AB MANAGEMENT: 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.
AB MANAGEMENT
Largest movements
- Cash -€100,951
down €100,951 (-29.7%), from €340,239 to €239,288
mainly Other debts (-€101,058) and Contributions, distributions and other (-€86,718)
- Receivables within one year +€21,288
up €21,288 (+66.5%), from €32,028 to €53,316
of which Trade receivables: +€19,475
- Receivables after one year -€12,000
down €12,000 (-12.9%), from €93,000 to €81,000
- Tangible fixed assets -€5,600
down €5,600 (-13.9%), from €40,206 to €34,606
of which Land and buildings: -€3,650
- Other debts -€101,058
down €101,058 (-56.2%), from €179,921 to €78,864
- Gross operating margin +€44,323
up €44,323 (+24.6%), from €180,200 to €224,523
- Taxes +€20,420
up €20,420 (+79.5%), from €25,678 to €46,098
- Depreciation -€13,523
down €13,523 (-72.2%), from €18,739 to €5,215
- Staff costs +€6,006
up €6,006 (+7.4%), from €80,747 to €86,753
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 | €507,513 | €409,751 | -€97,761 | -19.3% |
| Fixed assets | 21/28 | €40,206 | €34,606 | -€5,600 | -13.9% |
| Tangible fixed assets | 22/27 | €40,206 | €34,606 | -€5,600 | -13.9% |
| Land and buildings | 22 | €32,812 | €29,162 | -€3,650 | -11.1% |
| Plant, machinery and equipment | 23 | €263 | - | -€263 | |
| Furniture and vehicles | 24 | €7,130 | €5,443 | -€1,687 | -23.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €467,307 | €375,146 | -€92,161 | -19.7% |
| Amounts receivable after more than one year | 29 | €93,000 | €81,000 | -€12,000 | -12.9% |
| Other amounts receivable | 291 | €93,000 | €81,000 | -€12,000 | -12.9% |
| Amounts receivable within one year | 40/41 | €32,028 | €53,316 | +€21,288 | +66.5% |
| Trade receivables | 40 | €32,028 | €51,504 | +€19,475 | +60.8% |
| Other amounts receivable | 41 | - | €1,813 | +€1,813 | |
| Cash at bank and in hand | 54/58 | €340,239 | €239,288 | -€100,951 | -29.7% |
| Deferred charges and accrued income | 490/1 | €2,039 | €1,542 | -€498 | -24.4% |
| Total equity and liabilities | 10/49 | €507,513 | €409,751 | -€97,761 | -19.3% |
| Equity | 10/15 | €289,501 | €287,894 | -€1,607 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €277,101 | €275,494 | -€1,607 | -0.6% |
| Non-distributable reserves | 130/1 | €6,812 | €6,812 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,812 | €6,812 | = | 0.0% |
| Distributable reserves | 133 | €270,288 | €268,681 | -€1,607 | -0.6% |
| Amounts payable | 17/49 | €218,012 | €121,858 | -€96,154 | -44.1% |
| Amounts payable within one year | 42/48 | €217,951 | €120,895 | -€97,056 | -44.5% |
| Trade debts | 44 | €7,112 | €9,968 | +€2,856 | +40.2% |
| Suppliers | 440/4 | €7,112 | €9,968 | +€2,856 | +40.2% |
| Taxes, remuneration and social security | 45 | €30,918 | €32,063 | +€1,145 | +3.7% |
| Taxes | 450/3 | €15,751 | €15,722 | -€29 | -0.2% |
| Remuneration and social security | 454/9 | €15,167 | €16,342 | +€1,175 | +7.7% |
| Other amounts payable | 47/48 | €179,921 | €78,864 | -€101,058 | -56.2% |
| Accrued charges and deferred income | 492/3 | €61 | €963 | +€902 | +1,483% |
| Remuneration, social security and pensions | 62 | €80,747 | €86,753 | +€6,006 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,739 | €5,215 | -€13,523 | -72.2% |
| Other operating charges | 640/8 | €2,698 | €2,425 | -€273 | -10.1% |
| Gross operating margin | 9900 | €180,200 | €224,523 | +€44,323 | +24.6% |
| Operating profit (loss) | 9901 | €78,017 | €130,129 | +€52,112 | +66.8% |
| Financial income | 75/76B | €1,253 | €1,485 | +€232 | +18.5% |
| Recurring financial income | 75 | €1,253 | €1,485 | +€232 | +18.5% |
| Financial charges | 65/66B | €464 | €405 | -€60 | -12.9% |
| Recurring financial charges | 65 | €464 | €405 | -€60 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €78,806 | €131,209 | +€52,404 | +66.5% |
| Income taxes | 67/77 | €25,678 | €46,098 | +€20,420 | +79.5% |
| Profit (loss) for the period | 9904 | €53,127 | €85,111 | +€31,983 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €53,127 | €85,111 | +€31,983 | +60.2% |
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 26 October 2026 via checked.be.