A.G. Projects: 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
A.G. Projects
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,987
2024 · €1,803+€8,184
Equity
€158,982
2024 · €148,996+€9,987
Cash
€1,782
2024 · €2,867-€1,085
Balance sheet total
€1.3m
2024 · €1.3m+€23,616
Largest movements
Assets
- Stocks and contracts +€29,625
up €29,625 (+2.7%), from €1.1m to €1.1m
Equity and liabilities
- Other debts +€21,000
up €21,000 (+6.8%), from €307,088 to €328,088
Income statement
- Gross operating margin +€12,226
up €12,226 (+80.3%), from €15,234 to €27,460
- Taxes +€4,392
up €4,392 (+537%), from €818 to €5,210
- Depreciation -€759
down €759 (-11.7%), from €6,464 to €5,705
- Financial charges +€431
up €431 (+37.0%), from €1,166 to €1,597
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
€1,803
Gross operating margin
+€12,226
Depreciation
+€759
Other operating charges
+€23
Financial income
-€1
Financial charges
-€431
Taxes
-€4,392
Result 2025
€9,987
raises the resultlowers the result
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
+€7,531
Investment
€0
Financing
-€8,616
Cash 2024
€2,867
From operations (derived)
+€7,531
Net result for the year
+€9,987
Depreciation
+€5,705
Stocks and contracts
-€29,625
Receivables within one year
-€781
Trade debts
+€1,985
Tax, wage and social debts
-€739
Other debts
+€21,000
Financing
-€8,616
Current portion of long-term debt
-€8,616
Cash 2025
€1,782
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,280,335 | €1,303,951 | +€23,616 | +1.8% |
| Fixed assets | 21/28 | €160,733 | €155,029 | -€5,705 | -3.5% |
| Tangible fixed assets | 22/27 | €159,733 | €154,029 | -€5,705 | -3.6% |
| Land and buildings | 22 | €155,950 | €151,528 | -€4,423 | -2.8% |
| Plant, machinery and equipment | 23 | €3,783 | €2,501 | -€1,282 | -33.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,119,602 | €1,148,923 | +€29,321 | +2.6% |
| Stocks and contracts in progress | 3 | €1,100,813 | €1,130,438 | +€29,625 | +2.7% |
| Stocks | 30/36 | €1,100,813 | €1,130,438 | +€29,625 | +2.7% |
| Amounts receivable within one year | 40/41 | €15,921 | €16,702 | +€781 | +4.9% |
| Trade receivables | 40 | €13,310 | €14,520 | +€1,210 | +9.1% |
| Other amounts receivable | 41 | €2,611 | €2,182 | -€429 | -16.4% |
| Cash at bank and in hand | 54/58 | €2,867 | €1,782 | -€1,085 | -37.8% |
| Total equity and liabilities | 10/49 | €1,280,335 | €1,303,951 | +€23,616 | +1.8% |
| Equity | 10/15 | €148,996 | €158,982 | +€9,987 | +6.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €86,996 | €96,982 | +€9,987 | +11.5% |
| Distributable reserves | 133 | €86,996 | €96,982 | +€9,987 | +11.5% |
| Amounts payable | 17/49 | €1,131,340 | €1,144,969 | +€13,629 | +1.2% |
| Amounts payable within one year | 42/48 | €1,130,086 | €1,143,716 | +€13,629 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €14,570 | €5,954 | -€8,616 | -59.1% |
| Financial debts | 43 | €800,000 | €800,000 | = | 0.0% |
| Credit institutions | 430/8 | €800,000 | €800,000 | = | 0.0% |
| Trade debts | 44 | €3,297 | €5,281 | +€1,985 | +60.2% |
| Suppliers | 440/4 | €3,297 | €5,281 | +€1,985 | +60.2% |
| Taxes, remuneration and social security | 45 | €5,132 | €4,393 | -€739 | -14.4% |
| Taxes | 450/3 | €5,132 | €4,393 | -€739 | -14.4% |
| Other amounts payable | 47/48 | €307,088 | €328,088 | +€21,000 | +6.8% |
| Accrued charges and deferred income | 492/3 | €1,253 | €1,253 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,464 | €5,705 | -€759 | -11.7% |
| Other operating charges | 640/8 | €4,985 | €4,962 | -€23 | -0.5% |
| Gross operating margin | 9900 | €15,234 | €27,460 | +€12,226 | +80.3% |
| Operating profit (loss) | 9901 | €3,785 | €16,793 | +€13,008 | +344% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,166 | €1,597 | +€431 | +37.0% |
| Recurring financial charges | 65 | €1,166 | €1,597 | +€431 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €2,620 | €15,197 | +€12,576 | +480% |
| Income taxes | 67/77 | €818 | €5,210 | +€4,392 | +537% |
| Profit (loss) for the period | 9904 | €1,803 | €9,987 | +€8,184 | +454% |
| Profit (loss) for the period to be appropriated | 9905 | €1,803 | €9,987 | +€8,184 | +454% |
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.