A.M. MANAGEMENT: what changed
What changed
A.M. MANAGEMENT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€65,799
2024 · €73,724-€7,925
Equity
€534,033
2024 · €468,026+€66,007
Cash
€199,351
2024 · €145,693+€53,658
Balance sheet total
€737,308
2024 · €726,957+€10,352
Largest movements
Assets
- Cash +€53,658
up €53,658 (+36.8%), from €145,693 to €199,351
mainly Net result for the year (+€65,799) and Depreciation (+€45,037)
- Tangible fixed assets -€34,831
down €34,831 (-9.5%), from €367,582 to €332,752
of which Furniture and vehicles: -€23,670
Equity and liabilities
- Reserves +€66,007
up €66,007 (+14.7%), from €449,426 to €515,433
of which Distributable reserves: +€66,007
- Debts after one year -€41,285
down €41,285 (-21.9%), from €188,702 to €147,417
- Current portion of long-term debt -€9,660
down €9,660 (-19.0%), from €50,945 to €41,285
Income statement
- Gross operating margin -€10,585
down €10,585 (-6.4%), from €165,475 to €154,890
- Taxes -€3,026
down €3,026 (-10.4%), from €29,109 to €26,083
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€73,724
Gross operating margin
-€10,585
Staff costs
-€614
Depreciation
-€874
Other operating charges
-€121
Financial income
+€502
Financial charges
+€742
Taxes
+€3,026
Result 2025
€65,799
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€114,601
Investment
-€10,206
Financing
-€50,737
Cash 2024
€145,693
From operations (derived)
+€114,601
Net result for the year
+€65,799
Depreciation
+€45,037
Receivables after one year
+€6,000
Receivables within one year
+€3,666
Deferred charges and accrued income
-€1,190
Trade debts
-€6,219
Tax, wage and social debts
-€1,841
Other debts
+€3,349
Investment (derived)
-€10,206
Investment in fixed assets (net)
-€10,206
Financing
-€50,737
Debts after one year
-€41,285
Current portion of long-term debt
-€9,660
Contributions, distributions and other
+€208
Cash 2025
€199,351
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €726,957 | €737,308 | +€10,352 | +1.4% |
| Fixed assets | 21/28 | €467,582 | €432,752 | -€34,831 | -7.4% |
| Tangible fixed assets | 22/27 | €367,582 | €332,752 | -€34,831 | -9.5% |
| Land and buildings | 22 | €278,579 | €272,020 | -€6,558 | -2.4% |
| Plant, machinery and equipment | 23 | €5,322 | €3,995 | -€1,327 | -24.9% |
| Furniture and vehicles | 24 | €64,031 | €40,361 | -€23,670 | -37.0% |
| Other tangible fixed assets | 26 | €19,650 | €16,375 | -€3,275 | -16.7% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €259,374 | €304,556 | +€45,182 | +17.4% |
| Amounts receivable after more than one year | 29 | €81,263 | €75,263 | -€6,000 | -7.4% |
| Other amounts receivable | 291 | €81,263 | €75,263 | -€6,000 | -7.4% |
| Amounts receivable within one year | 40/41 | €27,783 | €24,117 | -€3,666 | -13.2% |
| Trade receivables | 40 | €22,040 | €19,158 | -€2,881 | -13.1% |
| Other amounts receivable | 41 | €5,743 | €4,958 | -€785 | -13.7% |
| Cash at bank and in hand | 54/58 | €145,693 | €199,351 | +€53,658 | +36.8% |
| Deferred charges and accrued income | 490/1 | €4,636 | €5,826 | +€1,190 | +25.7% |
| Total equity and liabilities | 10/49 | €726,957 | €737,308 | +€10,352 | +1.4% |
| Equity | 10/15 | €468,026 | €534,033 | +€66,007 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €449,426 | €515,433 | +€66,007 | +14.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €447,566 | €513,573 | +€66,007 | +14.7% |
| Amounts payable | 17/49 | €258,931 | €203,276 | -€55,655 | -21.5% |
| Amounts payable after more than one year | 17 | €188,702 | €147,417 | -€41,285 | -21.9% |
| Financial debts | 170/4 | €188,702 | €147,417 | -€41,285 | -21.9% |
| Amounts payable within one year | 42/48 | €70,229 | €55,859 | -€14,371 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €50,945 | €41,285 | -€9,660 | -19.0% |
| Trade debts | 44 | €6,937 | €718 | -€6,219 | -89.6% |
| Suppliers | 440/4 | €6,937 | €718 | -€6,219 | -89.6% |
| Taxes, remuneration and social security | 45 | €12,347 | €10,507 | -€1,841 | -14.9% |
| Taxes | 450/3 | €10,325 | €7,960 | -€2,364 | -22.9% |
| Remuneration and social security | 454/9 | €2,023 | €2,546 | +€523 | +25.9% |
| Other amounts payable | 47/48 | - | €3,349 | +€3,349 | |
| Remuneration, social security and pensions | 62 | €8,729 | €9,343 | +€614 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,162 | €45,037 | +€874 | +2.0% |
| Other operating charges | 640/8 | €3,514 | €3,635 | +€121 | +3.4% |
| Gross operating margin | 9900 | €165,475 | €154,890 | -€10,585 | -6.4% |
| Operating profit (loss) | 9901 | €109,070 | €96,876 | -€12,194 | -11.2% |
| Financial income | 75/76B | - | €502 | +€502 | |
| Recurring financial income | 75 | - | €502 | +€502 | |
| Financial charges | 65/66B | €6,237 | €5,495 | -€742 | -11.9% |
| Recurring financial charges | 65 | €6,237 | €5,495 | -€742 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €102,833 | €91,882 | -€10,950 | -10.6% |
| Income taxes | 67/77 | €29,109 | €26,083 | -€3,026 | -10.4% |
| Profit (loss) for the period | 9904 | €73,724 | €65,799 | -€7,925 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,724 | €65,799 | -€7,925 | -10.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.