AM Projects: 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 Projects
Largest movements
- Receivables within one year -€6,591
down €6,591 (-99.7%), from €6,612 to €21
of which Trade receivables: -€5,100
- Debts after one year -€22,814
down €22,814 (-33.1%), from €68,900 to €46,086
- Reserves +€21,178
up €21,178 (+22.4%), from €94,410 to €115,588
- Other debts -€8,943
down €8,943 (-81.4%), from €10,984 to €2,040
- Financial income +€8,079
up €8,079 (+114.4%), from €7,062 to €15,141
- Other operating charges -€3,101
down €3,101 (-34.9%), from €8,888 to €5,787
- Taxes +€667
up €667 (+14.8%), from €4,509 to €5,176
- Gross operating margin +€517
up €517 (+1.3%), from €39,787 to €40,305
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.
Cash bridge derived
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 | €206,310 | €197,871 | -€8,439 | -4.1% |
| Fixed assets | 21/28 | €175,745 | €174,395 | -€1,350 | -0.8% |
| Tangible fixed assets | 22/27 | €33,476 | €32,126 | -€1,350 | -4.0% |
| Plant, machinery and equipment | 23 | €1,222 | €842 | -€380 | -31.1% |
| Furniture and vehicles | 24 | - | €8,242 | +€8,242 | |
| Leasing and similar rights | 25 | €32,254 | €23,042 | -€9,212 | -28.6% |
| Financial fixed assets | 28 | €142,269 | €142,269 | = | 0.0% |
| Current assets | 29/58 | €30,565 | €23,476 | -€7,089 | -23.2% |
| Amounts receivable within one year | 40/41 | €6,612 | €21 | -€6,591 | -99.7% |
| Trade receivables | 40 | €5,100 | - | -€5,100 | |
| Other amounts receivable | 41 | €1,512 | €21 | -€1,491 | -98.6% |
| Cash at bank and in hand | 54/58 | €23,074 | €22,494 | -€580 | -2.5% |
| Deferred charges and accrued income | 490/1 | €879 | €961 | +€82 | +9.3% |
| Total equity and liabilities | 10/49 | €206,310 | €197,871 | -€8,439 | -4.1% |
| Equity | 10/15 | €96,910 | €118,088 | +€21,178 | +21.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €94,410 | €115,588 | +€21,178 | +22.4% |
| Distributable reserves | 133 | €94,410 | €115,588 | +€21,178 | +22.4% |
| Amounts payable | 17/49 | €109,399 | €79,783 | -€29,617 | -27.1% |
| Amounts payable after more than one year | 17 | €68,900 | €46,086 | -€22,814 | -33.1% |
| Financial debts | 170/4 | €68,900 | €46,086 | -€22,814 | -33.1% |
| Amounts payable within one year | 42/48 | €40,500 | €33,696 | -€6,803 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €22,122 | €22,814 | +€691 | +3.1% |
| Trade debts | 44 | €1,661 | €2,264 | +€603 | +36.3% |
| Suppliers | 440/4 | €1,661 | €2,264 | +€603 | +36.3% |
| Taxes, remuneration and social security | 45 | €5,733 | €6,579 | +€846 | +14.8% |
| Taxes | 450/3 | €5,733 | €6,579 | +€846 | +14.8% |
| Other amounts payable | 47/48 | €10,984 | €2,040 | -€8,943 | -81.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,914 | €9,832 | -€82 | -0.8% |
| Other operating charges | 640/8 | €8,888 | €5,787 | -€3,101 | -34.9% |
| Gross operating margin | 9900 | €39,787 | €40,305 | +€517 | +1.3% |
| Operating profit (loss) | 9901 | €20,985 | €24,686 | +€3,701 | +17.6% |
| Financial income | 75/76B | €7,062 | €15,141 | +€8,079 | +114.4% |
| Recurring financial income | 75 | €7,062 | €15,141 | +€8,079 | +114.4% |
| Financial charges | 65/66B | €3,796 | €3,473 | -€323 | -8.5% |
| Recurring financial charges | 65 | €3,796 | €3,473 | -€323 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €24,251 | €36,354 | +€12,103 | +49.9% |
| Income taxes | 67/77 | €4,509 | €5,176 | +€667 | +14.8% |
| Profit (loss) for the period | 9904 | €19,742 | €31,178 | +€11,436 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,742 | €31,178 | +€11,436 | +57.9% |
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 9 October 2026 via checked.be.