A.G.S.E.: 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.
A.G.S.E.
Largest movements
- Cash -€16,460
down €16,460 (-47.0%), from €35,049 to €18,589
mainly Net result for the year (-€26,123) and Investment in fixed assets (net) (-€10,310)
- Tangible fixed assets +€7,410
up €7,410 (+307.0%), from €2,414 to €9,824
- Profit (loss) carried forward -€26,123
down €26,123 (-32.9%), from -€79,289 to -€105,412
- Other debts +€18,408
up €18,408 (+2.7%), from €673,845 to €692,253
- Depreciation +€1,300
up €1,300 (+69.9%), from €1,859 to €3,159
- Financial charges +€856
up €856 (+5.3%), from €16,056 to €16,911
- Gross operating margin -€453
down €453 (-8.2%), from -€5,533 to -€5,986
- Other operating charges -€242
down €242 (-78.6%), from €307 to €66
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 | €610,506 | €603,196 | -€7,310 | -1.2% |
| Formation expenses | 20 | €259 | - | -€259 | |
| Fixed assets | 21/28 | €575,198 | €582,608 | +€7,410 | +1.3% |
| Tangible fixed assets | 22/27 | €2,414 | €9,824 | +€7,410 | +307.0% |
| Furniture and vehicles | 24 | €2,414 | €9,824 | +€7,410 | +307.0% |
| Financial fixed assets | 28 | €572,784 | €572,784 | = | 0.0% |
| Current assets | 29/58 | €35,049 | €20,589 | -€14,460 | -41.3% |
| Amounts receivable within one year | 40/41 | - | €2,000 | +€2,000 | |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €35,049 | €18,589 | -€16,460 | -47.0% |
| Total equity and liabilities | 10/49 | €610,506 | €603,196 | -€7,310 | -1.2% |
| Equity | 10/15 | -€64,289 | -€90,412 | -€26,123 | -40.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,289 | -€105,412 | -€26,123 | -32.9% |
| Amounts payable | 17/49 | €674,795 | €693,608 | +€18,813 | +2.8% |
| Amounts payable within one year | 42/48 | €674,795 | €693,608 | +€18,813 | +2.8% |
| Trade debts | 44 | €950 | €1,355 | +€405 | +42.6% |
| Suppliers | 440/4 | €950 | €1,355 | +€405 | +42.6% |
| Other amounts payable | 47/48 | €673,845 | €692,253 | +€18,408 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €3,159 | +€1,300 | +69.9% |
| Other operating charges | 640/8 | €307 | €66 | -€242 | -78.6% |
| Gross operating margin | 9900 | -€5,533 | -€5,986 | -€453 | -8.2% |
| Operating profit (loss) | 9901 | -€7,700 | -€9,211 | -€1,511 | -19.6% |
| Financial charges | 65/66B | €16,056 | €16,911 | +€856 | +5.3% |
| Recurring financial charges | 65 | €16,056 | €16,911 | +€856 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,756 | -€26,123 | -€2,367 | -10.0% |
| Profit (loss) for the period | 9904 | -€23,756 | -€26,123 | -€2,367 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,756 | -€26,123 | -€2,367 | -10.0% |
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 6 October 2026 via checked.be.