AM HOLDING: 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 HOLDING
Largest movements
- Receivables within one year +€162,098
up €162,098 (+37.7%), from €430,352 to €592,450
of which Other amounts receivable: +€170,750
- Cash +€41,819
up €41,819 (+180%), from €23,232 to €65,052
mainly Net result for the year (+€182,106) and Depreciation (+€17,095)
- Tangible fixed assets -€17,095
down €17,095 (-88.1%), from €19,414 to €2,318
of which Furniture and vehicles: -€15,388
- Reserves +€162,988
up €162,988 (+21.2%), from €768,222 to €931,210
- Tax, wage and social debts +€10,741
up €10,741 (+31.2%), from €34,426 to €45,168
of which Remuneration and social security: +€16,187
- Other debts +€10,438
up €10,438 (+1,031%), from €1,012 to €11,451
- Gross operating margin +€73,608
up €73,608 (+39.0%), from €188,815 to €262,423
- Staff costs +€57,453
up €57,453 (+892%), from €6,444 to €63,897
- Financial income +€48,917
up €48,917 (+342%), from €14,292 to €63,209
- Taxes +€9,826
up €9,826 (+19.7%), from €49,830 to €59,657
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 | €831,621 | €1,017,897 | +€186,276 | +22.4% |
| Fixed assets | 21/28 | €375,814 | €358,718 | -€17,095 | -4.5% |
| Tangible fixed assets | 22/27 | €19,414 | €2,318 | -€17,095 | -88.1% |
| Plant, machinery and equipment | 23 | €4,025 | €2,318 | -€1,707 | -42.4% |
| Furniture and vehicles | 24 | €15,388 | €0 | -€15,388 | -100% |
| Financial fixed assets | 28 | €356,400 | €356,400 | = | 0.0% |
| Current assets | 29/58 | €455,808 | €659,179 | +€203,371 | +44.6% |
| Amounts receivable within one year | 40/41 | €430,352 | €592,450 | +€162,098 | +37.7% |
| Trade receivables | 40 | €24,200 | €15,548 | -€8,652 | -35.8% |
| Other amounts receivable | 41 | €406,152 | €576,901 | +€170,750 | +42.0% |
| Cash at bank and in hand | 54/58 | €23,232 | €65,052 | +€41,819 | +180% |
| Deferred charges and accrued income | 490/1 | €2,224 | €1,677 | -€547 | -24.6% |
| Total equity and liabilities | 10/49 | €831,621 | €1,017,897 | +€186,276 | +22.4% |
| Equity | 10/15 | €786,822 | €949,810 | +€162,988 | +20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €768,222 | €931,210 | +€162,988 | +21.2% |
| Distributable reserves | 133 | €768,222 | €931,210 | +€162,988 | +21.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,799 | €68,087 | +€23,288 | +52.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €44,799 | €68,087 | +€23,288 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €1,576 | €0 | -€1,576 | -100% |
| Trade debts | 44 | €7,785 | €11,469 | +€3,685 | +47.3% |
| Suppliers | 440/4 | €7,785 | €11,469 | +€3,685 | +47.3% |
| Taxes, remuneration and social security | 45 | €34,426 | €45,168 | +€10,741 | +31.2% |
| Taxes | 450/3 | €29,378 | €23,933 | -€5,445 | -18.5% |
| Remuneration and social security | 454/9 | €5,048 | €21,235 | +€16,187 | +321% |
| Other amounts payable | 47/48 | €1,012 | €11,451 | +€10,438 | +1,031% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €6,444 | €63,897 | +€57,453 | +892% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,436 | €17,095 | -€1,341 | -7.3% |
| Other operating charges | 640/8 | €1,252 | €1,955 | +€703 | +56.1% |
| Gross operating margin | 9900 | €188,815 | €262,423 | +€73,608 | +39.0% |
| Operating profit (loss) | 9901 | €162,683 | €179,475 | +€16,792 | +10.3% |
| Financial income | 75/76B | €14,292 | €63,209 | +€48,917 | +342% |
| Recurring financial income | 75 | €14,292 | €63,209 | +€48,917 | +342% |
| Financial charges | 65/66B | €1,008 | €922 | -€86 | -8.5% |
| Recurring financial charges | 65 | €1,008 | €922 | -€86 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €175,967 | €241,762 | +€65,795 | +37.4% |
| Income taxes | 67/77 | €49,830 | €59,657 | +€9,826 | +19.7% |
| Profit (loss) for the period | 9904 | €126,137 | €182,106 | +€55,969 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €126,137 | €182,106 | +€55,969 | +44.4% |
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 24 October 2026 via checked.be.