AMMARDI: 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.
What changed
AMMARDI
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€55,024
2024 · -€25,353+€80,378
Equity
€6.7m
2024 · €6.7m+€55,024
Cash
-
2024 · €53,436-€53,436
Balance sheet total
€8.9m
2024 · €8.9m-€16,955
Largest movements
Assets
- Receivables within one year +€136,955
up €136,955 (+4.3%), from €3.2m to €3.3m
of which Other amounts receivable: +€85,533
Equity and liabilities
- Other debts -€121,505
down €121,505 (-37.6%), from €323,207 to €201,703
Income statement
- Gross operating margin +€96,421
up €96,421, from -€54,596 to €41,825
- Financial income -€14,530
down €14,530 (-19.9%), from €72,840 to €58,311
- Other operating charges +€8,292
up €8,292 (+521%), from €1,592 to €9,884
- Taxes -€7,852
down €7,852 (-99.5%), from €7,891 to €39
- Depreciation +€1,200
up €1,200 (+3.0%), from €40,523 to €41,723
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.
Result 2024
-€25,353
Gross operating margin
+€96,421
Depreciation
-€1,200
Other operating charges
-€8,292
Financial income
-€14,530
Financial charges
+€127
Taxes
+€7,852
Result 2025
€55,024
raises the resultlowers the result
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.
From operations
-€53,436
Investment
€0
Financing
€0
Cash 2024
€53,436
From operations (derived)
-€53,436
Net result for the year
+€55,024
Depreciation
+€41,723
Stocks and contracts
+€58,750
Receivables within one year
-€136,955
Provisions
-€6,841
Trade debts
+€61,295
Tax, wage and social debts
-€4,928
Other debts
-€121,505
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,889,643 | €8,872,689 | -€16,955 | -0.2% |
| Fixed assets | 21/28 | €1,230,756 | €1,189,033 | -€41,723 | -3.4% |
| Tangible fixed assets | 22/27 | €1,230,756 | €1,189,033 | -€41,723 | -3.4% |
| Land and buildings | 22 | €1,213,631 | €1,172,814 | -€40,817 | -3.4% |
| Plant, machinery and equipment | 23 | €3,655 | €2,749 | -€906 | -24.8% |
| Other tangible fixed assets | 26 | €13,470 | €13,470 | = | 0.0% |
| Current assets | 29/58 | €7,658,887 | €7,683,656 | +€24,769 | +0.3% |
| Stocks and contracts in progress | 3 | €442,250 | €383,500 | -€58,750 | -13.3% |
| Stocks | 30/36 | €442,250 | €383,500 | -€58,750 | -13.3% |
| Amounts receivable within one year | 40/41 | €3,178,449 | €3,315,403 | +€136,955 | +4.3% |
| Trade receivables | 40 | €202,646 | €254,068 | +€51,421 | +25.4% |
| Other amounts receivable | 41 | €2,975,802 | €3,061,336 | +€85,533 | +2.9% |
| Current investments | 50/53 | €3,984,752 | €3,984,752 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,436 | - | -€53,436 | |
| Total equity and liabilities | 10/49 | €8,889,643 | €8,872,689 | -€16,955 | -0.2% |
| Equity | 10/15 | €6,673,109 | €6,728,133 | +€55,024 | +0.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,611,109 | €6,666,133 | +€55,024 | +0.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,361,418 | €5,340,893 | -€20,524 | -0.4% |
| Distributable reserves | 133 | €1,243,491 | €1,319,040 | +€75,549 | +6.1% |
| Provisions and deferred taxes | 16 | €1,724,220 | €1,717,378 | -€6,841 | -0.4% |
| Deferred taxes | 168 | €1,724,220 | €1,717,378 | -€6,841 | -0.4% |
| Amounts payable | 17/49 | €492,314 | €427,177 | -€65,137 | -13.2% |
| Amounts payable within one year | 42/48 | €492,314 | €427,177 | -€65,137 | -13.2% |
| Trade debts | 44 | €164,179 | €225,474 | +€61,295 | +37.3% |
| Suppliers | 440/4 | €164,179 | €225,474 | +€61,295 | +37.3% |
| Taxes, remuneration and social security | 45 | €4,928 | - | -€4,928 | |
| Taxes | 450/3 | €4,928 | - | -€4,928 | |
| Other amounts payable | 47/48 | €323,207 | €201,703 | -€121,505 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,523 | €41,723 | +€1,200 | +3.0% |
| Other operating charges | 640/8 | €1,592 | €9,884 | +€8,292 | +521% |
| Gross operating margin | 9900 | -€54,596 | €41,825 | +€96,421 | |
| Operating profit (loss) | 9901 | -€96,711 | -€9,782 | +€86,929 | +89.9% |
| Financial income | 75/76B | €72,840 | €58,311 | -€14,530 | -19.9% |
| Recurring financial income | 75 | €72,840 | €58,311 | -€14,530 | -19.9% |
| Financial charges | 65/66B | €433 | €306 | -€127 | -29.3% |
| Recurring financial charges | 65 | €433 | €306 | -€127 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,304 | €48,222 | +€72,526 | |
| Transfer from deferred taxes | 780 | €6,841 | €6,841 | = | 0.0% |
| Income taxes | 67/77 | €7,891 | €39 | -€7,852 | -99.5% |
| Profit (loss) for the period | 9904 | -€25,353 | €55,024 | +€80,378 | |
| Transfer from tax-exempt reserves | 789 | €20,524 | €20,524 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,829 | €75,549 | +€80,378 |
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 25 October 2026 via checked.be.