AG CONNECTIONS: 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.
AG CONNECTIONS
Largest movements
- Tangible fixed assets +€23,237
up €23,237 (+293%), from €7,933 to €31,170
of which Furniture and vehicles: +€19,196
- Receivables within one year -€21,501
down €21,501 (-79.0%), from €27,211 to €5,710
of which Trade receivables: -€24,738
- Cash +€3,957
up €3,957 (+807%), from €490 to €4,447
mainly Receivables within one year (+€21,501) and Current portion of long-term debt (+€6,673)
- Deferred charges and accrued income -€2,884
down €2,884 (-33.4%), from €8,637 to €5,753
- Trade debts -€10,981
down €10,981 (-54.6%), from €20,102 to €9,121
- Current portion of long-term debt +€6,673
new in 2025: €6,673
- Tax, wage and social debts +€5,293
up €5,293 (+115%), from €4,593 to €9,886
of which Remuneration and social security: +€4,585
- Debts after one year +€3,228
new in 2025: €3,228
- Reserves -€1,404
down €1,404 (-8.0%), from €17,576 to €16,172
- Staff costs +€30,753
new in 2025: €30,753
- Gross operating margin +€21,248
up €21,248 (+92.0%), from €23,094 to €44,342
- Other operating charges +€3,182
new in 2025: €3,182
- Financial charges +€2,811
up €2,811 (+6,775%), from €41 to €2,853
- Depreciation +€2,492
up €2,492 (+282%), from €884 to €3,376
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 | €44,271 | €47,080 | +€2,809 | +6.3% |
| Fixed assets | 21/28 | €7,933 | €31,170 | +€23,237 | +293% |
| Tangible fixed assets | 22/27 | €7,933 | €31,170 | +€23,237 | +293% |
| Plant, machinery and equipment | 23 | €3,615 | €7,656 | +€4,041 | +112% |
| Furniture and vehicles | 24 | €4,318 | €23,514 | +€19,196 | +445% |
| Current assets | 29/58 | €36,338 | €15,910 | -€20,428 | -56.2% |
| Amounts receivable within one year | 40/41 | €27,211 | €5,710 | -€21,501 | -79.0% |
| Trade receivables | 40 | €24,738 | - | -€24,738 | |
| Other amounts receivable | 41 | €2,473 | €5,710 | +€3,237 | +131% |
| Cash at bank and in hand | 54/58 | €490 | €4,447 | +€3,957 | +807% |
| Deferred charges and accrued income | 490/1 | €8,637 | €5,753 | -€2,884 | -33.4% |
| Total equity and liabilities | 10/49 | €44,271 | €47,080 | +€2,809 | +6.3% |
| Equity | 10/15 | €19,576 | €18,172 | -€1,404 | -7.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €17,576 | €16,172 | -€1,404 | -8.0% |
| Distributable reserves | 133 | €17,576 | €16,172 | -€1,404 | -8.0% |
| Amounts payable | 17/49 | €24,695 | €28,908 | +€4,213 | +17.1% |
| Amounts payable after more than one year | 17 | - | €3,228 | +€3,228 | |
| Financial debts | 170/4 | - | €3,228 | +€3,228 | |
| Amounts payable within one year | 42/48 | €24,695 | €25,680 | +€985 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,673 | +€6,673 | |
| Trade debts | 44 | €20,102 | €9,121 | -€10,981 | -54.6% |
| Suppliers | 440/4 | €20,102 | €9,121 | -€10,981 | -54.6% |
| Taxes, remuneration and social security | 45 | €4,593 | €9,886 | +€5,293 | +115% |
| Taxes | 450/3 | €4,593 | €5,301 | +€708 | +15.4% |
| Remuneration and social security | 454/9 | - | €4,585 | +€4,585 | |
| Remuneration, social security and pensions | 62 | - | €30,753 | +€30,753 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €884 | €3,376 | +€2,492 | +282% |
| Other operating charges | 640/8 | - | €3,182 | +€3,182 | |
| Gross operating margin | 9900 | €23,094 | €44,342 | +€21,248 | +92.0% |
| Operating profit (loss) | 9901 | €22,211 | €7,031 | -€15,180 | -68.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €41 | €2,853 | +€2,811 | +6,775% |
| Recurring financial charges | 65 | €41 | €2,853 | +€2,811 | +6,775% |
| Profit (loss) for the period before taxes | 9903 | €22,169 | €4,179 | -€17,991 | -81.2% |
| Income taxes | 67/77 | €4,593 | €5,583 | +€990 | +21.5% |
| Profit (loss) for the period | 9904 | €17,576 | -€1,404 | -€18,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,576 | -€1,404 | -€18,980 |
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 31 October 2026 via checked.be.