AMMISA: 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.
AMMISA
Largest movements
- Tangible fixed assets +€46,696
up €46,696 (+412%), from €11,333 to €58,029
of which Plant, machinery and equipment: +€51,620
- Receivables within one year -€36,861
down €36,861 (-48.8%), from €75,539 to €38,678
of which Trade receivables: -€26,641
- Cash -€22,080
down €22,080 (-99.4%), from €22,219 to €139
mainly Net result for the year (-€58,029) and Investment in fixed assets (net) (-€53,468)
- Deferred charges and accrued income -€3,540
down €3,540 (-19.9%), from €17,781 to €14,240
- Debts after one year +€60,700
new in 2025: €60,700
- Reserves -€58,029
down €58,029 (-73.0%), from €79,447 to €21,418
- Trade debts -€19,823
down €19,823 (-85.8%), from €23,112 to €3,289
- Tax, wage and social debts -€9,551
down €9,551 (-57.9%), from €16,509 to €6,958
- Short-term financial debts +€8,580
new in 2025: €8,580
- Gross operating margin -€64,845
down €64,845 (-93.4%), from €69,458 to €4,613
- Financial charges +€39,908
up €39,908 (+10,437%), from €382 to €40,290
- Write-downs +€12,260
new in 2025: €12,260
- Taxes -€11,544
down €11,544 (-98.4%), from €11,729 to €185
- Depreciation -€6,083
down €6,083 (-45.9%), from €13,255 to €7,172
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 | €127,271 | €111,086 | -€16,185 | -12.7% |
| Fixed assets | 21/28 | €11,733 | €58,029 | +€46,296 | +395% |
| Tangible fixed assets | 22/27 | €11,333 | €58,029 | +€46,696 | +412% |
| Plant, machinery and equipment | 23 | €5,671 | €57,291 | +€51,620 | +910% |
| Furniture and vehicles | 24 | €5,662 | €738 | -€4,924 | -87.0% |
| Financial fixed assets | 28 | €400 | €0 | -€400 | -100% |
| Current assets | 29/58 | €115,539 | €53,058 | -€62,481 | -54.1% |
| Amounts receivable within one year | 40/41 | €75,539 | €38,678 | -€36,861 | -48.8% |
| Trade receivables | 40 | €40,688 | €14,047 | -€26,641 | -65.5% |
| Other amounts receivable | 41 | €34,851 | €24,631 | -€10,220 | -29.3% |
| Cash at bank and in hand | 54/58 | €22,219 | €139 | -€22,080 | -99.4% |
| Deferred charges and accrued income | 490/1 | €17,781 | €14,240 | -€3,540 | -19.9% |
| Total equity and liabilities | 10/49 | €127,271 | €111,086 | -€16,185 | -12.7% |
| Equity | 10/15 | €84,447 | €26,418 | -€58,029 | -68.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €79,447 | €21,418 | -€58,029 | -73.0% |
| Distributable reserves | 133 | €79,447 | €21,418 | -€58,029 | -73.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €42,824 | €84,669 | +€41,844 | +97.7% |
| Amounts payable after more than one year | 17 | - | €60,700 | +€60,700 | |
| Financial debts | 170/4 | - | €60,700 | +€60,700 | |
| Amounts payable within one year | 42/48 | €41,859 | €23,003 | -€18,856 | -45.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,176 | +€4,176 | |
| Financial debts | 43 | - | €8,580 | +€8,580 | |
| Credit institutions | 430/8 | - | €8,580 | +€8,580 | |
| Trade debts | 44 | €23,112 | €3,289 | -€19,823 | -85.8% |
| Suppliers | 440/4 | €23,112 | €3,289 | -€19,823 | -85.8% |
| Taxes, remuneration and social security | 45 | €16,509 | €6,958 | -€9,551 | -57.9% |
| Taxes | 450/3 | €16,509 | €6,958 | -€9,551 | -57.9% |
| Other amounts payable | 47/48 | €2,238 | €0 | -€2,238 | -100% |
| Accrued charges and deferred income | 492/3 | €966 | €966 | = | 0.0% |
| Non-recurring operating income | 76A | - | €3,721 | +€3,721 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,255 | €7,172 | -€6,083 | -45.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,260 | +€12,260 | |
| Other operating charges | 640/8 | €521 | €719 | +€198 | +37.9% |
| Non-recurring operating charges | 66A | - | €2,090 | +€2,090 | |
| Gross operating margin | 9900 | €69,458 | €4,613 | -€64,845 | -93.4% |
| Operating profit (loss) | 9901 | €55,682 | -€17,628 | -€73,310 | |
| Financial income | 75/76B | €1,567 | €74 | -€1,493 | -95.3% |
| Recurring financial income | 75 | €1,567 | €74 | -€1,493 | -95.3% |
| Financial charges | 65/66B | €382 | €40,290 | +€39,908 | +10,437% |
| Recurring financial charges | 65 | €382 | €40,290 | +€39,908 | +10,437% |
| Profit (loss) for the period before taxes | 9903 | €56,867 | -€57,844 | -€114,711 | |
| Income taxes | 67/77 | €11,729 | €185 | -€11,544 | -98.4% |
| Profit (loss) for the period | 9904 | €45,138 | -€58,029 | -€103,167 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,138 | -€58,029 | -€103,167 |
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 18 October 2026 via checked.be.