AM LEX: 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 LEX
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€173,260
down €173,260 (-50.9%), from €340,179 to €166,919
mainly Current investments (-€200,000) and Receivables within one year (-€172,591)
- Receivables within one year +€172,591
up €172,591 (+66.1%), from €260,932 to €433,523
of which Other amounts receivable: +€148,826
- Tangible fixed assets +€12,087
up €12,087 (+259%), from €4,660 to €16,747
- Deferred charges and accrued income +€9,384
up €9,384 (+102%), from €9,165 to €18,549
- Profit (loss) carried forward +€220,651
up €220,651 (+45.9%), from €480,419 to €701,070
- Tax, wage and social debts -€12,082
down €12,082 (-9.0%), from €133,832 to €121,749
- Trade debts +€10,619
up €10,619 (+1,880%), from €565 to €11,184
- Gross operating margin +€24,768
up €24,768 (+9.6%), from €257,995 to €282,763
- Taxes +€7,055
up €7,055 (+11.4%), from €62,054 to €69,109
- Financial income +€3,129
up €3,129 (+42.8%), from €7,310 to €10,439
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 | €614,936 | €835,738 | +€220,801 | +35.9% |
| Fixed assets | 21/28 | €4,660 | €16,747 | +€12,087 | +259% |
| Tangible fixed assets | 22/27 | €4,660 | €16,747 | +€12,087 | +259% |
| Furniture and vehicles | 24 | €4,660 | €16,747 | +€12,087 | +259% |
| Current assets | 29/58 | €610,276 | €818,990 | +€208,714 | +34.2% |
| Amounts receivable within one year | 40/41 | €260,932 | €433,523 | +€172,591 | +66.1% |
| Trade receivables | 40 | - | €23,765 | +€23,765 | |
| Other amounts receivable | 41 | €260,932 | €409,758 | +€148,826 | +57.0% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €340,179 | €166,919 | -€173,260 | -50.9% |
| Deferred charges and accrued income | 490/1 | €9,165 | €18,549 | +€9,384 | +102% |
| Total equity and liabilities | 10/49 | €614,936 | €835,738 | +€220,801 | +35.9% |
| Equity | 10/15 | €480,420 | €701,071 | +€220,651 | +45.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €480,419 | €701,070 | +€220,651 | +45.9% |
| Amounts payable | 17/49 | €134,516 | €134,666 | +€150 | +0.1% |
| Amounts payable within one year | 42/48 | €134,516 | €133,053 | -€1,463 | -1.1% |
| Trade debts | 44 | €565 | €11,184 | +€10,619 | +1,880% |
| Suppliers | 440/4 | €565 | €11,184 | +€10,619 | +1,880% |
| Taxes, remuneration and social security | 45 | €133,832 | €121,749 | -€12,082 | -9.0% |
| Taxes | 450/3 | €133,832 | €121,749 | -€12,082 | -9.0% |
| Other amounts payable | 47/48 | €119 | €119 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,613 | +€1,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €631 | €2,663 | +€2,032 | +322% |
| Other operating charges | 640/8 | €226 | €500 | +€274 | +121% |
| Gross operating margin | 9900 | €257,995 | €282,763 | +€24,768 | +9.6% |
| Operating profit (loss) | 9901 | €257,138 | €279,600 | +€22,462 | +8.7% |
| Financial income | 75/76B | €7,310 | €10,439 | +€3,129 | +42.8% |
| Recurring financial income | 75 | €7,310 | €10,439 | +€3,129 | +42.8% |
| Financial charges | 65/66B | €656 | €279 | -€377 | -57.4% |
| Recurring financial charges | 65 | €656 | €279 | -€377 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €263,792 | €289,760 | +€25,968 | +9.8% |
| Income taxes | 67/77 | €62,054 | €69,109 | +€7,055 | +11.4% |
| Profit (loss) for the period | 9904 | €201,738 | €220,651 | +€18,913 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €201,738 | €220,651 | +€18,913 | +9.4% |
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 28 October 2026 via checked.be.