A.M.D.V.: 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.M.D.V.
Largest movements
- Cash +€187,548
up €187,548 (+246%), from €76,209 to €263,757
mainly Receivables within one year (+€84,331) and Investment in fixed assets (net) (+€79,762)
- Receivables within one year -€84,331
down €84,331 (-47.2%), from €178,711 to €94,380
of which Trade receivables: -€80,039
- Tangible fixed assets -€79,762
down €79,762 (-100%), from €79,762 to €0
- Debts after one year -€50,000
down €50,000 (-100%), from €50,000 to €0
- Reserves +€37,029
up €37,029 (+18.7%), from €198,085 to €235,114
- Tax, wage and social debts +€29,630
up €29,630 (+344%), from €8,616 to €38,245
of which Taxes: +€29,612
- Other debts +€24,004
up €24,004 (+62.8%), from €38,240 to €62,243
- Current portion of long-term debt -€18,750
down €18,750 (-100%), from €18,750 to €0
- Gross operating margin +€45,712
up €45,712 (+55.1%), from €83,001 to €128,713
- Depreciation -€26,587
down €26,587 (-100%), from €26,587 to €0
- Taxes +€20,055
up €20,055 (+184%), from €10,904 to €30,959
- Other operating charges -€2,635
down €2,635 (-26.1%), from €10,084 to €7,449
- Financial charges +€1,321
up €1,321 (+18.9%), from €7,003 to €8,323
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 | €334,682 | €358,389 | +€23,706 | +7.1% |
| Fixed assets | 21/28 | €79,762 | €0 | -€79,762 | -100% |
| Tangible fixed assets | 22/27 | €79,762 | €0 | -€79,762 | -100% |
| Land and buildings | 22 | €79,762 | €0 | -€79,762 | -100% |
| Current assets | 29/58 | €254,920 | €358,389 | +€103,468 | +40.6% |
| Amounts receivable within one year | 40/41 | €178,711 | €94,380 | -€84,331 | -47.2% |
| Trade receivables | 40 | €174,419 | €94,380 | -€80,039 | -45.9% |
| Other amounts receivable | 41 | €4,292 | €0 | -€4,292 | -100% |
| Cash at bank and in hand | 54/58 | €76,209 | €263,757 | +€187,548 | +246% |
| Deferred charges and accrued income | 490/1 | - | €251 | +€251 | |
| Total equity and liabilities | 10/49 | €334,682 | €358,389 | +€23,706 | +7.1% |
| Equity | 10/15 | €217,085 | €254,114 | +€37,029 | +17.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €198,085 | €235,114 | +€37,029 | +18.7% |
| Distributable reserves | 133 | €198,085 | €235,114 | +€37,029 | +18.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €117,597 | €104,274 | -€13,323 | -11.3% |
| Amounts payable after more than one year | 17 | €50,000 | €0 | -€50,000 | -100% |
| Financial debts | 170/4 | €50,000 | €0 | -€50,000 | -100% |
| Amounts payable within one year | 42/48 | €65,606 | €101,605 | +€35,999 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €18,750 | €0 | -€18,750 | -100% |
| Trade debts | 44 | - | €1,116 | +€1,116 | |
| Suppliers | 440/4 | - | €1,116 | +€1,116 | |
| Taxes, remuneration and social security | 45 | €8,616 | €38,245 | +€29,630 | +344% |
| Taxes | 450/3 | €5,477 | €35,088 | +€29,612 | +541% |
| Remuneration and social security | 454/9 | €3,139 | €3,157 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €38,240 | €62,243 | +€24,004 | +62.8% |
| Accrued charges and deferred income | 492/3 | €1,992 | €2,669 | +€678 | +34.0% |
| Non-recurring operating income | 76A | - | €24,238 | +€24,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,587 | €0 | -€26,587 | -100% |
| Other operating charges | 640/8 | €10,084 | €7,449 | -€2,635 | -26.1% |
| Non-recurring operating charges | 66A | - | €7,439 | +€7,439 | |
| Gross operating margin | 9900 | €83,001 | €128,713 | +€45,712 | +55.1% |
| Operating profit (loss) | 9901 | €46,330 | €113,825 | +€67,495 | +146% |
| Financial income | 75/76B | €655 | €60 | -€595 | -90.8% |
| Recurring financial income | 75 | €655 | €60 | -€595 | -90.8% |
| Financial charges | 65/66B | €7,003 | €8,323 | +€1,321 | +18.9% |
| Recurring financial charges | 65 | €7,003 | €8,323 | +€1,321 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | €39,982 | €105,562 | +€65,579 | +164% |
| Income taxes | 67/77 | €10,904 | €30,959 | +€20,055 | +184% |
| Profit (loss) for the period | 9904 | €29,078 | €74,603 | +€45,525 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €29,078 | €74,603 | +€45,525 | +157% |
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 24 October 2026 via checked.be.