AMELUK: 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.
AMELUK
Largest movements
- Tangible fixed assets -€772,843
down €772,843 (-21.4%), from €3.6m to €2.8m
of which Land and buildings: -€760,257
- Cash -€588,444
down €588,444 (-92.9%), from €633,159 to €44,715
mainly Other debts (-€788,438) and Debts after one year (-€784,230)
- Receivables within one year -€141,386
down €141,386 (-53.2%), from €265,770 to €124,384
of which Other amounts receivable: -€141,386
- Stocks and contracts -€117,571
down €117,571 (-16.3%), from €720,231 to €602,661
- Other debts -€788,438
down €788,438 (-48.1%), from €1.6m to €850,475
- Debts after one year -€784,230
down €784,230 (-44.6%), from €1.8m to €972,575
of which Financial debts: -€784,230
- Financial income +€120,084
up €120,084 (+1699.5%), from €7,066 to €127,150
of which Non-recurring financial income: +€119,302
- Gross operating margin -€93,349
down €93,349 (-45.2%), from €206,593 to €113,244
- Financial charges -€34,699
down €34,699 (-34.1%), from €101,786 to €67,087
- Taxes +€22,523
up €22,523 (+306.4%), from €7,350 to €29,873
- Depreciation -€14,875
down €14,875 (-8.1%), from €184,011 to €169,136
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 | €5,292,978 | €3,675,359 | -€1.6m | -30.6% |
| Fixed assets | 21/28 | €3,609,246 | €2,835,958 | -€773,288 | -21.4% |
| Intangible fixed assets | 21 | €1,085 | €640 | -€445 | -41.0% |
| Tangible fixed assets | 22/27 | €3,608,160 | €2,835,318 | -€772,843 | -21.4% |
| Land and buildings | 22 | €3,565,603 | €2,805,346 | -€760,257 | -21.3% |
| Plant, machinery and equipment | 23 | €8,905 | €8,878 | -€27 | -0.3% |
| Furniture and vehicles | 24 | €33,653 | €21,094 | -€12,558 | -37.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,683,733 | €839,401 | -€844,332 | -50.1% |
| Amounts receivable after more than one year | 29 | €59,631 | €59,631 | = | 0.0% |
| Other amounts receivable | 291 | €59,631 | €59,631 | = | 0.0% |
| Stocks and contracts in progress | 3 | €720,231 | €602,661 | -€117,571 | -16.3% |
| Stocks | 30/36 | €720,231 | €602,661 | -€117,571 | -16.3% |
| Amounts receivable within one year | 40/41 | €265,770 | €124,384 | -€141,386 | -53.2% |
| Trade receivables | 40 | €30 | €30 | = | 0.0% |
| Other amounts receivable | 41 | €265,740 | €124,353 | -€141,386 | -53.2% |
| Cash at bank and in hand | 54/58 | €633,159 | €44,715 | -€588,444 | -92.9% |
| Deferred charges and accrued income | 490/1 | €4,942 | €8,011 | +€3,069 | +62.1% |
| Total equity and liabilities | 10/49 | €5,292,978 | €3,675,359 | -€1.6m | -30.6% |
| Equity | 10/15 | €1,256,914 | €1,264,703 | +€7,789 | +0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,248,070 | €1,252,303 | +€4,233 | +0.3% |
| Tax-exempt reserves | 132 | €863,192 | €785,685 | -€77,507 | -9.0% |
| Distributable reserves | 133 | €384,878 | €466,619 | +€81,740 | +21.2% |
| Profit (loss) carried forward | 14 | -€3,556 | €0 | +€3,556 | |
| Provisions and deferred taxes | 16 | €287,731 | €235,232 | -€52,499 | -18.2% |
| Deferred taxes | 168 | €287,731 | €235,232 | -€52,499 | -18.2% |
| Amounts payable | 17/49 | €3,748,334 | €2,175,424 | -€1.6m | -42.0% |
| Amounts payable after more than one year | 17 | €1,756,806 | €972,575 | -€784,230 | -44.6% |
| Financial debts | 170/4 | €1,756,056 | €971,825 | -€784,230 | -44.7% |
| Other amounts payable | 178/9 | €750 | €750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,991,234 | €1,202,231 | -€789,003 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €189,328 | €171,631 | -€17,698 | -9.3% |
| Financial debts | 43 | €71,600 | €71,640 | +€40 | +0.1% |
| Credit institutions | 430/8 | €71,600 | €71,640 | +€40 | +0.1% |
| Trade debts | 44 | €57,707 | €88,373 | +€30,666 | +53.1% |
| Suppliers | 440/4 | €57,707 | €88,373 | +€30,666 | +53.1% |
| Taxes, remuneration and social security | 45 | €33,687 | €20,114 | -€13,573 | -40.3% |
| Taxes | 450/3 | €33,687 | €20,114 | -€13,573 | -40.3% |
| Other amounts payable | 47/48 | €1,638,912 | €850,475 | -€788,438 | -48.1% |
| Accrued charges and deferred income | 492/3 | €294 | €617 | +€324 | +110.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,011 | €169,136 | -€14,875 | -8.1% |
| Other operating charges | 640/8 | €20,802 | €22,563 | +€1,760 | +8.5% |
| Gross operating margin | 9900 | €206,593 | €113,244 | -€93,349 | -45.2% |
| Operating profit (loss) | 9901 | €1,780 | -€78,455 | -€80,235 | |
| Financial income | 75/76B | €7,066 | €127,150 | +€120,084 | +1699.5% |
| Recurring financial income | 75 | €7,066 | €7,847 | +€782 | +11.1% |
| Non-recurring financial income | 76B | €0 | €119,302 | +€119,302 | |
| Financial charges | 65/66B | €101,786 | €67,087 | -€34,699 | -34.1% |
| Recurring financial charges | 65 | €101,786 | €67,087 | -€34,699 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | -€92,940 | -€18,392 | +€74,548 | +80.2% |
| Transfer from deferred taxes | 780 | €4,257 | €79,300 | +€75,043 | +1762.9% |
| Transfer to deferred taxes | 680 | €0 | €26,801 | +€26,801 | |
| Income taxes | 67/77 | €7,350 | €29,873 | +€22,523 | +306.4% |
| Profit (loss) for the period | 9904 | -€96,033 | €4,233 | +€100,267 | |
| Transfer from tax-exempt reserves | 789 | €12,770 | €237,899 | +€225,128 | +1762.9% |
| Transfer to tax-exempt reserves | 689 | €0 | €160,392 | +€160,392 | |
| Profit (loss) for the period to be appropriated | 9905 | -€83,263 | €81,740 | +€165,003 |
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.