A.A. MANAGEMENT: 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.
A.A. MANAGEMENT
Largest movements
- Current investments +€51,001
up €51,001 (+134%), from €38,069 to €89,070
- Cash +€49,893
up €49,893 (+36.9%), from €135,202 to €185,095
mainly Net result for the year (+€97,116) and Depreciation (+€34,276)
- Tangible fixed assets -€29,694
down €29,694 (-27.0%), from €110,025 to €80,331
of which Furniture and vehicles: -€27,341
- Reserves +€94,616
up €94,616 (+42.8%), from €220,946 to €315,562
- Debts after one year -€13,726
down €13,726 (-54.2%), from €25,306 to €11,580
- Other debts -€12,271
down €12,271 (-30.7%), from €39,941 to €27,670
- Tax, wage and social debts +€6,640
up €6,640 (+93.1%), from €7,134 to €13,774
- Gross operating margin +€32,990
up €32,990 (+24.3%), from €136,021 to €169,011
- Taxes +€11,180
up €11,180 (+39.1%), from €28,600 to €39,780
- Depreciation -€2,520
down €2,520 (-6.8%), from €36,796 to €34,276
- Financial income +€2,404
up €2,404 (+167%), from €1,440 to €3,843
of which Financial income: +€2,404
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 | €311,353 | €385,647 | +€74,293 | +23.9% |
| Fixed assets | 21/28 | €110,025 | €80,331 | -€29,694 | -27.0% |
| Tangible fixed assets | 22/27 | €110,025 | €80,331 | -€29,694 | -27.0% |
| Plant, machinery and equipment | 23 | €2,174 | €1,902 | -€272 | -12.5% |
| Furniture and vehicles | 24 | €100,028 | €72,687 | -€27,341 | -27.3% |
| Other tangible fixed assets | 26 | €7,823 | €5,742 | -€2,081 | -26.6% |
| Current assets | 29/58 | €201,329 | €305,316 | +€103,987 | +51.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €26,944 | €29,770 | +€2,826 | +10.5% |
| Trade receivables | 40 | €26,924 | €29,770 | +€2,846 | +10.6% |
| Other amounts receivable | 41 | €20 | €0 | -€20 | -100% |
| Current investments | 50/53 | €38,069 | €89,070 | +€51,001 | +134% |
| Cash at bank and in hand | 54/58 | €135,202 | €185,095 | +€49,893 | +36.9% |
| Deferred charges and accrued income | 490/1 | €1,114 | €1,380 | +€266 | +23.9% |
| Total equity and liabilities | 10/49 | €311,353 | €385,647 | +€74,293 | +23.9% |
| Equity | 10/15 | €220,946 | €315,562 | +€94,616 | +42.8% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €220,946 | €315,562 | +€94,616 | +42.8% |
| Distributable reserves | 133 | €220,946 | €315,562 | +€94,616 | +42.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,407 | €70,085 | -€20,323 | -22.5% |
| Amounts payable after more than one year | 17 | €25,306 | €11,580 | -€13,726 | -54.2% |
| Financial debts | 170/4 | €25,306 | €11,580 | -€13,726 | -54.2% |
| Amounts payable within one year | 42/48 | €65,101 | €58,505 | -€6,596 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €13,544 | €13,726 | +€182 | +1.3% |
| Trade debts | 44 | €4,483 | €3,335 | -€1,148 | -25.6% |
| Suppliers | 440/4 | €4,483 | €3,335 | -€1,148 | -25.6% |
| Taxes, remuneration and social security | 45 | €7,134 | €13,774 | +€6,640 | +93.1% |
| Taxes | 450/3 | €7,134 | €13,774 | +€6,640 | +93.1% |
| Other amounts payable | 47/48 | €39,941 | €27,670 | -€12,271 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,796 | €34,276 | -€2,520 | -6.8% |
| Other operating charges | 640/8 | €2,291 | €986 | -€1,305 | -57.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €136,021 | €169,011 | +€32,990 | +24.3% |
| Operating profit (loss) | 9901 | €96,935 | €133,750 | +€36,815 | +38.0% |
| Financial income | 75/76B | €1,440 | €3,843 | +€2,404 | +167% |
| Recurring financial income | 75 | €1,440 | €3,843 | +€2,404 | +167% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €826 | €697 | -€129 | -15.6% |
| Recurring financial charges | 65 | €826 | €697 | -€129 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €97,548 | €136,896 | +€39,348 | +40.3% |
| Income taxes | 67/77 | €28,600 | €39,780 | +€11,180 | +39.1% |
| Profit (loss) for the period | 9904 | €68,949 | €97,116 | +€28,167 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,949 | €97,116 | +€28,167 | +40.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.