AMNorman: 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.
AMNorman
Largest movements
- Receivables within one year +€173,839
up €173,839 (+13.2%), from €1.3m to €1.5m
of which Trade receivables: +€107,706
- Cash -€133,435
down €133,435 (-15.4%), from €868,402 to €734,967
mainly Contributions, distributions and other (-€649,469) and Other debts (-€199,278)
- Intangible fixed assets -€45,946
down €45,946 (-11.0%), from €416,698 to €370,752
- Other debts -€199,278
down €199,278 (-23.5%), from €848,764 to €649,487
- Profit (loss) carried forward +€176,912
up €176,912 (+46.4%), from €381,181 to €558,094
- Debts after one year -€132,127
down €132,127 (-29.2%), from €452,834 to €320,707
- Trade debts +€108,801
up €108,801 (+39.0%), from €278,948 to €387,749
- Tax, wage and social debts -€50,807
down €50,807 (-6.2%), from €825,387 to €774,581
of which Taxes: -€81,232
- Staff costs +€346,311
up €346,311 (+10.4%), from €3.3m to €3.7m
- Gross operating margin +€118,606
up €118,606 (+2.5%), from €4.8m to €4.9m
- Taxes -€90,838
down €90,838 (-23.9%), from €380,101 to €289,263
- Depreciation +€76,328
up €76,328 (+117.9%), from €64,742 to €141,069
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 | €4,207,743 | €4,171,294 | -€36,449 | -0.9% |
| Fixed assets | 21/28 | €1,217,859 | €1,154,544 | -€63,315 | -5.2% |
| Intangible fixed assets | 21 | €416,698 | €370,752 | -€45,946 | -11.0% |
| Tangible fixed assets | 22/27 | €121,018 | €104,339 | -€16,679 | -13.8% |
| Plant, machinery and equipment | 23 | €36,590 | €34,643 | -€1,947 | -5.3% |
| Furniture and vehicles | 24 | €84,428 | €69,697 | -€14,732 | -17.4% |
| Financial fixed assets | 28 | €680,143 | €679,453 | -€690 | -0.1% |
| Current assets | 29/58 | €2,989,883 | €3,016,750 | +€26,866 | +0.9% |
| Amounts receivable within one year | 40/41 | €1,318,777 | €1,492,617 | +€173,839 | +13.2% |
| Trade receivables | 40 | €1,318,777 | €1,426,484 | +€107,706 | +8.2% |
| Other amounts receivable | 41 | - | €66,133 | +€66,133 | |
| Current investments | 50/53 | €743,453 | €743,453 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €868,402 | €734,967 | -€133,435 | -15.4% |
| Deferred charges and accrued income | 490/1 | €59,251 | €45,714 | -€13,537 | -22.8% |
| Total equity and liabilities | 10/49 | €4,207,743 | €4,171,294 | -€36,449 | -0.9% |
| Equity | 10/15 | €1,206,187 | €1,383,100 | +€176,912 | +14.7% |
| Contributions | 10/11 | €74,140 | €74,140 | = | 0.0% |
| Reserves | 13 | €750,866 | €750,866 | = | 0.0% |
| Non-distributable reserves | 130/1 | €743,453 | €743,453 | = | 0.0% |
| Own shares acquired | 1312 | €743,453 | €743,453 | = | 0.0% |
| Distributable reserves | 133 | €7,414 | €7,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | €381,181 | €558,094 | +€176,912 | +46.4% |
| Amounts payable | 17/49 | €3,001,555 | €2,788,194 | -€213,361 | -7.1% |
| Amounts payable after more than one year | 17 | €452,834 | €320,707 | -€132,127 | -29.2% |
| Financial debts | 170/4 | €452,834 | €320,707 | -€132,127 | -29.2% |
| Amounts payable within one year | 42/48 | €2,543,721 | €2,445,437 | -€98,285 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €129,382 | €132,127 | +€2,745 | +2.1% |
| Financial debts | 43 | €461,240 | €501,493 | +€40,253 | +8.7% |
| Credit institutions | 430/8 | €361,240 | €401,493 | +€40,253 | +11.1% |
| Other loans | 439 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €278,948 | €387,749 | +€108,801 | +39.0% |
| Suppliers | 440/4 | €278,948 | €387,749 | +€108,801 | +39.0% |
| Taxes, remuneration and social security | 45 | €825,387 | €774,581 | -€50,807 | -6.2% |
| Taxes | 450/3 | €365,019 | €283,787 | -€81,232 | -22.3% |
| Remuneration and social security | 454/9 | €460,368 | €490,793 | +€30,425 | +6.6% |
| Other amounts payable | 47/48 | €848,764 | €649,487 | -€199,278 | -23.5% |
| Accrued charges and deferred income | 492/3 | €5,000 | €22,050 | +€17,050 | +341.0% |
| Non-recurring operating income | 76A | €29,176 | €6,858 | -€22,318 | -76.5% |
| Remuneration, social security and pensions | 62 | €3,325,985 | €3,672,297 | +€346,311 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,742 | €141,069 | +€76,328 | +117.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,007 | - | +€3,007 | |
| Other operating charges | 640/8 | €22,786 | €49,717 | +€26,931 | +118.2% |
| Non-recurring operating charges | 66A | €997 | €684 | -€313 | -31.4% |
| Gross operating margin | 9900 | €4,790,879 | €4,909,485 | +€118,606 | +2.5% |
| Operating profit (loss) | 9901 | €1,379,377 | €1,045,719 | -€333,659 | -24.2% |
| Financial income | 75/76B | €125,538 | €166,106 | +€40,569 | +32.3% |
| Recurring financial income | 75 | €125,538 | €166,106 | +€40,569 | +32.3% |
| Financial charges | 65/66B | €87,909 | €96,180 | +€8,271 | +9.4% |
| Recurring financial charges | 65 | €87,909 | €96,180 | +€8,271 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €1,417,006 | €1,115,645 | -€301,361 | -21.3% |
| Income taxes | 67/77 | €380,101 | €289,263 | -€90,838 | -23.9% |
| Profit (loss) for the period | 9904 | €1,036,904 | €826,381 | -€210,523 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,036,904 | €826,381 | -€210,523 | -20.3% |
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 2 October 2026 via checked.be.