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
- Receivables within one year +€70,069
up €70,069 (+17.1%), from €409,653 to €479,722
of which Other amounts receivable: +€45,044
- Cash -€35,801
down €35,801 (-84.8%), from €42,200 to €6,398
mainly Contributions, distributions and other (-€102,500) and Receivables within one year (-€70,069)
- Deferred charges and accrued income +€32,575
up €32,575 (+406%), from €8,023 to €40,599
- Tangible fixed assets -€17,255
down €17,255 (-18.3%), from €94,186 to €76,931
of which Land and buildings: -€12,862
- Short-term financial debts +€51,999
new in 2025: €51,999
- Reserves +€44,030
up €44,030 (+15.6%), from €283,003 to €327,033
- Trade debts -€42,690
down €42,690 (-24.7%), from €172,754 to €130,064
- Debts after one year -€14,103
down €14,103 (-23.9%), from €59,055 to €44,952
- Tax, wage and social debts +€7,474
up €7,474 (+50.1%), from €14,925 to €22,399
- Gross operating margin +€112,577
up €112,577 (+88.0%), from €127,883 to €240,460
- Taxes +€36,374
up €36,374 (+117%), from €31,025 to €67,399
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 | €557,521 | €605,110 | +€47,588 | +8.5% |
| Fixed assets | 21/28 | €97,645 | €78,391 | -€19,255 | -19.7% |
| Intangible fixed assets | 21 | €3,460 | €1,460 | -€2,000 | -57.8% |
| Tangible fixed assets | 22/27 | €94,186 | €76,931 | -€17,255 | -18.3% |
| Land and buildings | 22 | €82,999 | €70,137 | -€12,862 | -15.5% |
| Plant, machinery and equipment | 23 | €2,614 | €2,271 | -€343 | -13.1% |
| Furniture and vehicles | 24 | €8,573 | €4,523 | -€4,050 | -47.2% |
| Current assets | 29/58 | €459,876 | €526,719 | +€66,843 | +14.5% |
| Amounts receivable within one year | 40/41 | €409,653 | €479,722 | +€70,069 | +17.1% |
| Trade receivables | 40 | €76,115 | €101,141 | +€25,025 | +32.9% |
| Other amounts receivable | 41 | €333,538 | €378,582 | +€45,044 | +13.5% |
| Cash at bank and in hand | 54/58 | €42,200 | €6,398 | -€35,801 | -84.8% |
| Deferred charges and accrued income | 490/1 | €8,023 | €40,599 | +€32,575 | +406% |
| Total equity and liabilities | 10/49 | €557,521 | €605,110 | +€47,588 | +8.5% |
| Equity | 10/15 | €295,403 | €339,433 | +€44,030 | +14.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €283,003 | €327,033 | +€44,030 | +15.6% |
| Distributable reserves | 133 | €283,003 | €327,033 | +€44,030 | +15.6% |
| Amounts payable | 17/49 | €262,119 | €265,677 | +€3,558 | +1.4% |
| Amounts payable after more than one year | 17 | €59,055 | €44,952 | -€14,103 | -23.9% |
| Financial debts | 170/4 | €59,055 | €44,952 | -€14,103 | -23.9% |
| Amounts payable within one year | 42/48 | €201,504 | €218,566 | +€17,062 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €13,825 | €14,103 | +€278 | +2.0% |
| Financial debts | 43 | - | €51,999 | +€51,999 | |
| Credit institutions | 430/8 | - | €51,999 | +€51,999 | |
| Trade debts | 44 | €172,754 | €130,064 | -€42,690 | -24.7% |
| Suppliers | 440/4 | €172,754 | €130,064 | -€42,690 | -24.7% |
| Taxes, remuneration and social security | 45 | €14,925 | €22,399 | +€7,474 | +50.1% |
| Taxes | 450/3 | €14,925 | €22,399 | +€7,474 | +50.1% |
| Accrued charges and deferred income | 492/3 | €1,560 | €2,159 | +€599 | +38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,578 | €19,255 | +€1,676 | +9.5% |
| Other operating charges | 640/8 | €1,864 | €2,952 | +€1,088 | +58.4% |
| Gross operating margin | 9900 | €127,883 | €240,460 | +€112,577 | +88.0% |
| Operating profit (loss) | 9901 | €108,441 | €218,254 | +€109,813 | +101% |
| Financial income | 75/76B | €1,397 | €448 | -€949 | -67.9% |
| Recurring financial income | 75 | €1,397 | €448 | -€949 | -67.9% |
| Financial charges | 65/66B | €6,729 | €4,772 | -€1,957 | -29.1% |
| Recurring financial charges | 65 | €6,729 | €4,772 | -€1,957 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €103,108 | €213,929 | +€110,821 | +107% |
| Income taxes | 67/77 | €31,025 | €67,399 | +€36,374 | +117% |
| Profit (loss) for the period | 9904 | €72,083 | €146,530 | +€74,447 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €72,083 | €146,530 | +€74,447 | +103% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.