S.L. AMEL: 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.
S.L. AMEL
Largest movements
- Receivables within one year -€29,961
down €29,961 (-9.1%), from €329,642 to €299,681
of which Trade receivables: -€23,919
- Tangible fixed assets -€14,568
down €14,568 (-49.2%), from €29,638 to €15,070
of which Furniture and vehicles: -€9,483
- Trade debts -€27,657
down €27,657 (-53.9%), from €51,321 to €23,664
- Short-term financial debts +€21,494
up €21,494 (+10.9%), from €196,295 to €217,789
of which Credit institutions: +€12,494
- Debts after one year -€16,712
down €16,712 (-51.2%), from €32,614 to €15,902
- Current portion of long-term debt -€16,073
no longer reported in 2025 (was €16,073)
- Other debts -€12,692
down €12,692 (-3.3%), from €384,085 to €371,393
- Gross operating margin -€18,929
down €18,929 (-9.1%), from €208,040 to €189,112
- Staff costs -€6,954
down €6,954 (-4.4%), from €158,864 to €151,910
- Financial charges -€4,573
down €4,573 (-22.5%), from €20,338 to €15,765
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 | €644,573 | €600,348 | -€44,225 | -6.9% |
| Fixed assets | 21/28 | €29,638 | €15,070 | -€14,568 | -49.2% |
| Tangible fixed assets | 22/27 | €29,638 | €15,070 | -€14,568 | -49.2% |
| Plant, machinery and equipment | 23 | €7,208 | €2,123 | -€5,086 | -70.6% |
| Furniture and vehicles | 24 | €22,430 | €12,947 | -€9,483 | -42.3% |
| Current assets | 29/58 | €614,935 | €585,278 | -€29,656 | -4.8% |
| Stocks and contracts in progress | 3 | €279,208 | €280,975 | +€1,767 | +0.6% |
| Stocks | 30/36 | €186,211 | €180,050 | -€6,161 | -3.3% |
| Contracts in progress | 37 | €92,997 | €100,925 | +€7,928 | +8.5% |
| Amounts receivable within one year | 40/41 | €329,642 | €299,681 | -€29,961 | -9.1% |
| Trade receivables | 40 | €121,476 | €97,557 | -€23,919 | -19.7% |
| Other amounts receivable | 41 | €208,166 | €202,124 | -€6,042 | -2.9% |
| Cash at bank and in hand | 54/58 | €4,179 | €2,713 | -€1,466 | -35.1% |
| Deferred charges and accrued income | 490/1 | €1,906 | €1,910 | +€3 | +0.2% |
| Total equity and liabilities | 10/49 | €644,573 | €600,348 | -€44,225 | -6.9% |
| Equity | 10/15 | -€60,544 | -€53,195 | +€7,349 | +12.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €20,460 | €20,460 | = | 0.0% |
| Issued capital | 100 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,004 | -€73,655 | +€7,349 | +9.1% |
| Amounts payable | 17/49 | €705,116 | €653,543 | -€51,574 | -7.3% |
| Amounts payable after more than one year | 17 | €32,614 | €15,902 | -€16,712 | -51.2% |
| Financial debts | 170/4 | €32,614 | €15,902 | -€16,712 | -51.2% |
| Amounts payable within one year | 42/48 | €672,503 | €637,641 | -€34,862 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €16,073 | - | -€16,073 | |
| Financial debts | 43 | €196,295 | €217,789 | +€21,494 | +10.9% |
| Credit institutions | 430/8 | €5,295 | €17,789 | +€12,494 | +236% |
| Other loans | 439 | €191,000 | €200,000 | +€9,000 | +4.7% |
| Trade debts | 44 | €51,321 | €23,664 | -€27,657 | -53.9% |
| Suppliers | 440/4 | €51,321 | €23,664 | -€27,657 | -53.9% |
| Taxes, remuneration and social security | 45 | €24,729 | €24,795 | +€66 | +0.3% |
| Taxes | 450/3 | €135 | €138 | +€3 | +2.3% |
| Remuneration and social security | 454/9 | €24,594 | €24,656 | +€63 | +0.3% |
| Other amounts payable | 47/48 | €384,085 | €371,393 | -€12,692 | -3.3% |
| Remuneration, social security and pensions | 62 | €158,864 | €151,910 | -€6,954 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,485 | €13,152 | -€1,332 | -9.2% |
| Other operating charges | 640/8 | €1,364 | €806 | -€557 | -40.9% |
| Gross operating margin | 9900 | €208,040 | €189,112 | -€18,929 | -9.1% |
| Operating profit (loss) | 9901 | €33,328 | €23,244 | -€10,085 | -30.3% |
| Financial income | 75/76B | €517 | €337 | -€181 | -34.9% |
| Recurring financial income | 75 | €517 | €337 | -€181 | -34.9% |
| Financial charges | 65/66B | €20,338 | €15,765 | -€4,573 | -22.5% |
| Recurring financial charges | 65 | €20,338 | €15,765 | -€4,573 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €13,507 | €7,815 | -€5,692 | -42.1% |
| Income taxes | 67/77 | €135 | €466 | +€331 | +246% |
| Profit (loss) for the period | 9904 | €13,372 | €7,349 | -€6,023 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,372 | €7,349 | -€6,023 | -45.0% |
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 20 October 2026 via checked.be.