AMELINE: 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.
AMELINE
Largest movements
- Financial fixed assets +€800,000
up €800,000 (+47.1%), from €1.7m to €2.5m
- Receivables after one year -€470,000
no longer reported in 2025 (was €470,000)
- Tangible fixed assets +€292,856
up €292,856 (+48.9%), from €599,402 to €892,257
of which Land and buildings: +€296,058
- Cash -€63,353
down €63,353 (-49.3%), from €128,509 to €65,155
mainly Investment in fixed assets (net) (-€1.2m) and Short-term financial debts (-€350,000)
- Reserves +€834,653
up €834,653 (+46.0%), from €1.8m to €2.6m
- Short-term financial debts -€350,000
no longer reported in 2025 (was €350,000)
- Debts after one year +€88,308
new in 2025: €88,308
- Other debts -€67,137
no longer reported in 2025 (was €67,137)
- Financial income +€725,600
up €725,600 (+323%), from €224,400 to €950,000
- Gross operating margin -€46,490
down €46,490 (-55.5%), from €83,815 to €37,325
- Taxes +€43,653
up €43,653 (+108%), from €40,446 to €84,099
- Depreciation +€37,667
up €37,667 (+181%), from €20,838 to €58,504
- Financial charges +€4,434
up €4,434 (+282%), from €1,572 to €6,006
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 | €3,465,172 | €3,987,763 | +€522,591 | +15.1% |
| Fixed assets | 21/28 | €2,299,402 | €3,392,257 | +€1.1m | +47.5% |
| Tangible fixed assets | 22/27 | €599,402 | €892,257 | +€292,856 | +48.9% |
| Land and buildings | 22 | €581,623 | €877,681 | +€296,058 | +50.9% |
| Furniture and vehicles | 24 | €2,765 | €394 | -€2,370 | -85.7% |
| Other tangible fixed assets | 26 | €15,014 | €14,182 | -€832 | -5.5% |
| Financial fixed assets | 28 | €1,700,000 | €2,500,000 | +€800,000 | +47.1% |
| Current assets | 29/58 | €1,165,770 | €595,506 | -€570,264 | -48.9% |
| Amounts receivable after more than one year | 29 | €470,000 | - | -€470,000 | |
| Other amounts receivable | 291 | €470,000 | - | -€470,000 | |
| Amounts receivable within one year | 40/41 | €165,000 | €128,335 | -€36,665 | -22.2% |
| Trade receivables | 40 | - | €1,170 | +€1,170 | |
| Other amounts receivable | 41 | €165,000 | €127,165 | -€37,835 | -22.9% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €128,509 | €65,155 | -€63,353 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,262 | €2,016 | -€246 | -10.9% |
| Total equity and liabilities | 10/49 | €3,465,172 | €3,987,763 | +€522,591 | +15.1% |
| Equity | 10/15 | €2,979,006 | €3,813,659 | +€834,653 | +28.0% |
| Contributions | 10/11 | €1,165,080 | €1,165,080 | = | 0.0% |
| Reserves | 13 | €1,813,926 | €2,648,579 | +€834,653 | +46.0% |
| Distributable reserves | 133 | €1,813,926 | €2,648,579 | +€834,653 | +46.0% |
| Amounts payable | 17/49 | €486,167 | €174,104 | -€312,062 | -64.2% |
| Amounts payable after more than one year | 17 | - | €88,308 | +€88,308 | |
| Financial debts | 170/4 | - | €88,308 | +€88,308 | |
| Amounts payable within one year | 42/48 | €482,419 | €82,342 | -€400,077 | -82.9% |
| Current portion of amounts payable after more than one year | 42 | €5,666 | €9,790 | +€4,124 | +72.8% |
| Financial debts | 43 | €350,000 | - | -€350,000 | |
| Credit institutions | 430/8 | €350,000 | - | -€350,000 | |
| Trade debts | 44 | €7,966 | - | -€7,966 | |
| Suppliers | 440/4 | €7,966 | - | -€7,966 | |
| Taxes, remuneration and social security | 45 | €51,650 | €72,552 | +€20,903 | +40.5% |
| Taxes | 450/3 | €50,150 | €72,552 | +€22,403 | +44.7% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €67,137 | - | -€67,137 | |
| Accrued charges and deferred income | 492/3 | €3,748 | €3,454 | -€293 | -7.8% |
| Non-recurring operating income | 76A | €1,228 | €1,452 | +€224 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,838 | €58,504 | +€37,667 | +181% |
| Other operating charges | 640/8 | €4,121 | €3,704 | -€417 | -10.1% |
| Non-recurring operating charges | 66A | - | €292 | +€292 | |
| Gross operating margin | 9900 | €83,815 | €37,325 | -€46,490 | -55.5% |
| Operating profit (loss) | 9901 | €58,856 | -€25,175 | -€84,031 | |
| Financial income | 75/76B | €224,400 | €950,000 | +€725,600 | +323% |
| Recurring financial income | 75 | €224,400 | €950,000 | +€725,600 | +323% |
| Financial charges | 65/66B | €1,572 | €6,006 | +€4,434 | +282% |
| Recurring financial charges | 65 | €1,572 | €6,006 | +€4,434 | +282% |
| Profit (loss) for the period before taxes | 9903 | €281,684 | €918,819 | +€637,135 | +226% |
| Income taxes | 67/77 | €40,446 | €84,099 | +€43,653 | +108% |
| Profit (loss) for the period | 9904 | €241,238 | €834,721 | +€593,482 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €241,238 | €834,721 | +€593,482 | +246% |
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 17 October 2026 via checked.be.