AGAMAX: 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.
AGAMAX
Largest movements
- Receivables within one year +€60,252
up €60,252 (+16.5%), from €365,527 to €425,779
of which Other amounts receivable: +€93,252
- Tangible fixed assets -€37,899
down €37,899 (-7.4%), from €509,849 to €471,949
of which Land and buildings: -€29,368
- Deferred charges and accrued income -€14,127
no longer reported in 2025 (was €14,127)
- Other debts +€123,811
up €123,811 (+35.0%), from €353,671 to €477,483
- Debts after one year -€120,713
down €120,713 (-22.6%), from €535,142 to €414,430
- Current portion of long-term debt +€44,106
up €44,106 (+56.0%), from €78,770 to €122,876
- Tax, wage and social debts -€21,071
down €21,071 (-38.6%), from €54,636 to €33,565
- Gross operating margin -€28,030
down €28,030 (-29.3%), from €95,787 to €67,757
- Financial income -€14,127
no longer reported in 2025 (was €14,127)
- Taxes -€8,955
down €8,955 (-83.0%), from €10,794 to €1,839
- Depreciation +€3,857
up €3,857 (+11.3%), from €34,043 to €37,899
- Other operating charges -€3,177
down €3,177 (-31.8%), from €10,004 to €6,826
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 | €1,297,836 | €1,307,428 | +€9,592 | +0.7% |
| Fixed assets | 21/28 | €917,988 | €880,089 | -€37,899 | -4.1% |
| Tangible fixed assets | 22/27 | €509,849 | €471,949 | -€37,899 | -7.4% |
| Land and buildings | 22 | €499,465 | €470,097 | -€29,368 | -5.9% |
| Plant, machinery and equipment | 23 | €2,380 | €1,853 | -€527 | -22.1% |
| Furniture and vehicles | 24 | €8,004 | - | -€8,004 | |
| Financial fixed assets | 28 | €408,139 | €408,139 | = | 0.0% |
| Current assets | 29/58 | €379,848 | €427,340 | +€47,492 | +12.5% |
| Amounts receivable within one year | 40/41 | €365,527 | €425,779 | +€60,252 | +16.5% |
| Trade receivables | 40 | €33,000 | - | -€33,000 | |
| Other amounts receivable | 41 | €332,527 | €425,779 | +€93,252 | +28.0% |
| Cash at bank and in hand | 54/58 | €193 | €1,561 | +€1,367 | +708.3% |
| Deferred charges and accrued income | 490/1 | €14,127 | - | -€14,127 | |
| Total equity and liabilities | 10/49 | €1,297,836 | €1,307,428 | +€9,592 | +0.7% |
| Equity | 10/15 | €256,105 | €252,641 | -€3,463 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €255,200 | €255,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €249,000 | €249,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,096 | -€64,559 | -€3,463 | -5.7% |
| Amounts payable | 17/49 | €1,041,731 | €1,054,787 | +€13,055 | +1.3% |
| Amounts payable after more than one year | 17 | €535,142 | €414,430 | -€120,713 | -22.6% |
| Financial debts | 170/4 | €535,142 | €414,430 | -€120,713 | -22.6% |
| Amounts payable within one year | 42/48 | €505,918 | €640,140 | +€134,223 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €78,770 | €122,876 | +€44,106 | +56.0% |
| Financial debts | 43 | €5,627 | €16 | -€5,611 | -99.7% |
| Credit institutions | 430/8 | €5,627 | €16 | -€5,611 | -99.7% |
| Trade debts | 44 | €13,213 | €6,200 | -€7,013 | -53.1% |
| Suppliers | 440/4 | €13,213 | €6,200 | -€7,013 | -53.1% |
| Taxes, remuneration and social security | 45 | €54,636 | €33,565 | -€21,071 | -38.6% |
| Taxes | 450/3 | €54,636 | €33,565 | -€21,071 | -38.6% |
| Other amounts payable | 47/48 | €353,671 | €477,483 | +€123,811 | +35.0% |
| Accrued charges and deferred income | 492/3 | €672 | €217 | -€455 | -67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,043 | €37,899 | +€3,857 | +11.3% |
| Other operating charges | 640/8 | €10,004 | €6,826 | -€3,177 | -31.8% |
| Gross operating margin | 9900 | €95,787 | €67,757 | -€28,030 | -29.3% |
| Operating profit (loss) | 9901 | €51,741 | €23,032 | -€28,709 | -55.5% |
| Financial income | 75/76B | €14,127 | - | -€14,127 | |
| Recurring financial income | 75 | €14,127 | - | -€14,127 | |
| Financial charges | 65/66B | €23,188 | €24,656 | +€1,467 | +6.3% |
| Recurring financial charges | 65 | €23,188 | €24,656 | +€1,467 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €42,680 | -€1,624 | -€44,303 | |
| Income taxes | 67/77 | €10,794 | €1,839 | -€8,955 | -83.0% |
| Profit (loss) for the period | 9904 | €31,885 | -€3,463 | -€35,348 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,885 | -€3,463 | -€35,348 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.