AMA-D: 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.
AMA-D
Largest movements
- Receivables within one year -€34,200
down €34,200 (-58.6%), from €58,400 to €24,200
- Cash +€7,224
up €7,224 (+326.7%), from €2,211 to €9,435
mainly Net result for the year (+€48,185) and Receivables within one year (+€34,200)
- Debts after one year -€61,689
down €61,689 (-25.1%), from €245,876 to €184,186
- Reserves +€48,185
up €48,185 (+27.9%), from €172,553 to €220,739
- Tax, wage and social debts -€8,967
down €8,967 (-28.1%), from €31,934 to €22,966
- Gross operating margin -€16,553
down €16,553 (-17.8%), from €92,856 to €76,303
- Taxes -€3,761
down €3,761 (-17.9%), from €21,041 to €17,279
- Depreciation -€3,125
down €3,125 (-40.8%), from €7,657 to €4,531
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.
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 | €524,183 | €497,754 | -€26,428 | -5.0% |
| Formation expenses | 20 | €4,509 | €2,563 | -€1,946 | -43.2% |
| Fixed assets | 21/28 | €458,141 | €461,556 | +€3,414 | +0.7% |
| Tangible fixed assets | 22/27 | €2,472 | €5,887 | +€3,414 | +138.1% |
| Plant, machinery and equipment | 23 | €194 | - | -€194 | |
| Furniture and vehicles | 24 | €2,278 | - | -€2,278 | |
| Other tangible fixed assets | 26 | - | €5,887 | +€5,887 | |
| Financial fixed assets | 28 | €455,669 | €455,669 | = | 0.0% |
| Current assets | 29/58 | €61,532 | €33,635 | -€27,897 | -45.3% |
| Amounts receivable within one year | 40/41 | €58,400 | €24,200 | -€34,200 | -58.6% |
| Trade receivables | 40 | €58,400 | €24,200 | -€34,200 | -58.6% |
| Cash at bank and in hand | 54/58 | €2,211 | €9,435 | +€7,224 | +326.7% |
| Deferred charges and accrued income | 490/1 | €921 | - | -€921 | |
| Total equity and liabilities | 10/49 | €524,183 | €497,754 | -€26,428 | -5.0% |
| Equity | 10/15 | €180,053 | €228,239 | +€48,185 | +26.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €172,553 | €220,739 | +€48,185 | +27.9% |
| Distributable reserves | 133 | €172,553 | €220,739 | +€48,185 | +27.9% |
| Amounts payable | 17/49 | €344,129 | €269,516 | -€74,614 | -21.7% |
| Amounts payable after more than one year | 17 | €245,876 | €184,186 | -€61,689 | -25.1% |
| Financial debts | 170/4 | €245,876 | €184,186 | -€61,689 | -25.1% |
| Amounts payable within one year | 42/48 | €98,254 | €85,329 | -€12,925 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €60,467 | €61,689 | +€1,222 | +2.0% |
| Trade debts | 44 | €5,853 | €674 | -€5,179 | -88.5% |
| Suppliers | 440/4 | €5,853 | €674 | -€5,179 | -88.5% |
| Taxes, remuneration and social security | 45 | €31,934 | €22,966 | -€8,967 | -28.1% |
| Taxes | 450/3 | €31,934 | €22,966 | -€8,967 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,657 | €4,531 | -€3,125 | -40.8% |
| Other operating charges | 640/8 | €698 | €400 | -€298 | -42.7% |
| Gross operating margin | 9900 | €92,856 | €76,303 | -€16,553 | -17.8% |
| Operating profit (loss) | 9901 | €84,502 | €71,372 | -€13,130 | -15.5% |
| Financial charges | 65/66B | €5,283 | €5,907 | +€624 | +11.8% |
| Recurring financial charges | 65 | €5,283 | €5,907 | +€624 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €79,219 | €65,465 | -€13,754 | -17.4% |
| Income taxes | 67/77 | €21,041 | €17,279 | -€3,761 | -17.9% |
| Profit (loss) for the period | 9904 | €58,178 | €48,185 | -€9,993 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,178 | €48,185 | -€9,993 | -17.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.