AGEDIF: 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.
AGEDIF
Largest movements
- Cash +€44,496
up €44,496 (+45.1%), from €98,616 to €143,113
mainly Net result for the year (+€99,297) and Other debts (+€19,566)
- Receivables within one year +€22,862
up €22,862, from €0 to €22,862
of which Trade receivables: +€19,109
- Tangible fixed assets -€15,284
down €15,284 (-11.6%), from €131,609 to €116,325
of which Land and buildings: -€12,925
- Receivables after one year +€10,000
up €10,000 (+71.4%), from €14,000 to €24,000
- Current investments -€9,400
down €9,400 (-83.9%), from €11,200 to €1,800
- Reserves +€73,065
up €73,065 (+38.9%), from €187,786 to €260,851
- Debts after one year -€46,621
down €46,621 (-26.5%), from €175,631 to €129,010
- Other debts +€19,566
up €19,566 (+253%), from €7,748 to €27,314
- Tax, wage and social debts +€11,923
up €11,923 (+40.0%), from €29,805 to €41,728
of which Taxes: +€13,438
- Financial income +€46,960
up €46,960 (+3,968%), from €1,184 to €48,143
- Gross operating margin -€27,118
down €27,118 (-14.8%), from €182,933 to €155,815
- Staff costs -€12,550
down €12,550 (-21.7%), from €57,797 to €45,247
- Financial charges -€3,957
down €3,957 (-26.2%), from €15,127 to €11,171
- Taxes +€1,972
up €1,972 (+7.3%), from €27,007 to €28,979
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 | €471,110 | €525,075 | +€53,964 | +11.5% |
| Fixed assets | 21/28 | €332,809 | €317,525 | -€15,284 | -4.6% |
| Tangible fixed assets | 22/27 | €131,609 | €116,325 | -€15,284 | -11.6% |
| Land and buildings | 22 | €129,250 | €116,325 | -€12,925 | -10.0% |
| Furniture and vehicles | 24 | €2,359 | €0 | -€2,359 | -100% |
| Financial fixed assets | 28 | €201,200 | €201,200 | = | 0.0% |
| Current assets | 29/58 | €138,301 | €207,550 | +€69,248 | +50.1% |
| Amounts receivable after more than one year | 29 | €14,000 | €24,000 | +€10,000 | +71.4% |
| Other amounts receivable | 291 | €14,000 | €24,000 | +€10,000 | +71.4% |
| Amounts receivable within one year | 40/41 | €0 | €22,862 | +€22,862 | |
| Trade receivables | 40 | €0 | €19,109 | +€19,109 | |
| Other amounts receivable | 41 | - | €3,754 | +€3,754 | |
| Current investments | 50/53 | €11,200 | €1,800 | -€9,400 | -83.9% |
| Cash at bank and in hand | 54/58 | €98,616 | €143,113 | +€44,496 | +45.1% |
| Deferred charges and accrued income | 490/1 | €14,485 | €15,775 | +€1,290 | +8.9% |
| Total equity and liabilities | 10/49 | €471,110 | €525,075 | +€53,964 | +11.5% |
| Equity | 10/15 | €198,215 | €271,280 | +€73,065 | +36.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €187,786 | €260,851 | +€73,065 | +38.9% |
| Distributable reserves | 133 | €187,786 | €260,851 | +€73,065 | +38.9% |
| Profit (loss) carried forward | 14 | €4,230 | €4,230 | = | 0.0% |
| Amounts payable | 17/49 | €272,895 | €253,794 | -€19,101 | -7.0% |
| Amounts payable after more than one year | 17 | €175,631 | €129,010 | -€46,621 | -26.5% |
| Financial debts | 170/4 | €175,631 | €129,010 | -€46,621 | -26.5% |
| Amounts payable within one year | 42/48 | €85,718 | €115,784 | +€30,066 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €47,727 | €46,446 | -€1,281 | -2.7% |
| Trade debts | 44 | €438 | €296 | -€141 | -32.3% |
| Suppliers | 440/4 | €438 | €296 | -€141 | -32.3% |
| Taxes, remuneration and social security | 45 | €29,805 | €41,728 | +€11,923 | +40.0% |
| Taxes | 450/3 | €23,268 | €36,706 | +€13,438 | +57.8% |
| Remuneration and social security | 454/9 | €6,537 | €5,022 | -€1,515 | -23.2% |
| Other amounts payable | 47/48 | €7,748 | €27,314 | +€19,566 | +253% |
| Accrued charges and deferred income | 492/3 | €11,547 | €9,001 | -€2,546 | -22.0% |
| Remuneration, social security and pensions | 62 | €57,797 | €45,247 | -€12,550 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,510 | €15,284 | -€226 | -1.5% |
| Other operating charges | 640/8 | €3,915 | €3,980 | +€65 | +1.7% |
| Gross operating margin | 9900 | €182,933 | €155,815 | -€27,118 | -14.8% |
| Operating profit (loss) | 9901 | €105,711 | €91,303 | -€14,408 | -13.6% |
| Financial income | 75/76B | €1,184 | €48,143 | +€46,960 | +3,968% |
| Recurring financial income | 75 | €1,184 | €48,143 | +€46,960 | +3,968% |
| Financial charges | 65/66B | €15,127 | €11,171 | -€3,957 | -26.2% |
| Recurring financial charges | 65 | €15,127 | €11,171 | -€3,957 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €91,767 | €128,276 | +€36,508 | +39.8% |
| Income taxes | 67/77 | €27,007 | €28,979 | +€1,972 | +7.3% |
| Profit (loss) for the period | 9904 | €64,760 | €99,297 | +€34,537 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,760 | €99,297 | +€34,537 | +53.3% |
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 15 October 2026 via checked.be.