AMAE Capital: 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.
AMAE Capital
Largest movements
- Financial fixed assets -€9.4m
down €9.4m (-72.9%), from €12.9m to €3.5m
- Debts after one year -€8.6m
down €8.6m (-87.4%), from €9.8m to €1.2m
- Short-term financial debts -€3.5m
down €3.5m (-100%), from €3.5m to €0
- Profit (loss) carried forward +€3.0m
up €3.0m, from -€795,229 to €2.2m
- Other debts -€364,074
down €364,074 (-99.5%), from €365,745 to €1,671
- Financial income +€8.4m
up €8.4m (+84,116,207,500%), from €0 to €8.4m
- Financial charges +€5.2m
up €5.2m (+1,711%), from €301,457 to €5.5m
of which Non-recurring financial charges: +€5.4m
- Turnover -€415,038
no longer reported in 2025 (was €415,038)
- Purchases and services -€266,686
no longer reported in 2025 (was €266,686)
- Gross operating margin -€30,127
down €30,127 (-19.0%), from €158,531 to €128,404
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 | €12,922,386 | €3,575,054 | -€9.3m | -72.3% |
| Fixed assets | 21/28 | €12,888,328 | €3,491,885 | -€9.4m | -72.9% |
| Tangible fixed assets | 22/27 | €258 | €0 | -€258 | -100% |
| Furniture and vehicles | 24 | €258 | €0 | -€258 | -100% |
| Financial fixed assets | 28 | €12,888,070 | €3,491,885 | -€9.4m | -72.9% |
| Current assets | 29/58 | €34,057 | €83,169 | +€49,112 | +144% |
| Amounts receivable within one year | 40/41 | €0 | €47,579 | +€47,579 | |
| Trade receivables | 40 | €0 | €43,978 | +€43,978 | |
| Other amounts receivable | 41 | €0 | €3,601 | +€3,601 | |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €26,202 | €35,375 | +€9,173 | +35.0% |
| Deferred charges and accrued income | 490/1 | €7,856 | €215 | -€7,641 | -97.3% |
| Total equity and liabilities | 10/49 | €12,922,386 | €3,575,054 | -€9.3m | -72.3% |
| Equity | 10/15 | -€776,629 | €2,231,147 | +€3.0m | |
| 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% |
| Profit (loss) carried forward | 14 | -€795,229 | €2,212,547 | +€3.0m | |
| Amounts payable | 17/49 | €13,699,015 | €1,343,907 | -€12.4m | -90.2% |
| Amounts payable after more than one year | 17 | €9,800,146 | €1,236,046 | -€8.6m | -87.4% |
| Other amounts payable | 178/9 | €9,800,146 | €1,236,046 | -€8.6m | -87.4% |
| Amounts payable within one year | 42/48 | €3,877,617 | €107,862 | -€3.8m | -97.2% |
| Financial debts | 43 | €3,480,000 | €0 | -€3.5m | -100% |
| Credit institutions | 430/8 | €3,480,000 | €0 | -€3.5m | -100% |
| Trade debts | 44 | €1,813 | €72,599 | +€70,785 | +3,903% |
| Suppliers | 440/4 | €1,813 | €72,599 | +€70,785 | +3,903% |
| Taxes, remuneration and social security | 45 | €30,058 | €33,592 | +€3,534 | +11.8% |
| Taxes | 450/3 | €24,452 | €25,799 | +€1,347 | +5.5% |
| Remuneration and social security | 454/9 | €5,606 | €7,793 | +€2,187 | +39.0% |
| Other amounts payable | 47/48 | €365,745 | €1,671 | -€364,074 | -99.5% |
| Accrued charges and deferred income | 492/3 | €21,252 | €0 | -€21,252 | -100% |
| Turnover | 70 | €415,038 | - | -€415,038 | |
| Goods, raw materials, services and sundry goods | 60/61 | €266,686 | - | -€266,686 | |
| Remuneration, social security and pensions | 62 | €64,291 | €70,009 | +€5,718 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258 | €258 | +€0 | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €158,531 | €128,404 | -€30,127 | -19.0% |
| Operating profit (loss) | 9901 | €93,015 | €57,139 | -€35,876 | -38.6% |
| Financial income | 75/76B | €0 | €8,411,621 | +€8.4m | +84,116,207,500% |
| Recurring financial income | 75 | €0 | €8,411,621 | +€8.4m | +84,116,207,500% |
| Financial charges | 65/66B | €301,457 | €5,459,499 | +€5.2m | +1,711% |
| Recurring financial charges | 65 | €301,457 | €60,497 | -€240,960 | -79.9% |
| Non-recurring financial charges | 66B | - | €5,399,002 | +€5.4m | |
| Profit (loss) for the period before taxes | 9903 | -€208,442 | €3,009,260 | +€3.2m | |
| Income taxes | 67/77 | €1,046 | €1,484 | +€438 | +41.9% |
| Profit (loss) for the period | 9904 | -€209,488 | €3,007,776 | +€3.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€209,488 | €3,007,776 | +€3.2m |
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 19 October 2026 via checked.be.