ASSET MANAGEMENT GROUP: 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.
What changed
ASSET MANAGEMENT GROUP
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€234,554
2024 · -€184,929-€49,625
Equity
€899,597
2024 · €1.1m-€234,554
Cash
€24,426
2024 · €20,299+€4,126
Balance sheet total
€9.5m
2024 · €8.1m+€1.4m
Largest movements
Assets
- Financial fixed assets +€1.3m
up €1.3m (+153,534%), from €863 to €1.3m
- Tangible fixed assets +€248,710
up €248,710 (+3.2%), from €7.7m to €7.9m
of which Plant, machinery and equipment: +€242,502
- Receivables after one year -€200,745
down €200,745 (-100%), from €200,745 to €0
of which Other amounts receivable: -€200,745
Equity and liabilities
- Debts after one year +€2.0m
up €2.0m (+32.0%), from €6.1m to €8.1m
of which Other amounts payable: +€2.1m
- Trade debts -€360,279
down €360,279 (-70.4%), from €511,931 to €151,652
- Profit (loss) carried forward -€234,554
down €234,554 (-23.2%), from -€1.0m to -€1.2m
Income statement
- Gross operating margin +€97,218
up €97,218 (+37.5%), from €259,225 to €356,443
- Depreciation +€13,531
up €13,531 (+4.8%), from €280,370 to €293,901
- Other operating charges +€13,146
up €13,146 (+29.2%), from €44,966 to €58,113
- Staff costs +€7,084
up €7,084 (+19.9%), from €35,553 to €42,637
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.
Result 2024
-€184,929
Gross operating margin
+€97,218
Staff costs
-€7,084
Depreciation
-€13,531
Other operating charges
-€13,146
Other operating items
-€112,206
Financial income
-€2,543
Financial charges
+€1,667
Result 2025
-€234,554
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
-€101,414
Investment
-€1.8m
Financing
+€1.9m
Cash 2024
€20,299
From operations (derived)
-€101,414
Net result for the year
-€234,554
Depreciation
+€293,901
Receivables after one year
+€200,745
Receivables within one year
-€28,089
Smaller working-capital items
+€3,600
Trade debts
-€360,279
Advances received
+€6,136
Accrued charges and deferred income
+€17,127
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
+€1.9m
Debts after one year
+€2.0m
Current portion of long-term debt
-€14,482
Cash 2025
€24,426
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,108,474 | €9,484,007 | +€1.4m | +17.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,696,262 | €9,239,966 | +€1.5m | +20.1% |
| Intangible fixed assets | 21 | €30,006 | €0 | -€30,006 | -100% |
| Tangible fixed assets | 22/27 | €7,665,393 | €7,914,103 | +€248,710 | +3.2% |
| Land and buildings | 22 | €7,622,261 | €7,629,223 | +€6,961 | +0.1% |
| Plant, machinery and equipment | 23 | €41,044 | €283,547 | +€242,502 | +591% |
| Furniture and vehicles | 24 | €2,087 | €1,334 | -€753 | -36.1% |
| Financial fixed assets | 28 | €863 | €1,325,863 | +€1.3m | +153,534% |
| Current assets | 29/58 | €412,212 | €244,041 | -€168,171 | -40.8% |
| Amounts receivable after more than one year | 29 | €200,745 | €0 | -€200,745 | -100% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €200,745 | €0 | -€200,745 | -100% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €182,808 | €210,897 | +€28,089 | +15.4% |
| Trade receivables | 40 | €163,304 | €148,483 | -€14,820 | -9.1% |
| Other amounts receivable | 41 | €19,504 | €62,414 | +€42,909 | +220% |
| Cash at bank and in hand | 54/58 | €20,299 | €24,426 | +€4,126 | +20.3% |
| Deferred charges and accrued income | 490/1 | €8,360 | €8,719 | +€359 | +4.3% |
| Total equity and liabilities | 10/49 | €8,108,474 | €9,484,007 | +€1.4m | +17.0% |
| Equity | 10/15 | €1,134,151 | €899,597 | -€234,554 | -20.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,896,606 | €1,896,606 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,012,455 | -€1,247,009 | -€234,554 | -23.2% |
| Amounts payable | 17/49 | €6,974,323 | €8,584,410 | +€1.6m | +23.1% |
| Amounts payable after more than one year | 17 | €6,119,570 | €8,077,198 | +€2.0m | +32.0% |
| Financial debts | 170/4 | €3,470,633 | €3,302,047 | -€168,586 | -4.9% |
| Other amounts payable | 178/9 | €2,648,937 | €4,775,151 | +€2.1m | +80.3% |
| Amounts payable within one year | 42/48 | €854,378 | €489,711 | -€364,667 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | €183,069 | €168,586 | -€14,482 | -7.9% |
| Trade debts | 44 | €511,931 | €151,652 | -€360,279 | -70.4% |
| Suppliers | 440/4 | €511,931 | €151,652 | -€360,279 | -70.4% |
| Advances received on contracts in progress | 46 | €17,884 | €24,019 | +€6,136 | +34.3% |
| Taxes, remuneration and social security | 45 | €6,200 | €5,838 | -€362 | -5.8% |
| Taxes | 450/3 | €548 | €0 | -€548 | -100% |
| Remuneration and social security | 454/9 | €5,652 | €5,838 | +€186 | +3.3% |
| Other amounts payable | 47/48 | €135,294 | €139,615 | +€4,320 | +3.2% |
| Accrued charges and deferred income | 492/3 | €375 | €17,502 | +€17,127 | +4,567% |
| Remuneration, social security and pensions | 62 | €35,553 | €42,637 | +€7,084 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,370 | €293,901 | +€13,531 | +4.8% |
| Other operating charges | 640/8 | €44,966 | €58,113 | +€13,146 | +29.2% |
| Non-recurring operating charges | 66A | €14,444 | €126,650 | +€112,206 | +777% |
| Gross operating margin | 9900 | €259,225 | €356,443 | +€97,218 | +37.5% |
| Operating profit (loss) | 9901 | -€116,109 | -€164,857 | -€48,749 | -42.0% |
| Financial income | 75/76B | €2,601 | €57 | -€2,543 | -97.8% |
| Recurring financial income | 75 | €2,591 | €57 | -€2,533 | -97.8% |
| Non-recurring financial income | 76B | €10 | - | -€10 | |
| Financial charges | 65/66B | €71,421 | €69,754 | -€1,667 | -2.3% |
| Recurring financial charges | 65 | €71,421 | €69,754 | -€1,667 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€184,929 | -€234,554 | -€49,625 | -26.8% |
| Profit (loss) for the period | 9904 | -€184,929 | -€234,554 | -€49,625 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,929 | -€234,554 | -€49,625 | -26.8% |
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 30 October 2026 via checked.be.