AMERIGO: 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.
AMERIGO
Largest movements
- Financial fixed assets +€15.8m
up €15.8m (+35.6%), from €44.4m to €60.2m
- Cash +€5.9m
up €5.9m (+37.6%), from €15.8m to €21.8m
mainly Debts after one year (+€20.0m) and Net result for the year (+€1.9m)
- Debts after one year +€20.0m
up €20.0m (+100.0%), from €20.0m to €40.0m
- Reserves +€945,730
up €945,730 (+3708.7%), from €25,500 to €971,230
of which Tax-exempt reserves: +€896,730
- Profit (loss) carried forward +€923,890
up €923,890, from -€391,604 to €532,286
- Financial income +€1.4m
up €1.4m (+77.6%), from €1.9m to €3.3m
- Financial charges -€1.3m
down €1.3m (-68.4%), from €1.9m to €605,037
of which Non-recurring financial charges: -€1.7m
- Taxes +€262,224
up €262,224 (+64.8%), from €404,708 to €666,932
- Purchases and services -€162,773
no longer reported in 2025 (was €162,773)
- Gross operating margin -€4,110
down €4,110 (-2.5%), from -€162,773 to -€166,883
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 | €60,750,222 | €82,811,709 | +€22.1m | +36.3% |
| Fixed assets | 21/28 | €44,375,091 | €60,150,486 | +€15.8m | +35.6% |
| Financial fixed assets | 28 | €44,375,091 | €60,150,486 | +€15.8m | +35.6% |
| Current assets | 29/58 | €16,375,130 | €22,661,224 | +€6.3m | +38.4% |
| Amounts receivable within one year | 40/41 | €115,363 | €83,483 | -€31,880 | -27.6% |
| Trade receivables | 40 | - | €2,917 | +€2,917 | |
| Other amounts receivable | 41 | €115,363 | €80,566 | -€34,797 | -30.2% |
| Current investments | 50/53 | €136 | - | -€136 | |
| Cash at bank and in hand | 54/58 | €15,814,802 | €21,757,624 | +€5.9m | +37.6% |
| Deferred charges and accrued income | 490/1 | €444,830 | €820,116 | +€375,287 | +84.4% |
| Total equity and liabilities | 10/49 | €60,750,222 | €82,811,709 | +€22.1m | +36.3% |
| Equity | 10/15 | €40,653,731 | €42,523,351 | +€1.9m | +4.6% |
| Contributions | 10/11 | €41,019,836 | €41,019,836 | = | 0.0% |
| Capital | 10 | €41,019,836 | €41,019,836 | = | 0.0% |
| Issued capital | 100 | €41,019,836 | €41,019,836 | = | 0.0% |
| Reserves | 13 | €25,500 | €971,230 | +€945,730 | +3708.7% |
| Non-distributable reserves | 130/1 | €25,500 | €74,500 | +€49,000 | +192.2% |
| Legal reserve | 130 | €25,500 | €74,500 | +€49,000 | +192.2% |
| Tax-exempt reserves | 132 | - | €896,730 | +€896,730 | |
| Profit (loss) carried forward | 14 | -€391,604 | €532,286 | +€923,890 | |
| Amounts payable | 17/49 | €20,096,490 | €40,288,358 | +€20.2m | +100.5% |
| Amounts payable after more than one year | 17 | €20,000,000 | €40,000,000 | +€20.0m | +100.0% |
| Financial debts | 170/4 | €20,000,000 | €40,000,000 | +€20.0m | +100.0% |
| Amounts payable within one year | 42/48 | €96,490 | €288,358 | +€191,867 | +198.8% |
| Trade debts | 44 | €96,490 | €33,734 | -€62,757 | -65.0% |
| Suppliers | 440/4 | €96,490 | €33,734 | -€62,757 | -65.0% |
| Taxes, remuneration and social security | 45 | - | €41,624 | +€41,624 | |
| Taxes | 450/3 | - | €41,624 | +€41,624 | |
| Other amounts payable | 47/48 | - | €213,000 | +€213,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €162,773 | - | -€162,773 | |
| Other operating charges | 640/8 | €220 | €220 | = | 0.0% |
| Gross operating margin | 9900 | -€162,773 | -€166,883 | -€4,110 | -2.5% |
| Operating profit (loss) | 9901 | -€162,993 | -€167,103 | -€4,110 | -2.5% |
| Financial income | 75/76B | €1,863,093 | €3,308,691 | +€1.4m | +77.6% |
| Recurring financial income | 75 | €1,863,093 | €3,308,691 | +€1.4m | +77.6% |
| Financial charges | 65/66B | €1,916,161 | €605,037 | -€1.3m | -68.4% |
| Recurring financial charges | 65 | €72,911 | €448,287 | +€375,376 | +514.8% |
| Non-recurring financial charges | 66B | €1,843,250 | €156,750 | -€1.7m | -91.5% |
| Profit (loss) for the period before taxes | 9903 | -€216,060 | €2,536,552 | +€2.8m | |
| Income taxes | 67/77 | €404,708 | €666,932 | +€262,224 | +64.8% |
| Profit (loss) for the period | 9904 | -€620,768 | €1,869,620 | +€2.5m | |
| Transfer to tax-exempt reserves | 689 | - | €896,730 | +€896,730 | |
| Profit (loss) for the period to be appropriated | 9905 | -€620,768 | €972,890 | +€1.6m |
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 10 October 2026 via checked.be.