THE ADMINCOMPANY: 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.
THE ADMINCOMPANY
Largest movements
- Cash +€45,745
up €45,745 (+31.3%), from €146,382 to €192,127
mainly Net result for the year (+€52,910) and Depreciation (+€33,457)
- Tangible fixed assets -€30,579
down €30,579 (-12.3%), from €247,995 to €217,415
of which Land and buildings: -€27,303
- Receivables within one year -€5,414
down €5,414 (-13.0%), from €41,692 to €36,278
of which Trade receivables: -€15,411
- Reserves +€52,051
up €52,051 (+28.5%), from €182,628 to €234,680
of which Distributable reserves: +€52,051
- Debts after one year -€38,944
down €38,944 (-56.4%), from €69,000 to €30,055
- Tax, wage and social debts -€31,569
down €31,569 (-61.0%), from €51,755 to €20,185
of which Taxes: -€27,785
- Trade debts +€17,491
up €17,491 (+127%), from €13,778 to €31,269
- Short-term financial debts +€4,948
new in 2025: €4,948
- Gross operating margin -€74,553
down €74,553 (-33.2%), from €224,478 to €149,926
- Taxes -€37,399
down €37,399 (-64.9%), from €57,613 to €20,215
- Other operating charges +€20,987
up €20,987 (+892%), from €2,351 to €23,338
- Write-downs -€16,161
down €16,161 (-1,257%), from -€1,286 to -€17,446
- Staff costs +€3,601
up €3,601 (+12.5%), from €28,870 to €32,470
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 | €440,448 | €448,427 | +€7,979 | +1.8% |
| Fixed assets | 21/28 | €247,995 | €217,415 | -€30,579 | -12.3% |
| Tangible fixed assets | 22/27 | €247,995 | €217,415 | -€30,579 | -12.3% |
| Land and buildings | 22 | €234,526 | €207,223 | -€27,303 | -11.6% |
| Plant, machinery and equipment | 23 | €13,190 | €8,124 | -€5,066 | -38.4% |
| Furniture and vehicles | 24 | €279 | €2,068 | +€1,790 | +642% |
| Current assets | 29/58 | €192,453 | €231,012 | +€38,558 | +20.0% |
| Amounts receivable within one year | 40/41 | €41,692 | €36,278 | -€5,414 | -13.0% |
| Trade receivables | 40 | €41,498 | €26,088 | -€15,411 | -37.1% |
| Other amounts receivable | 41 | €194 | €10,191 | +€9,997 | +5,150% |
| Cash at bank and in hand | 54/58 | €146,382 | €192,127 | +€45,745 | +31.3% |
| Deferred charges and accrued income | 490/1 | €4,380 | €2,607 | -€1,773 | -40.5% |
| Total equity and liabilities | 10/49 | €440,448 | €448,427 | +€7,979 | +1.8% |
| Equity | 10/15 | €246,778 | €298,829 | +€52,051 | +21.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €182,628 | €234,680 | +€52,051 | +28.5% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €176,478 | €228,530 | +€52,051 | +29.5% |
| Profit (loss) carried forward | 14 | €2,650 | €2,650 | = | 0.0% |
| Amounts payable | 17/49 | €193,670 | €149,598 | -€44,072 | -22.8% |
| Amounts payable after more than one year | 17 | €69,000 | €30,055 | -€38,944 | -56.4% |
| Financial debts | 170/4 | €69,000 | €30,055 | -€38,944 | -56.4% |
| Amounts payable within one year | 42/48 | €124,670 | €119,542 | -€5,128 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €45,681 | €49,550 | +€3,869 | +8.5% |
| Financial debts | 43 | - | €4,948 | +€4,948 | |
| Credit institutions | 430/8 | - | €4,948 | +€4,948 | |
| Trade debts | 44 | €13,778 | €31,269 | +€17,491 | +127% |
| Suppliers | 440/4 | €13,778 | €31,269 | +€17,491 | +127% |
| Advances received on contracts in progress | 46 | - | €700 | +€700 | |
| Taxes, remuneration and social security | 45 | €51,755 | €20,185 | -€31,569 | -61.0% |
| Taxes | 450/3 | €37,561 | €9,776 | -€27,785 | -74.0% |
| Remuneration and social security | 454/9 | €14,193 | €10,409 | -€3,784 | -26.7% |
| Other amounts payable | 47/48 | €13,457 | €12,890 | -€566 | -4.2% |
| Remuneration, social security and pensions | 62 | €28,870 | €32,470 | +€3,601 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,112 | €33,457 | +€345 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,286 | -€17,446 | -€16,161 | -1,257% |
| Other operating charges | 640/8 | €2,351 | €23,338 | +€20,987 | +892% |
| Non-recurring operating charges | 66A | €1,286 | €0 | -€1,286 | -100% |
| Gross operating margin | 9900 | €224,478 | €149,926 | -€74,553 | -33.2% |
| Operating profit (loss) | 9901 | €160,144 | €78,106 | -€82,039 | -51.2% |
| Financial income | 75/76B | €201 | €810 | +€609 | +303% |
| Recurring financial income | 75 | €201 | €810 | +€609 | +303% |
| Financial charges | 65/66B | €9,064 | €5,790 | -€3,273 | -36.1% |
| Recurring financial charges | 65 | €9,064 | €5,790 | -€3,273 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €151,282 | €73,125 | -€78,156 | -51.7% |
| Income taxes | 67/77 | €57,613 | €20,215 | -€37,399 | -64.9% |
| Profit (loss) for the period | 9904 | €93,668 | €52,910 | -€40,758 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,668 | €52,910 | -€40,758 | -43.5% |
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 22 October 2026 via checked.be.