AMAJO: 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.
AMAJO
Largest movements
- Receivables within one year +€89,289
up €89,289 (+46.7%), from €191,125 to €280,414
of which Trade receivables: +€79,529
- Cash -€77,935
down €77,935 (-57.5%), from €135,534 to €57,599
mainly Receivables within one year (-€89,289) and Trade debts (-€15,587)
- Receivables after one year -€20,000
down €20,000 (-100%), from €20,000 to €0
- Current investments +€11,960
up €11,960 (+17.9%), from €66,921 to €78,882
- Deferred charges and accrued income +€6,450
up €6,450 (+252%), from €2,557 to €9,007
- Trade debts -€15,587
down €15,587 (-40.7%), from €38,282 to €22,695
- Reserves +€15,475
new in 2025: €15,475
- Current portion of long-term debt -€5,720
down €5,720 (-100%), from €5,720 to €0
- Profit (loss) carried forward +€5,675
up €5,675, from -€5,675 to €0
- Gross operating margin +€21,749
up €21,749 (+129%), from €16,912 to €38,661
- Taxes +€5,012
up €5,012 (+111%), from €4,497 to €9,510
- Depreciation -€4,253
down €4,253 (-30.3%), from €14,047 to €9,794
- Financial income +€540
up €540 (+14.8%), from €3,650 to €4,189
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 | €443,120 | €447,054 | +€3,934 | +0.9% |
| Fixed assets | 21/28 | €26,982 | €21,152 | -€5,831 | -21.6% |
| Tangible fixed assets | 22/27 | €26,982 | €21,152 | -€5,831 | -21.6% |
| Plant, machinery and equipment | 23 | €2,938 | €2,554 | -€384 | -13.1% |
| Furniture and vehicles | 24 | €20,197 | €13,915 | -€6,282 | -31.1% |
| Other tangible fixed assets | 26 | €3,847 | €4,682 | +€836 | +21.7% |
| Current assets | 29/58 | €416,138 | €425,902 | +€9,764 | +2.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100% |
| Amounts receivable within one year | 40/41 | €191,125 | €280,414 | +€89,289 | +46.7% |
| Trade receivables | 40 | €133,441 | €212,969 | +€79,529 | +59.6% |
| Other amounts receivable | 41 | €57,684 | €67,445 | +€9,760 | +16.9% |
| Current investments | 50/53 | €66,921 | €78,882 | +€11,960 | +17.9% |
| Cash at bank and in hand | 54/58 | €135,534 | €57,599 | -€77,935 | -57.5% |
| Deferred charges and accrued income | 490/1 | €2,557 | €9,007 | +€6,450 | +252% |
| Total equity and liabilities | 10/49 | €443,120 | €447,054 | +€3,934 | +0.9% |
| Equity | 10/15 | €388,128 | €409,278 | +€21,149 | +5.4% |
| Contributions | 10/11 | €393,803 | €393,803 | = | 0.0% |
| Reserves | 13 | - | €15,475 | +€15,475 | |
| Distributable reserves | 133 | - | €15,475 | +€15,475 | |
| Profit (loss) carried forward | 14 | -€5,675 | €0 | +€5,675 | |
| Amounts payable | 17/49 | €54,992 | €37,776 | -€17,216 | -31.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €53,683 | €36,425 | -€17,258 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €5,720 | €0 | -€5,720 | -100% |
| Trade debts | 44 | €38,282 | €22,695 | -€15,587 | -40.7% |
| Suppliers | 440/4 | €38,282 | €22,695 | -€15,587 | -40.7% |
| Taxes, remuneration and social security | 45 | €9,680 | €13,729 | +€4,049 | +41.8% |
| Taxes | 450/3 | €9,680 | €13,729 | +€4,049 | +41.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,309 | €1,351 | +€42 | +3.2% |
| Remuneration, social security and pensions | 62 | €248 | €0 | -€248 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,047 | €9,794 | -€4,253 | -30.3% |
| Other operating charges | 640/8 | €1,399 | €1,548 | +€149 | +10.7% |
| Gross operating margin | 9900 | €16,912 | €38,661 | +€21,749 | +129% |
| Operating profit (loss) | 9901 | €1,218 | €27,319 | +€26,100 | +2,142% |
| Financial income | 75/76B | €3,650 | €4,189 | +€540 | +14.8% |
| Recurring financial income | 75 | €3,650 | €4,189 | +€540 | +14.8% |
| Financial charges | 65/66B | €1,077 | €849 | -€228 | -21.2% |
| Recurring financial charges | 65 | €1,077 | €849 | -€228 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €3,791 | €30,659 | +€26,868 | +709% |
| Income taxes | 67/77 | €4,497 | €9,510 | +€5,012 | +111% |
| Profit (loss) for the period | 9904 | -€707 | €21,149 | +€21,856 | |
| Profit (loss) for the period to be appropriated | 9905 | -€707 | €21,149 | +€21,856 |
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 29 October 2026 via checked.be.