Admiral Markets AS reported a sharp reversal in 2025,registering a net trading income of EUR -1 million, down from EUR13.5 million a year earlier. The Estonia-based CFD broker blamed reduced trading inits core European markets and the ongoing impact from an earlier temporary halt in newEU clients.Trading Income Collapses, Loss WidensAccording to the unaudited results announced Thursday, net gains from trading with clients and liquidity providersfell to EUR 18.5 million from EUR 37.4 million, a decline of roughly 51%. Atthe bottom line, Admiral Markets posted a net loss of EUR 16.2 million,compared with a net profit of EUR 0.355 million in 2024.Meanwhile, earnings per share fell from EUR 0.88 to EUR -40. Despite the personnel expenses declining by about 5% to EUR 3.8 million from EUR 4million, operating expenses rose around 22% to EUR 9.3 million from EUR 7.6million.Read more: Admirals Cancels UAE License While Selling Australian SubsidiaryInterest income also turned from a positive contribution toa drag. Interest income calculated using the effective interest method movedfrom EUR 1.4 million in 2024 to EUR -1.0 million in 2025. Net gains on exchangerate changes dropped from EUR 0.2 million to a loss of EUR 0.6 million.Total assets decreased to EUR 62 million at the end of 2025from EUR 74.7 million a year earlier, a fall of about 17%. Amounts due fromcredit institutions slipped around 9% to EUR 17.6 million, while amounts duefrom investment companies dropped roughly 30% to EUR 9.3 million. Loans andreceivables fell about 14% to EUR 25.1 million.Balance Sheet Shrinks, Equity ErodesDespite the weaker year, the group remained wellcapitalized. Total equity declined to EUR 54.1 million from EUR 70.2 million,down about 23%, as retained earnings fell to EUR 51.2 million from EUR 67.4million. Total liabilities rose to EUR 7.9 million from EUR 4.4 million, mainlydue to higher liabilities and prepayments.In 2024, Admirals temporarily suspended new client registrations in the European Union, citing regulatory challenges. However, thebroker mentioned that the move was a "temporary and voluntary"measure and did not affect trading or investing activities for existingclients.CEO and Co-Founder Alexander Tsikhilov mentioned then that:" This decision is related to our efforts to comply with and adapt to therecommendations of the CySEC regulator and affects only our activities in theEU countries. Our current customer base in Europe remains intact, and we willcontinue to ensure stable access for our clients to our products andservices."However, last year March, the broker reopened onboarding for new clients in the region after the pause, saying it had strengthened its compliance framework while keeping services for existing clients uninterrupted.In another recent development, Admirals Group AS said itsUAE subsidiary, Admirals MENA Limited, has applied to cancel its Financial Services Permission from the local regulator. The group is also selling itsAustralian subsidiary as part of efforts to streamline its geographic focus.This article was written by Jared Kirui at www.financemagnates.com.