AMH PROJECT: 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.
AMH PROJECT
Largest movements
- Cash -€25,491
down €25,491 (-92.5%), from €27,569 to €2,078
mainly Contributions, distributions and other (-€90,000) and Accrued charges and deferred income (-€43,569)
- Receivables within one year +€6,423
up €6,423 (+4.3%), from €150,381 to €156,804
of which Other amounts receivable: +€37,218
- Other debts +€58,800
up €58,800 (+245.0%), from €24,000 to €82,800
- Accrued charges and deferred income -€43,569
no longer reported in 2025 (was €43,569)
- Trade debts -€39,788
down €39,788 (-72.0%), from €55,270 to €15,482
- Current portion of long-term debt -€8,838
down €8,838 (-45.6%), from €19,394 to €10,556
- Tax, wage and social debts +€7,110
up €7,110 (+48.9%), from €14,541 to €21,651
- Gross operating margin +€76,161
up €76,161 (+255.3%), from €29,837 to €105,998
- Depreciation -€14,144
down €14,144 (-91.0%), from €15,539 to €1,395
- Taxes +€7,621
up €7,621 (+321.6%), from €2,370 to €9,991
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 | €183,524 | €163,062 | -€20,462 | -11.1% |
| Fixed assets | 21/28 | €3,685 | €2,290 | -€1,395 | -37.9% |
| Tangible fixed assets | 22/27 | €3,625 | €2,230 | -€1,395 | -38.5% |
| Furniture and vehicles | 24 | €3,625 | €2,230 | -€1,395 | -38.5% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €179,839 | €160,772 | -€19,067 | -10.6% |
| Amounts receivable within one year | 40/41 | €150,381 | €156,804 | +€6,423 | +4.3% |
| Trade receivables | 40 | €38,744 | €7,949 | -€30,795 | -79.5% |
| Other amounts receivable | 41 | €111,637 | €148,855 | +€37,218 | +33.3% |
| Cash at bank and in hand | 54/58 | €27,569 | €2,078 | -€25,491 | -92.5% |
| Deferred charges and accrued income | 490/1 | €1,889 | €1,890 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €183,524 | €163,062 | -€20,462 | -11.1% |
| Equity | 10/15 | €26,750 | €32,573 | +€5,823 | +21.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,550 | €26,373 | +€5,823 | +28.3% |
| Amounts payable | 17/49 | €156,774 | €130,489 | -€26,285 | -16.8% |
| Amounts payable within one year | 42/48 | €113,205 | €130,489 | +€17,284 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €19,394 | €10,556 | -€8,838 | -45.6% |
| Trade debts | 44 | €55,270 | €15,482 | -€39,788 | -72.0% |
| Suppliers | 440/4 | €55,270 | €15,482 | -€39,788 | -72.0% |
| Taxes, remuneration and social security | 45 | €14,541 | €21,651 | +€7,110 | +48.9% |
| Taxes | 450/3 | €14,541 | €21,651 | +€7,110 | +48.9% |
| Other amounts payable | 47/48 | €24,000 | €82,800 | +€58,800 | +245.0% |
| Accrued charges and deferred income | 492/3 | €43,569 | - | -€43,569 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,539 | €1,395 | -€14,144 | -91.0% |
| Other operating charges | 640/8 | €3,267 | €2,277 | -€990 | -30.3% |
| Non-recurring operating charges | 66A | €2,738 | - | -€2,738 | |
| Gross operating margin | 9900 | €29,837 | €105,998 | +€76,161 | +255.3% |
| Operating profit (loss) | 9901 | €8,293 | €102,326 | +€94,033 | +1133.9% |
| Financial income | 75/76B | €4,778 | €5,183 | +€405 | +8.5% |
| Recurring financial income | 75 | €4,778 | €5,183 | +€405 | +8.5% |
| Financial charges | 65/66B | €653 | €1,695 | +€1,042 | +159.6% |
| Recurring financial charges | 65 | €653 | €1,695 | +€1,042 | +159.6% |
| Profit (loss) for the period before taxes | 9903 | €12,418 | €105,814 | +€93,396 | +752.1% |
| Income taxes | 67/77 | €2,370 | €9,991 | +€7,621 | +321.6% |
| Profit (loss) for the period | 9904 | €10,048 | €95,823 | +€85,775 | +853.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,048 | €95,823 | +€85,775 | +853.7% |
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 6 October 2026 via checked.be.