Assets

The company's long-term assets have shown a moderate increase, indicating a continued investment in intangible assets such as capitalized development costs and goodwill, which is a positive sign for future growth. However, the growth in short-term assets has been relatively sluggish, suggesting that the company may be managing its working capital more conservatively. Overall, the company's total assets have remained stable, with a slight increase, indicating a balanced approach to asset management, while investments have been moderate, suggesting a cautious approach to capital allocation.

Shareholders Equity

The company's Shareholders Equity has demonstrated a stable trend, with a slight increase in the current period, indicating a solid foundation for future growth. The equity ratio, which measures the proportion of equity to total assets, has remained relatively consistent, suggesting that the company's financial structure is well-balanced. However, the decrease in retained earnings and the increase in reserve for invested unrestricted equity may indicate a shift in the company's capital allocation strategy, warranting further investigation.

The value of Admicom Equity at the end of Q2 2026 is 30.7 million Euros. The predicted value of Admicom Equity at the end of Q2 2027 (e) is 35.7 million Euros. The expected change in one year is 5 million Euros, which is a 16.4% increase from the Q2 2026 value. The Equity value is expected to decrease by 1.0 million Euros from 2025 to 2026, which is a 2.9% change. From 2026 to 2027, the Equity value is expected to increase by 4.6 million Euros, which is a 13.9% change. The year-end Equity values for 2025, 2026, and 2027 are 35.2, 33.2, and 37.8 million Euros, respectively.

*Future dividents are not included in prediction

Debt

The company's financial position appears to be stable, with a manageable level of long-term debt and a significant reduction in short-term debt, indicating a proactive approach to debt management. However, the gearing ratio remains a concern, suggesting that the company's reliance on debt financing may be limiting its flexibility and increasing its vulnerability to market fluctuations. Nevertheless, the equity ratio remains strong, indicating that the company's equity base is robust and providing a solid foundation for future growth and investment.

The Net Debt in Q2 2026 is -7.4 million Euros. The predicted Net Debt in Q2 2027 (e) is -14.3 million Euros, indicating a decrease of 6.9 million Euros in one year. This represents a 93% increase in the absolute value of Net Debt, or a 93% decrease in the negative value of Net Debt, from Q2 2026 to Q2 2027 (e). The Net Debt is expected to increase by 1.5 million Euros from 2025 to 2026, which is a 16.7% change. From 2026 to 2027, the Net Debt is expected to increase by 7.2 million Euros, representing a 68.6% change. The year-end Net Debt values for 2025, 2026, and 2027 are -9.0, -10.5, and -17.7 million Euros, respectively.