AMWO: 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.
AMWO
Largest movements
- Cash -€25,481
down €25,481 (-26.6%), from €95,878 to €70,397
mainly Tax, wage and social debts (-€65,194) and Debts after one year (-€45,471)
- Receivables within one year -€24,149
down €24,149 (-9.3%), from €259,486 to €235,337
of which Trade receivables: -€24,149
- Tangible fixed assets +€12,919
up €12,919 (+3.0%), from €425,598 to €438,517
- Reserves +€95,000
up €95,000 (+18.1%), from €525,000 to €620,000
- Tax, wage and social debts -€65,194
down €65,194 (-56.1%), from €116,234 to €51,040
- Debts after one year -€45,471
down €45,471 (-12.5%), from €363,850 to €318,379
- Other debts -€21,000
down €21,000 (-11.0%), from €191,445 to €170,445
- Trade debts -€18,605
down €18,605 (-99.9%), from €18,616 to €11
- Gross operating margin -€39,568
down €39,568 (-19.7%), from €200,716 to €161,148
- Taxes -€11,705
down €11,705 (-30.8%), from €38,018 to €26,313
- Financial charges +€7,811
up €7,811 (+45.3%), from €17,231 to €25,042
- Depreciation +€4,144
up €4,144 (+37.9%), from €10,922 to €15,066
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 | €1,283,212 | €1,259,001 | -€24,211 | -1.9% |
| Fixed assets | 21/28 | €927,848 | €940,767 | +€12,919 | +1.4% |
| Tangible fixed assets | 22/27 | €425,598 | €438,517 | +€12,919 | +3.0% |
| Land and buildings | 22 | €425,598 | €431,803 | +€6,205 | +1.5% |
| Plant, machinery and equipment | 23 | - | €2,302 | +€2,302 | |
| Furniture and vehicles | 24 | - | €4,412 | +€4,412 | |
| Financial fixed assets | 28 | €502,250 | €502,250 | = | 0.0% |
| Current assets | 29/58 | €355,364 | €318,234 | -€37,130 | -10.4% |
| Amounts receivable within one year | 40/41 | €259,486 | €235,337 | -€24,149 | -9.3% |
| Trade receivables | 40 | €183,869 | €159,720 | -€24,149 | -13.1% |
| Other amounts receivable | 41 | €75,617 | €75,617 | = | 0.0% |
| Current investments | 50/53 | - | €12,500 | +€12,500 | |
| Cash at bank and in hand | 54/58 | €95,878 | €70,397 | -€25,481 | -26.6% |
| Total equity and liabilities | 10/49 | €1,283,212 | €1,259,001 | -€24,211 | -1.9% |
| Equity | 10/15 | €550,583 | €645,088 | +€94,504 | +17.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €525,000 | €620,000 | +€95,000 | +18.1% |
| Distributable reserves | 133 | €525,000 | €620,000 | +€95,000 | +18.1% |
| Profit (loss) carried forward | 14 | €583 | €88 | -€496 | -85.0% |
| Amounts payable | 17/49 | €732,629 | €613,913 | -€118,715 | -16.2% |
| Amounts payable after more than one year | 17 | €363,850 | €318,379 | -€45,471 | -12.5% |
| Financial debts | 170/4 | €363,850 | €318,379 | -€45,471 | -12.5% |
| Amounts payable within one year | 42/48 | €353,175 | €266,968 | -€86,206 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €26,879 | €45,471 | +€18,593 | +69.2% |
| Trade debts | 44 | €18,616 | €11 | -€18,605 | -99.9% |
| Suppliers | 440/4 | €18,616 | €11 | -€18,605 | -99.9% |
| Taxes, remuneration and social security | 45 | €116,234 | €51,040 | -€65,194 | -56.1% |
| Taxes | 450/3 | €116,234 | €51,040 | -€65,194 | -56.1% |
| Other amounts payable | 47/48 | €191,445 | €170,445 | -€21,000 | -11.0% |
| Accrued charges and deferred income | 492/3 | €15,604 | €28,566 | +€12,962 | +83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,922 | €15,066 | +€4,144 | +37.9% |
| Other operating charges | 640/8 | €540 | €528 | -€13 | -2.3% |
| Gross operating margin | 9900 | €200,716 | €161,148 | -€39,568 | -19.7% |
| Operating profit (loss) | 9901 | €189,254 | €145,554 | -€43,699 | -23.1% |
| Financial income | 75/76B | - | €305 | +€305 | |
| Recurring financial income | 75 | - | €305 | +€305 | |
| Financial charges | 65/66B | €17,231 | €25,042 | +€7,811 | +45.3% |
| Recurring financial charges | 65 | €17,231 | €25,042 | +€7,811 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €172,022 | €120,817 | -€51,205 | -29.8% |
| Income taxes | 67/77 | €38,018 | €26,313 | -€11,705 | -30.8% |
| Profit (loss) for the period | 9904 | €134,004 | €94,504 | -€39,500 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €134,004 | €94,504 | -€39,500 | -29.5% |
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 4 October 2026 via checked.be.