AM Partners: 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 Partners
Largest movements
- Current investments +€100,056
up €100,056 (+100%), from €100,000 to €200,056
- Tangible fixed assets +€93,620
up €93,620 (+42.8%), from €218,835 to €312,455
of which Furniture and vehicles: +€60,503
- Deferred charges and accrued income +€80,000
new in 2025: €80,000
- Receivables within one year +€17,202
up €17,202 (+61.9%), from €27,805 to €45,007
of which Other amounts receivable: +€14,177
- Reserves +€209,460
up €209,460 (+88.4%), from €236,830 to €446,290
of which Tax-exempt reserves: +€109,460
- Profit (loss) carried forward +€61,367
up €61,367 (+104%), from €59,163 to €120,530
- Tax, wage and social debts +€18,926
up €18,926 (+27.1%), from €69,853 to €88,779
- Gross operating margin +€150,346
up €150,346 (+63.8%), from €235,734 to €386,080
- Taxes +€20,397
up €20,397 (+29.2%), from €69,962 to €90,359
- Depreciation +€10,373
up €10,373 (+85.3%), from €12,158 to €22,531
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 | €432,820 | €730,879 | +€298,059 | +68.9% |
| Fixed assets | 21/28 | €218,835 | €312,455 | +€93,620 | +42.8% |
| Tangible fixed assets | 22/27 | €218,835 | €312,455 | +€93,620 | +42.8% |
| Land and buildings | 22 | €218,835 | €251,952 | +€33,117 | +15.1% |
| Furniture and vehicles | 24 | - | €60,503 | +€60,503 | |
| Current assets | 29/58 | €213,985 | €418,424 | +€204,439 | +95.5% |
| Amounts receivable within one year | 40/41 | €27,805 | €45,007 | +€17,202 | +61.9% |
| Trade receivables | 40 | €27,225 | €30,250 | +€3,025 | +11.1% |
| Other amounts receivable | 41 | €580 | €14,757 | +€14,177 | +2,444% |
| Current investments | 50/53 | €100,000 | €200,056 | +€100,056 | +100% |
| Cash at bank and in hand | 54/58 | €86,180 | €93,361 | +€7,181 | +8.3% |
| Deferred charges and accrued income | 490/1 | - | €80,000 | +€80,000 | |
| Total equity and liabilities | 10/49 | €432,820 | €730,879 | +€298,059 | +68.9% |
| Equity | 10/15 | €314,593 | €585,420 | +€270,827 | +86.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,830 | €446,290 | +€209,460 | +88.4% |
| Tax-exempt reserves | 132 | €96,830 | €206,290 | +€109,460 | +113% |
| Distributable reserves | 133 | €140,000 | €240,000 | +€100,000 | +71.4% |
| Profit (loss) carried forward | 14 | €59,163 | €120,530 | +€61,367 | +104% |
| Amounts payable | 17/49 | €118,227 | €145,459 | +€27,232 | +23.0% |
| Amounts payable within one year | 42/48 | €118,227 | €144,389 | +€26,162 | +22.1% |
| Trade debts | 44 | €18,894 | €24,363 | +€5,469 | +28.9% |
| Suppliers | 440/4 | €18,894 | €24,363 | +€5,469 | +28.9% |
| Taxes, remuneration and social security | 45 | €69,853 | €88,779 | +€18,926 | +27.1% |
| Taxes | 450/3 | €69,853 | €88,779 | +€18,926 | +27.1% |
| Other amounts payable | 47/48 | €29,480 | €31,247 | +€1,767 | +6.0% |
| Accrued charges and deferred income | 492/3 | - | €1,070 | +€1,070 | |
| Remuneration, social security and pensions | 62 | - | €3,608 | +€3,608 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,158 | €22,531 | +€10,373 | +85.3% |
| Other operating charges | 640/8 | €830 | €1,773 | +€943 | +114% |
| Non-recurring operating charges | 66A | - | €269 | +€269 | |
| Gross operating margin | 9900 | €235,734 | €386,080 | +€150,346 | +63.8% |
| Operating profit (loss) | 9901 | €222,746 | €357,899 | +€135,153 | +60.7% |
| Financial income | 75/76B | €1,935 | €3,287 | +€1,352 | +69.9% |
| Recurring financial income | 75 | €1,935 | €3,287 | +€1,352 | +69.9% |
| Financial charges | 65/66B | €27 | - | -€27 | |
| Recurring financial charges | 65 | €27 | - | -€27 | |
| Profit (loss) for the period before taxes | 9903 | €224,654 | €361,186 | +€136,532 | +60.8% |
| Income taxes | 67/77 | €69,962 | €90,359 | +€20,397 | +29.2% |
| Profit (loss) for the period | 9904 | €154,692 | €270,827 | +€116,135 | +75.1% |
| Transfer to tax-exempt reserves | 689 | €96,830 | €109,460 | +€12,630 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,862 | €161,367 | +€103,505 | +179% |
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 18 October 2026 via checked.be.