AAMR: 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.
AAMR
Largest movements
- Stocks and contracts +€30,150
up €30,150 (+87.3%), from €34,549 to €64,699
- Receivables within one year -€20,024
down €20,024 (-49.4%), from €40,532 to €20,508
of which Trade receivables: -€17,505
- Cash -€18,241
down €18,241 (-73.4%), from €24,854 to €6,613
mainly Trade debts (-€37,999) and Stocks and contracts (-€30,150)
- Tangible fixed assets +€4,121
up €4,121 (+117.9%), from €3,496 to €7,617
- Trade debts -€37,999
down €37,999 (-68.0%), from €55,866 to €17,867
- Tax, wage and social debts +€32,020
up €32,020 (+145.2%), from €22,053 to €54,073
of which Remuneration and social security: +€30,127
- Profit (loss) carried forward +€2,140
up €2,140 (+15.7%), from €13,656 to €15,797
- Purchases and services +€156,216
new in 2025: €156,216
- Gross operating margin -€22,556
down €22,556 (-28.0%), from €80,581 to €58,025
- Staff costs -€17,046
down €17,046 (-26.1%), from €65,238 to €48,192
- Other operating charges -€1,411
down €1,411 (-21.7%), from €6,492 to €5,082
- Depreciation +€1,266
up €1,266 (+459.4%), from €276 to €1,542
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 | €106,231 | €102,237 | -€3,994 | -3.8% |
| Fixed assets | 21/28 | €6,296 | €10,417 | +€4,121 | +65.5% |
| Tangible fixed assets | 22/27 | €3,496 | €7,617 | +€4,121 | +117.9% |
| Furniture and vehicles | 24 | €3,496 | €7,617 | +€4,121 | +117.9% |
| Financial fixed assets | 28 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €99,935 | €91,820 | -€8,116 | -8.1% |
| Stocks and contracts in progress | 3 | €34,549 | €64,699 | +€30,150 | +87.3% |
| Stocks | 30/36 | €34,549 | €64,699 | +€30,150 | +87.3% |
| Amounts receivable within one year | 40/41 | €40,532 | €20,508 | -€20,024 | -49.4% |
| Trade receivables | 40 | €35,667 | €18,162 | -€17,505 | -49.1% |
| Other amounts receivable | 41 | €4,865 | €2,346 | -€2,519 | -51.8% |
| Cash at bank and in hand | 54/58 | €24,854 | €6,613 | -€18,241 | -73.4% |
| Total equity and liabilities | 10/49 | €106,231 | €102,237 | -€3,994 | -3.8% |
| Equity | 10/15 | €28,123 | €30,263 | +€2,140 | +7.6% |
| Contributions | 10/11 | €14,467 | €14,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,656 | €15,797 | +€2,140 | +15.7% |
| Amounts payable | 17/49 | €78,108 | €71,973 | -€6,135 | -7.9% |
| Amounts payable within one year | 42/48 | €78,108 | €71,973 | -€6,135 | -7.9% |
| Trade debts | 44 | €55,866 | €17,867 | -€37,999 | -68.0% |
| Suppliers | 440/4 | €55,866 | €17,867 | -€37,999 | -68.0% |
| Taxes, remuneration and social security | 45 | €22,053 | €54,073 | +€32,020 | +145.2% |
| Taxes | 450/3 | €2,759 | €4,652 | +€1,893 | +68.6% |
| Remuneration and social security | 454/9 | €19,294 | €49,421 | +€30,127 | +156.2% |
| Other amounts payable | 47/48 | €189 | €33 | -€156 | -82.4% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €156,216 | +€156,216 | |
| Remuneration, social security and pensions | 62 | €65,238 | €48,192 | -€17,046 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276 | €1,542 | +€1,266 | +459.4% |
| Other operating charges | 640/8 | €6,492 | €5,082 | -€1,411 | -21.7% |
| Gross operating margin | 9900 | €80,581 | €58,025 | -€22,556 | -28.0% |
| Operating profit (loss) | 9901 | €8,575 | €3,209 | -€5,366 | -62.6% |
| Financial income | 75/76B | €32 | €0 | -€32 | -100.0% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100.0% |
| Financial charges | 65/66B | €90 | €346 | +€256 | +286.5% |
| Recurring financial charges | 65 | €90 | €346 | +€256 | +286.5% |
| Profit (loss) for the period before taxes | 9903 | €8,517 | €2,863 | -€5,654 | -66.4% |
| Income taxes | 67/77 | - | €723 | +€723 | |
| Profit (loss) for the period | 9904 | €8,517 | €2,140 | -€6,377 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,517 | €2,140 | -€6,377 | -74.9% |
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 2 October 2026 via checked.be.