A2 Management Group: 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.
A2 Management Group
Largest movements
- Current investments +€75,000
up €75,000 (+37.5%), from €200,000 to €275,000
- Cash -€70,936
down €70,936 (-76.6%), from €92,586 to €21,650
mainly Current investments (-€75,000) and Net result for the year (-€33,979)
- Receivables within one year +€16,766
up €16,766 (+50.1%), from €33,491 to €50,257
of which Other amounts receivable: +€10,716
- Accrued charges and deferred income +€80,000
new in 2025: €80,000
- Profit (loss) carried forward -€33,979
down €33,979 (-17.5%), from €194,048 to €160,069
- Tax, wage and social debts -€17,597
no longer reported in 2025 (was €17,597)
- Gross operating margin -€49,110
down €49,110, from €27,579 to -€21,531
- Taxes +€13,527
up €13,527, from -€390 to €13,137
- Depreciation -€11,781
no longer reported in 2025 (was €11,781)
- Staff costs -€2,841
no longer reported in 2025 (was €2,841)
- Financial income +€620
up €620 (+14.2%), from €4,375 to €4,995
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 | €493,159 | €513,989 | +€20,830 | +4.2% |
| Fixed assets | 21/28 | €167,082 | €167,082 | = | 0.0% |
| Tangible fixed assets | 22/27 | €167,082 | €167,082 | = | 0.0% |
| Land and buildings | 22 | €164,531 | €164,531 | = | 0.0% |
| Plant, machinery and equipment | 23 | €209 | €209 | = | 0.0% |
| Furniture and vehicles | 24 | €2,342 | €2,342 | = | 0.0% |
| Current assets | 29/58 | €326,077 | €346,907 | +€20,830 | +6.4% |
| Amounts receivable within one year | 40/41 | €33,491 | €50,257 | +€16,766 | +50.1% |
| Trade receivables | 40 | €18,150 | €24,200 | +€6,050 | +33.3% |
| Other amounts receivable | 41 | €15,341 | €26,057 | +€10,716 | +69.9% |
| Current investments | 50/53 | €200,000 | €275,000 | +€75,000 | +37.5% |
| Cash at bank and in hand | 54/58 | €92,586 | €21,650 | -€70,936 | -76.6% |
| Total equity and liabilities | 10/49 | €493,159 | €513,989 | +€20,830 | +4.2% |
| Equity | 10/15 | €302,648 | €268,669 | -€33,979 | -11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,000 | €90,000 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,048 | €160,069 | -€33,979 | -17.5% |
| Amounts payable | 17/49 | €190,511 | €245,320 | +€54,809 | +28.8% |
| Amounts payable after more than one year | 17 | €76,201 | €72,184 | -€4,017 | -5.3% |
| Financial debts | 170/4 | €76,201 | €72,184 | -€4,017 | -5.3% |
| Amounts payable within one year | 42/48 | €114,310 | €93,136 | -€21,174 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €11,613 | €7,854 | -€3,759 | -32.4% |
| Trade debts | 44 | €701 | €236 | -€465 | -66.3% |
| Suppliers | 440/4 | €701 | €236 | -€465 | -66.3% |
| Taxes, remuneration and social security | 45 | €17,597 | - | -€17,597 | |
| Taxes | 450/3 | €17,597 | - | -€17,597 | |
| Other amounts payable | 47/48 | €84,399 | €85,046 | +€647 | +0.8% |
| Accrued charges and deferred income | 492/3 | - | €80,000 | +€80,000 | |
| Remuneration, social security and pensions | 62 | €2,841 | - | -€2,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,781 | - | -€11,781 | |
| Other operating charges | 640/8 | €1,669 | €1,722 | +€53 | +3.2% |
| Non-recurring operating charges | 66A | €1,669 | €1,738 | +€69 | +4.1% |
| Gross operating margin | 9900 | €27,579 | -€21,531 | -€49,110 | |
| Operating profit (loss) | 9901 | €9,619 | -€24,991 | -€34,610 | |
| Financial income | 75/76B | €4,375 | €4,995 | +€620 | +14.2% |
| Recurring financial income | 75 | €4,375 | €4,995 | +€620 | +14.2% |
| Financial charges | 65/66B | €1,380 | €846 | -€534 | -38.7% |
| Recurring financial charges | 65 | €1,380 | €846 | -€534 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €12,614 | -€20,842 | -€33,456 | |
| Income taxes | 67/77 | -€390 | €13,137 | +€13,527 | |
| Profit (loss) for the period | 9904 | €13,004 | -€33,979 | -€46,983 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,004 | -€33,979 | -€46,983 |
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 16 October 2026 via checked.be.