AM MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€103,236
up €103,236 (+34.9%), from €295,680 to €398,916
mainly Net result for the year (+€198,135) and Other debts (+€66,899)
- Tangible fixed assets -€7,727
down €7,727 (-43.9%), from €17,607 to €9,881
- Other debts +€66,899
up €66,899 (+24.9%), from €269,068 to €335,967
- Tax, wage and social debts +€35,513
up €35,513 (+265.5%), from €13,378 to €48,890
- Current portion of long-term debt -€7,766
down €7,766 (-73.4%), from €10,585 to €2,819
- Gross operating margin +€63,995
up €63,995 (+30.7%), from €208,190 to €272,185
- Taxes +€15,812
up €15,812 (+34.0%), from €46,514 to €62,326
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €316,839 | €408,863 | +€92,023 | +29.0% |
| Fixed assets | 21/28 | €17,607 | €9,881 | -€7,727 | -43.9% |
| Tangible fixed assets | 22/27 | €17,607 | €9,881 | -€7,727 | -43.9% |
| Furniture and vehicles | 24 | €17,607 | €9,881 | -€7,727 | -43.9% |
| Current assets | 29/58 | €299,232 | €398,982 | +€99,750 | +33.3% |
| Amounts receivable within one year | 40/41 | €3,552 | €66 | -€3,486 | -98.1% |
| Other amounts receivable | 41 | €3,552 | €66 | -€3,486 | -98.1% |
| Cash at bank and in hand | 54/58 | €295,680 | €398,916 | +€103,236 | +34.9% |
| Total equity and liabilities | 10/49 | €316,839 | €408,863 | +€92,023 | +29.0% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €296,379 | €388,403 | +€92,023 | +31.0% |
| Amounts payable after more than one year | 17 | €3,348 | - | -€3,348 | |
| Financial debts | 170/4 | €3,348 | - | -€3,348 | |
| Amounts payable within one year | 42/48 | €293,031 | €388,403 | +€95,372 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €10,585 | €2,819 | -€7,766 | -73.4% |
| Trade debts | 44 | - | €726 | +€726 | |
| Suppliers | 440/4 | - | €726 | +€726 | |
| Taxes, remuneration and social security | 45 | €13,378 | €48,890 | +€35,513 | +265.5% |
| Taxes | 450/3 | €13,378 | €48,890 | +€35,513 | +265.5% |
| Other amounts payable | 47/48 | €269,068 | €335,967 | +€66,899 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,506 | €9,491 | -€15 | -0.2% |
| Other operating charges | 640/8 | €636 | €1,280 | +€644 | +101.2% |
| Gross operating margin | 9900 | €208,190 | €272,185 | +€63,995 | +30.7% |
| Operating profit (loss) | 9901 | €198,048 | €261,414 | +€63,366 | +32.0% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,303 | €953 | -€350 | -26.8% |
| Recurring financial charges | 65 | €1,303 | €953 | -€350 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €196,750 | €260,461 | +€63,710 | +32.4% |
| Income taxes | 67/77 | €46,514 | €62,326 | +€15,812 | +34.0% |
| Profit (loss) for the period | 9904 | €150,236 | €198,135 | +€47,899 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €150,236 | €198,135 | +€47,899 | +31.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.