AHL 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.
AHL MANAGEMENT
Largest movements
- Receivables within one year -€1,948
down €1,948 (-50.0%), from €3,898 to €1,950
- Tangible fixed assets -€1,683
down €1,683 (-21.9%), from €7,697 to €6,014
- Other debts +€24,341
up €24,341 (+106%), from €22,906 to €47,247
- Profit (loss) carried forward -€14,245
down €14,245 (-30.3%), from €47,016 to €32,771
- Debts after one year -€7,417
down €7,417 (-100%), from €7,417 to €0
- Current portion of long-term debt -€5,109
down €5,109 (-40.8%), from €12,526 to €7,417
- Tax, wage and social debts -€1,984
down €1,984 (-10.1%), from €19,569 to €17,586
of which Taxes: -€2,616
- Gross operating margin +€5,749
up €5,749 (+40.3%), from €14,280 to €20,030
- Depreciation +€1,925
up €1,925 (+142%), from €1,352 to €3,277
- Financial charges +€1,286
up €1,286 (+177%), from €726 to €2,012
- Taxes +€266
up €266 (+8.2%), from €3,235 to €3,501
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 | €113,540 | €110,292 | -€3,249 | -2.9% |
| Fixed assets | 21/28 | €108,841 | €107,158 | -€1,683 | -1.5% |
| Tangible fixed assets | 22/27 | €7,697 | €6,014 | -€1,683 | -21.9% |
| Furniture and vehicles | 24 | €7,697 | €6,014 | -€1,683 | -21.9% |
| Financial fixed assets | 28 | €101,144 | €101,144 | = | 0.0% |
| Current assets | 29/58 | €4,699 | €3,133 | -€1,566 | -33.3% |
| Amounts receivable within one year | 40/41 | €3,898 | €1,950 | -€1,948 | -50.0% |
| Trade receivables | 40 | €3,898 | €1,950 | -€1,948 | -50.0% |
| Cash at bank and in hand | 54/58 | €174 | €684 | +€511 | +294% |
| Deferred charges and accrued income | 490/1 | €627 | €499 | -€128 | -20.5% |
| Total equity and liabilities | 10/49 | €113,540 | €110,292 | -€3,249 | -2.9% |
| Equity | 10/15 | €49,516 | €35,271 | -€14,245 | -28.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,016 | €32,771 | -€14,245 | -30.3% |
| Amounts payable | 17/49 | €64,025 | €75,021 | +€10,996 | +17.2% |
| Amounts payable after more than one year | 17 | €7,417 | €0 | -€7,417 | -100% |
| Financial debts | 170/4 | €7,417 | €0 | -€7,417 | -100% |
| Amounts payable within one year | 42/48 | €56,608 | €73,514 | +€16,906 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €12,526 | €7,417 | -€5,109 | -40.8% |
| Financial debts | 43 | €1,018 | €1,012 | -€6 | -0.6% |
| Credit institutions | 430/8 | €1,018 | €1,012 | -€6 | -0.6% |
| Trade debts | 44 | €588 | €252 | -€336 | -57.2% |
| Suppliers | 440/4 | €588 | €252 | -€336 | -57.2% |
| Taxes, remuneration and social security | 45 | €19,569 | €17,586 | -€1,984 | -10.1% |
| Taxes | 450/3 | €6,308 | €3,692 | -€2,616 | -41.5% |
| Remuneration and social security | 454/9 | €13,261 | €13,894 | +€633 | +4.8% |
| Other amounts payable | 47/48 | €22,906 | €47,247 | +€24,341 | +106% |
| Accrued charges and deferred income | 492/3 | - | €1,507 | +€1,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,352 | €3,277 | +€1,925 | +142% |
| Other operating charges | 640/8 | €473 | €487 | +€15 | +3.1% |
| Gross operating margin | 9900 | €14,280 | €20,030 | +€5,749 | +40.3% |
| Operating profit (loss) | 9901 | €12,456 | €16,266 | +€3,810 | +30.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +900% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +900% |
| Financial charges | 65/66B | €726 | €2,012 | +€1,286 | +177% |
| Recurring financial charges | 65 | €726 | €2,012 | +€1,286 | +177% |
| Profit (loss) for the period before taxes | 9903 | €11,730 | €14,256 | +€2,526 | +21.5% |
| Income taxes | 67/77 | €3,235 | €3,501 | +€266 | +8.2% |
| Profit (loss) for the period | 9904 | €8,495 | €10,755 | +€2,260 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,495 | €10,755 | +€2,260 | +26.6% |
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 15 October 2026 via checked.be.