AMMAJ: 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.
AMMAJ
Largest movements
- Tangible fixed assets +€28,719
up €28,719 (+101%), from €28,573 to €57,292
of which Furniture and vehicles: +€15,806
- Cash -€25,660
down €25,660 (-41.5%), from €61,824 to €36,165
mainly Investment in fixed assets (net) (-€35,240) and Receivables within one year (-€18,220)
- Receivables within one year +€18,220
up €18,220 (+486%), from €3,745 to €21,966
of which Trade receivables: +€17,836
- Deferred charges and accrued income +€2,764
new in 2025: €2,764
- Reserves +€35,006
up €35,006 (+56.1%), from €62,351 to €97,357
- Trade debts -€10,158
down €10,158 (-65.0%), from €15,620 to €5,462
- Gross operating margin +€4,795
up €4,795 (+9.8%), from €48,708 to €53,503
- Depreciation +€3,912
up €3,912 (+150%), from €2,609 to €6,521
- Financial charges +€1,261
up €1,261 (+823%), from €153 to €1,414
- Taxes +€886
up €886 (+9.3%), from €9,578 to €10,465
- Staff costs -€692
down €692 (-100%), from €692 to €0
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 | €94,142 | €118,186 | +€24,044 | +25.5% |
| Fixed assets | 21/28 | €28,573 | €57,292 | +€28,719 | +101% |
| Tangible fixed assets | 22/27 | €28,573 | €57,292 | +€28,719 | +101% |
| Land and buildings | 22 | €4,169 | €15,757 | +€11,588 | +278% |
| Plant, machinery and equipment | 23 | - | €1,326 | +€1,326 | |
| Furniture and vehicles | 24 | €24,403 | €40,209 | +€15,806 | +64.8% |
| Current assets | 29/58 | €65,569 | €60,894 | -€4,676 | -7.1% |
| Amounts receivable within one year | 40/41 | €3,745 | €21,966 | +€18,220 | +486% |
| Trade receivables | 40 | €3,237 | €21,073 | +€17,836 | +551% |
| Other amounts receivable | 41 | €508 | €893 | +€384 | +75.6% |
| Cash at bank and in hand | 54/58 | €61,824 | €36,165 | -€25,660 | -41.5% |
| Deferred charges and accrued income | 490/1 | - | €2,764 | +€2,764 | |
| Total equity and liabilities | 10/49 | €94,142 | €118,186 | +€24,044 | +25.5% |
| Equity | 10/15 | €63,351 | €98,357 | +€35,006 | +55.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €62,351 | €97,357 | +€35,006 | +56.1% |
| Distributable reserves | 133 | €62,351 | €97,357 | +€35,006 | +56.1% |
| Amounts payable | 17/49 | €30,791 | €19,829 | -€10,962 | -35.6% |
| Amounts payable within one year | 42/48 | €30,791 | €19,829 | -€10,962 | -35.6% |
| Financial debts | 43 | €180 | €473 | +€293 | +162% |
| Credit institutions | 430/8 | €180 | €473 | +€293 | +162% |
| Trade debts | 44 | €15,620 | €5,462 | -€10,158 | -65.0% |
| Suppliers | 440/4 | €15,620 | €5,462 | -€10,158 | -65.0% |
| Taxes, remuneration and social security | 45 | €14,991 | €13,893 | -€1,098 | -7.3% |
| Taxes | 450/3 | €13,890 | €13,893 | +€3 | 0.0% |
| Remuneration and social security | 454/9 | €1,101 | €0 | -€1,101 | -100% |
| Remuneration, social security and pensions | 62 | €692 | €0 | -€692 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,609 | €6,521 | +€3,912 | +150% |
| Other operating charges | 640/8 | €0 | €138 | +€138 | |
| Gross operating margin | 9900 | €48,708 | €53,503 | +€4,795 | +9.8% |
| Operating profit (loss) | 9901 | €45,407 | €46,845 | +€1,438 | +3.2% |
| Financial income | 75/76B | €552 | €40 | -€512 | -92.8% |
| Recurring financial income | 75 | €552 | €40 | -€512 | -92.8% |
| Financial charges | 65/66B | €153 | €1,414 | +€1,261 | +823% |
| Recurring financial charges | 65 | €153 | €1,414 | +€1,261 | +823% |
| Profit (loss) for the period before taxes | 9903 | €45,806 | €45,471 | -€335 | -0.7% |
| Income taxes | 67/77 | €9,578 | €10,465 | +€886 | +9.3% |
| Profit (loss) for the period | 9904 | €36,228 | €35,006 | -€1,222 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,228 | €35,006 | -€1,222 | -3.4% |
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 16 October 2026 via checked.be.