A & M: 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.
What changed
A & M
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €1.9m-€589,587
Equity
€4.7m
2024 · €4.7m+€0
Cash
€1.6m
2024 · €847,345+€712,674
Balance sheet total
€11.0m
2024 · €7.6m+€3.5m
Largest movements
Assets
- Receivables within one year +€2.6m
up €2.6m (+52.4%), from €4.9m to €7.4m
of which Other amounts receivable: +€1.8m
- Cash +€712,674
up €712,674 (+84.1%), from €847,345 to €1.6m
mainly Trade debts (+€2.3m) and Net result for the year (+€1.3m)
- Intangible fixed assets +€296,671
up €296,671 (+108%), from €274,935 to €571,606
- Stocks and contracts -€130,071
down €130,071 (-12.9%), from €1.0m to €875,751
Equity and liabilities
- Trade debts +€2.3m
up €2.3m (+116%), from €2.0m to €4.2m
- Other debts +€1.3m
new in 2025: €1.3m
Income statement
- Turnover +€3.1m
up €3.1m (+16.4%), from €18.7m to €21.8m
- Goods and materials +€2.6m
up €2.6m (+15.3%), from €17.0m to €19.6m
of which Purchases: +€2.3m
- Services and other goods +€755,260
up €755,260 (+34.1%), from €2.2m to €3.0m
- Other operating income -€396,701
down €396,701 (-8.1%), from €4.9m to €4.5m
- Taxes -€231,371
down €231,371 (-34.2%), from €676,971 to €445,600
of which Taxes: -€237,355
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.
Result 2024
€1.9m
Turnover
+€3.1m
Other operating income
-€396,701
Goods and materials
-€2.6m
Services and other goods
-€755,260
Staff costs
-€152,732
Depreciation
-€90,899
Other operating charges
+€605
Other operating items
+€1,507
Financial income
+€86,795
Financial charges
+€16,962
Taxes
+€231,371
Result 2025
€1.3m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.5m
Investment
-€492,379
Financing
-€1.3m
Cash 2024
€847,345
From operations (derived)
+€2.5m
Net result for the year
+€1.3m
Depreciation
+€228,690
Stocks and contracts
+€130,071
Receivables within one year
-€2.6m
Deferred charges and accrued income
-€79,588
Trade debts
+€2.3m
Tax, wage and social debts
-€18,792
Advances received
-€20,975
Other debts
+€1.3m
Accrued charges and deferred income
-€6,633
Investment (derived)
-€492,379
Investment in fixed assets (net)
-€492,379
Financing
-€1.3m
Contributions, distributions and other
-€1.3m
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,551,984 | €11,034,145 | +€3.5m | +46.1% |
| Fixed assets | 21/28 | €780,946 | €1,044,635 | +€263,689 | +33.8% |
| Intangible fixed assets | 21 | €274,935 | €571,606 | +€296,671 | +108% |
| Tangible fixed assets | 22/27 | €506,001 | €410,956 | -€95,045 | -18.8% |
| Plant, machinery and equipment | 23 | €69 | - | -€69 | |
| Furniture and vehicles | 24 | €161,694 | €155,875 | -€5,819 | -3.6% |
| Other tangible fixed assets | 26 | €344,238 | €255,081 | -€89,157 | -25.9% |
| Financial fixed assets | 28 | €10 | €62,073 | +€62,063 | +625,636% |
| Affiliated companies | 280/1 | - | €62,063 | +€62,063 | |
| Participating interests | 280 | - | €62,063 | +€62,063 | |
| Other financial fixed assets | 284/8 | €10 | €10 | +€0 | +0.8% |
| Shares | 284 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €10 | €10 | +€0 | +0.8% |
| Current assets | 29/58 | €6,771,039 | €9,989,510 | +€3.2m | +47.5% |
| Stocks and contracts in progress | 3 | €1,005,822 | €875,751 | -€130,071 | -12.9% |
| Stocks | 30/36 | €1,005,822 | €875,751 | -€130,071 | -12.9% |
| Goods purchased for resale | 34 | €1,005,822 | €875,751 | -€130,071 | -12.9% |
| Amounts receivable within one year | 40/41 | €4,876,553 | €7,432,835 | +€2.6m | +52.4% |
| Trade receivables | 40 | €4,108,842 | €4,908,471 | +€799,629 | +19.5% |
| Other amounts receivable | 41 | €767,712 | €2,524,364 | +€1.8m | +229% |
