AGEFO: 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.
AGEFO
Largest movements
- Cash +€10,266
up €10,266 (+291%), from €3,526 to €13,792
mainly Net result for the year (+€12,378) and Tax, wage and social debts (+€1,202)
- Receivables within one year +€2,306
up €2,306 (+210%), from €1,098 to €3,404
of which Other amounts receivable: +€3,047
- Tangible fixed assets -€1,038
down €1,038 (-35.7%), from €2,909 to €1,871
of which Plant, machinery and equipment: -€624
- Deferred charges and accrued income +€744
up €744 (+91.1%), from €817 to €1,561
- Profit (loss) carried forward +€12,378
up €12,378 (+93.6%), from -€13,220 to -€842
- Tax, wage and social debts +€1,202
up €1,202 (+232%), from €518 to €1,720
- Trade debts -€750
down €750 (-64.4%), from €1,165 to €415
- Other debts -€553
no longer reported in 2025 (was €553)
- Gross operating margin +€10,700
up €10,700 (+238%), from €4,498 to €15,198
- Depreciation -€431
down €431 (-29.3%), from €1,470 to €1,038
- Financial charges +€383
up €383 (+571%), from €67 to €451
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 | €8,351 | €20,628 | +€12,277 | +147% |
| Fixed assets | 21/28 | €2,909 | €1,871 | -€1,038 | -35.7% |
| Tangible fixed assets | 22/27 | €2,909 | €1,871 | -€1,038 | -35.7% |
| Plant, machinery and equipment | 23 | €2,495 | €1,871 | -€624 | -25.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €415 | €0 | -€415 | -100% |
| Current assets | 29/58 | €5,441 | €18,757 | +€13,315 | +245% |
| Amounts receivable within one year | 40/41 | €1,098 | €3,404 | +€2,306 | +210% |
| Trade receivables | 40 | €1,098 | €357 | -€742 | -67.5% |
| Other amounts receivable | 41 | €0 | €3,047 | +€3,047 | |
| Cash at bank and in hand | 54/58 | €3,526 | €13,792 | +€10,266 | +291% |
| Deferred charges and accrued income | 490/1 | €817 | €1,561 | +€744 | +91.1% |
| Total equity and liabilities | 10/49 | €8,351 | €20,628 | +€12,277 | +147% |
| Equity | 10/15 | €6,116 | €18,493 | +€12,378 | +202% |
| Contributions | 10/11 | €17,476 | €17,476 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,220 | -€842 | +€12,378 | +93.6% |
| Amounts payable | 17/49 | €2,235 | €2,134 | -€101 | -4.5% |
| Amounts payable within one year | 42/48 | €2,235 | €2,134 | -€101 | -4.5% |
| Trade debts | 44 | €1,165 | €415 | -€750 | -64.4% |
| Suppliers | 440/4 | €1,165 | €415 | -€750 | -64.4% |
| Taxes, remuneration and social security | 45 | €518 | €1,720 | +€1,202 | +232% |
| Taxes | 450/3 | €518 | €1,720 | +€1,202 | +232% |
| Other amounts payable | 47/48 | €553 | - | -€553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €1,038 | -€431 | -29.3% |
| Other operating charges | 640/8 | €955 | €979 | +€25 | +2.6% |
| Gross operating margin | 9900 | €4,498 | €15,198 | +€10,700 | +238% |
| Operating profit (loss) | 9901 | €2,074 | €13,181 | +€11,107 | +536% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €67 | €451 | +€383 | +571% |
| Recurring financial charges | 65 | €67 | €451 | +€383 | +571% |
| Profit (loss) for the period before taxes | 9903 | €2,007 | €12,730 | +€10,723 | +534% |
| Income taxes | 67/77 | €288 | €352 | +€64 | +22.2% |
| Profit (loss) for the period | 9904 | €1,719 | €12,378 | +€10,659 | +620% |
| Profit (loss) for the period to be appropriated | 9905 | €1,719 | €12,378 | +€10,659 | +620% |
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.