AM CONSTRUCT: 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.
AM CONSTRUCT
Largest movements
- Cash -€56,532
down €56,532 (-43.4%), from €130,350 to €73,817
mainly Contributions, distributions and other (-€150,000) and Trade debts (-€3,824)
- Tangible fixed assets -€6,533
down €6,533 (-43.9%), from €14,886 to €8,353
- Reserves -€73,658
down €73,658 (-39.9%), from €184,699 to €111,041
- Other debts +€12,505
new in 2025: €12,505
- Trade debts -€3,824
down €3,824 (-88.4%), from €4,325 to €502
- Gross operating margin +€9,616
up €9,616 (+10.3%), from €93,573 to €103,189
- Taxes +€1,753
up €1,753 (+9.7%), from €18,099 to €19,852
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 | €199,968 | €135,128 | -€64,840 | -32.4% |
| Fixed assets | 21/28 | €14,886 | €8,353 | -€6,533 | -43.9% |
| Tangible fixed assets | 22/27 | €14,886 | €8,353 | -€6,533 | -43.9% |
| Furniture and vehicles | 24 | €14,886 | €8,353 | -€6,533 | -43.9% |
| Current assets | 29/58 | €185,082 | €126,775 | -€58,307 | -31.5% |
| Amounts receivable within one year | 40/41 | €19,419 | €17,890 | -€1,529 | -7.9% |
| Trade receivables | 40 | €16,308 | €17,437 | +€1,129 | +6.9% |
| Other amounts receivable | 41 | €3,111 | €453 | -€2,658 | -85.4% |
| Current investments | 50/53 | €34,734 | €34,511 | -€223 | -0.6% |
| Cash at bank and in hand | 54/58 | €130,350 | €73,817 | -€56,532 | -43.4% |
| Deferred charges and accrued income | 490/1 | €579 | €557 | -€23 | -3.9% |
| Total equity and liabilities | 10/49 | €199,968 | €135,128 | -€64,840 | -32.4% |
| Equity | 10/15 | €186,699 | €113,041 | -€73,658 | -39.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €184,699 | €111,041 | -€73,658 | -39.9% |
| Distributable reserves | 133 | €184,699 | €111,041 | -€73,658 | -39.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,269 | €22,087 | +€8,818 | +66.5% |
| Amounts payable within one year | 42/48 | €13,269 | €21,595 | +€8,327 | +62.8% |
| Trade debts | 44 | €4,325 | €502 | -€3,824 | -88.4% |
| Suppliers | 440/4 | €4,325 | €502 | -€3,824 | -88.4% |
| Taxes, remuneration and social security | 45 | €8,943 | €8,588 | -€355 | -4.0% |
| Taxes | 450/3 | €8,943 | €8,588 | -€355 | -4.0% |
| Other amounts payable | 47/48 | - | €12,505 | +€12,505 | |
| Accrued charges and deferred income | 492/3 | - | €491 | +€491 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,438 | €6,533 | +€96 | +1.5% |
| Other operating charges | 640/8 | €295 | €703 | +€408 | +138.4% |
| Non-recurring operating charges | 66A | €164 | €0 | -€164 | -100.0% |
| Gross operating margin | 9900 | €93,573 | €103,189 | +€9,616 | +10.3% |
| Operating profit (loss) | 9901 | €86,677 | €95,953 | +€9,276 | +10.7% |
| Financial income | 75/76B | €471 | €1,018 | +€546 | +115.9% |
| Recurring financial income | 75 | €471 | €1,018 | +€546 | +115.9% |
| Financial charges | 65/66B | €270 | €777 | +€506 | +187.5% |
| Recurring financial charges | 65 | €270 | €777 | +€506 | +187.5% |
| Profit (loss) for the period before taxes | 9903 | €86,878 | €96,194 | +€9,316 | +10.7% |
| Income taxes | 67/77 | €18,099 | €19,852 | +€1,753 | +9.7% |
| Profit (loss) for the period | 9904 | €68,779 | €76,342 | +€7,563 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,779 | €76,342 | +€7,563 | +11.0% |
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 3 October 2026 via checked.be.