ADMZ: 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.
ADMZ
Largest movements
- Cash +€46,082
up €46,082 (+72.5%), from €63,564 to €109,646
mainly Net result for the year (+€52,616) and Receivables within one year (+€42,780)
- Receivables within one year -€42,780
down €42,780 (-80.7%), from €52,984 to €10,203
of which Trade receivables: -€52,884
- Current investments +€32,276
new in 2025: €32,276
- Reserves +€52,616
up €52,616 (+92.6%), from €56,825 to €109,442
- Tax, wage and social debts -€16,549
down €16,549 (-30.4%), from €54,375 to €37,826
- Gross operating margin -€34,875
down €34,875 (-32.6%), from €106,830 to €71,955
- Taxes -€9,793
down €9,793 (-28.7%), from €34,076 to €24,283
- Financial income +€7,951
up €7,951, from €0 to €7,951
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 | €116,548 | €152,268 | +€35,720 | +30.6% |
| Current assets | 29/58 | €116,548 | €152,268 | +€35,720 | +30.6% |
| Amounts receivable within one year | 40/41 | €52,984 | €10,203 | -€42,780 | -80.7% |
| Trade receivables | 40 | €52,984 | €100 | -€52,884 | -99.8% |
| Other amounts receivable | 41 | €0 | €10,103 | +€10,103 | |
| Current investments | 50/53 | - | €32,276 | +€32,276 | |
| Cash at bank and in hand | 54/58 | €63,564 | €109,646 | +€46,082 | +72.5% |
| Deferred charges and accrued income | 490/1 | €0 | €142 | +€142 | |
| Total equity and liabilities | 10/49 | €116,548 | €152,268 | +€35,720 | +30.6% |
| Equity | 10/15 | €61,825 | €114,442 | +€52,616 | +85.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €56,825 | €109,442 | +€52,616 | +92.6% |
| Distributable reserves | 133 | €56,825 | €109,442 | +€52,616 | +92.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €54,723 | €37,826 | -€16,896 | -30.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €54,723 | €37,826 | -€16,896 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €348 | €0 | -€348 | -100.0% |
| Suppliers | 440/4 | €348 | €0 | -€348 | -100.0% |
| Taxes, remuneration and social security | 45 | €54,375 | €37,826 | -€16,549 | -30.4% |
| Taxes | 450/3 | €54,375 | €37,826 | -€16,549 | -30.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,156 | €0 | -€12,156 | -100.0% |
| Other operating charges | 640/8 | €1,091 | €400 | -€692 | -63.4% |
| Gross operating margin | 9900 | €106,830 | €71,955 | -€34,875 | -32.6% |
| Operating profit (loss) | 9901 | €105,738 | €71,555 | -€34,183 | -32.3% |
| Financial income | 75/76B | €0 | €7,951 | +€7,951 | |
| Recurring financial income | 75 | €0 | €7,951 | +€7,951 | |
| Financial charges | 65/66B | €1,541 | €2,606 | +€1,065 | +69.1% |
| Recurring financial charges | 65 | €1,541 | €2,606 | +€1,065 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | €104,197 | €76,900 | -€27,297 | -26.2% |
| Income taxes | 67/77 | €34,076 | €24,283 | -€9,793 | -28.7% |
| Profit (loss) for the period | 9904 | €70,121 | €52,616 | -€17,504 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,121 | €52,616 | -€17,504 | -25.0% |
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 4 October 2026 via checked.be.