A.M.: what changed
Two fiscal 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.M.
Largest movements
- Tangible fixed assets -€7,799
down €7,799 (-8.0%), from €97,016 to €89,218
- Cash +€7,752
up €7,752 (+152.9%), from €5,069 to €12,821
mainly Depreciation (+€7,799) and Net result for the year (+€4,796)
- Receivables within one year -€4,352
down €4,352 (-23.1%), from €18,833 to €14,481
of which Other amounts receivable: -€6,087
- Debts after one year -€5,317
down €5,317 (-33.5%), from €15,884 to €10,567
- Profit (loss) carried forward +€4,796
up €4,796, from -€2,694 to €2,102
- Trade debts -€2,723
down €2,723 (-96.1%), from €2,833 to €110
- Gross operating margin +€1,213
up €1,213 (+6.2%), from €19,697 to €20,909
- Other operating charges -€494
down €494 (-7.6%), from €6,480 to €5,986
- Taxes +€474
up €474 (+37.3%), from €1,272 to €1,746
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.
Cash bridge derived
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 | €120,918 | €116,520 | -€4,398 | -3.6% |
| Fixed assets | 21/28 | €97,016 | €89,218 | -€7,799 | -8.0% |
| Tangible fixed assets | 22/27 | €97,016 | €89,218 | -€7,799 | -8.0% |
| Land and buildings | 22 | €97,016 | €89,218 | -€7,799 | -8.0% |
| Current assets | 29/58 | €23,902 | €27,302 | +€3,400 | +14.2% |
| Amounts receivable within one year | 40/41 | €18,833 | €14,481 | -€4,352 | -23.1% |
| Trade receivables | 40 | €1,746 | €3,481 | +€1,735 | +99.4% |
| Other amounts receivable | 41 | €17,087 | €11,001 | -€6,087 | -35.6% |
| Cash at bank and in hand | 54/58 | €5,069 | €12,821 | +€7,752 | +152.9% |
| Total equity and liabilities | 10/49 | €120,918 | €116,520 | -€4,398 | -3.6% |
| Equity | 10/15 | €16,020 | €20,815 | +€4,796 | +29.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €121 | €121 | = | 0.0% |
| Distributable reserves | 133 | €121 | €121 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,694 | €2,102 | +€4,796 | |
| Amounts payable | 17/49 | €104,899 | €95,705 | -€9,194 | -8.8% |
| Amounts payable after more than one year | 17 | €15,884 | €10,567 | -€5,317 | -33.5% |
| Financial debts | 170/4 | €15,884 | €10,567 | -€5,317 | -33.5% |
| Amounts payable within one year | 42/48 | €89,015 | €85,138 | -€3,877 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €6,446 | €5,317 | -€1,129 | -17.5% |
| Trade debts | 44 | €2,833 | €110 | -€2,723 | -96.1% |
| Suppliers | 440/4 | €2,833 | €110 | -€2,723 | -96.1% |
| Taxes, remuneration and social security | 45 | €1,771 | €1,746 | -€25 | -1.4% |
| Taxes | 450/3 | €1,771 | €1,746 | -€25 | -1.4% |
| Other amounts payable | 47/48 | €77,965 | €77,965 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,845 | €7,799 | -€46 | -0.6% |
| Other operating charges | 640/8 | €6,480 | €5,986 | -€494 | -7.6% |
| Gross operating margin | 9900 | €19,697 | €20,909 | +€1,213 | +6.2% |
| Operating profit (loss) | 9901 | €5,372 | €7,125 | +€1,753 | +32.6% |
| Financial charges | 65/66B | €706 | €583 | -€123 | -17.4% |
| Recurring financial charges | 65 | €706 | €583 | -€123 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €4,667 | €6,542 | +€1,875 | +40.2% |
| Income taxes | 67/77 | €1,272 | €1,746 | +€474 | +37.3% |
| Profit (loss) for the period | 9904 | €3,395 | €4,796 | +€1,401 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,395 | €4,796 | +€1,401 | +41.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.