Am4: 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.
Am4
Largest movements
- Cash -€365,348
down €365,348 (-75.2%), from €485,669 to €120,321
mainly Receivables within one year (-€237,945) and Contributions, distributions and other (-€130,305)
- Receivables within one year +€237,945
up €237,945 (+302%), from €78,674 to €316,619
of which Other amounts receivable: +€271,047
- Other debts -€89,394
down €89,394 (-40.7%), from €219,700 to €130,305
- Trade debts -€31,489
down €31,489 (-87.3%), from €36,081 to €4,592
- Tax, wage and social debts -€8,556
down €8,556 (-34.3%), from €24,937 to €16,381
- Gross operating margin +€91,479
up €91,479 (+99.0%), from €92,434 to €183,913
- Taxes +€23,501
up €23,501 (+135%), from €17,423 to €40,924
- Depreciation -€6,485
down €6,485 (-94.8%), from €6,843 to €358
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 | €569,056 | €440,994 | -€128,062 | -22.5% |
| Fixed assets | 21/28 | €895 | €538 | -€358 | -40.0% |
| Tangible fixed assets | 22/27 | €885 | €528 | -€358 | -40.4% |
| Furniture and vehicles | 24 | €885 | €528 | -€358 | -40.4% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €568,160 | €440,456 | -€127,704 | -22.5% |
| Amounts receivable within one year | 40/41 | €78,674 | €316,619 | +€237,945 | +302% |
| Trade receivables | 40 | €60,242 | €27,140 | -€33,102 | -54.9% |
| Other amounts receivable | 41 | €18,432 | €289,480 | +€271,047 | +1,470% |
| Cash at bank and in hand | 54/58 | €485,669 | €120,321 | -€365,348 | -75.2% |
| Deferred charges and accrued income | 490/1 | €3,817 | €3,516 | -€301 | -7.9% |
| Total equity and liabilities | 10/49 | €569,056 | €440,994 | -€128,062 | -22.5% |
| Equity | 10/15 | €277,883 | €277,883 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €272,883 | €272,883 | = | 0.0% |
| Distributable reserves | 133 | €272,883 | €272,883 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €291,173 | €163,111 | -€128,062 | -44.0% |
| Amounts payable within one year | 42/48 | €280,718 | €151,279 | -€129,439 | -46.1% |
| Trade debts | 44 | €36,081 | €4,592 | -€31,489 | -87.3% |
| Suppliers | 440/4 | €36,081 | €4,592 | -€31,489 | -87.3% |
| Taxes, remuneration and social security | 45 | €24,937 | €16,381 | -€8,556 | -34.3% |
| Taxes | 450/3 | €24,937 | €16,381 | -€8,556 | -34.3% |
| Other amounts payable | 47/48 | €219,700 | €130,305 | -€89,394 | -40.7% |
| Accrued charges and deferred income | 492/3 | €10,455 | €11,832 | +€1,377 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,843 | €358 | -€6,485 | -94.8% |
| Other operating charges | 640/8 | €1,260 | €1,386 | +€126 | +10.0% |
| Gross operating margin | 9900 | €92,434 | €183,913 | +€91,479 | +99.0% |
| Operating profit (loss) | 9901 | €84,331 | €182,169 | +€97,838 | +116% |
| Financial income | 75/76B | €0 | €1,368 | +€1,368 | +6,841,650% |
| Recurring financial income | 75 | €0 | €1,368 | +€1,368 | +6,841,650% |
| Financial charges | 65/66B | €10,615 | €12,307 | +€1,693 | +15.9% |
| Recurring financial charges | 65 | €10,615 | €12,307 | +€1,693 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €73,716 | €171,230 | +€97,514 | +132% |
| Income taxes | 67/77 | €17,423 | €40,924 | +€23,501 | +135% |
| Profit (loss) for the period | 9904 | €56,293 | €130,305 | +€74,012 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €56,293 | €130,305 | +€74,012 | +131% |
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 13 October 2026 via checked.be.