AMV: 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.
AMV
Largest movements
- Tangible fixed assets +€63,405
up €63,405 (+12.6%), from €503,661 to €567,066
of which Plant, machinery and equipment: +€47,466
- Receivables within one year +€59,116
up €59,116 (+43.1%), from €137,292 to €196,408
of which Trade receivables: +€58,910
- Cash +€25,469
up €25,469 (+126.4%), from €20,150 to €45,619
mainly Depreciation (+€63,815) and Trade debts (+€59,181)
- Trade debts +€59,181
up €59,181 (+3606.4%), from €1,641 to €60,822
- Debts after one year +€55,021
up €55,021 (+30.0%), from €183,604 to €238,625
- Current portion of long-term debt +€14,621
up €14,621 (+37.0%), from €39,510 to €54,131
- Other debts +€10,385
up €10,385 (+24.7%), from €41,987 to €52,372
- Tax, wage and social debts +€9,123
up €9,123 (+85.9%), from €10,619 to €19,741
of which Taxes: +€4,838
- Staff costs +€29,459
up €29,459 (+21.3%), from €138,406 to €167,865
- Other operating charges -€24,908
down €24,908 (-76.9%), from €32,392 to €7,484
- Gross operating margin -€23,427
down €23,427 (-8.3%), from €282,338 to €258,911
- Depreciation +€9,598
up €9,598 (+17.7%), from €54,217 to €63,815
- Taxes -€6,543
down €6,543 (-66.9%), from €9,781 to €3,238
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 | €724,720 | €881,231 | +€156,512 | +21.6% |
| Fixed assets | 21/28 | €505,370 | €568,775 | +€63,405 | +12.5% |
| Tangible fixed assets | 22/27 | €503,661 | €567,066 | +€63,405 | +12.6% |
| Land and buildings | 22 | €387,947 | €368,752 | -€19,195 | -4.9% |
| Plant, machinery and equipment | 23 | €100,365 | €147,831 | +€47,466 | +47.3% |
| Furniture and vehicles | 24 | €15,349 | €39,983 | +€24,634 | +160.5% |
| Assets under construction and advance payments | 27 | - | €10,500 | +€10,500 | |
| Financial fixed assets | 28 | €1,709 | €1,709 | = | 0.0% |
| Current assets | 29/58 | €219,349 | €312,456 | +€93,107 | +42.4% |
| Stocks and contracts in progress | 3 | €60,390 | €67,377 | +€6,988 | +11.6% |
| Stocks | 30/36 | €56,137 | €63,692 | +€7,555 | +13.5% |
| Contracts in progress | 37 | €4,253 | €3,685 | -€568 | -13.3% |
| Amounts receivable within one year | 40/41 | €137,292 | €196,408 | +€59,116 | +43.1% |
| Trade receivables | 40 | €136,517 | €195,427 | +€58,910 | +43.2% |
| Other amounts receivable | 41 | €775 | €981 | +€206 | +26.6% |
| Cash at bank and in hand | 54/58 | €20,150 | €45,619 | +€25,469 | +126.4% |
| Deferred charges and accrued income | 490/1 | €1,518 | €3,053 | +€1,535 | +101.1% |
| Total equity and liabilities | 10/49 | €724,720 | €881,231 | +€156,512 | +21.6% |
| Equity | 10/15 | €446,604 | €455,540 | +€8,936 | +2.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €277,363 | €277,363 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,600 | €2,600 | = | 0.0% |
| Distributable reserves | 133 | €274,763 | €274,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,759 | -€41,823 | +€8,936 | +17.6% |
| Amounts payable | 17/49 | €278,116 | €425,691 | +€147,575 | +53.1% |
| Amounts payable after more than one year | 17 | €183,604 | €238,625 | +€55,021 | +30.0% |
| Financial debts | 170/4 | €183,604 | €238,625 | +€55,021 | +30.0% |
| Amounts payable within one year | 42/48 | €93,757 | €187,066 | +€93,309 | +99.5% |
| Current portion of amounts payable after more than one year | 42 | €39,510 | €54,131 | +€14,621 | +37.0% |
| Trade debts | 44 | €1,641 | €60,822 | +€59,181 | +3606.4% |
| Suppliers | 440/4 | €1,641 | €60,822 | +€59,181 | +3606.4% |
| Taxes, remuneration and social security | 45 | €10,619 | €19,741 | +€9,123 | +85.9% |
| Taxes | 450/3 | €5,822 | €10,660 | +€4,838 | +83.1% |
| Remuneration and social security | 454/9 | €4,797 | €9,081 | +€4,284 | +89.3% |
| Other amounts payable | 47/48 | €41,987 | €52,372 | +€10,385 | +24.7% |
| Accrued charges and deferred income | 492/3 | €755 | - | -€755 | |
| Remuneration, social security and pensions | 62 | €138,406 | €167,865 | +€29,459 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,217 | €63,815 | +€9,598 | +17.7% |
| Other operating charges | 640/8 | €32,392 | €7,484 | -€24,908 | -76.9% |
| Gross operating margin | 9900 | €282,338 | €258,911 | -€23,427 | -8.3% |
| Operating profit (loss) | 9901 | €57,322 | €19,747 | -€37,575 | -65.6% |
| Financial income | 75/76B | €3,646 | €583 | -€3,063 | -84.0% |
| Recurring financial income | 75 | €3,646 | €583 | -€3,063 | -84.0% |
| Financial charges | 65/66B | €10,307 | €8,156 | -€2,151 | -20.9% |
| Recurring financial charges | 65 | €10,307 | €8,156 | -€2,151 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €50,660 | €12,174 | -€38,487 | -76.0% |
| Income taxes | 67/77 | €9,781 | €3,238 | -€6,543 | -66.9% |
| Profit (loss) for the period | 9904 | €40,880 | €8,936 | -€31,944 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,880 | €8,936 | -€31,944 | -78.1% |
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 11 October 2026 via checked.be.