%), from €25,019 to €13,874
- Depreciation +€10,714
up €10,714 (+175.4%), from €6,110 to €16,824
- Financial charges +€1,291
up €1,291 (+217.4%), from €594 to €1,885
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 | €146,046 | €173,606 | +€27,560 | +18.9% |
| Fixed assets | 21/28 | €29,420 | €84,636 | +€55,216 | +187.7% |
| Tangible fixed assets | 22/27 | €29,170 | €84,386 | +€55,216 | +189.3% |
| Land and buildings | 22 | - | €54,450 | +€54,450 | |
| Plant, machinery and equipment | 23 | €20,837 | €20,849 | +€12 | +0.1% |
| Furniture and vehicles | 24 | €8,333 | €9,087 | +€754 | +9.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €116,626 | €88,970 | -€27,656 | -23.7% |
| Amounts receivable within one year | 40/41 | €1,842 | €23,800 | +€21,958 | +1191.8% |
| Trade receivables | 40 | €1,533 | €7,203 | +€5,670 | +369.9% |
| Other amounts receivable | 41 | €309 | €16,597 | +€16,288 | +5264.0% |
| Cash at bank and in hand | 54/58 | €114,698 | €61,235 | -€53,463 | -46.6% |
| Deferred charges and accrued income | 490/1 | €85 | €3,935 | +€3,850 | +4515.7% |
| Total equity and liabilities | 10/49 | €146,046 | €173,606 | +€27,560 | +18.9% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €127,446 | €155,006 | +€27,560 | +21.6% |
| Amounts payable after more than one year | 17 | - | €33,536 | +€33,536 | |
| Financial debts | 170/4 | - | €33,536 | +€33,536 | |
| Amounts payable within one year | 42/48 | €127,446 | €121,470 | -€5,976 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,541 | +€9,541 | |
| Trade debts | 44 | €2,767 | €5,646 | +€2,880 | +104.1% |
| Suppliers | 440/4 | €2,767 | €5,646 | +€2,880 | +104.1% |
| Advances received on contracts in progress | 46 | - | €18,392 | +€18,392 | |
| Taxes, remuneration and social security | 45 | €53,678 | €12,742 | -€40,936 | -76.3% |
| Taxes | 450/3 | €53,678 | €10,843 | -€42,835 | -79.8% |
| Remuneration and social security | 454/9 | - | €1,899 | +€1,899 | |
| Other amounts payable | 47/48 | €71,002 | €75,150 | +€4,148 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,110 | €16,824 | +€10,714 | +175.4% |
| Other operating charges | 640/8 | €1,914 | €2,220 | +€306 | +16.0% |
| Gross operating margin | 9900 | €98,967 | €70,337 | -€28,630 | -28.9% |
| Operating profit (loss) | 9901 | €90,943 | €51,293 | -€39,650 | -43.6% |
| Financial income | 75/76B | €440 | - | -€440 | |
| Recurring financial income | 75 | €440 | - | -€440 | |
| Financial charges | 65/66B | €594 | €1,885 | +€1,291 | +217.4% |
| Recurring financial charges | 65 | €594 | €1,885 | +€1,291 | +217.4% |
| Profit (loss) for the period before taxes | 9903 | €90,789 | €49,408 | -€41,381 | -45.6% |
| Income taxes | 67/77 | €25,019 | €13,874 | -€11,145 | -44.5% |
| Profit (loss) for the period | 9904 | €65,770 | €35,534 | -€30,236 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,770 | €35,534 | -€30,236 | -46.0% |
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 29 September 2026 via checked.be.