ADMODUM: 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.
What changed
ADMODUM
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€125,752
2024 · €162,609-€36,856
Equity
€2.0m
2024 · €1.8m+€125,752
Cash
€31,362
2024 · €107,190-€75,828
Balance sheet total
€2.6m
2024 · €2.4m+€154,319
Largest movements
Assets
- Receivables after one year +€150,000
up €150,000, from €0 to €150,000
- Cash -€75,828
down €75,828 (-70.7%), from €107,190 to €31,362
mainly Receivables after one year (-€150,000) and Investment in fixed assets (net) (-€64,129)
- Tangible fixed assets +€27,728
up €27,728 (+5.6%), from €499,145 to €526,873
of which Leasing and similar rights: +€37,741
Equity and liabilities
- Reserves +€125,752
up €125,752 (+6.9%), from €1.8m to €1.9m
of which Distributable reserves: +€125,752
Income statement
- Financial charges +€119,768
up €119,768, from -€103,713 to €16,055
- Gross operating margin +€60,590
up €60,590 (+48.3%), from €125,336 to €185,926
- Financial income +€19,608
up €19,608 (+154%), from €12,757 to €32,365
- Taxes -€7,485
down €7,485 (-12.6%), from €59,328 to €51,844
- Depreciation +€4,152
up €4,152 (+24.0%), from €17,301 to €21,453
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.
Result 2024
€162,609
Gross operating margin
+€60,590
Depreciation
-€4,152
Other operating charges
-€620
Financial income
+€19,608
Financial charges
-€119,768
Taxes
+€7,485
Result 2025
€125,752
raises the resultlowers the result
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.
From operations
-€767
Investment
-€85,800
Financing
+€10,739
Cash 2024
€107,190
From operations (derived)
-€767
Net result for the year
+€125,752
Depreciation
+€21,453
Receivables after one year
-€150,000
Receivables within one year
-€2,394
Deferred charges and accrued income
-€13,406
Trade debts
+€9,360
Tax, wage and social debts
+€711
Other debts
+€3,507
Accrued charges and deferred income
+€4,251
Investment (derived)
-€85,800
Investment in fixed assets (net)
-€64,129
Current investments
-€21,671
Financing
+€10,739
Debts after one year
-€3,225
Current portion of long-term debt
+€12,435
Short-term financial debts
+€1,528
Cash 2025
€31,362
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,418,729 | €2,573,049 | +€154,319 | +6.4% |
| Fixed assets | 21/28 | €648,533 | €691,209 | +€42,676 | +6.6% |
| Tangible fixed assets | 22/27 | €499,145 | €526,873 | +€27,728 | +5.6% |
| Land and buildings | 22 | €488,897 | €477,592 | -€11,306 | -2.3% |
| Plant, machinery and equipment | 23 | €2,896 | €6,634 | +€3,738 | +129% |
| Furniture and vehicles | 24 | €7,352 | €4,906 | -€2,445 | -33.3% |
| Leasing and similar rights | 25 | - | €37,741 | +€37,741 | |
| Financial fixed assets | 28 | €149,388 | €164,336 | +€14,948 | +10.0% |
| Current assets | 29/58 | €1,770,197 | €1,881,840 | +€111,643 | +6.3% |
| Amounts receivable after more than one year | 29 | €0 | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | €0 | €150,000 | +€150,000 | |
| Amounts receivable within one year | 40/41 | €50,005 | €52,400 | +€2,394 | +4.8% |
| Trade receivables | 40 | €33,186 | €52,349 | +€19,163 | +57.7% |
| Other amounts receivable | 41 | €16,819 | €50 | -€16,769 | -99.7% |
| Current investments | 50/53 | €1,610,892 | €1,632,563 | +€21,671 | +1.3% |
| Cash at bank and in hand | 54/58 | €107,190 | €31,362 | -€75,828 | -70.7% |
| Deferred charges and accrued income | 490/1 | €2,110 | €15,515 | +€13,406 | +635% |
| Total equity and liabilities | 10/49 | €2,418,729 | €2,573,049 | +€154,319 | +6.4% |
| Equity | 10/15 | €1,840,093 | €1,965,845 | +€125,752 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,821,493 | €1,947,245 | +€125,752 | +6.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €145,050 | €145,050 | = | 0.0% |
| Distributable reserves | 133 | €1,674,583 | €1,800,335 | +€125,752 | +7.5% |
| Amounts payable | 17/49 | €578,636 | €607,203 | +€28,567 | +4.9% |
| Amounts payable after more than one year | 17 | €461,440 | €458,216 | -€3,225 | -0.7% |
| Financial debts | 170/4 | €461,440 | €458,216 | -€3,225 | -0.7% |
| Amounts payable within one year | 42/48 | €113,248 | €140,788 | +€27,541 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €25,861 | €38,296 | +€12,435 | +48.1% |
| Financial debts | 43 | - | €1,528 | +€1,528 | |
| Credit institutions | 430/8 | - | €1,528 | +€1,528 | |
| Trade debts | 44 | €7,118 | €16,478 | +€9,360 | +131% |
| Suppliers | 440/4 | €7,118 | €16,478 | +€9,360 | +131% |
| Taxes, remuneration and social security | 45 | €38,423 | €39,134 | +€711 | +1.9% |
| Taxes | 450/3 | €35,859 | €39,134 | +€3,275 | +9.1% |
| Remuneration and social security | 454/9 | €2,564 | €0 | -€2,564 | -100% |
| Other amounts payable | 47/48 | €41,846 | €45,353 | +€3,507 | +8.4% |
| Accrued charges and deferred income | 492/3 | €3,948 | €8,199 | +€4,251 | +108% |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,301 | €21,453 | +€4,152 | +24.0% |
| Other operating charges | 640/8 | €2,568 | €3,188 | +€620 | +24.1% |
| Gross operating margin | 9900 | €125,336 | €185,926 | +€60,590 | +48.3% |
| Operating profit (loss) | 9901 | €105,468 | €161,286 | +€55,818 | +52.9% |
| Financial income | 75/76B | €12,757 | €32,365 | +€19,608 | +154% |
| Recurring financial income | 75 | €12,757 | €32,365 | +€19,608 | +154% |
| Financial charges | 65/66B | -€103,713 | €16,055 | +€119,768 | |
| Recurring financial charges | 65 | -€103,713 | €16,055 | +€119,768 | |
| Profit (loss) for the period before taxes | 9903 | €221,937 | €177,596 | -€44,341 | -20.0% |
| Income taxes | 67/77 | €59,328 | €51,844 | -€7,485 | -12.6% |
| Profit (loss) for the period | 9904 | €162,609 | €125,752 | -€36,856 | -22.7% |
| Transfer from tax-exempt reserves | 789 | €195,720 | €0 | -€195,720 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €358,329 | €125,752 | -€232,576 | -64.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.