AMCO: 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.
AMCO
Largest movements
- Cash -€262,858
down €262,858 (-70.4%), from €373,518 to €110,660
mainly Investment in fixed assets (net) (-€262,394) and Current investments (-€250,000)
- Current investments +€250,000
new in 2025: €250,000
- Tangible fixed assets +€176,833
up €176,833 (+25.4%), from €695,513 to €872,347
of which Land and buildings: +€183,155
- Receivables within one year -€105,235
down €105,235 (-61.7%), from €170,457 to €65,222
of which Other amounts receivable: -€107,696
- Profit (loss) carried forward +€92,597
no longer reported in 2025 (was -€92,597)
- Other debts -€45,274
down €45,274 (-25.1%), from €180,474 to €135,199
- Debts after one year -€32,950
down €32,950 (-9.3%), from €354,830 to €321,880
- Trade debts +€25,835
up €25,835 (+1050.7%), from €2,459 to €28,294
- Depreciation +€21,716
up €21,716 (+34.0%), from €63,845 to €85,561
- Financial charges +€10,507
up €10,507 (+127.6%), from €8,235 to €18,742
- Gross operating margin +€2,931
up €2,931 (+1.4%), from €210,618 to €213,549
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 | €1,240,045 | €1,305,215 | +€65,169 | +5.3% |
| Fixed assets | 21/28 | €695,513 | €872,347 | +€176,833 | +25.4% |
| Tangible fixed assets | 22/27 | €695,513 | €872,347 | +€176,833 | +25.4% |
| Land and buildings | 22 | €682,949 | €866,104 | +€183,155 | +26.8% |
| Furniture and vehicles | 24 | €12,565 | €6,243 | -€6,322 | -50.3% |
| Current assets | 29/58 | €544,532 | €432,868 | -€111,664 | -20.5% |
| Amounts receivable within one year | 40/41 | €170,457 | €65,222 | -€105,235 | -61.7% |
| Trade receivables | 40 | €33,548 | €36,008 | +€2,461 | +7.3% |
| Other amounts receivable | 41 | €136,909 | €29,214 | -€107,696 | -78.7% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €373,518 | €110,660 | -€262,858 | -70.4% |
| Deferred charges and accrued income | 490/1 | €558 | €6,986 | +€6,429 | +1152.7% |
| Total equity and liabilities | 10/49 | €1,240,045 | €1,305,215 | +€65,169 | +5.3% |
| Equity | 10/15 | €663,695 | €760,938 | +€97,243 | +14.7% |
| Contributions | 10/11 | €727,568 | €727,568 | = | 0.0% |
| Capital | 10 | €727,568 | €727,568 | = | 0.0% |
| Issued capital | 100 | €727,568 | €727,568 | = | 0.0% |
| Reserves | 13 | €28,724 | €33,371 | +€4,647 | +16.2% |
| Non-distributable reserves | 130/1 | €7,025 | €7,257 | +€232 | +3.3% |
| Legal reserve | 130 | €7,025 | €7,257 | +€232 | +3.3% |
| Distributable reserves | 133 | €21,700 | €26,114 | +€4,414 | +20.3% |
| Profit (loss) carried forward | 14 | -€92,597 | - | +€92,597 | |
| Amounts payable | 17/49 | €576,350 | €544,276 | -€32,074 | -5.6% |
| Amounts payable after more than one year | 17 | €354,830 | €321,880 | -€32,950 | -9.3% |
| Financial debts | 170/4 | €354,830 | €321,880 | -€32,950 | -9.3% |
| Amounts payable within one year | 42/48 | €220,060 | €210,768 | -€9,292 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €35,696 | €35,696 | = | 0.0% |
| Trade debts | 44 | €2,459 | €28,294 | +€25,835 | +1050.7% |
| Suppliers | 440/4 | €2,459 | €28,294 | +€25,835 | +1050.7% |
| Taxes, remuneration and social security | 45 | €1,432 | €11,580 | +€10,148 | +708.8% |
| Taxes | 450/3 | €1,432 | €11,580 | +€10,148 | +708.8% |
| Other amounts payable | 47/48 | €180,474 | €135,199 | -€45,274 | -25.1% |
| Accrued charges and deferred income | 492/3 | €1,461 | €11,629 | +€10,168 | +696.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,845 | €85,561 | +€21,716 | +34.0% |
| Other operating charges | 640/8 | €11,107 | €11,075 | -€32 | -0.3% |
| Non-recurring operating charges | 66A | €220,913 | €808 | -€220,104 | -99.6% |
| Gross operating margin | 9900 | €210,618 | €213,549 | +€2,931 | +1.4% |
| Operating profit (loss) | 9901 | -€85,247 | €116,104 | +€201,352 | |
| Financial income | 75/76B | €1,299 | €529 | -€770 | -59.3% |
| Recurring financial income | 75 | €1,299 | €529 | -€770 | -59.3% |
| Financial charges | 65/66B | €8,235 | €18,742 | +€10,507 | +127.6% |
| Recurring financial charges | 65 | €8,235 | €18,742 | +€10,507 | +127.6% |
| Profit (loss) for the period before taxes | 9903 | -€92,183 | €97,892 | +€190,075 | |
| Income taxes | 67/77 | €413 | €649 | +€235 | +57.0% |
| Profit (loss) for the period | 9904 | -€92,597 | €97,243 | +€189,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,597 | €97,243 | +€189,840 |
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 12 October 2026 via checked.be.