AAM 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.
AAM GROUP
Largest movements
- Tangible fixed assets +€20,456
up €20,456 (+50.8%), from €40,296 to €60,752
of which Furniture and vehicles: +€60,752
- Receivables within one year +€17,637
up €17,637 (+193.3%), from €9,123 to €26,760
- Cash -€2,313
down €2,313 (-81.3%), from €2,845 to €532
mainly Investment in fixed assets (net) (-€24,968) and Receivables within one year (-€17,637)
- Debts after one year +€18,121
up €18,121 (+69.9%), from €25,926 to €44,048
- Trade debts +€10,658
up €10,658 (+3022.3%), from €353 to €11,010
- Reserves +€5,884
up €5,884 (+71.3%), from €8,257 to €14,141
- Tax, wage and social debts +€3,096
up €3,096 (+73.4%), from €4,216 to €7,312
of which Taxes: +€2,314
- Current portion of long-term debt -€2,814
down €2,814 (-21.9%), from €12,832 to €10,019
- Staff costs +€14,908
new in 2025: €14,908
- Depreciation -€10,037
down €10,037 (-69.0%), from €14,549 to €4,512
- Gross operating margin +€6,483
up €6,483 (+21.3%), from €30,404 to €36,888
- Financial charges +€4,439
up €4,439 (+126.7%), from €3,504 to €7,942
- Other operating charges -€1,323
down €1,323 (-50.8%), from €2,606 to €1,283
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 | €61,771 | €97,265 | +€35,494 | +57.5% |
| Fixed assets | 21/28 | €49,296 | €69,752 | +€20,456 | +41.5% |
| Tangible fixed assets | 22/27 | €40,296 | €60,752 | +€20,456 | +50.8% |
| Furniture and vehicles | 24 | - | €60,752 | +€60,752 | |
| Leasing and similar rights | 25 | €40,296 | - | -€40,296 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €12,475 | €27,513 | +€15,039 | +120.6% |
| Amounts receivable within one year | 40/41 | €9,123 | €26,760 | +€17,637 | +193.3% |
| Trade receivables | 40 | €9,123 | €26,760 | +€17,637 | +193.3% |
| Cash at bank and in hand | 54/58 | €2,845 | €532 | -€2,313 | -81.3% |
| Deferred charges and accrued income | 490/1 | €506 | €221 | -€285 | -56.3% |
| Total equity and liabilities | 10/49 | €61,771 | €97,265 | +€35,494 | +57.5% |
| Equity | 10/15 | €10,257 | €16,141 | +€5,884 | +57.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €8,257 | €14,141 | +€5,884 | +71.3% |
| Distributable reserves | 133 | €8,257 | €14,141 | +€5,884 | +71.3% |
| Amounts payable | 17/49 | €51,514 | €81,124 | +€29,610 | +57.5% |
| Amounts payable after more than one year | 17 | €25,926 | €44,048 | +€18,121 | +69.9% |
| Financial debts | 170/4 | €25,926 | €44,048 | +€18,121 | +69.9% |
| Amounts payable within one year | 42/48 | €25,587 | €37,076 | +€11,489 | +44.9% |
| Current portion of amounts payable after more than one year | 42 | €12,832 | €10,019 | -€2,814 | -21.9% |
| Trade debts | 44 | €353 | €11,010 | +€10,658 | +3022.3% |
| Suppliers | 440/4 | €353 | €11,010 | +€10,658 | +3022.3% |
| Taxes, remuneration and social security | 45 | €4,216 | €7,312 | +€3,096 | +73.4% |
| Taxes | 450/3 | €4,216 | €6,530 | +€2,314 | +54.9% |
| Remuneration and social security | 454/9 | - | €782 | +€782 | |
| Other amounts payable | 47/48 | €8,186 | €8,735 | +€548 | +6.7% |
| Remuneration, social security and pensions | 62 | - | €14,908 | +€14,908 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,549 | €4,512 | -€10,037 | -69.0% |
| Other operating charges | 640/8 | €2,606 | €1,283 | -€1,323 | -50.8% |
| Gross operating margin | 9900 | €30,404 | €36,888 | +€6,483 | +21.3% |
| Operating profit (loss) | 9901 | €13,249 | €16,185 | +€2,936 | +22.2% |
| Financial income | 75/76B | €0 | €24 | +€24 | +243600.0% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +243600.0% |
| Financial charges | 65/66B | €3,504 | €7,942 | +€4,439 | +126.7% |
| Recurring financial charges | 65 | €3,504 | €7,942 | +€4,439 | +126.7% |
| Profit (loss) for the period before taxes | 9903 | €9,746 | €8,267 | -€1,479 | -15.2% |
| Income taxes | 67/77 | €1,488 | €2,383 | +€895 | +60.1% |
| Profit (loss) for the period | 9904 | €8,257 | €5,884 | -€2,373 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,257 | €5,884 | -€2,373 | -28.7% |
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 12 October 2026 via checked.be.