AMS Forces: 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.
AMS Forces
Largest movements
- Receivables within one year +€69,560
up €69,560 (+28.7%), from €242,559 to €312,119
of which Trade receivables: +€66,425
- Cash -€44,546
down €44,546 (-99.6%), from €44,736 to €189
mainly Receivables within one year (-€69,560) and Investment in fixed assets (net) (-€1,773)
- Reserves +€21,717
up €21,717 (+8.7%), from €249,190 to €270,907
of which Distributable reserves: +€21,717
- Accrued charges and deferred income +€3,976
new in 2025: €3,976
- Tax, wage and social debts +€3,646
up €3,646 (+18.6%), from €19,651 to €23,297
of which Taxes: +€9,246
- Gross operating margin -€20,338
down €20,338 (-38.9%), from €52,270 to €31,932
- Taxes -€4,179
down €4,179 (-37.0%), from €11,308 to €7,129
- Financial charges -€1,107
down €1,107 (-34.6%), from €3,196 to €2,089
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 | €288,691 | €316,144 | +€27,453 | +9.5% |
| Fixed assets | 21/28 | €363 | €1,832 | +€1,469 | +404.6% |
| Tangible fixed assets | 22/27 | - | €1,469 | +€1,469 | |
| Plant, machinery and equipment | 23 | - | €1,469 | +€1,469 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €288,328 | €314,312 | +€25,984 | +9.0% |
| Amounts receivable within one year | 40/41 | €242,559 | €312,119 | +€69,560 | +28.7% |
| Trade receivables | 40 | €12,209 | €78,635 | +€66,425 | +544.1% |
| Other amounts receivable | 41 | €230,350 | €233,484 | +€3,135 | +1.4% |
| Cash at bank and in hand | 54/58 | €44,736 | €189 | -€44,546 | -99.6% |
| Deferred charges and accrued income | 490/1 | €1,034 | €2,004 | +€970 | +93.9% |
| Total equity and liabilities | 10/49 | €288,691 | €316,144 | +€27,453 | +9.5% |
| Equity | 10/15 | €261,590 | €283,307 | +€21,717 | +8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €249,190 | €270,907 | +€21,717 | +8.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €247,330 | €269,047 | +€21,717 | +8.8% |
| Amounts payable | 17/49 | €27,101 | €32,837 | +€5,736 | +21.2% |
| Amounts payable within one year | 42/48 | €27,101 | €28,862 | +€1,760 | +6.5% |
| Financial debts | 43 | €1,335 | €803 | -€532 | -39.8% |
| Credit institutions | 430/8 | €1,335 | €803 | -€532 | -39.8% |
| Trade debts | 44 | €6,115 | €4,761 | -€1,354 | -22.1% |
| Suppliers | 440/4 | €6,115 | €4,761 | -€1,354 | -22.1% |
| Taxes, remuneration and social security | 45 | €19,651 | €23,297 | +€3,646 | +18.6% |
| Taxes | 450/3 | €14,051 | €23,297 | +€9,246 | +65.8% |
| Remuneration and social security | 454/9 | €5,600 | €0 | -€5,600 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €3,976 | +€3,976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €304 | +€304 | |
| Other operating charges | 640/8 | €514 | €698 | +€184 | +35.8% |
| Gross operating margin | 9900 | €52,270 | €31,932 | -€20,338 | -38.9% |
| Operating profit (loss) | 9901 | €51,756 | €30,930 | -€20,826 | -40.2% |
| Financial income | 75/76B | €6 | €5 | -€1 | -15.3% |
| Recurring financial income | 75 | €6 | €5 | -€1 | -15.3% |
| Financial charges | 65/66B | €3,196 | €2,089 | -€1,107 | -34.6% |
| Recurring financial charges | 65 | €3,196 | €2,089 | -€1,107 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €48,566 | €28,846 | -€19,720 | -40.6% |
| Income taxes | 67/77 | €11,308 | €7,129 | -€4,179 | -37.0% |
| Profit (loss) for the period | 9904 | €37,257 | €21,717 | -€15,540 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,257 | €21,717 | -€15,540 | -41.7% |
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 12 October 2026 via checked.be.