AM HVAC: 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 HVAC
Largest movements
- Receivables within one year -€54,751
down €54,751 (-89.8%), from €60,955 to €6,204
of which Trade receivables: -€51,910
- Cash -€19,286
down €19,286 (-51.8%), from €37,245 to €17,959
mainly Net result for the year (-€48,281) and Investment in fixed assets (net) (-€18,107)
- Deferred charges and accrued income +€13,122
new in 2025: €13,122
- Tangible fixed assets +€9,673
up €9,673 (+40.6%), from €23,842 to €33,515
of which Furniture and vehicles: +€12,637
- Reserves -€48,281
down €48,281 (-56.2%), from €85,856 to €37,575
- Tax, wage and social debts -€13,774
down €13,774 (-39.3%), from €35,005 to €21,231
- Trade debts +€10,813
new in 2025: €10,813
- Gross operating margin -€75,598
down €75,598 (-91.1%), from €82,948 to €7,349
- Other operating charges +€44,078
up €44,078 (+1,597%), from €2,759 to €46,837
- Turnover -€43,344
down €43,344 (-26.2%), from €165,635 to €122,291
- Purchases and services +€33,904
up €33,904 (+41.0%), from €82,687 to €116,591
- Taxes -€21,502
down €21,502 (-99.2%), from €21,678 to €176
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 | €122,043 | €70,801 | -€51,242 | -42.0% |
| Fixed assets | 21/28 | €23,842 | €33,515 | +€9,673 | +40.6% |
| Tangible fixed assets | 22/27 | €23,842 | €33,515 | +€9,673 | +40.6% |
| Plant, machinery and equipment | 23 | €12,180 | €9,215 | -€2,965 | -24.3% |
| Furniture and vehicles | 24 | €11,663 | €24,300 | +€12,637 | +108% |
| Current assets | 29/58 | €98,201 | €37,286 | -€60,915 | -62.0% |
| Amounts receivable within one year | 40/41 | €60,955 | €6,204 | -€54,751 | -89.8% |
| Trade receivables | 40 | €55,911 | €4,001 | -€51,910 | -92.8% |
| Other amounts receivable | 41 | €5,045 | €2,203 | -€2,842 | -56.3% |
| Cash at bank and in hand | 54/58 | €37,245 | €17,959 | -€19,286 | -51.8% |
| Deferred charges and accrued income | 490/1 | - | €13,122 | +€13,122 | |
| Total equity and liabilities | 10/49 | €122,043 | €70,801 | -€51,242 | -42.0% |
| Equity | 10/15 | €86,856 | €38,575 | -€48,281 | -55.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €85,856 | €37,575 | -€48,281 | -56.2% |
| Distributable reserves | 133 | €85,856 | €37,575 | -€48,281 | -56.2% |
| Amounts payable | 17/49 | €35,187 | €32,226 | -€2,961 | -8.4% |
| Amounts payable within one year | 42/48 | €35,187 | €32,226 | -€2,961 | -8.4% |
| Trade debts | 44 | - | €10,813 | +€10,813 | |
| Suppliers | 440/4 | - | €10,813 | +€10,813 | |
| Taxes, remuneration and social security | 45 | €35,005 | €21,231 | -€13,774 | -39.3% |
| Taxes | 450/3 | €35,005 | €21,231 | -€13,774 | -39.3% |
| Other amounts payable | 47/48 | €182 | €182 | = | 0.0% |
| Turnover | 70 | €165,635 | €122,291 | -€43,344 | -26.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €82,687 | €116,591 | +€33,904 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,794 | €8,434 | +€2,640 | +45.6% |
| Other operating charges | 640/8 | €2,759 | €46,837 | +€44,078 | +1,597% |
| Gross operating margin | 9900 | €82,948 | €7,349 | -€75,598 | -91.1% |
| Operating profit (loss) | 9901 | €74,395 | -€47,922 | -€122,317 | |
| Financial charges | 65/66B | €74 | €183 | +€108 | +146% |
| Recurring financial charges | 65 | €74 | €183 | +€108 | +146% |
| Profit (loss) for the period before taxes | 9903 | €74,320 | -€48,105 | -€122,425 | |
| Income taxes | 67/77 | €21,678 | €176 | -€21,502 | -99.2% |
| Profit (loss) for the period | 9904 | €52,642 | -€48,281 | -€100,923 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,642 | -€48,281 | -€100,923 |
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 22 October 2026 via checked.be.