| Cash at bank and in hand | 54/58 | €847,345 | €1,560,018 | +€712,674 | +84.1% |
| Deferred charges and accrued income | 490/1 | €41,318 | €120,906 | +€79,588 | +193% |
| Total equity and liabilities | 10/49 | €7,551,984 | €11,034,145 | +€3.5m | +46.1% |
| Equity | 10/15 | €4,725,523 | €4,725,523 | +€0 | 0.0% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €4,565,523 | €4,565,523 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €16,000 | €16,000 | = | 0.0% |
| Legal reserve | 130 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €4,549,523 | €4,549,523 | +€0 | 0.0% |
| Amounts payable | 17/49 | €2,826,461 | €6,308,622 | +€3.5m | +123% |
| Amounts payable within one year | 42/48 | €2,819,654 | €6,308,447 | +€3.5m | +124% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,956,648 | €4,223,323 | +€2.3m | +116% |
| Suppliers | 440/4 | €1,956,648 | €4,223,323 | +€2.3m | +116% |
| Advances received on contracts in progress | 46 | €73,262 | €52,287 | -€20,975 | -28.6% |
| Taxes, remuneration and social security | 45 | €789,743 | €770,951 | -€18,792 | -2.4% |
| Taxes | 450/3 | €598,872 | €512,891 | -€85,981 | -14.4% |
| Remuneration and social security | 454/9 | €190,871 | €258,060 | +€67,189 | +35.2% |
| Other amounts payable | 47/48 | - | €1,261,886 | +€1.3m | |
| Accrued charges and deferred income | 492/3 | €6,808 | €175 | -€6,633 | -97.4% |
| Operating income | 70/76A | €23,622,855 | €26,301,700 | +€2.7m | +11.3% |
| Turnover | 70 | €18,718,801 | €21,794,347 | +€3.1m | +16.4% |
| Other operating income | 74 | €4,904,054 | €4,507,353 | -€396,701 | -8.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €21,058,184 | €24,661,744 | +€3.6m | +17.1% |
| Goods for resale, raw materials and consumables | 60 | €17,034,306 | €19,641,087 | +€2.6m | +15.3% |
| Purchases | 600/8 | €17,206,332 | €19,511,015 | +€2.3m | +13.4% |
| Change in stocks: decrease (increase) | 609 | -€172,026 | €130,072 | +€302,098 | |
| Services and other goods | 61 | €2,217,797 | €2,973,057 | +€755,260 | +34.1% |
| Remuneration, social security and pensions | 62 | €1,657,428 | €1,810,160 | +€152,732 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,791 | €228,690 | +€90,899 | +66.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €9,355 | €8,750 | -€605 | -6.5% |
| Non-recurring operating charges | 66A | €1,507 | - | -€1,507 | |
| Operating profit (loss) | 9901 | €2,564,671 | €1,639,956 | -€924,715 | -36.1% |
| Financial income | 75/76B | €5,934 | €92,729 | +€86,795 | +1,463% |
| Recurring financial income | 75 | €5,934 | €92,729 | +€86,795 | +1,463% |
| Income from current assets | 751 | €5,836 | €81,959 | +€76,123 | +1,304% |
| Other financial income | 752/9 | €98 | €10,770 | +€10,672 | +10,874% |
| Financial charges | 65/66B | €42,161 | €25,199 | -€16,962 | -40.2% |
| Recurring financial charges | 65 | €42,061 | €25,199 | -€16,862 | -40.1% |
| Debt charges | 650 | €30,711 | €19,645 | -€11,066 | -36.0% |
| Other financial charges | 652/9 | €11,350 | €5,554 | -€5,796 | -51.1% |
| Non-recurring financial charges | 66B | €100 | - | -€100 | |
| Profit (loss) for the period before taxes | 9903 | €2,528,444 | €1,707,486 | -€820,958 | -32.5% |
| Income taxes | 67/77 | €676,971 | €445,600 | -€231,371 | -34.2% |
| Taxes | 670/3 | €682,955 | €445,600 | -€237,355 | -34.8% |
| Tax adjustments and reversals of tax provisions | 77 | €5,984 | - | -€5,984 | |
| Profit (loss) for the period | 9904 | €1,851,473 | €1,261,886 | -€589,587 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,851,473 | €1,261,886 | -€589,587 | -31.8% |
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.