AM EXPRESS: 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 EXPRESS
Largest movements
- Cash -€124,107
down €124,107 (-40.7%), from €305,160 to €181,053
mainly Trade debts (-€202,915) and Contributions, distributions and other (-€110,215)
- Receivables within one year -€42,303
down €42,303 (-19.7%), from €214,353 to €172,050
of which Trade receivables: -€33,841
- Tangible fixed assets +€25,192
up €25,192 (+109%), from €23,130 to €48,323
of which Furniture and vehicles: +€26,292
- Current investments +€14,778
up €14,778 (+150%), from €9,852 to €24,630
- Trade debts -€202,915
down €202,915 (-70.5%), from €287,708 to €84,793
- Other debts +€111,341
up €111,341 (+921%), from €12,089 to €123,431
- Reserves -€85,745
down €85,745 (-40.9%), from €209,786 to €124,041
of which Distributable reserves: -€83,885
- Tax, wage and social debts +€32,575
up €32,575 (+106%), from €30,788 to €63,363
of which Taxes: +€28,137
- Debts after one year +€12,255
new in 2025: €12,255
- Gross operating margin +€102,012
up €102,012 (+34.7%), from €293,867 to €395,879
- Staff costs +€60,587
up €60,587 (+23.1%), from €262,550 to €323,137
- Other operating charges +€8,986
up €8,986 (+47.5%), from €18,903 to €27,889
- Taxes +€7,973
up €7,973 (+1,264%), from €631 to €8,604
- Depreciation +€6,890
up €6,890 (+200%), from €3,437 to €10,327
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 | €558,971 | €435,337 | -€123,634 | -22.1% |
| Fixed assets | 21/28 | €23,130 | €48,323 | +€25,192 | +109% |
| Tangible fixed assets | 22/27 | €23,130 | €48,323 | +€25,192 | +109% |
| Plant, machinery and equipment | 23 | €5,736 | €4,637 | -€1,100 | -19.2% |
| Furniture and vehicles | 24 | €17,394 | €43,686 | +€26,292 | +151% |
| Current assets | 29/58 | €535,840 | €387,015 | -€148,826 | -27.8% |
| Amounts receivable within one year | 40/41 | €214,353 | €172,050 | -€42,303 | -19.7% |
| Trade receivables | 40 | €181,636 | €147,795 | -€33,841 | -18.6% |
| Other amounts receivable | 41 | €32,717 | €24,255 | -€8,462 | -25.9% |
| Current investments | 50/53 | €9,852 | €24,630 | +€14,778 | +150% |
| Cash at bank and in hand | 54/58 | €305,160 | €181,053 | -€124,107 | -40.7% |
| Deferred charges and accrued income | 490/1 | €6,475 | €9,282 | +€2,806 | +43.3% |
| Total equity and liabilities | 10/49 | €558,971 | €435,337 | -€123,634 | -22.1% |
| Equity | 10/15 | €228,386 | €142,641 | -€85,745 | -37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €209,786 | €124,041 | -€85,745 | -40.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €207,926 | €124,041 | -€83,885 | -40.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €330,585 | €292,696 | -€37,889 | -11.5% |
| Amounts payable after more than one year | 17 | - | €12,255 | +€12,255 | |
| Financial debts | 170/4 | - | €12,255 | +€12,255 | |
| Amounts payable within one year | 42/48 | €330,585 | €280,441 | -€50,143 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,855 | +€8,855 | |
| Trade debts | 44 | €287,708 | €84,793 | -€202,915 | -70.5% |
| Suppliers | 440/4 | €287,708 | €84,793 | -€202,915 | -70.5% |
| Taxes, remuneration and social security | 45 | €30,788 | €63,363 | +€32,575 | +106% |
| Taxes | 450/3 | €10,354 | €38,491 | +€28,137 | +272% |
| Remuneration and social security | 454/9 | €20,433 | €24,872 | +€4,438 | +21.7% |
| Other amounts payable | 47/48 | €12,089 | €123,431 | +€111,341 | +921% |
| Remuneration, social security and pensions | 62 | €262,550 | €323,137 | +€60,587 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,437 | €10,327 | +€6,890 | +200% |
| Other operating charges | 640/8 | €18,903 | €27,889 | +€8,986 | +47.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €293,867 | €395,879 | +€102,012 | +34.7% |
| Operating profit (loss) | 9901 | €8,977 | €34,526 | +€25,549 | +285% |
| Financial income | 75/76B | €161 | €726 | +€565 | +350% |
| Recurring financial income | 75 | €161 | €726 | +€565 | +350% |
| Financial charges | 65/66B | €2,518 | €2,178 | -€340 | -13.5% |
| Recurring financial charges | 65 | €2,518 | €2,178 | -€340 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €6,620 | €33,074 | +€26,453 | +400% |
| Income taxes | 67/77 | €631 | €8,604 | +€7,973 | +1,264% |
| Profit (loss) for the period | 9904 | €5,990 | €24,470 | +€18,480 | +309% |
| Profit (loss) for the period to be appropriated | 9905 | €5,990 | €24,470 | +€18,480 | +309% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.