AMM CONSTRUCT
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00538478.
Annual accounts 2025 filed on 30-09-2026 at the NBB all 6 filings
Turnover
€19,746
EBIT margin
-8.6%
Net result
€39,426▲ 459%
2024 · €7,052
Working capital
€118,172▲ 89.9%
2024 · €62,213
Multi-year overview
2020 to 2025, 6 financial yearsTurnover
no figure
2025
20202025
Operating result
€129,851
▲ 237%
2025
20202025
Net result
€39,426
▲ 459%
2025
highest quarter of the sector
20202025
EBIT margin
no figure
2025
20202025
Equity
€152,996
▲ 34.7%
2025
highest quarter of the sector
20202025
Total assets
€206,151
▲ 12.5%
2025
middle half of the sector
20202025
Debt
€53,155
▼ 23.7%
2025
20202025
Working capital
€118,172
▲ 89.9%
2025
highest quarter of the sector
20202025
Solvency
74.2%
▲ 12.2pp
2025
highest quarter of the sector
20202025
Current ratio
3.22
▲ 1.33
2025
highest quarter of the sector
20202025
Return on assets (ROA)
19.1%
▲ 15.3pp
2025
middle half of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Turnover€19,746-
Operating result-€1,706-€7,454€113,530▲ 15×€85,150▼ 25.0%€38,522▼ 54.8%€129,851▲ 237%
Net result-€1,740below the sector's middle half-€6,130within the sector's middle half€58,825above the sector's middle half▲ 860%€41,304above the sector's middle half▼ 29.8%€7,052within the sector's middle half▼ 82.9%€39,426above the sector's middle half▲ 459%
EBIT margin-8.6%-
Equity€260below the sector's middle half-€6,389below the sector's middle half▲ 25×€65,214within the sector's middle half▲ 921%€106,518within the sector's middle half▲ 63.3%€113,570above the sector's middle half▲ 6.6%€152,996above the sector's middle half▲ 34.7%
Total assets€3,324below the sector's middle half-€23,603below the sector's middle half▲ 610%€409,155above the sector's middle half▲ 17×€364,751above the sector's middle half▼ 10.9%€183,260within the sector's middle half▼ 49.8%€206,151within the sector's middle half▲ 12.5%
Debt€3,065-€17,214▲ 462%€343,940▲ 20×€258,233▼ 24.9%€69,690▼ 73.0%€53,155▼ 23.7%
Working capital€260below the sector's middle half-€6,389within the sector's middle half▲ 25×€29,244within the sector's middle half▲ 358%€14,483within the sector's middle half▼ 50.5%€62,213within the sector's middle half▲ 330%€118,172above the sector's middle half▲ 89.9%
Solvency27.1%within the sector's middle half15.9%below the sector's middle half▼ 11.1pp29.2%within the sector's middle half▲ 13.3pp62.0%within the sector's middle half▲ 32.8pp74.2%above the sector's middle half▲ 12.2pp
Current ratio1.37within the sector's middle half1.09within the sector's middle half▼ 0.291.06within the sector's middle half▼ 0.031.89within the sector's middle half▲ 0.843.22above the sector's middle half▲ 1.33
Return on assets (ROA)26.0%above the sector's middle half14.4%within the sector's middle half▼ 11.6pp11.3%within the sector's middle half▼ 3.1pp3.8%within the sector's middle half▼ 7.5pp19.1%within the sector's middle half▲ 15.3pp
Staff (FTE)0.9
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 3.4 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €206,151
Fixed assets
€34,824 ▼ 32.2%
Current assets
€171,327 ▲ 29.9%
Equity and liabilities €206,151
Equity
€152,996 ▲ 34.7%
Debt
€53,155 ▼ 23.7%
Debt's share of the balance-sheet total falls from 38.0% to 25.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€156,982▲
2024 · €77,210
Cash flow
€66,556▲
2024 · €45,741
Debt to equity
0.35▼
2024 · 0.61
ROE
25.8%▲
2024 · 6.2%
Interest coverage
1.74▼
2024 · 2.71
Debt ≤ 1 year
€53,155▼
2024 · €69,690
Staff costs
€45,940▲
2024 · €41,961
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 0.9 |
| On a permanent contract | 1 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €49,033 | €71,011 | - | €15,060 |
| Depreciation and write-downs of the year | - | €11,559 | €14,947 | €38,689 | €27,130 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €19,746 | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €31,781 | €41,961 | €45,940 | ▲ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €11,559 | €14,947 | €38,689 | €27,130 | ▼ 29.9% |
| Other operating charges640/8 | - | - | - | - | €81 | - | - |
