AMARRAGE: 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.
AMARRAGE
Largest movements
- Current investments -€197,473
down €197,473 (-32.7%), from €604,524 to €407,051
- Deferred charges and accrued income +€71,751
up €71,751 (+302%), from €23,761 to €95,512
- Cash +€46,488
up €46,488 (+4.1%), from €1.1m to €1.2m
mainly Debts within one year (+€375,991) and Current investments (+€197,473)
- Receivables within one year +€39,344
up €39,344 (+3.3%), from €1.2m to €1.2m
of which Trade receivables: +€50,068
- Debts within one year +€375,991
up €375,991 (+21.7%), from €1.7m to €2.1m
of which Current portion of long-term debt: +€204,039
- Accrued charges and deferred income -€318,430
down €318,430 (-31.3%), from €1.0m to €700,243
- Profit (loss) carried forward -€112,705
down €112,705, from €55,662 to -€57,044
- Staff costs +€371,289
up €371,289 (+7.5%), from €5.0m to €5.3m
- Gross operating margin +€324,935
up €324,935 (+6.6%), from €4.9m to €5.3m
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 | €3,034,273 | €2,979,128 | -€55,144 | -1.8% |
| Fixed assets | 21/28 | €96,228 | €80,975 | -€15,254 | -15.9% |
| Tangible fixed assets | 22/27 | €88,262 | €69,509 | -€18,754 | -21.2% |
| Plant, machinery and equipment | 23 | €31,803 | €26,133 | -€5,670 | -17.8% |
| Furniture and vehicles | 24 | €5,643 | €2,246 | -€3,397 | -60.2% |
| Other tangible fixed assets | 26 | €50,817 | €41,130 | -€9,687 | -19.1% |
| Financial fixed assets | 28 | €7,966 | €11,466 | +€3,500 | +43.9% |
| Current assets | 29/58 | €2,938,044 | €2,898,154 | -€39,891 | -1.4% |
| Amounts receivable within one year | 40/41 | €1,181,555 | €1,220,899 | +€39,344 | +3.3% |
| Trade receivables | 40 | €937,753 | €987,821 | +€50,068 | +5.3% |
| Other amounts receivable | 41 | €243,802 | €233,078 | -€10,724 | -4.4% |
| Current investments | 50/53 | €604,524 | €407,051 | -€197,473 | -32.7% |
| Cash at bank and in hand | 54/58 | €1,128,205 | €1,174,692 | +€46,488 | +4.1% |
| Deferred charges and accrued income | 490/1 | €23,761 | €95,512 | +€71,751 | +302% |
| Total equity and liabilities | 10/49 | €3,034,273 | €2,979,128 | -€55,144 | -1.8% |
| Equity | 10/15 | €279,764 | €167,059 | -€112,705 | -40.3% |
| Contributions | 10/11 | €224,102 | €224,102 | = | 0.0% |
| Capital | 10 | €224,102 | €224,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,662 | -€57,044 | -€112,705 | |
| Amounts payable | 17/49 | €2,754,509 | €2,812,070 | +€57,561 | +2.1% |
| Amounts payable within one year | 42/48 | €1,735,835 | €2,111,827 | +€375,991 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €886,351 | €1,090,389 | +€204,039 | +23.0% |
| Trade debts | 44 | €15,309 | €39,843 | +€24,534 | +160% |
| Suppliers | 440/4 | €15,309 | €39,843 | +€24,534 | +160% |
| Taxes, remuneration and social security | 45 | €805,251 | €957,886 | +€152,635 | +19.0% |
| Taxes | 450/3 | €56,158 | €153,069 | +€96,911 | +173% |
| Remuneration and social security | 454/9 | €749,093 | €804,817 | +€55,724 | +7.4% |
| Accrued charges and deferred income | 492/3 | €1,018,673 | €700,243 | -€318,430 | -31.3% |
| Non-recurring operating income | 76A | €30,001 | €51 | -€29,950 | -99.8% |
| Remuneration, social security and pensions | 62 | €4,960,114 | €5,331,403 | +€371,289 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,853 | €22,431 | -€3,423 | -13.2% |
| Other operating charges | 640/8 | €5,181 | €7,147 | +€1,965 | +37.9% |
| Non-recurring operating charges | 66A | €2,021 | €165 | -€1,855 | -91.8% |
| Gross operating margin | 9900 | €4,925,336 | €5,250,271 | +€324,935 | +6.6% |
| Operating profit (loss) | 9901 | -€67,833 | -€110,873 | -€43,041 | -63.5% |
| Financial income | 75/76B | €2,893 | €3,610 | +€717 | +24.8% |
| Recurring financial income | 75 | €2,893 | €3,610 | +€717 | +24.8% |
| Financial charges | 65/66B | €2,987 | €2,857 | -€130 | -4.4% |
| Recurring financial charges | 65 | €2,987 | €2,857 | -€130 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€67,926 | -€110,120 | -€42,194 | -62.1% |
| Income taxes | 67/77 | €868 | €2,585 | +€1,717 | +198% |
| Profit (loss) for the period | 9904 | -€68,794 | -€112,705 | -€43,911 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,794 | -€112,705 | -€43,911 | -63.8% |
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 14 October 2026 via checked.be.