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 +€14,960
up €14,960 (+3.5%), from €430,807 to €445,768
of which Other amounts receivable: +€29,743
- Tangible fixed assets +€10,541
up €10,541 (+1367.5%), from €771 to €11,311
- Reserves +€25,756
up €25,756 (+6.2%), from €415,831 to €441,588
- Short-term financial debts -€6,774
down €6,774 (-80.1%), from €8,455 to €1,681
- Write-downs +€13,040
new in 2025: €13,040
- Taxes -€5,371
down €5,371 (-27.0%), from €19,877 to €14,506
- Depreciation +€3,380
up €3,380 (+655.4%), from €516 to €3,895
- Gross operating margin -€826
down €826 (-2.2%), from €37,910 to €37,083
- Financial charges -€726
down €726 (-52.6%), from €1,378 to €653
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 | €439,462 | €460,769 | +€21,307 | +4.8% |
| Fixed assets | 21/28 | €771 | €11,311 | +€10,541 | +1367.5% |
| Tangible fixed assets | 22/27 | €771 | €11,311 | +€10,541 | +1367.5% |
| Furniture and vehicles | 24 | €771 | €11,311 | +€10,541 | +1367.5% |
| Current assets | 29/58 | €438,691 | €449,458 | +€10,767 | +2.5% |
| Amounts receivable within one year | 40/41 | €430,807 | €445,768 | +€14,960 | +3.5% |
| Trade receivables | 40 | €20,010 | €5,227 | -€14,783 | -73.9% |
| Other amounts receivable | 41 | €410,797 | €440,540 | +€29,743 | +7.2% |
| Cash at bank and in hand | 54/58 | €6,023 | €2,885 | -€3,138 | -52.1% |
| Deferred charges and accrued income | 490/1 | €1,861 | €805 | -€1,056 | -56.7% |
| Total equity and liabilities | 10/49 | €439,462 | €460,769 | +€21,307 | +4.8% |
| Equity | 10/15 | €422,031 | €447,788 | +€25,756 | +6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €415,831 | €441,588 | +€25,756 | +6.2% |
| Distributable reserves | 133 | €415,831 | €441,588 | +€25,756 | +6.2% |
| Amounts payable | 17/49 | €17,431 | €12,982 | -€4,449 | -25.5% |
| Amounts payable within one year | 42/48 | €17,431 | €12,520 | -€4,911 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,164 | +€4,164 | |
| Financial debts | 43 | €8,455 | €1,681 | -€6,774 | -80.1% |
| Credit institutions | 430/8 | €8,455 | €1,681 | -€6,774 | -80.1% |
| Trade debts | 44 | €1,213 | - | -€1,213 | |
| Suppliers | 440/4 | €1,213 | - | -€1,213 | |
| Taxes, remuneration and social security | 45 | €6,930 | €5,841 | -€1,089 | -15.7% |
| Taxes | 450/3 | €6,930 | €5,841 | -€1,089 | -15.7% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €462 | +€462 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €516 | €3,895 | +€3,380 | +655.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,040 | +€13,040 | |
| Other operating charges | 640/8 | €1,267 | €1,123 | -€145 | -11.4% |
| Gross operating margin | 9900 | €37,910 | €37,083 | -€826 | -2.2% |
| Operating profit (loss) | 9901 | €36,127 | €19,025 | -€17,101 | -47.3% |
| Financial income | 75/76B | €22,907 | €22,723 | -€184 | -0.8% |
| Recurring financial income | 75 | €22,907 | €22,723 | -€184 | -0.8% |
| Financial charges | 65/66B | €1,378 | €653 | -€726 | -52.6% |
| Recurring financial charges | 65 | €1,378 | €653 | -€726 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €57,655 | €41,096 | -€16,559 | -28.7% |
| Income taxes | 67/77 | €19,877 | €14,506 | -€5,371 | -27.0% |
| Profit (loss) for the period | 9904 | €37,778 | €26,589 | -€11,188 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,778 | €26,589 | -€11,188 | -29.6% |
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 10 October 2026 via checked.be.