AG SOLUTION: 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 SOLUTION
Largest movements
- Receivables within one year +€556,387
up €556,387 (+23.3%), from €2.4m to €2.9m
of which Trade receivables: +€789,896
- Stocks and contracts +€454,973
up €454,973 (+109%), from €418,349 to €873,322
- Cash +€175,519
up €175,519 (+34.8%), from €504,472 to €679,991
mainly Other debts (+€1.3m) and Advances received (+€206,983)
- Intangible fixed assets +€140,616
up €140,616 (+60.3%), from €233,021 to €373,638
- Tangible fixed assets -€107,156
down €107,156 (-42.5%), from €252,382 to €145,225
of which Other tangible fixed assets: -€80,566
- Other debts +€1.3m
up €1.3m (+272%), from €468,348 to €1.7m
- Trade debts -€268,630
down €268,630 (-28.9%), from €929,443 to €660,813
- Advances received +€206,983
up €206,983 (+212%), from €97,770 to €304,753
- Reserves +€129,522
up €129,522 (+5.9%), from €2.2m to €2.3m
of which Distributable reserves: +€129,522
- Current portion of long-term debt -€96,539
down €96,539 (-100%), from €96,539 to €0
- Gross operating margin -€909,375
down €909,375 (-20.0%), from €4.6m to €3.6m
- Taxes -€214,447
down €214,447 (-71.1%), from €301,611 to €87,165
- Staff costs -€79,901
down €79,901 (-2.5%), from €3.1m to €3.1m
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 | €4,426,384 | €5,603,279 | +€1.2m | +26.6% |
| Fixed assets | 21/28 | €986,073 | €1,019,533 | +€33,460 | +3.4% |
| Intangible fixed assets | 21 | €233,021 | €373,638 | +€140,616 | +60.3% |
| Tangible fixed assets | 22/27 | €252,382 | €145,225 | -€107,156 | -42.5% |
| Plant, machinery and equipment | 23 | €17,059 | €6,731 | -€10,328 | -60.5% |
| Furniture and vehicles | 24 | €93,517 | €77,255 | -€16,262 | -17.4% |
| Other tangible fixed assets | 26 | €141,806 | €61,240 | -€80,566 | -56.8% |
| Financial fixed assets | 28 | €500,670 | €500,670 | = | 0.0% |
| Current assets | 29/58 | €3,440,311 | €4,583,746 | +€1.1m | +33.2% |
| Stocks and contracts in progress | 3 | €418,349 | €873,322 | +€454,973 | +109% |
| Contracts in progress | 37 | €418,349 | €873,322 | +€454,973 | +109% |
| Amounts receivable within one year | 40/41 | €2,388,715 | €2,945,102 | +€556,387 | +23.3% |
| Trade receivables | 40 | €1,811,462 | €2,601,357 | +€789,896 | +43.6% |
| Other amounts receivable | 41 | €577,254 | €343,745 | -€233,509 | -40.5% |
| Cash at bank and in hand | 54/58 | €504,472 | €679,991 | +€175,519 | +34.8% |
| Deferred charges and accrued income | 490/1 | €128,775 | €85,331 | -€43,444 | -33.7% |
| Total equity and liabilities | 10/49 | €4,426,384 | €5,603,279 | +€1.2m | +26.6% |
| Equity | 10/15 | €2,353,657 | €2,483,179 | +€129,522 | +5.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,203,657 | €2,333,179 | +€129,522 | +5.9% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €2,188,657 | €2,318,179 | +€129,522 | +5.9% |
| Amounts payable | 17/49 | €2,072,727 | €3,120,100 | +€1.0m | +50.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,072,727 | €3,094,748 | +€1.0m | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €96,539 | €0 | -€96,539 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €929,443 | €660,813 | -€268,630 | -28.9% |
| Suppliers | 440/4 | €929,443 | €660,813 | -€268,630 | -28.9% |
| Advances received on contracts in progress | 46 | €97,770 | €304,753 | +€206,983 | +212% |
| Taxes, remuneration and social security | 45 | €480,627 | €387,590 | -€93,036 | -19.4% |
| Taxes | 450/3 | €144,201 | €0 | -€144,201 | -100% |
| Remuneration and social security | 454/9 | €336,426 | €387,590 | +€51,164 | +15.2% |
| Other amounts payable | 47/48 | €468,348 | €1,741,591 | +€1.3m | +272% |
| Accrued charges and deferred income | 492/3 | €0 | €25,352 | +€25,352 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,144,704 | €3,064,803 | -€79,901 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,445 | €177,658 | -€39,786 | -18.3% |
| Other operating charges | 640/8 | €6,031 | €3,607 | -€2,424 | -40.2% |
| Non-recurring operating charges | 66A | - | €60,190 | +€60,190 | |
| Gross operating margin | 9900 | €4,552,254 | €3,642,879 | -€909,375 | -20.0% |
| Operating profit (loss) | 9901 | €1,184,075 | €336,621 | -€847,453 | -71.6% |
| Financial income | 75/76B | €24,885 | €28,392 | +€3,507 | +14.1% |
| Recurring financial income | 75 | €24,885 | €28,392 | +€3,507 | +14.1% |
| Financial charges | 65/66B | €169,686 | €148,327 | -€21,358 | -12.6% |
| Recurring financial charges | 65 | €169,686 | €148,327 | -€21,358 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €1,039,274 | €216,686 | -€822,588 | -79.2% |
| Income taxes | 67/77 | €301,611 | €87,165 | -€214,447 | -71.1% |
| Profit (loss) for the period | 9904 | €737,663 | €129,522 | -€608,141 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €737,663 | €129,522 | -€608,141 | -82.4% |
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.