AM CONSULT: 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 CONSULT
Largest movements
- Receivables within one year -€621,266
down €621,266 (-57.3%), from €1.1m to €463,386
of which Trade receivables: -€624,043
- Cash -€487,454
down €487,454 (-41.5%), from €1.2m to €685,736
mainly Trade debts (-€1.2m) and Investment in fixed assets (net) (-€404,039)
- Tangible fixed assets +€391,674
up €391,674 (+277.8%), from €140,993 to €532,667
of which Land and buildings: +€424,887
- Trade debts -€1.2m
down €1.2m (-75.2%), from €1.7m to €410,203
- Other debts +€302,200
new in 2025: €302,200
- Debts after one year +€245,573
up €245,573 (+1781.1%), from €13,788 to €259,362
- Profit (loss) carried forward -€163,710
down €163,710 (-51.8%), from €315,849 to €152,139
- Reserves +€100,000
up €100,000 (+24.6%), from €405,751 to €505,751
- Gross operating margin -€234,133
down €234,133 (-32.9%), from €711,160 to €477,027
- Taxes -€59,370
down €59,370 (-35.5%), from €167,297 to €107,928
- Depreciation -€13,190
down €13,190 (-57.3%), from €23,005 to €9,815
- Other operating charges +€12,533
up €12,533 (+610.7%), from €2,052 to €14,586
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 | €2,420,086 | €1,704,407 | -€715,679 | -29.6% |
| Fixed assets | 21/28 | €160,993 | €555,217 | +€394,224 | +244.9% |
| Tangible fixed assets | 22/27 | €140,993 | €532,667 | +€391,674 | +277.8% |
| Land and buildings | 22 | €54,000 | €478,887 | +€424,887 | +786.8% |
| Plant, machinery and equipment | 23 | €41,055 | €44,489 | +€3,434 | +8.4% |
| Furniture and vehicles | 24 | €8,986 | €9,290 | +€304 | +3.4% |
| Leasing and similar rights | 25 | €36,951 | - | -€36,951 | |
| Financial fixed assets | 28 | €20,000 | €22,550 | +€2,550 | +12.8% |
| Current assets | 29/58 | €2,259,094 | €1,149,190 | -€1.1m | -49.1% |
| Amounts receivable within one year | 40/41 | €1,084,652 | €463,386 | -€621,266 | -57.3% |
| Trade receivables | 40 | €1,069,997 | €445,954 | -€624,043 | -58.3% |
| Other amounts receivable | 41 | €14,655 | €17,432 | +€2,777 | +18.9% |
| Cash at bank and in hand | 54/58 | €1,173,190 | €685,736 | -€487,454 | -41.5% |
| Deferred charges and accrued income | 490/1 | €1,251 | €68 | -€1,183 | -94.6% |
| Total equity and liabilities | 10/49 | €2,420,086 | €1,704,407 | -€715,679 | -29.6% |
| Equity | 10/15 | €726,600 | €662,890 | -€63,710 | -8.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €405,751 | €505,751 | +€100,000 | +24.6% |
| Distributable reserves | 133 | €405,751 | €505,751 | +€100,000 | +24.6% |
| Profit (loss) carried forward | 14 | €315,849 | €152,139 | -€163,710 | -51.8% |
| Amounts payable | 17/49 | €1,693,486 | €1,041,517 | -€651,969 | -38.5% |
| Amounts payable after more than one year | 17 | €13,788 | €259,362 | +€245,573 | +1781.1% |
| Financial debts | 170/4 | €13,788 | €259,362 | +€245,573 | +1781.1% |
| Amounts payable within one year | 42/48 | €1,679,698 | €782,156 | -€897,543 | -53.4% |
| Current portion of amounts payable after more than one year | 42 | €11,220 | €14,691 | +€3,471 | +30.9% |
| Trade debts | 44 | €1,651,082 | €410,203 | -€1.2m | -75.2% |
| Suppliers | 440/4 | €1,651,082 | €410,203 | -€1.2m | -75.2% |
| Taxes, remuneration and social security | 45 | €17,396 | €55,062 | +€37,666 | +216.5% |
| Taxes | 450/3 | €17,396 | €55,062 | +€37,666 | +216.5% |
| Other amounts payable | 47/48 | - | €302,200 | +€302,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,005 | €9,815 | -€13,190 | -57.3% |
| Other operating charges | 640/8 | €2,052 | €14,586 | +€12,533 | +610.7% |
| Non-recurring operating charges | 66A | €1,552 | €2,816 | +€1,263 | +81.4% |
| Gross operating margin | 9900 | €711,160 | €477,027 | -€234,133 | -32.9% |
| Operating profit (loss) | 9901 | €684,550 | €449,810 | -€234,740 | -34.3% |
| Financial income | 75/76B | €201 | €2,078 | +€1,877 | +934.0% |
| Recurring financial income | 75 | €201 | €2,078 | +€1,877 | +934.0% |
| Financial charges | 65/66B | €1,604 | €7,670 | +€6,066 | +378.1% |
| Recurring financial charges | 65 | €1,604 | €7,670 | +€6,066 | +378.1% |
| Profit (loss) for the period before taxes | 9903 | €683,147 | €444,218 | -€238,929 | -35.0% |
| Income taxes | 67/77 | €167,297 | €107,928 | -€59,370 | -35.5% |
| Profit (loss) for the period | 9904 | €515,849 | €336,290 | -€179,559 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €515,849 | €336,290 | -€179,559 | -34.8% |
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.