AGALMA: 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.
AGALMA
Largest movements
- Current investments +€101,775
new in 2025: €101,775
- Cash -€36,834
down €36,834 (-26.0%), from €141,918 to €105,084
mainly Current investments (-€101,775) and Contributions, distributions and other (-€49,884)
- Tangible fixed assets -€12,008
down €12,008 (-21.5%), from €55,869 to €43,861
of which Furniture and vehicles: -€9,878
- Receivables within one year -€5,191
down €5,191 (-98.0%), from €5,299 to €108
of which Other amounts receivable: -€5,141
- Other debts +€50,685
up €50,685 (+598.3%), from €8,472 to €59,157
- Gross operating margin +€34,609
up €34,609 (+69.7%), from €49,643 to €84,252
- Taxes +€12,525
up €12,525 (+119.4%), from €10,489 to €23,014
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 | €203,955 | €251,755 | +€47,800 | +23.4% |
| Fixed assets | 21/28 | €55,869 | €43,861 | -€12,008 | -21.5% |
| Tangible fixed assets | 22/27 | €55,869 | €43,861 | -€12,008 | -21.5% |
| Land and buildings | 22 | €4,585 | €4,585 | = | 0.0% |
| Plant, machinery and equipment | 23 | €9,883 | €9,883 | = | 0.0% |
| Furniture and vehicles | 24 | €35,525 | €25,647 | -€9,878 | -27.8% |
| Other tangible fixed assets | 26 | €5,876 | €3,746 | -€2,130 | -36.2% |
| Current assets | 29/58 | €148,086 | €207,894 | +€59,808 | +40.4% |
| Amounts receivable within one year | 40/41 | €5,299 | €108 | -€5,191 | -98.0% |
| Trade receivables | 40 | €50 | - | -€50 | |
| Other amounts receivable | 41 | €5,249 | €108 | -€5,141 | -97.9% |
| Current investments | 50/53 | - | €101,775 | +€101,775 | |
| Cash at bank and in hand | 54/58 | €141,918 | €105,084 | -€36,834 | -26.0% |
| Deferred charges and accrued income | 490/1 | €869 | €927 | +€58 | +6.7% |
| Total equity and liabilities | 10/49 | €203,955 | €251,755 | +€47,800 | +23.4% |
| Equity | 10/15 | €194,525 | €192,296 | -€2,229 | -1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €178,186 | €175,958 | -€2,229 | -1.3% |
| Distributable reserves | 133 | €178,186 | €175,958 | -€2,229 | -1.3% |
| Profit (loss) carried forward | 14 | €3,939 | €3,939 | = | 0.0% |
| Amounts payable | 17/49 | €9,430 | €59,459 | +€50,029 | +530.5% |
| Amounts payable within one year | 42/48 | €9,382 | €59,444 | +€50,063 | +533.6% |
| Trade debts | 44 | €910 | €288 | -€622 | -68.4% |
| Suppliers | 440/4 | €910 | €288 | -€622 | -68.4% |
| Other amounts payable | 47/48 | €8,472 | €59,157 | +€50,685 | +598.3% |
| Accrued charges and deferred income | 492/3 | €49 | €15 | -€34 | -69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,942 | €12,008 | +€66 | +0.5% |
| Other operating charges | 640/8 | €461 | €879 | +€418 | +90.6% |
| Non-recurring operating charges | 66A | €1,420 | - | -€1,420 | |
| Gross operating margin | 9900 | €49,643 | €84,252 | +€34,609 | +69.7% |
| Operating profit (loss) | 9901 | €35,819 | €71,365 | +€35,546 | +99.2% |
| Financial income | 75/76B | €943 | €405 | -€538 | -57.0% |
| Recurring financial income | 75 | €943 | €405 | -€538 | -57.0% |
| Financial charges | 65/66B | €499 | €1,101 | +€602 | +120.7% |
| Recurring financial charges | 65 | €499 | €1,101 | +€602 | +120.7% |
| Profit (loss) for the period before taxes | 9903 | €36,263 | €70,669 | +€34,406 | +94.9% |
| Income taxes | 67/77 | €10,489 | €23,014 | +€12,525 | +119.4% |
| Profit (loss) for the period | 9904 | €25,774 | €47,656 | +€21,882 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,774 | €47,656 | +€21,882 | +84.9% |
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 12 October 2026 via checked.be.