AMC: what changed
Two fiscal 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.
AMC
Largest movements
- Receivables within one year -€288,440
down €288,440 (-94.5%), from €305,137 to €16,697
of which Trade receivables: -€286,147
- Tangible fixed assets -€93,619
down €93,619 (-6.0%), from €1.6m to €1.5m
of which Land and buildings: -€84,817
- Cash +€27,530
up €27,530 (+21.5%), from €127,881 to €155,411
mainly Receivables within one year (+€288,440) and Depreciation (+€89,817)
- Trade debts -€247,477
down €247,477 (-98.3%), from €251,723 to €4,245
- Debts after one year -€148,873
down €148,873 (-20.4%), from €729,125 to €580,253
of which Financial debts: -€148,873
- Reserves +€55,518
up €55,518 (+3.5%), from €1.6m to €1.6m
of which Distributable reserves: +€38,678
- Revaluation surpluses -€38,678
down €38,678 (-5.1%), from €763,975 to €725,296
- Gross operating margin -€269,012
down €269,012 (-56.7%), from €474,497 to €205,485
- Staff costs -€93,850
down €93,850, from €93,755 to -€95
- Taxes -€33,508
down €33,508 (-57.0%), from €58,767 to €25,259
- Financial charges -€10,326
down €10,326 (-19.4%), from €53,166 to €42,840
- Financial income -€5,767
down €5,767 (-91.7%), from €6,289 to €522
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 | €1,990,300 | €1,635,171 | -€355,129 | -17.8% |
| Fixed assets | 21/28 | €1,555,843 | €1,462,225 | -€93,619 | -6.0% |
| Tangible fixed assets | 22/27 | €1,555,843 | €1,462,225 | -€93,619 | -6.0% |
| Land and buildings | 22 | €1,537,974 | €1,453,157 | -€84,817 | -5.5% |
| Plant, machinery and equipment | 23 | €9,995 | €5,984 | -€4,012 | -40.1% |
| Furniture and vehicles | 24 | €7,874 | €3,084 | -€4,790 | -60.8% |
| Current assets | 29/58 | €434,456 | €172,947 | -€261,510 | -60.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €305,137 | €16,697 | -€288,440 | -94.5% |
| Trade receivables | 40 | €302,729 | €16,582 | -€286,147 | -94.5% |
| Other amounts receivable | 41 | €2,408 | €115 | -€2,293 | -95.2% |
| Cash at bank and in hand | 54/58 | €127,881 | €155,411 | +€27,530 | +21.5% |
| Deferred charges and accrued income | 490/1 | €1,438 | €838 | -€599 | -41.7% |
| Total equity and liabilities | 10/49 | €1,990,300 | €1,635,171 | -€355,129 | -17.8% |
| Equity | 10/15 | €568,562 | €602,592 | +€34,030 | +6.0% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Revaluation surpluses | 12 | €763,975 | €725,296 | -€38,678 | -5.1% |
| Reserves | 13 | €1,575,343 | €1,630,861 | +€55,518 | +3.5% |
| Non-distributable reserves | 130/1 | €21,200 | €21,200 | = | 0.0% |
| Legal reserve | 130 | €21,200 | €21,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €75,780 | €92,620 | +€16,840 | +22.2% |
| Distributable reserves | 133 | €1,478,363 | €1,517,041 | +€38,678 | +2.6% |
| Profit (loss) carried forward | 14 | -€1,982,755 | -€1,965,566 | +€17,190 | +0.9% |
| Amounts payable | 17/49 | €1,421,738 | €1,032,579 | -€389,158 | -27.4% |
| Amounts payable after more than one year | 17 | €729,125 | €580,253 | -€148,873 | -20.4% |
| Financial debts | 170/4 | €729,125 | €580,253 | -€148,873 | -20.4% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €692,608 | €452,307 | -€240,301 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €143,620 | €148,873 | +€5,253 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €251,723 | €4,245 | -€247,477 | -98.3% |
| Suppliers | 440/4 | €251,723 | €4,245 | -€247,477 | -98.3% |
| Advances received on contracts in progress | 46 | €1,500 | €1,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €23,663 | €28,363 | +€4,700 | +19.9% |
| Taxes | 450/3 | €16,702 | €28,363 | +€11,661 | +69.8% |
| Remuneration and social security | 454/9 | €6,961 | €0 | -€6,961 | -100.0% |
| Other amounts payable | 47/48 | €272,102 | €269,327 | -€2,776 | -1.0% |
| Accrued charges and deferred income | 492/3 | €5 | €20 | +€15 | +330.5% |
| Non-recurring operating income | 76A | €9,437 | €0 | -€9,437 | -100.0% |
| Remuneration, social security and pensions | 62 | €93,755 | -€95 | -€93,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,127 | €89,817 | -€4,310 | -4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €258 | €2,740 | +€2,482 | +963.0% |
| Other operating charges | 640/8 | €10,955 | €10,614 | -€341 | -3.1% |
| Non-recurring operating charges | 66A | €591 | €802 | +€211 | +35.8% |
| Gross operating margin | 9900 | €474,497 | €205,485 | -€269,012 | -56.7% |
| Operating profit (loss) | 9901 | €274,812 | €101,607 | -€173,205 | -63.0% |
| Financial income | 75/76B | €6,289 | €522 | -€5,767 | -91.7% |
| Recurring financial income | 75 | €6,289 | €522 | -€5,767 | -91.7% |
| Financial charges | 65/66B | €53,166 | €42,840 | -€10,326 | -19.4% |
| Recurring financial charges | 65 | €53,166 | €42,840 | -€10,326 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €227,935 | €59,289 | -€168,646 | -74.0% |
| Income taxes | 67/77 | €58,767 | €25,259 | -€33,508 | -57.0% |
| Profit (loss) for the period | 9904 | €169,167 | €34,030 | -€135,138 | -79.9% |
| Transfer to tax-exempt reserves | 689 | €75,780 | €16,840 | -€58,940 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €93,387 | €17,190 | -€76,198 | -81.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.