AMARE: 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.
AMARE
Largest movements
- Receivables within one year +€80,213
up €80,213 (+247.9%), from €32,361 to €112,574
of which Trade receivables: +€93,189
- Tangible fixed assets -€47,664
down €47,664 (-7.5%), from €633,207 to €585,543
of which Furniture and vehicles: -€26,526
- Cash +€30,543
up €30,543 (+22.3%), from €137,111 to €167,654
mainly Other debts (+€70,968) and Depreciation (+€63,435)
- Stocks and contracts +€15,477
up €15,477 (+12.0%), from €128,929 to €144,406
- Other debts +€70,968
up €70,968 (+98.6%), from €71,985 to €142,953
- Reserves +€35,506
up €35,506 (+14.3%), from €249,132 to €284,638
of which Distributable reserves: +€35,506
- Debts after one year -€21,618
down €21,618 (-4.2%), from €515,288 to €493,670
- Trade debts -€10,894
down €10,894 (-71.9%), from €15,142 to €4,248
- Gross operating margin -€49,214
down €49,214 (-26.1%), from €188,408 to €139,195
- Taxes -€13,613
down €13,613 (-44.1%), from €30,865 to €17,252
- Depreciation -€2,663
down €2,663 (-4.0%), from €66,098 to €63,435
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 | €934,124 | €1,013,793 | +€79,670 | +8.5% |
| Fixed assets | 21/28 | €633,207 | €585,543 | -€47,664 | -7.5% |
| Tangible fixed assets | 22/27 | €633,207 | €585,543 | -€47,664 | -7.5% |
| Land and buildings | 22 | €406,700 | €398,248 | -€8,451 | -2.1% |
| Plant, machinery and equipment | 23 | €112,429 | €99,743 | -€12,686 | -11.3% |
| Furniture and vehicles | 24 | €114,078 | €87,552 | -€26,526 | -23.3% |
| Current assets | 29/58 | €300,917 | €428,251 | +€127,333 | +42.3% |
| Stocks and contracts in progress | 3 | €128,929 | €144,406 | +€15,477 | +12.0% |
| Stocks | 30/36 | €128,929 | €144,406 | +€15,477 | +12.0% |
| Amounts receivable within one year | 40/41 | €32,361 | €112,574 | +€80,213 | +247.9% |
| Trade receivables | 40 | €19,385 | €112,574 | +€93,189 | +480.7% |
| Other amounts receivable | 41 | €12,976 | €0 | -€12,976 | -100.0% |
| Cash at bank and in hand | 54/58 | €137,111 | €167,654 | +€30,543 | +22.3% |
| Deferred charges and accrued income | 490/1 | €2,516 | €3,617 | +€1,101 | +43.8% |
| Total equity and liabilities | 10/49 | €934,124 | €1,013,793 | +€79,670 | +8.5% |
| Equity | 10/15 | €267,732 | €303,238 | +€35,506 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €249,132 | €284,638 | +€35,506 | +14.3% |
| Tax-exempt reserves | 132 | €6,261 | €6,261 | = | 0.0% |
| Distributable reserves | 133 | €242,871 | €278,377 | +€35,506 | +14.6% |
| Amounts payable | 17/49 | €666,392 | €710,555 | +€44,164 | +6.6% |
| Amounts payable after more than one year | 17 | €515,288 | €493,670 | -€21,618 | -4.2% |
| Financial debts | 170/4 | €515,288 | €493,670 | -€21,618 | -4.2% |
| Amounts payable within one year | 42/48 | €137,819 | €206,249 | +€68,430 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €50,037 | €51,618 | +€1,581 | +3.2% |
| Trade debts | 44 | €15,142 | €4,248 | -€10,894 | -71.9% |
| Suppliers | 440/4 | €15,142 | €4,248 | -€10,894 | -71.9% |
| Taxes, remuneration and social security | 45 | €656 | €7,431 | +€6,775 | +1032.9% |
| Taxes | 450/3 | €656 | €7,431 | +€6,775 | +1032.9% |
| Other amounts payable | 47/48 | €71,985 | €142,953 | +€70,968 | +98.6% |
| Accrued charges and deferred income | 492/3 | €13,285 | €10,636 | -€2,649 | -19.9% |
| Non-recurring operating income | 76A | €21,149 | €826 | -€20,323 | -96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,098 | €63,435 | -€2,663 | -4.0% |
| Other operating charges | 640/8 | €1,548 | €1,377 | -€170 | -11.0% |
| Gross operating margin | 9900 | €188,408 | €139,195 | -€49,214 | -26.1% |
| Operating profit (loss) | 9901 | €120,762 | €74,382 | -€46,380 | -38.4% |
| Financial income | 75/76B | €1,348 | €907 | -€441 | -32.7% |
| Recurring financial income | 75 | €1,348 | €907 | -€441 | -32.7% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €24,003 | €22,530 | -€1,473 | -6.1% |
| Recurring financial charges | 65 | €24,003 | €22,530 | -€1,473 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €98,107 | €52,758 | -€45,348 | -46.2% |
| Income taxes | 67/77 | €30,865 | €17,252 | -€13,613 | -44.1% |
| Profit (loss) for the period | 9904 | €67,241 | €35,506 | -€31,736 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,241 | €35,506 | -€31,736 | -47.2% |
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 11 October 2026 via checked.be.