AAGE: 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.
AAGE
Largest movements
- Cash +€405,455
up €405,455 (+44.8%), from €904,589 to €1.3m
mainly Net result for the year (+€606,041) and Depreciation (+€71,940)
- Receivables after one year +€183,347
up €183,347 (+3.6%), from €5.1m to €5.3m
- Reserves +€1.4m
up €1.4m (+50.6%), from €2.7m to €4.1m
of which Distributable reserves: +€1.4m
- Profit (loss) carried forward -€760,274
down €760,274 (-100%), from €760,274 to €0
- Tax, wage and social debts -€135,400
down €135,400 (-28.0%), from €482,813 to €347,413
- Gross operating margin -€179,702
down €179,702 (-15.9%), from €1.1m to €951,060
- Financial income -€146,737
down €146,737 (-32.8%), from €447,297 to €300,561
- Financial charges -€112,423
down €112,423 (-29.1%), from €386,737 to €274,314
- Taxes -€63,344
down €63,344 (-22.2%), from €284,869 to €221,525
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 | €11,870,808 | €12,340,437 | +€469,628 | +4.0% |
| Fixed assets | 21/28 | €5,595,217 | €5,523,277 | -€71,940 | -1.3% |
| Tangible fixed assets | 22/27 | €5,595,217 | €5,523,277 | -€71,940 | -1.3% |
| Land and buildings | 22 | €5,595,217 | €5,523,277 | -€71,940 | -1.3% |
| Current assets | 29/58 | €6,275,592 | €6,817,160 | +€541,568 | +8.6% |
| Amounts receivable after more than one year | 29 | €5,103,982 | €5,287,329 | +€183,347 | +3.6% |
| Trade receivables | 290 | €5,103,982 | €5,287,329 | +€183,347 | +3.6% |
| Amounts receivable within one year | 40/41 | €57,069 | €45,831 | -€11,238 | -19.7% |
| Trade receivables | 40 | €57,069 | €45,818 | -€11,251 | -19.7% |
| Other amounts receivable | 41 | €0 | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €904,589 | €1,310,044 | +€405,455 | +44.8% |
| Deferred charges and accrued income | 490/1 | €209,952 | €173,957 | -€35,995 | -17.1% |
| Total equity and liabilities | 10/49 | €11,870,808 | €12,340,437 | +€469,628 | +4.0% |
| Equity | 10/15 | €3,582,359 | €4,188,400 | +€606,041 | +16.9% |
| Contributions | 10/11 | €122,000 | €122,000 | = | 0.0% |
| Capital | 10 | €122,000 | €122,000 | = | 0.0% |
| Issued capital | 100 | €122,000 | €122,000 | = | 0.0% |
| Reserves | 13 | €2,700,086 | €4,066,400 | +€1.4m | +50.6% |
| Non-distributable reserves | 130/1 | €12,200 | €12,200 | = | 0.0% |
| Legal reserve | 130 | €12,200 | €12,200 | = | 0.0% |
| Distributable reserves | 133 | €2,687,886 | €4,054,200 | +€1.4m | +50.8% |
| Profit (loss) carried forward | 14 | €760,274 | €0 | -€760,274 | -100% |
| Amounts payable | 17/49 | €8,288,449 | €8,152,036 | -€136,413 | -1.6% |
| Amounts payable within one year | 42/48 | €8,095,215 | €7,948,624 | -€146,590 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €7,600,000 | €7,600,000 | = | 0.0% |
| Trade debts | 44 | €12,402 | €1,212 | -€11,190 | -90.2% |
| Suppliers | 440/4 | €12,402 | €1,212 | -€11,190 | -90.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €482,813 | €347,413 | -€135,400 | -28.0% |
| Taxes | 450/3 | €482,813 | €347,413 | -€135,400 | -28.0% |
| Accrued charges and deferred income | 492/3 | €193,234 | €203,412 | +€10,178 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,980 | €71,940 | -€39 | -0.1% |
| Other operating charges | 640/8 | €74,199 | €77,800 | +€3,601 | +4.9% |
| Gross operating margin | 9900 | €1,130,762 | €951,060 | -€179,702 | -15.9% |
| Operating profit (loss) | 9901 | €984,583 | €801,319 | -€183,264 | -18.6% |
| Financial income | 75/76B | €447,297 | €300,561 | -€146,737 | -32.8% |
| Recurring financial income | 75 | €447,297 | €300,561 | -€146,737 | -32.8% |
| Financial charges | 65/66B | €386,737 | €274,314 | -€112,423 | -29.1% |
| Recurring financial charges | 65 | €386,737 | €274,314 | -€112,423 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €1,045,143 | €827,566 | -€217,577 | -20.8% |
| Income taxes | 67/77 | €284,869 | €221,525 | -€63,344 | -22.2% |
| Profit (loss) for the period | 9904 | €760,274 | €606,041 | -€154,233 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €760,274 | €606,041 | -€154,233 | -20.3% |
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 23 October 2026 via checked.be.