A.M.G.: 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.G.
Largest movements
- Financial fixed assets +€230,000
up €230,000 (+43.4%), from €530,000 to €760,000
- Cash -€149,279
down €149,279 (-80.8%), from €184,825 to €35,546
mainly Investment in fixed assets (net) (-€230,000) and Other debts (-€22,209)
- Receivables within one year -€34,379
down €34,379 (-57.9%), from €59,379 to €25,000
of which Trade receivables: -€34,290
- Reserves +€75,251
up €75,251 (+12.2%), from €616,628 to €691,879
of which Distributable reserves: +€75,251
- Other debts -€22,209
down €22,209 (-28.0%), from €79,315 to €57,105
- Tax, wage and social debts -€9,911
down €9,911 (-10.2%), from €97,194 to €87,282
- Gross operating margin +€19,327
up €19,327 (+17.8%), from €108,653 to €127,980
- Financial income -€9,230
down €9,230 (-100.0%), from €9,230 to €0
- Taxes +€3,817
up €3,817 (+10.0%), from €38,331 to €42,149
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 | €816,500 | €859,527 | +€43,028 | +5.3% |
| Fixed assets | 21/28 | €572,295 | €798,981 | +€226,686 | +39.6% |
| Intangible fixed assets | 21 | €32,400 | €32,400 | = | 0.0% |
| Tangible fixed assets | 22/27 | €9,895 | €6,581 | -€3,314 | -33.5% |
| Furniture and vehicles | 24 | €9,895 | €6,581 | -€3,314 | -33.5% |
| Financial fixed assets | 28 | €530,000 | €760,000 | +€230,000 | +43.4% |
| Current assets | 29/58 | €244,204 | €60,546 | -€183,658 | -75.2% |
| Amounts receivable within one year | 40/41 | €59,379 | €25,000 | -€34,379 | -57.9% |
| Trade receivables | 40 | €59,290 | €25,000 | -€34,290 | -57.8% |
| Other amounts receivable | 41 | €89 | €0 | -€89 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €184,825 | €35,546 | -€149,279 | -80.8% |
| Total equity and liabilities | 10/49 | €816,500 | €859,527 | +€43,028 | +5.3% |
| Equity | 10/15 | €636,628 | €711,879 | +€75,251 | +11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €616,628 | €691,879 | +€75,251 | +12.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €614,628 | €689,879 | +€75,251 | +12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €179,872 | €147,648 | -€32,223 | -17.9% |
| Amounts payable within one year | 42/48 | €179,223 | €147,648 | -€31,575 | -17.6% |
| Trade debts | 44 | €2,715 | €3,261 | +€546 | +20.1% |
| Suppliers | 440/4 | €2,715 | €3,261 | +€546 | +20.1% |
| Taxes, remuneration and social security | 45 | €97,194 | €87,282 | -€9,911 | -10.2% |
| Taxes | 450/3 | €97,194 | €87,282 | -€9,911 | -10.2% |
| Other amounts payable | 47/48 | €79,315 | €57,105 | -€22,209 | -28.0% |
| Accrued charges and deferred income | 492/3 | €648 | €0 | -€648 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,710 | €3,314 | -€396 | -10.7% |
| Other operating charges | 640/8 | €264 | €269 | +€5 | +1.9% |
| Gross operating margin | 9900 | €108,653 | €127,980 | +€19,327 | +17.8% |
| Operating profit (loss) | 9901 | €104,679 | €124,397 | +€19,718 | +18.8% |
| Financial income | 75/76B | €9,230 | €0 | -€9,230 | -100.0% |
| Recurring financial income | 75 | €9,230 | €0 | -€9,230 | -100.0% |
| Financial charges | 65/66B | €6,088 | €6,997 | +€909 | +14.9% |
| Recurring financial charges | 65 | €6,088 | €6,997 | +€909 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €107,821 | €117,400 | +€9,579 | +8.9% |
| Income taxes | 67/77 | €38,331 | €42,149 | +€3,817 | +10.0% |
| Profit (loss) for the period | 9904 | €69,489 | €75,251 | +€5,762 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,489 | €75,251 | +€5,762 | +8.3% |
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 25 October 2026 via checked.be.