| Gross operating margin9900 | -€1,706 | €7,454 | €125,088 | €131,878 | €119,252 | €202,921 | ▲ 70.2% |
| Operating profit (loss)9901 | -€1,706 | €7,454 | €113,530 | €85,150 | €38,522 | €129,851 | ▲ 237% |
| Financial income75/76B | - | - | €795 | €1,355 | €186 | €0 | ▼ 100.0% |
| Recurring financial income75 | - | - | €795 | €1,355 | €186 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | €124 | €42,750 | €30,012 | €28,456 | €90,426 | ▲ 218% |
| Recurring financial charges65 | €34 | €124 | €42,750 | €30,012 | €28,456 | €90,426 | ▲ 218% |
| Profit (loss) for the period before taxes9903 | -€1,740 | €7,330 | €71,575 | €56,493 | €10,252 | €39,426 | ▲ 285% |
| Income taxes67/77 | - | €1,200 | €12,750 | €15,189 | €3,200 | - | - |
| Profit (loss) for the period9904 | -€1,740 | €6,130 | €58,825 | €41,304 | €7,052 | €39,426 | ▲ 459% |
| Profit (loss) for the period to be appropriated9905 | -€1,740 | €6,130 | €58,825 | €41,304 | €7,052 | €39,426 | ▲ 459% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €3,324 | €23,603 | €409,155 | €364,751 | €183,260 | €206,151 | ▲ 12.5% |
| Fixed assets21/28 | - | - | €35,971 | €92,034 | €51,357 | €34,824 | ▼ 32.2% |
| Tangible fixed assets22/27 | - | - | €35,971 | €92,034 | €51,357 | €34,824 | ▼ 32.2% |
| Furniture and vehicles24 | - | - | €35,971 | €92,034 | €51,357 | €34,824 | ▼ 32.2% |
| Current assets29/58 | €3,324 | €23,603 | €373,184 | €272,716 | €131,903 | €171,327 | ▲ 29.9% |
| Amounts receivable within one year40/41 | €3,146 | €18,763 | €372,802 | €263,488 | €84,889 | €147,539 | ▲ 73.8% |
| Trade receivables40 | - | €5,383 | €358,739 | €214,262 | €44,531 | €90,772 | ▲ 104% |
| Other amounts receivable41 | - | €13,380 | €14,063 | €49,226 | €40,359 | €56,767 | ▲ 40.7% |
| Cash at bank and in hand54/58 | €178 | €4,841 | €382 | €9,228 | €47,014 | €23,788 | ▼ 49.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €3,324 | €23,603 | €409,155 | €364,751 | €183,260 | €206,151 | ▲ 12.5% |
| Equity10/15 | €260 | €6,389 | €65,214 | €106,518 | €113,570 | €152,996 | ▲ 34.7% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | - | €200 | €200 | €200 | €200 | €200 | = |
| Distributable reserves133 | - | €200 | €200 | €200 | €200 | €200 | = |
| Profit (loss) carried forward14 | -€1,740 | €4,189 | €63,014 | €104,318 | €111,370 | €150,796 | ▲ 35.4% |
| Amounts payable17/49 | €3,065 | €17,214 | €343,940 | €258,233 | €69,690 | €53,155 | ▼ 23.7% |
| Amounts payable within one year42/48 | €3,065 | €17,214 | €343,940 | €258,233 | €69,690 | €53,155 | ▼ 23.7% |
| Trade debts44 | - | - | €312,889 | €88,266 | €5,276 | €48 | ▼ 99.1% |
| Suppliers440/4 | - | - | €312,889 | €88,266 | €5,276 | €48 | ▼ 99.1% |
| Taxes, remuneration and social security45 | - | €9,142 | €23,111 | €39,911 | €41,583 | €45,578 | ▲ 9.6% |
| Taxes450/3 | - | €9,142 | €23,111 | €36,246 | €38,144 | €42,637 | ▲ 11.8% |
| Remuneration and social security454/9 | - | - | - | €3,665 | €3,439 | €2,941 | ▼ 14.5% |
| Other amounts payable47/48 | - | €8,071 | €7,940 | €130,056 | €22,831 | €7,528 | ▼ 67.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,740 | €6,130 | €58,825 | €41,304 | €7,052 | €39,426 | ▲ 459% |
| + Depreciation and write-downs630 | - | - | €11,559 | €14,947 | €38,689 | €27,130 | ▼ 29.9% |
| Operating cash flow (approximation) | -€1,740 | €6,130 | €70,384 | €56,251 | €45,741 | €66,556 | ▲ 45.5% |
| Investment in fixed assets (approximation) | - | - | - | -€71,011 | €1,989 | -€10,597 | - |
| Change in cash | - | €4,662 | -€4,459 | €8,846 | €37,786 | -€23,226 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as AMM CONSTRUCT has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of AMM CONSTRUCT itself is higher: 2.5% within 12 months. It rests on far more data about AMM CONSTRUCT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for AMM CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00538478 | |
| 31-12-2024 | micro format | 31-12-2025 | 2026-00000843 | |
| 31-12-2023 | micro format | 06-11-2024 | 2024-00529306 | |
| 31-12-2022 | micro format | 21-11-2023 | 2023-00514341 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20447320 | |
| 31-12-2020 | full format | 18-11-2021 | 2021-77600395 |