Agaetis Project: 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.
Agaetis Project
Largest movements
- Receivables within one year +€144,382
up €144,382 (+69.4%), from €207,935 to €352,318
of which Trade receivables: +€77,589
- Financial fixed assets -€13,548
down €13,548 (-18.5%), from €73,199 to €59,652
- Tangible fixed assets -€13,096
down €13,096 (-5.4%), from €244,684 to €231,588
of which Land and buildings: -€7,470
- Cash +€11,712
up €11,712 (+6,160%), from €190 to €11,902
mainly Net result for the year (+€97,029) and Trade debts (+€24,300)
- Current investments -€10,119
down €10,119 (-26.7%), from €37,891 to €27,772
- Reserves +€97,029
up €97,029 (+34.3%), from €282,710 to €379,740
of which Distributable reserves: +€97,029
- Debts after one year -€29,505
down €29,505 (-24.9%), from €118,365 to €88,860
- Trade debts +€24,300
up €24,300 (+588%), from €4,134 to €28,433
- Other debts +€13,800
new in 2025: €13,800
- Short-term financial debts +€12,000
up €12,000 (+100%), from €12,000 to €24,000
- Financial income +€26,071
up €26,071 (+400%), from €6,518 to €32,590
of which Non-recurring financial income: +€19,737
- Financial charges +€9,832
up €9,832 (+267%), from €3,682 to €13,514
- Gross operating margin -€6,221
down €6,221 (-4.6%), from €136,381 to €130,160
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 | €563,900 | €683,231 | +€119,332 | +21.2% |
| Fixed assets | 21/28 | €317,884 | €291,240 | -€26,644 | -8.4% |
| Tangible fixed assets | 22/27 | €244,684 | €231,588 | -€13,096 | -5.4% |
| Land and buildings | 22 | €229,379 | €221,909 | -€7,470 | -3.3% |
| Plant, machinery and equipment | 23 | €10,018 | €4,196 | -€5,822 | -58.1% |
| Furniture and vehicles | 24 | €5,287 | €5,484 | +€197 | +3.7% |
| Financial fixed assets | 28 | €73,199 | €59,652 | -€13,548 | -18.5% |
| Current assets | 29/58 | €246,016 | €391,991 | +€145,975 | +59.3% |
| Amounts receivable within one year | 40/41 | €207,935 | €352,318 | +€144,382 | +69.4% |
| Trade receivables | 40 | €13,466 | €91,055 | +€77,589 | +576% |
| Other amounts receivable | 41 | €194,470 | €261,263 | +€66,793 | +34.3% |
| Current investments | 50/53 | €37,891 | €27,772 | -€10,119 | -26.7% |
| Cash at bank and in hand | 54/58 | €190 | €11,902 | +€11,712 | +6,160% |
| Total equity and liabilities | 10/49 | €563,900 | €683,231 | +€119,332 | +21.2% |
| Equity | 10/15 | €378,126 | €475,155 | +€97,029 | +25.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €282,710 | €379,740 | +€97,029 | +34.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,500 | €50,500 | = | 0.0% |
| Distributable reserves | 133 | €230,350 | €327,380 | +€97,029 | +42.1% |
| Profit (loss) carried forward | 14 | €89,216 | €89,216 | = | 0.0% |
| Amounts payable | 17/49 | €185,774 | €208,076 | +€22,302 | +12.0% |
| Amounts payable after more than one year | 17 | €118,365 | €88,860 | -€29,505 | -24.9% |
| Financial debts | 170/4 | €118,365 | €88,860 | -€29,505 | -24.9% |
| Amounts payable within one year | 42/48 | €67,409 | €119,216 | +€51,808 | +76.9% |
| Current portion of amounts payable after more than one year | 42 | €28,891 | €29,505 | +€615 | +2.1% |
| Financial debts | 43 | €12,000 | €24,000 | +€12,000 | +100% |
| Credit institutions | 430/8 | €12,000 | €24,000 | +€12,000 | +100% |
| Trade debts | 44 | €4,134 | €28,433 | +€24,300 | +588% |
| Suppliers | 440/4 | €4,134 | €28,433 | +€24,300 | +588% |
| Taxes, remuneration and social security | 45 | €22,385 | €23,477 | +€1,093 | +4.9% |
| Taxes | 450/3 | €22,385 | €23,477 | +€1,093 | +4.9% |
| Other amounts payable | 47/48 | - | €13,800 | +€13,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,629 | €16,850 | -€779 | -4.4% |
| Other operating charges | 640/8 | €2,092 | €1,879 | -€213 | -10.2% |
| Gross operating margin | 9900 | €136,381 | €130,160 | -€6,221 | -4.6% |
| Operating profit (loss) | 9901 | €116,660 | €111,431 | -€5,229 | -4.5% |
| Financial income | 75/76B | €6,518 | €32,590 | +€26,071 | +400% |
| Recurring financial income | 75 | €6,518 | €12,853 | +€6,334 | +97.2% |
| Non-recurring financial income | 76B | - | €19,737 | +€19,737 | |
| Financial charges | 65/66B | €3,682 | €13,514 | +€9,832 | +267% |
| Recurring financial charges | 65 | €3,682 | €13,514 | +€9,832 | +267% |
| Profit (loss) for the period before taxes | 9903 | €119,497 | €130,507 | +€11,010 | +9.2% |
| Income taxes | 67/77 | €34,073 | €33,477 | -€595 | -1.7% |
| Profit (loss) for the period | 9904 | €85,424 | €97,029 | +€11,605 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,424 | €97,029 | +€11,605 | +13.6% |
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.