AGAZ GROUP: 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.
AGAZ GROUP
Largest movements
- Cash +€207,507
up €207,507 (+635%), from €32,697 to €240,204
mainly Net result for the year (+€164,052) and Provisions (+€29,590)
- Tangible fixed assets -€18,181
down €18,181 (-5.3%), from €346,302 to €328,120
of which Furniture and vehicles: -€10,618
- Profit (loss) carried forward +€163,219
up €163,219 (+43.7%), from €373,137 to €536,356
- Provisions +€29,590
new in 2025: €29,590
- Tax, wage and social debts -€11,372
down €11,372 (-22.5%), from €50,649 to €39,277
of which Taxes: -€14,948
- Gross operating margin +€105,660
up €105,660 (+45.2%), from €233,803 to €339,463
- Other operating charges -€40,540
down €40,540 (-96.9%), from €41,856 to €1,316
- Taxes +€32,328
up €32,328 (+118%), from €27,411 to €59,740
- Provisions +€29,590
new in 2025: €29,590
- Depreciation +€7,514
up €7,514 (+62.9%), from €11,948 to €19,462
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 | €432,268 | €619,660 | +€187,391 | +43.4% |
| Fixed assets | 21/28 | €346,302 | €328,120 | -€18,181 | -5.3% |
| Tangible fixed assets | 22/27 | €346,302 | €328,120 | -€18,181 | -5.3% |
| Land and buildings | 22 | €324,405 | €316,034 | -€8,371 | -2.6% |
| Furniture and vehicles | 24 | €18,279 | €7,660 | -€10,618 | -58.1% |
| Other tangible fixed assets | 26 | €3,618 | €4,426 | +€808 | +22.3% |
| Current assets | 29/58 | €85,967 | €291,539 | +€205,573 | +239% |
| Amounts receivable within one year | 40/41 | €51,377 | €48,677 | -€2,700 | -5.3% |
| Trade receivables | 40 | €47,178 | €48,677 | +€1,500 | +3.2% |
| Other amounts receivable | 41 | €4,199 | €0 | -€4,199 | -100% |
| Cash at bank and in hand | 54/58 | €32,697 | €240,204 | +€207,507 | +635% |
| Deferred charges and accrued income | 490/1 | €1,893 | €2,658 | +€765 | +40.4% |
| Total equity and liabilities | 10/49 | €432,268 | €619,660 | +€187,391 | +43.4% |
| Equity | 10/15 | €377,137 | €540,356 | +€163,219 | +43.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €373,137 | €536,356 | +€163,219 | +43.7% |
| Provisions and deferred taxes | 16 | - | €29,590 | +€29,590 | |
| Provisions for liabilities and charges | 160/5 | - | €29,590 | +€29,590 | |
| Other liabilities and charges | 164/5 | - | €29,590 | +€29,590 | |
| Amounts payable | 17/49 | €55,132 | €49,715 | -€5,417 | -9.8% |
| Amounts payable within one year | 42/48 | €55,132 | €48,195 | -€6,937 | -12.6% |
| Trade debts | 44 | €3,650 | €7,455 | +€3,805 | +104% |
| Suppliers | 440/4 | €3,650 | €7,455 | +€3,805 | +104% |
| Taxes, remuneration and social security | 45 | €50,649 | €39,277 | -€11,372 | -22.5% |
| Taxes | 450/3 | €37,843 | €22,895 | -€14,948 | -39.5% |
| Remuneration and social security | 454/9 | €12,806 | €16,382 | +€3,576 | +27.9% |
| Other amounts payable | 47/48 | €833 | €1,463 | +€630 | +75.6% |
| Accrued charges and deferred income | 492/3 | - | €1,520 | +€1,520 | |
| Remuneration, social security and pensions | 62 | €62,117 | €64,996 | +€2,879 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,948 | €19,462 | +€7,514 | +62.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €29,590 | +€29,590 | |
| Other operating charges | 640/8 | €41,856 | €1,316 | -€40,540 | -96.9% |
| Gross operating margin | 9900 | €233,803 | €339,463 | +€105,660 | +45.2% |
| Operating profit (loss) | 9901 | €117,881 | €224,099 | +€106,218 | +90.1% |
| Financial income | 75/76B | €222 | €0 | -€222 | -100% |
| Recurring financial income | 75 | €222 | €0 | -€222 | -100% |
| Financial charges | 65/66B | €491 | €308 | -€184 | -37.4% |
| Recurring financial charges | 65 | €491 | €308 | -€184 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €117,612 | €223,792 | +€106,180 | +90.3% |
| Income taxes | 67/77 | €27,411 | €59,740 | +€32,328 | +118% |
| Profit (loss) for the period | 9904 | €90,200 | €164,052 | +€73,852 | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,200 | €164,052 | +€73,852 | +81.9% |
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 19 October 2026 via checked.be.