AM-BEHEER: 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.
AM-BEHEER
Largest movements
- Receivables within one year -€126,593
down €126,593 (-18.7%), from €676,890 to €550,297
of which Other amounts receivable: -€170,928
- Cash -€34,135
down €34,135 (-80.5%), from €42,414 to €8,279
mainly Other debts (-€232,454) and Debts after one year (-€24,417)
- Tangible fixed assets -€25,034
down €25,034 (-4.6%), from €546,644 to €521,610
of which Land and buildings: -€23,664
- Deferred charges and accrued income -€18,714
down €18,714 (-85.9%), from €21,775 to €3,061
- Other debts -€232,454
down €232,454 (-84.8%), from €273,969 to €41,515
- Reserves +€44,262
up €44,262 (+6.6%), from €674,779 to €719,041
- Debts after one year -€24,417
down €24,417 (-6.7%), from €362,158 to €337,741
- Gross operating margin +€6,877
up €6,877 (+8.9%), from €77,389 to €84,266
- Taxes -€2,582
down €2,582 (-17.1%), from €15,116 to €12,534
- Financial income -€1,638
down €1,638 (-7.9%), from €20,616 to €18,978
- Financial charges -€930
down €930 (-6.0%), from €15,435 to €14,504
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 | €1,385,273 | €1,177,448 | -€207,826 | -15.0% |
| Fixed assets | 21/28 | €644,194 | €615,810 | -€28,384 | -4.4% |
| Intangible fixed assets | 21 | €10,050 | €6,700 | -€3,350 | -33.3% |
| Tangible fixed assets | 22/27 | €546,644 | €521,610 | -€25,034 | -4.6% |
| Land and buildings | 22 | €543,442 | €519,778 | -€23,664 | -4.4% |
| Plant, machinery and equipment | 23 | €2,751 | €1,751 | -€1,000 | -36.4% |
| Furniture and vehicles | 24 | €451 | €81 | -€370 | -82.0% |
| Financial fixed assets | 28 | €87,500 | €87,500 | = | 0.0% |
| Current assets | 29/58 | €741,079 | €561,637 | -€179,442 | -24.2% |
| Amounts receivable within one year | 40/41 | €676,890 | €550,297 | -€126,593 | -18.7% |
| Trade receivables | 40 | €3,998 | €48,333 | +€44,335 | +1,109% |
| Other amounts receivable | 41 | €672,892 | €501,964 | -€170,928 | -25.4% |
| Cash at bank and in hand | 54/58 | €42,414 | €8,279 | -€34,135 | -80.5% |
| Deferred charges and accrued income | 490/1 | €21,775 | €3,061 | -€18,714 | -85.9% |
| Total equity and liabilities | 10/49 | €1,385,273 | €1,177,448 | -€207,826 | -15.0% |
| Equity | 10/15 | €693,379 | €737,641 | +€44,262 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €674,779 | €719,041 | +€44,262 | +6.6% |
| Distributable reserves | 133 | €674,779 | €719,041 | +€44,262 | +6.6% |
| Amounts payable | 17/49 | €691,894 | €439,807 | -€252,087 | -36.4% |
| Amounts payable after more than one year | 17 | €362,158 | €337,741 | -€24,417 | -6.7% |
| Financial debts | 170/4 | €362,158 | €337,741 | -€24,417 | -6.7% |
| Amounts payable within one year | 42/48 | €328,751 | €101,080 | -€227,671 | -69.3% |
| Current portion of amounts payable after more than one year | 42 | €23,579 | €24,417 | +€837 | +3.6% |
| Trade debts | 44 | €3,281 | €1,278 | -€2,003 | -61.0% |
| Suppliers | 440/4 | €3,281 | €1,278 | -€2,003 | -61.0% |
| Taxes, remuneration and social security | 45 | €27,921 | €33,870 | +€5,949 | +21.3% |
| Taxes | 450/3 | €24,186 | €19,217 | -€4,969 | -20.5% |
| Remuneration and social security | 454/9 | €3,735 | €14,653 | +€10,918 | +292% |
| Other amounts payable | 47/48 | €273,969 | €41,515 | -€232,454 | -84.8% |
| Accrued charges and deferred income | 492/3 | €985 | €985 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,024 | €28,384 | +€360 | +1.3% |
| Other operating charges | 640/8 | €2,726 | €3,560 | +€834 | +30.6% |
| Gross operating margin | 9900 | €77,389 | €84,266 | +€6,877 | +8.9% |
| Operating profit (loss) | 9901 | €46,639 | €52,322 | +€5,683 | +12.2% |
| Financial income | 75/76B | €20,616 | €18,978 | -€1,638 | -7.9% |
| Recurring financial income | 75 | €20,616 | €18,978 | -€1,638 | -7.9% |
| Financial charges | 65/66B | €15,435 | €14,504 | -€930 | -6.0% |
| Recurring financial charges | 65 | €15,435 | €14,504 | -€930 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €51,820 | €56,796 | +€4,976 | +9.6% |
| Income taxes | 67/77 | €15,116 | €12,534 | -€2,582 | -17.1% |
| Profit (loss) for the period | 9904 | €36,703 | €44,262 | +€7,558 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,703 | €44,262 | +€7,558 | +20.6% |
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 21 October 2026 via checked.be.