AMFORE: what changed
AMFORE
Largest movements
- Tangible fixed assets +€43,504
up €43,504 (+22.0%), from €197,426 to €240,930
of which Plant, machinery and equipment: +€35,082
- Receivables within one year +€13,771
up €13,771 (+678%), from €2,030 to €15,802
of which Other amounts receivable: +€8,900
- Intangible fixed assets +€3,632
new in 2025: €3,632
- Cash +€2,937
up €2,937 (+322%), from €911 to €3,848
mainly Other debts (+€64,573) and Depreciation (+€6,669)
- Other debts +€64,573
up €64,573 (+144%), from €44,927 to €109,500
- Gross operating margin -€20,621
down €20,621 (-75.0%), from €27,479 to €6,858
- Taxes -€4,035
no longer reported in 2025 (was €4,035)
- Depreciation -€2,285
down €2,285 (-25.5%), from €8,955 to €6,669
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,367 | €264,212 | +€63,845 | +31.9% |
| Fixed assets | 21/28 | €197,426 | €244,563 | +€47,137 | +23.9% |
| Intangible fixed assets | 21 | - | €3,632 | +€3,632 | |
| Tangible fixed assets | 22/27 | €197,426 | €240,930 | +€43,504 | +22.0% |
| Land and buildings | 22 | €197,426 | €205,848 | +€8,423 | +4.3% |
| Plant, machinery and equipment | 23 | - | €35,082 | +€35,082 | |
| Current assets | 29/58 | €2,942 | €19,650 | +€16,708 | +568% |
| Amounts receivable within one year | 40/41 | €2,030 | €15,802 | +€13,771 | +678% |
| Trade receivables | 40 | €972 | €5,843 | +€4,871 | +501% |
| Other amounts receivable | 41 | €1,058 | €9,959 | +€8,900 | +841% |
| Cash at bank and in hand | 54/58 | €911 | €3,848 | +€2,937 | +322% |
| Total equity and liabilities | 10/49 | €200,367 | €264,212 | +€63,845 | +31.9% |
| Equity | 10/15 | €155,373 | €152,177 | -€3,197 | -2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €146,860 | €145,977 | -€883 | -0.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €145,000 | €144,117 | -€883 | -0.6% |
| Profit (loss) carried forward | 14 | €2,313 | - | -€2,313 | |
| Amounts payable | 17/49 | €44,994 | €112,036 | +€67,042 | +149% |
| Amounts payable within one year | 42/48 | €44,994 | €112,036 | +€67,042 | +149% |
| Trade debts | 44 | €33 | €2,536 | +€2,503 | +7,633% |
| Suppliers | 440/4 | €33 | €2,536 | +€2,503 | +7,633% |
| Taxes, remuneration and social security | 45 | €35 | - | -€35 | |
| Taxes | 450/3 | €35 | - | -€35 | |
| Other amounts payable | 47/48 | €44,927 | €109,500 | +€64,573 | +144% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,955 | €6,669 | -€2,285 | -25.5% |
| Other operating charges | 640/8 | €3,068 | €3,290 | +€223 | +7.3% |
| Gross operating margin | 9900 | €27,479 | €6,858 | -€20,621 | -75.0% |
| Operating profit (loss) | 9901 | €15,457 | -€3,101 | -€18,558 | |
| Financial charges | 65/66B | €284 | €96 | -€188 | -66.3% |
| Recurring financial charges | 65 | €284 | €96 | -€188 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €15,173 | -€3,197 | -€18,370 | |
| Income taxes | 67/77 | €4,035 | - | -€4,035 | |
| Profit (loss) for the period | 9904 | €11,139 | -€3,197 | -€14,335 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,139 | -€3,197 | -€14,335 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.