AAM: what changed
Two fiscal 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.
AAM
Largest movements
- Financial fixed assets +€87,500
up €87,500 (+25.3%), from €346,000 to €433,500
- Cash +€32,867
up €32,867 (+386.8%), from €8,497 to €41,364
mainly Net result for the year (+€100,023) and Current portion of long-term debt (+€29,750)
- Profit (loss) carried forward +€100,023
up €100,023, from -€12,449 to €87,574
- Current portion of long-term debt +€29,750
up €29,750 (+81.8%), from €36,377 to €66,127
- Debts after one year -€9,794
down €9,794 (-3.9%), from €250,049 to €240,255
- Financial income +€116,000
new in 2025: €116,000
- Gross operating margin -€1,803
down €1,803 (-448.6%), from -€402 to -€2,205
- Financial charges +€1,601
up €1,601 (+13.6%), from €11,783 to €13,384
- Depreciation +€123
up €123 (+46.6%), from €264 to €387
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,169 | €476,149 | +€119,980 | +33.7% |
| Formation expenses | 20 | €1,672 | €1,285 | -€387 | -23.2% |
| Fixed assets | 21/28 | €346,000 | €433,500 | +€87,500 | +25.3% |
| Financial fixed assets | 28 | €346,000 | €433,500 | +€87,500 | +25.3% |
| Current assets | 29/58 | €8,497 | €41,364 | +€32,867 | +386.8% |
| Cash at bank and in hand | 54/58 | €8,497 | €41,364 | +€32,867 | +386.8% |
| Total equity and liabilities | 10/49 | €356,169 | €476,149 | +€119,980 | +33.7% |
| Equity | 10/15 | -€7,449 | €92,574 | +€100,023 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,449 | €87,574 | +€100,023 | |
| Amounts payable | 17/49 | €363,618 | €383,574 | +€19,956 | +5.5% |
| Amounts payable after more than one year | 17 | €250,049 | €240,255 | -€9,794 | -3.9% |
| Financial debts | 170/4 | €250,049 | €240,255 | -€9,794 | -3.9% |
| Amounts payable within one year | 42/48 | €113,569 | €143,320 | +€29,750 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €36,377 | €66,127 | +€29,750 | +81.8% |
| Other amounts payable | 47/48 | €77,192 | €77,192 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264 | €387 | +€123 | +46.6% |
| Gross operating margin | 9900 | -€402 | -€2,205 | -€1,803 | -448.6% |
| Operating profit (loss) | 9901 | -€666 | -€2,592 | -€1,926 | -289.2% |
| Financial income | 75/76B | - | €116,000 | +€116,000 | |
| Recurring financial income | 75 | - | €116,000 | +€116,000 | |
| Financial charges | 65/66B | €11,783 | €13,384 | +€1,601 | +13.6% |
| Recurring financial charges | 65 | €11,783 | €13,384 | +€1,601 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,449 | €100,023 | +€112,472 | |
| Profit (loss) for the period | 9904 | -€12,449 | €100,023 | +€112,472 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,449 | €100,023 | +€112,472 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.