AMS Equity: 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.
AMS Equity
Largest movements
- Current investments +€326,632
up €326,632 (+13.3%), from €2.5m to €2.8m
- Tangible fixed assets -€41,021
down €41,021 (-16.7%), from €244,948 to €203,927
of which Land and buildings: -€42,599
- Short-term financial debts +€565,000
up €565,000 (+132.9%), from €425,000 to €990,000
- Other debts -€205,757
down €205,757 (-14.2%), from €1.5m to €1.2m
- Profit (loss) carried forward -€41,406
down €41,406 (-24.7%), from -€167,848 to -€209,254
- Current portion of long-term debt -€31,203
down €31,203 (-100.0%), from €31,203 to €0
- Financial charges +€82,681
up €82,681 (+32.6%), from €253,963 to €336,644
- Financial income -€74,030
down €74,030 (-14.8%), from €500,664 to €426,634
- Gross operating margin +€9,587
up €9,587 (+12.7%), from -€75,341 to -€65,753
- Depreciation -€9,208
down €9,208 (-15.8%), from €58,164 to €48,955
- Other operating charges +€6,077
up €6,077 (+59.2%), from €10,260 to €16,338
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 | €2,800,727 | €3,072,550 | +€271,823 | +9.7% |
| Fixed assets | 21/28 | €244,948 | €203,927 | -€41,021 | -16.7% |
| Tangible fixed assets | 22/27 | €244,948 | €203,927 | -€41,021 | -16.7% |
| Land and buildings | 22 | €231,973 | €189,374 | -€42,599 | -18.4% |
| Furniture and vehicles | 24 | €12,975 | €14,553 | +€1,578 | +12.2% |
| Current assets | 29/58 | €2,555,779 | €2,868,623 | +€312,844 | +12.2% |
| Amounts receivable within one year | 40/41 | €0 | €630 | +€630 | |
| Other amounts receivable | 41 | €0 | €630 | +€630 | |
| Current investments | 50/53 | €2,452,302 | €2,778,934 | +€326,632 | +13.3% |
| Cash at bank and in hand | 54/58 | €45,684 | €23,674 | -€22,010 | -48.2% |
| Deferred charges and accrued income | 490/1 | €57,793 | €65,385 | +€7,591 | +13.1% |
| Total equity and liabilities | 10/49 | €2,800,727 | €3,072,550 | +€271,823 | +9.7% |
| Equity | 10/15 | -€151,263 | -€192,668 | -€41,406 | -27.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,185 | €4,185 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,330 | €2,330 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,848 | -€209,254 | -€41,406 | -24.7% |
| Amounts payable | 17/49 | €2,951,989 | €3,265,218 | +€313,229 | +10.6% |
| Amounts payable after more than one year | 17 | €1,015,000 | €1,015,000 | = | 0.0% |
| Financial debts | 170/4 | €515,000 | €515,000 | = | 0.0% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,923,416 | €2,249,117 | +€325,700 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €31,203 | €0 | -€31,203 | -100.0% |
| Financial debts | 43 | €425,000 | €990,000 | +€565,000 | +132.9% |
| Credit institutions | 430/8 | €425,000 | €990,000 | +€565,000 | +132.9% |
| Trade debts | 44 | €9,272 | €2,014 | -€7,258 | -78.3% |
| Suppliers | 440/4 | €9,272 | €2,014 | -€7,258 | -78.3% |
| Advances received on contracts in progress | 46 | - | €8,100 | +€8,100 | |
| Taxes, remuneration and social security | 45 | €3,865 | €684 | -€3,182 | -82.3% |
| Taxes | 450/3 | €3,865 | €684 | -€3,182 | -82.3% |
| Other amounts payable | 47/48 | €1,454,075 | €1,248,319 | -€205,757 | -14.2% |
| Accrued charges and deferred income | 492/3 | €13,573 | €1,101 | -€12,472 | -91.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,164 | €48,955 | -€9,208 | -15.8% |
| Other operating charges | 640/8 | €10,260 | €16,338 | +€6,077 | +59.2% |
| Gross operating margin | 9900 | -€75,341 | -€65,753 | +€9,587 | +12.7% |
| Operating profit (loss) | 9901 | -€143,765 | -€131,046 | +€12,718 | +8.8% |
| Financial income | 75/76B | €500,664 | €426,634 | -€74,030 | -14.8% |
| Recurring financial income | 75 | €500,664 | €426,634 | -€74,030 | -14.8% |
| Financial charges | 65/66B | €253,963 | €336,644 | +€82,681 | +32.6% |
| Recurring financial charges | 65 | €253,963 | €336,644 | +€82,681 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €102,936 | -€41,056 | -€143,992 | |
| Income taxes | 67/77 | €349 | €350 | +€1 | +0.3% |
| Profit (loss) for the period | 9904 | €102,587 | -€41,406 | -€143,993 | |
| Profit (loss) for the period to be appropriated | 9905 | €102,587 | -€41,406 | -€143,993 |
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.