AGC: 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.
AGC
Largest movements
- Tangible fixed assets -€11,668
down €11,668 (-22.7%), from €51,314 to €39,645
of which Furniture and vehicles: -€11,041
- Cash -€7,530
down €7,530 (-29.8%), from €25,273 to €17,743
mainly Debts after one year (-€9,498) and Receivables within one year (-€5,182)
- Receivables within one year +€5,182
up €5,182 (+144.7%), from €3,582 to €8,764
of which Trade receivables: +€5,321
- Debts after one year -€9,498
down €9,498 (-37.5%), from €25,343 to €15,845
of which Financial debts: -€5,854
- Profit (loss) carried forward -€4,792
down €4,792 (-17.2%), from €27,887 to €23,095
- Gross operating margin -€18,147
down €18,147 (-66.9%), from €27,114 to €8,967
- Depreciation +€3,778
up €3,778 (+47.9%), from €7,890 to €11,668
- Taxes -€839
down €839 (-89.9%), from €934 to €94
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 | €80,480 | €66,473 | -€14,007 | -17.4% |
| Fixed assets | 21/28 | €51,314 | €39,645 | -€11,668 | -22.7% |
| Tangible fixed assets | 22/27 | €51,314 | €39,645 | -€11,668 | -22.7% |
| Furniture and vehicles | 24 | €48,523 | €37,482 | -€11,041 | -22.8% |
| Other tangible fixed assets | 26 | €2,790 | €2,163 | -€627 | -22.5% |
| Current assets | 29/58 | €29,167 | €26,828 | -€2,339 | -8.0% |
| Amounts receivable within one year | 40/41 | €3,582 | €8,764 | +€5,182 | +144.7% |
| Trade receivables | 40 | €3,367 | €8,688 | +€5,321 | +158.1% |
| Other amounts receivable | 41 | €215 | €76 | -€139 | -64.7% |
| Cash at bank and in hand | 54/58 | €25,273 | €17,743 | -€7,530 | -29.8% |
| Deferred charges and accrued income | 490/1 | €312 | €321 | +€9 | +3.0% |
| Total equity and liabilities | 10/49 | €80,480 | €66,473 | -€14,007 | -17.4% |
| Equity | 10/15 | €46,678 | €41,887 | -€4,792 | -10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,592 | €12,592 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,732 | €10,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,887 | €23,095 | -€4,792 | -17.2% |
| Amounts payable | 17/49 | €33,802 | €24,586 | -€9,216 | -27.3% |
| Amounts payable after more than one year | 17 | €25,343 | €15,845 | -€9,498 | -37.5% |
| Financial debts | 170/4 | €21,699 | €15,845 | -€5,854 | -27.0% |
| Other amounts payable | 178/9 | €3,643 | - | -€3,643 | |
| Amounts payable within one year | 42/48 | €8,459 | €8,741 | +€282 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €5,596 | €5,854 | +€258 | +4.6% |
| Trade debts | 44 | €1,383 | €2,142 | +€759 | +54.9% |
| Suppliers | 440/4 | €1,383 | €2,142 | +€759 | +54.9% |
| Taxes, remuneration and social security | 45 | €874 | €198 | -€676 | -77.4% |
| Taxes | 450/3 | €874 | €198 | -€676 | -77.4% |
| Other amounts payable | 47/48 | €607 | €547 | -€60 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,890 | €11,668 | +€3,778 | +47.9% |
| Other operating charges | 640/8 | €548 | €792 | +€244 | +44.5% |
| Non-recurring operating charges | 66A | €45 | €87 | +€42 | +94.3% |
| Gross operating margin | 9900 | €27,114 | €8,967 | -€18,147 | -66.9% |
| Operating profit (loss) | 9901 | €18,631 | -€3,580 | -€22,211 | |
| Financial income | 75/76B | €201 | €0 | -€201 | -100.0% |
| Recurring financial income | 75 | €201 | €0 | -€201 | -100.0% |
| Financial charges | 65/66B | €1,136 | €1,117 | -€19 | -1.7% |
| Recurring financial charges | 65 | €971 | €1,117 | +€146 | +15.0% |
| Non-recurring financial charges | 66B | €165 | - | -€165 | |
| Profit (loss) for the period before taxes | 9903 | €17,696 | -€4,697 | -€22,393 | |
| Income taxes | 67/77 | €934 | €94 | -€839 | -89.9% |
| Profit (loss) for the period | 9904 | €16,762 | -€4,792 | -€21,554 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,762 | -€4,792 | -€21,554 |
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 7 October 2026 via checked.be.