ADMIRALSOFT: 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.
ADMIRALSOFT
Largest movements
- Cash +€40,980
up €40,980 (+20.7%), from €198,147 to €239,127
mainly Accrued charges and deferred income (+€35,396) and Net result for the year (+€32,862)
- Accrued charges and deferred income +€35,396
new in 2025: €35,396
- Reserves +€32,862
up €32,862 (+23.0%), from €143,023 to €175,885
- Trade debts -€19,389
down €19,389 (-61.1%), from €31,725 to €12,336
- Tax, wage and social debts -€7,982
down €7,982 (-37.1%), from €21,496 to €13,513
- Gross operating margin -€34,694
down €34,694 (-42.5%), from €81,569 to €46,875
- Taxes -€5,218
down €5,218 (-30.6%), from €17,030 to €11,812
- Financial income +€829
up €829 (+548.3%), from €151 to €980
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 | €211,529 | €252,588 | +€41,059 | +19.4% |
| Fixed assets | 21/28 | €7,742 | €6,185 | -€1,557 | -20.1% |
| Tangible fixed assets | 22/27 | €7,742 | €6,185 | -€1,557 | -20.1% |
| Furniture and vehicles | 24 | €4,481 | €3,740 | -€742 | -16.5% |
| Other tangible fixed assets | 26 | €3,260 | €2,445 | -€815 | -25.0% |
| Current assets | 29/58 | €203,787 | €246,403 | +€42,615 | +20.9% |
| Amounts receivable within one year | 40/41 | €5,640 | €7,276 | +€1,636 | +29.0% |
| Trade receivables | 40 | €0 | €787 | +€787 | |
| Other amounts receivable | 41 | €5,640 | €6,489 | +€849 | +15.0% |
| Cash at bank and in hand | 54/58 | €198,147 | €239,127 | +€40,980 | +20.7% |
| Total equity and liabilities | 10/49 | €211,529 | €252,588 | +€41,059 | +19.4% |
| Equity | 10/15 | €155,423 | €188,285 | +€32,862 | +21.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €143,023 | €175,885 | +€32,862 | +23.0% |
| Distributable reserves | 133 | €143,023 | €175,885 | +€32,862 | +23.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,106 | €64,303 | +€8,197 | +14.6% |
| Amounts payable within one year | 42/48 | €56,106 | €28,907 | -€27,200 | -48.5% |
| Trade debts | 44 | €31,725 | €12,336 | -€19,389 | -61.1% |
| Suppliers | 440/4 | €31,725 | €12,336 | -€19,389 | -61.1% |
| Taxes, remuneration and social security | 45 | €21,496 | €13,513 | -€7,982 | -37.1% |
| Taxes | 450/3 | €21,496 | €13,513 | -€7,982 | -37.1% |
| Other amounts payable | 47/48 | €2,885 | €3,058 | +€172 | +6.0% |
| Accrued charges and deferred income | 492/3 | - | €35,396 | +€35,396 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,557 | €1,557 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,585 | €1,159 | -€426 | -26.9% |
| Gross operating margin | 9900 | €81,569 | €46,875 | -€34,694 | -42.5% |
| Operating profit (loss) | 9901 | €78,427 | €44,159 | -€34,268 | -43.7% |
| Financial income | 75/76B | €151 | €980 | +€829 | +548.3% |
| Recurring financial income | 75 | €151 | €980 | +€829 | +548.3% |
| Financial charges | 65/66B | €727 | €465 | -€262 | -36.0% |
| Recurring financial charges | 65 | €727 | €465 | -€262 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €77,851 | €44,673 | -€33,177 | -42.6% |
| Income taxes | 67/77 | €17,030 | €11,812 | -€5,218 | -30.6% |
| Profit (loss) for the period | 9904 | €60,821 | €32,862 | -€27,959 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,821 | €32,862 | -€27,959 | -46.0% |
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 12 October 2026 via checked.be.