A.M.M.D.: 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.M.D.
Largest movements
- Tangible fixed assets +€391,301
up €391,301 (+19,751%), from €1,981 to €393,283
of which Land and buildings: +€388,310
- Cash -€131,524
down €131,524 (-68.0%), from €193,290 to €61,766
mainly Investment in fixed assets (net) (-€405,918) and Tax, wage and social debts (-€55,721)
- Debts after one year +€260,620
new in 2025: €260,620
- Tax, wage and social debts -€55,721
down €55,721 (-83.8%), from €66,529 to €10,808
- Profit (loss) carried forward +€32,133
up €32,133 (+27.0%), from €118,875 to €151,008
- Current portion of long-term debt +€15,544
new in 2025: €15,544
- Gross operating margin -€81,175
down €81,175 (-51.9%), from €156,500 to €75,324
- Taxes -€31,555
down €31,555 (-93.1%), from €33,896 to €2,342
- Other operating charges +€14,246
up €14,246 (+3,678%), from €387 to €14,633
- Depreciation +€13,751
up €13,751 (+718%), from €1,914 to €15,665
- Financial charges +€9,151
up €9,151 (+1,612%), from €568 to €9,719
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 | €196,320 | €455,049 | +€258,729 | +132% |
| Formation expenses | 20 | €1,048 | €0 | -€1,048 | -100% |
| Fixed assets | 21/28 | €1,981 | €393,283 | +€391,301 | +19,751% |
| Tangible fixed assets | 22/27 | €1,981 | €393,283 | +€391,301 | +19,751% |
| Land and buildings | 22 | - | €388,310 | +€388,310 | |
| Furniture and vehicles | 24 | €1,981 | €4,972 | +€2,991 | +151% |
| Current assets | 29/58 | €193,290 | €61,766 | -€131,524 | -68.0% |
| Cash at bank and in hand | 54/58 | €193,290 | €61,766 | -€131,524 | -68.0% |
| Total equity and liabilities | 10/49 | €196,320 | €455,049 | +€258,729 | +132% |
| Equity | 10/15 | €122,875 | €155,008 | +€32,133 | +26.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,875 | €151,008 | +€32,133 | +27.0% |
| Amounts payable | 17/49 | €73,445 | €300,041 | +€226,596 | +309% |
| Amounts payable after more than one year | 17 | - | €260,620 | +€260,620 | |
| Financial debts | 170/4 | - | €260,620 | +€260,620 | |
| Amounts payable within one year | 42/48 | €73,445 | €39,109 | -€34,336 | -46.8% |
| Current portion of amounts payable after more than one year | 42 | - | €15,544 | +€15,544 | |
| Trade debts | 44 | - | €987 | +€987 | |
| Suppliers | 440/4 | - | €987 | +€987 | |
| Advances received on contracts in progress | 46 | - | €1,997 | +€1,997 | |
| Taxes, remuneration and social security | 45 | €66,529 | €10,808 | -€55,721 | -83.8% |
| Taxes | 450/3 | €66,529 | €10,808 | -€55,721 | -83.8% |
| Other amounts payable | 47/48 | €6,916 | €9,773 | +€2,858 | +41.3% |
| Accrued charges and deferred income | 492/3 | - | €311 | +€311 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,914 | €15,665 | +€13,751 | +718% |
| Other operating charges | 640/8 | €387 | €14,633 | +€14,246 | +3,678% |
| Gross operating margin | 9900 | €156,500 | €75,324 | -€81,175 | -51.9% |
| Operating profit (loss) | 9901 | €154,198 | €45,027 | -€109,171 | -70.8% |
| Financial charges | 65/66B | €568 | €9,719 | +€9,151 | +1,612% |
| Recurring financial charges | 65 | €568 | €9,719 | +€9,151 | +1,612% |
| Profit (loss) for the period before taxes | 9903 | €153,630 | €35,308 | -€118,323 | -77.0% |
| Income taxes | 67/77 | €33,896 | €2,342 | -€31,555 | -93.1% |
| Profit (loss) for the period | 9904 | €119,734 | €32,966 | -€86,768 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €119,734 | €32,966 | -€86,768 | -72.5% |
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 22 October 2026 via checked.be.