IAMAM: 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.
IAMAM
Largest movements
- Stocks and contracts -€19,361
down €19,361 (-4.0%), from €485,122 to €465,761
- Cash +€9,523
up €9,523 (+97.9%), from €9,724 to €19,247
mainly Other debts (+€24,554) and Net result for the year (+€20,733)
- Receivables within one year +€9,417
up €9,417 (+77.8%), from €12,100 to €21,517
of which Other amounts receivable: +€7,005
- Debts after one year -€32,906
down €32,906 (-17.5%), from €188,518 to €155,612
- Other debts +€24,554
up €24,554 (+11.6%), from €211,662 to €236,217
- Reserves +€20,733
up €20,733 (+22.6%), from €91,619 to €112,352
- Trade debts -€7,871
down €7,871 (-84.0%), from €9,375 to €1,504
- Current portion of long-term debt -€7,108
down €7,108 (-17.8%), from €40,014 to €32,906
- Gross operating margin +€33,839
up €33,839 (+164%), from €20,594 to €54,434
- Taxes +€2,557
up €2,557 (+27.2%), from €9,388 to €11,945
- Financial charges +€2,342
up €2,342 (+15.8%), from €14,871 to €17,213
- Depreciation +€578
up €578 (+25.4%), from €2,279 to €2,857
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €619,903 | €622,670 | +€2,767 | +0.4% |
| Fixed assets | 21/28 | €111,898 | €114,914 | +€3,016 | +2.7% |
| Tangible fixed assets | 22/27 | €11,348 | €14,364 | +€3,016 | +26.6% |
| Furniture and vehicles | 24 | €301 | - | -€301 | |
| Other tangible fixed assets | 26 | €11,047 | €14,364 | +€3,317 | +30.0% |
| Financial fixed assets | 28 | €100,550 | €100,550 | = | 0.0% |
| Current assets | 29/58 | €508,005 | €507,756 | -€249 | 0.0% |
| Stocks and contracts in progress | 3 | €485,122 | €465,761 | -€19,361 | -4.0% |
| Stocks | 30/36 | €485,122 | €465,761 | -€19,361 | -4.0% |
| Amounts receivable within one year | 40/41 | €12,100 | €21,517 | +€9,417 | +77.8% |
| Trade receivables | 40 | €12,100 | €14,512 | +€2,412 | +19.9% |
| Other amounts receivable | 41 | - | €7,005 | +€7,005 | |
| Cash at bank and in hand | 54/58 | €9,724 | €19,247 | +€9,523 | +97.9% |
| Deferred charges and accrued income | 490/1 | €1,059 | €1,231 | +€172 | +16.2% |
| Total equity and liabilities | 10/49 | €619,903 | €622,670 | +€2,767 | +0.4% |
| Equity | 10/15 | €141,619 | €162,352 | +€20,733 | +14.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €91,619 | €112,352 | +€20,733 | +22.6% |
| Distributable reserves | 133 | €91,619 | €112,352 | +€20,733 | +22.6% |
| Amounts payable | 17/49 | €478,284 | €460,318 | -€17,966 | -3.8% |
| Amounts payable after more than one year | 17 | €188,518 | €155,612 | -€32,906 | -17.5% |
| Financial debts | 170/4 | €188,518 | €155,612 | -€32,906 | -17.5% |
| Amounts payable within one year | 42/48 | €285,586 | €297,979 | +€12,393 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €40,014 | €32,906 | -€7,108 | -17.8% |
| Trade debts | 44 | €9,375 | €1,504 | -€7,871 | -84.0% |
| Suppliers | 440/4 | €9,375 | €1,504 | -€7,871 | -84.0% |
| Taxes, remuneration and social security | 45 | €24,535 | €27,352 | +€2,817 | +11.5% |
| Taxes | 450/3 | €22,869 | €25,475 | +€2,606 | +11.4% |
| Remuneration and social security | 454/9 | €1,666 | €1,878 | +€212 | +12.7% |
| Other amounts payable | 47/48 | €211,662 | €236,217 | +€24,554 | +11.6% |
| Accrued charges and deferred income | 492/3 | €4,180 | €6,728 | +€2,548 | +60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,279 | €2,857 | +€578 | +25.4% |
| Other operating charges | 640/8 | €1,170 | €1,686 | +€516 | +44.1% |
| Gross operating margin | 9900 | €20,594 | €54,434 | +€33,839 | +164% |
| Operating profit (loss) | 9901 | €17,146 | €49,890 | +€32,745 | +191% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €14,871 | €17,213 | +€2,342 | +15.8% |
| Recurring financial charges | 65 | €14,871 | €17,213 | +€2,342 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €2,275 | €32,677 | +€30,402 | +1,336% |
| Income taxes | 67/77 | €9,388 | €11,945 | +€2,557 | +27.2% |
| Profit (loss) for the period | 9904 | -€7,112 | €20,733 | +€27,845 | |
| Transfer from tax-exempt reserves | 789 | €24,909 | - | -€24,909 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,797 | €20,733 | +€2,936 | +16.5% |
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 14 October 2026 via checked.be.