Agathos: what changed
Two fiscal 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.
Agathos
Largest movements
- Tangible fixed assets -€22,861
down €22,861 (-5.2%), from €435,834 to €412,973
of which Land and buildings: -€14,162
- Cash -€13,294
down €13,294 (-62.1%), from €21,413 to €8,119
mainly Contributions, distributions and other (-€154,871) and Debts after one year (-€22,746)
- Current investments +€9,923
up €9,923 (+6.8%), from €146,006 to €155,929
- Other debts +€78,510
up €78,510 (+103.6%), from €75,775 to €154,285
- Reserves -€66,528
down €66,528 (-41.6%), from €160,016 to €93,488
- Debts after one year -€22,746
down €22,746 (-7.3%), from €312,740 to €289,994
- Tax, wage and social debts -€10,558
down €10,558 (-38.8%), from €27,192 to €16,634
- Gross operating margin +€5,596
up €5,596 (+3.9%), from €145,145 to €150,741
- Other operating charges +€3,663
up €3,663 (+327.4%), from €1,119 to €4,781
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 | €618,021 | €597,319 | -€20,702 | -3.3% |
| Fixed assets | 21/28 | €435,834 | €412,973 | -€22,861 | -5.2% |
| Tangible fixed assets | 22/27 | €435,834 | €412,973 | -€22,861 | -5.2% |
| Land and buildings | 22 | €389,185 | €375,023 | -€14,162 | -3.6% |
| Other tangible fixed assets | 26 | €46,650 | €37,950 | -€8,699 | -18.6% |
| Current assets | 29/58 | €182,187 | €184,346 | +€2,159 | +1.2% |
| Amounts receivable within one year | 40/41 | €14,561 | €20,298 | +€5,737 | +39.4% |
| Trade receivables | 40 | €10,969 | €18,112 | +€7,142 | +65.1% |
| Other amounts receivable | 41 | €3,592 | €2,186 | -€1,405 | -39.1% |
| Current investments | 50/53 | €146,006 | €155,929 | +€9,923 | +6.8% |
| Cash at bank and in hand | 54/58 | €21,413 | €8,119 | -€13,294 | -62.1% |
| Deferred charges and accrued income | 490/1 | €207 | - | -€207 | |
| Total equity and liabilities | 10/49 | €618,021 | €597,319 | -€20,702 | -3.3% |
| Equity | 10/15 | €180,016 | €113,488 | -€66,528 | -37.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €160,016 | €93,488 | -€66,528 | -41.6% |
| Distributable reserves | 133 | €160,016 | €93,488 | -€66,528 | -41.6% |
| Amounts payable | 17/49 | €438,005 | €483,831 | +€45,825 | +10.5% |
| Amounts payable after more than one year | 17 | €312,740 | €289,994 | -€22,746 | -7.3% |
| Financial debts | 170/4 | €312,740 | €289,994 | -€22,746 | -7.3% |
| Amounts payable within one year | 42/48 | €125,265 | €193,837 | +€68,572 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €22,298 | €22,746 | +€448 | +2.0% |
| Trade debts | 44 | - | €171 | +€171 | |
| Suppliers | 440/4 | - | €171 | +€171 | |
| Taxes, remuneration and social security | 45 | €27,192 | €16,634 | -€10,558 | -38.8% |
| Taxes | 450/3 | €27,192 | €16,634 | -€10,558 | -38.8% |
| Other amounts payable | 47/48 | €75,775 | €154,285 | +€78,510 | +103.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,861 | €22,861 | = | 0.0% |
| Other operating charges | 640/8 | €1,119 | €4,781 | +€3,663 | +327.4% |
| Gross operating margin | 9900 | €145,145 | €150,741 | +€5,596 | +3.9% |
| Operating profit (loss) | 9901 | €121,165 | €123,098 | +€1,933 | +1.6% |
| Financial income | 75/76B | €6 | €1,304 | +€1,298 | +21559.0% |
| Recurring financial income | 75 | €6 | €1,304 | +€1,298 | +21559.0% |
| Financial charges | 65/66B | €7,604 | €6,612 | -€993 | -13.1% |
| Recurring financial charges | 65 | €7,604 | €6,612 | -€993 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €113,567 | €117,790 | +€4,224 | +3.7% |
| Income taxes | 67/77 | €29,231 | €29,448 | +€216 | +0.7% |
| Profit (loss) for the period | 9904 | €84,335 | €88,343 | +€4,007 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,335 | €88,343 | +€4,007 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.