AMARON: 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.
AMARON
Largest movements
- Current investments +€300,000
up €300,000 (+75.0%), from €400,000 to €700,000
- Intangible fixed assets +€232,025
up €232,025 (+15.8%), from €1.5m to €1.7m
- Cash +€204,021
up €204,021 (+19.6%), from €1.0m to €1.2m
mainly Depreciation (+€1.0m) and Accrued charges and deferred income (+€628,463)
- Receivables within one year +€180,685
up €180,685 (+11.1%), from €1.6m to €1.8m
of which Trade receivables: +€180,049
- Deferred charges and accrued income +€85,693
up €85,693 (+67.3%), from €127,410 to €213,103
- Accrued charges and deferred income +€628,463
up €628,463 (+34.3%), from €1.8m to €2.5m
- Profit (loss) carried forward +€478,495
up €478,495 (+98.3%), from -€486,987 to -€8,492
- Short-term financial debts -€112,030
down €112,030 (-56.7%), from €197,463 to €85,433
- Tax, wage and social debts +€110,031
up €110,031 (+16.9%), from €651,961 to €761,992
of which Remuneration and social security: +€82,288
- Advances received -€75,402
down €75,402 (-99.7%), from €75,601 to €199
- Gross operating margin +€757,192
up €757,192 (+18.4%), from €4.1m to €4.9m
- Depreciation +€227,745
up €227,745 (+29.1%), from €783,000 to €1.0m
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 | €4,804,569 | €5,891,759 | +€1.1m | +22.6% |
| Fixed assets | 21/28 | €1,561,195 | €1,857,109 | +€295,914 | +19.0% |
| Intangible fixed assets | 21 | €1,470,472 | €1,702,497 | +€232,025 | +15.8% |
| Tangible fixed assets | 22/27 | €90,673 | €139,552 | +€48,879 | +53.9% |
| Plant, machinery and equipment | 23 | €2,861 | €4,083 | +€1,222 | +42.7% |
| Furniture and vehicles | 24 | €84,744 | €78,708 | -€6,037 | -7.1% |
| Other tangible fixed assets | 26 | €3,068 | €56,762 | +€53,694 | +1750.2% |
| Financial fixed assets | 28 | €50 | €15,060 | +€15,010 | +30020.0% |
| Current assets | 29/58 | €3,243,374 | €4,034,650 | +€791,275 | +24.4% |
| Stocks and contracts in progress | 3 | €46,176 | €67,053 | +€20,877 | +45.2% |
| Contracts in progress | 37 | €46,176 | €67,053 | +€20,877 | +45.2% |
| Amounts receivable within one year | 40/41 | €1,627,149 | €1,807,835 | +€180,685 | +11.1% |
| Trade receivables | 40 | €1,524,612 | €1,704,661 | +€180,049 | +11.8% |
| Other amounts receivable | 41 | €102,538 | €103,174 | +€636 | +0.6% |
| Current investments | 50/53 | €400,000 | €700,000 | +€300,000 | +75.0% |
| Cash at bank and in hand | 54/58 | €1,042,638 | €1,246,659 | +€204,021 | +19.6% |
| Deferred charges and accrued income | 490/1 | €127,410 | €213,103 | +€85,693 | +67.3% |
| Total equity and liabilities | 10/49 | €4,804,569 | €5,891,759 | +€1.1m | +22.6% |
| Equity | 10/15 | €1,878,065 | €2,356,561 | +€478,495 | +25.5% |
| Contributions | 10/11 | €2,019,144 | €2,019,144 | = | 0.0% |
| Reserves | 13 | €345,908 | €345,908 | = | 0.0% |
| Distributable reserves | 133 | €345,908 | €345,908 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€486,987 | -€8,492 | +€478,495 | +98.3% |
| Amounts payable | 17/49 | €2,926,504 | €3,535,198 | +€608,694 | +20.8% |
| Amounts payable within one year | 42/48 | €1,096,110 | €1,076,341 | -€19,769 | -1.8% |
| Financial debts | 43 | €197,463 | €85,433 | -€112,030 | -56.7% |
| Credit institutions | 430/8 | €197,463 | €85,433 | -€112,030 | -56.7% |
| Trade debts | 44 | €171,085 | €228,717 | +€57,632 | +33.7% |
| Suppliers | 440/4 | €171,085 | €228,717 | +€57,632 | +33.7% |
| Advances received on contracts in progress | 46 | €75,601 | €199 | -€75,402 | -99.7% |
| Taxes, remuneration and social security | 45 | €651,961 | €761,992 | +€110,031 | +16.9% |
| Taxes | 450/3 | €194,554 | €222,297 | +€27,743 | +14.3% |
| Remuneration and social security | 454/9 | €457,407 | €539,695 | +€82,288 | +18.0% |
| Accrued charges and deferred income | 492/3 | €1,830,393 | €2,458,857 | +€628,463 | +34.3% |
| Non-recurring operating income | 76A | €22,415 | €48,448 | +€26,033 | +116.1% |
| Remuneration, social security and pensions | 62 | €3,325,096 | €3,358,779 | +€33,683 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €783,000 | €1,010,744 | +€227,745 | +29.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,338 | €790 | -€6,548 | -89.2% |
| Other operating charges | 640/8 | €14,919 | €11,059 | -€3,860 | -25.9% |
| Non-recurring operating charges | 66A | €748 | €10,683 | +€9,936 | +1328.7% |
| Gross operating margin | 9900 | €4,105,024 | €4,862,216 | +€757,192 | +18.4% |
| Operating profit (loss) | 9901 | -€26,076 | €470,160 | +€496,237 | |
| Financial income | 75/76B | €20,738 | €15,538 | -€5,201 | -25.1% |
| Recurring financial income | 75 | €20,738 | €15,538 | -€5,201 | -25.1% |
| Financial charges | 65/66B | €6,541 | €6,258 | -€283 | -4.3% |
| Recurring financial charges | 65 | €6,541 | €6,258 | -€283 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,879 | €479,440 | +€491,318 | |
| Income taxes | 67/77 | -€29,422 | €944 | +€30,366 | |
| Profit (loss) for the period | 9904 | €17,544 | €478,495 | +€460,952 | +2627.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,544 | €478,495 | +€460,952 | +2627.4% |
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 10 October 2026 via checked.be.