A.M.'s: 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.
What changed
A.M.'s
NACE 20.420, Manufacture of chemicals and chemical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€166,946
2024 · -€38,671-€128,275
Equity
€402,402
2024 · €569,348-€166,946
Cash
€140,073
2024 · €201,676-€61,603
Balance sheet total
€1.0m
2024 · €1.2m-€152,523
Largest movements
Assets
- Cash -€61,603
down €61,603 (-30.5%), from €201,676 to €140,073
mainly Net result for the year (-€166,946) and Deferred charges and accrued income (-€7,022)
- Stocks and contracts -€59,015
down €59,015 (-18.3%), from €323,069 to €264,054
- Tangible fixed assets -€31,863
down €31,863 (-6.7%), from €478,248 to €446,385
of which Land and buildings: -€24,790
Equity and liabilities
- Profit (loss) carried forward -€162,382
down €162,382 (-67.2%), from -€241,613 to -€403,995
Income statement
- Staff costs +€101,832
up €101,832 (+45.6%), from €223,275 to €325,107
- Write-downs +€18,256
up €18,256 (+1510.8%), from €1,208 to €19,465
- Gross operating margin -€13,875
down €13,875 (-5.4%), from €259,231 to €245,357
- Depreciation -€6,338
down €6,338 (-16.4%), from €38,753 to €32,415
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.
Result 2024
-€38,671
Gross operating margin
-€13,875
Staff costs
-€101,832
Depreciation
+€6,338
Write-downs
-€18,256
Other operating charges
+€304
Financial income
-€1,470
Financial charges
+€752
Taxes
+€39
Deferred taxes and other
-€275
Result 2025
-€166,946
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.
From operations
-€59,233
Investment
€0
Financing
-€2,371
Cash 2024
€201,676
From operations (derived)
-€59,233
Net result for the year
-€166,946
Depreciation
+€32,415
Stocks and contracts
+€59,015
Receivables within one year
+€6,511
Deferred charges and accrued income
-€7,022
Provisions
-€2,351
Trade debts
+€3,327
Tax, wage and social debts
+€10,533
Other debts
+€5,285
Financing
-€2,371
Debts after one year
-€570
Current portion of long-term debt
-€1,800
Cash 2025
€140,073
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,168,858 | €1,016,335 | -€152,523 | -13.0% |
| Fixed assets | 21/28 | €479,063 | €446,647 | -€32,415 | -6.8% |
| Intangible fixed assets | 21 | €552 | €0 | -€552 | -100.0% |
| Tangible fixed assets | 22/27 | €478,248 | €446,385 | -€31,863 | -6.7% |
| Land and buildings | 22 | €460,633 | €435,843 | -€24,790 | -5.4% |
| Furniture and vehicles | 24 | €17,615 | €10,542 | -€7,074 | -40.2% |
| Financial fixed assets | 28 | €262 | €262 | = | 0.0% |
| Current assets | 29/58 | €689,796 | €569,688 | -€120,108 | -17.4% |
| Stocks and contracts in progress | 3 | €323,069 | €264,054 | -€59,015 | -18.3% |
| Stocks | 30/36 | €323,069 | €264,054 | -€59,015 | -18.3% |
| Amounts receivable within one year | 40/41 | €160,240 | €153,729 | -€6,511 | -4.1% |
| Trade receivables | 40 | €153,941 | €147,827 | -€6,114 | -4.0% |
| Other amounts receivable | 41 | €6,299 | €5,902 | -€397 | -6.3% |
| Cash at bank and in hand | 54/58 | €201,676 | €140,073 | -€61,603 | -30.5% |
| Deferred charges and accrued income | 490/1 | €4,810 | €11,832 | +€7,022 | +146.0% |
| Total equity and liabilities | 10/49 | €1,168,858 | €1,016,335 | -€152,523 | -13.0% |
| Equity | 10/15 | €569,348 | €402,402 | -€166,946 | -29.3% |
| Contributions | 10/11 | €422,502 | €422,502 | = | 0.0% |
| Capital | 10 | €422,502 | €422,502 | = | 0.0% |
| Issued capital | 100 | €423,500 | €423,500 | = | 0.0% |
| Uncalled capital | 101 | €998 | €998 | = | 0.0% |
| Revaluation surpluses | 12 | €136,922 | €129,559 | -€7,363 | -5.4% |
| Reserves | 13 | €251,537 | €254,336 | +€2,799 | +1.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,131 | €68,566 | -€4,564 | -6.2% |
| Distributable reserves | 133 | €172,209 | €179,572 | +€7,363 | +4.3% |
| Profit (loss) carried forward | 14 | -€241,613 | -€403,995 | -€162,382 | -67.2% |
| Provisions and deferred taxes | 16 | €37,671 | €35,320 | -€2,351 | -6.2% |
| Deferred taxes | 168 | €37,671 | €35,320 | -€2,351 | -6.2% |
| Amounts payable | 17/49 | €561,840 | €578,614 | +€16,774 | +3.0% |
| Amounts payable after more than one year | 17 | €253,103 | €252,533 | -€570 | -0.2% |
| Financial debts | 170/4 | €253,103 | €252,533 | -€570 | -0.2% |
| Amounts payable within one year | 42/48 | €308,736 | €326,081 | +€17,345 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €1,800 | €0 | -€1,800 | -100.0% |
| Trade debts | 44 | €202,765 | €206,092 | +€3,327 | +1.6% |
| Suppliers | 440/4 | €202,765 | €206,092 | +€3,327 | +1.6% |
| Taxes, remuneration and social security | 45 | €42,348 | €52,880 | +€10,533 | +24.9% |
| Taxes | 450/3 | €16,311 | €16,341 | +€30 | +0.2% |
| Remuneration and social security | 454/9 | €26,037 | €36,539 | +€10,502 | +40.3% |
| Other amounts payable | 47/48 | €61,823 | €67,108 | +€5,285 | +8.5% |
| Remuneration, social security and pensions | 62 | €223,275 | €325,107 | +€101,832 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,753 | €32,415 | -€6,338 | -16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,208 | €19,465 | +€18,256 | +1510.8% |
| Other operating charges | 640/8 | €20,591 | €20,287 | -€304 | -1.5% |
| Gross operating margin | 9900 | €259,231 | €245,357 | -€13,875 | -5.4% |
| Operating profit (loss) | 9901 | -€24,596 | -€151,917 | -€127,321 | -517.6% |
| Financial income | 75/76B | €1,953 | €483 | -€1,470 | -75.3% |
| Recurring financial income | 75 | €1,953 | €483 | -€1,470 | -75.3% |
| Financial charges | 65/66B | €17,659 | €16,907 | -€752 | -4.3% |
| Recurring financial charges | 65 | €17,659 | €16,907 | -€752 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€40,302 | -€168,341 | -€128,039 | -317.7% |
| Transfer from deferred taxes | 780 | €2,626 | €2,351 | -€275 | -10.5% |
| Income taxes | 67/77 | €996 | €957 | -€39 | -3.9% |
| Profit (loss) for the period | 9904 | -€38,671 | -€166,946 | -€128,275 | -331.7% |
| Transfer from tax-exempt reserves | 789 | €5,099 | €4,564 | -€534 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,573 | -€162,382 | -€128,809 | -383.7% |
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 10 October 2026 via checked.be.