AGEHER: 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.
AGEHER
Largest movements
- Cash -€116,079
down €116,079 (-93.3%), from €124,419 to €8,341
mainly Investment in fixed assets (net) (-€224,077) and Other debts (-€23,100)
- Tangible fixed assets +€80,752
up €80,752 (+2.0%), from €4.1m to €4.2m
of which Land and buildings: +€799,640
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€80,588
up €80,588 (+82.1%), from €98,190 to €178,778
- Financial income +€45,366
up €45,366 (+146153.5%), from €31 to €45,397
of which Non-recurring financial income: +€45,350
- Depreciation +€11,273
up €11,273 (+8.1%), from €139,202 to €150,475
- Financial charges +€5,749
up €5,749 (+47.0%), from €12,222 to €17,970
of which Financial charges: +€8,149
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 | €4,223,811 | €4,183,092 | -€40,718 | -1.0% |
| Fixed assets | 21/28 | €4,083,917 | €4,157,518 | +€73,602 | +1.8% |
| Tangible fixed assets | 22/27 | €4,076,667 | €4,157,418 | +€80,752 | +2.0% |
| Land and buildings | 22 | €3,357,778 | €4,157,418 | +€799,640 | +23.8% |
| Assets under construction and advance payments | 27 | €718,888 | €0 | -€718,888 | -100.0% |
| Financial fixed assets | 28 | €7,250 | €100 | -€7,150 | -98.6% |
| Current assets | 29/58 | €139,894 | €25,574 | -€114,320 | -81.7% |
| Amounts receivable within one year | 40/41 | €13,594 | €15,284 | +€1,690 | +12.4% |
| Trade receivables | 40 | €13,594 | €15,284 | +€1,690 | +12.4% |
| Cash at bank and in hand | 54/58 | €124,419 | €8,341 | -€116,079 | -93.3% |
| Deferred charges and accrued income | 490/1 | €1,881 | €1,949 | +€68 | +3.6% |
| Total equity and liabilities | 10/49 | €4,223,811 | €4,183,092 | -€40,718 | -1.0% |
| Equity | 10/15 | €3,351,705 | €3,334,176 | -€17,528 | -0.5% |
| Contributions | 10/11 | €2,080,260 | €2,080,260 | = | 0.0% |
| Capital | 10 | €2,080,260 | €2,080,260 | = | 0.0% |
| Issued capital | 100 | €2,080,260 | €2,080,260 | = | 0.0% |
| Reserves | 13 | €1,271,445 | €1,288,916 | +€17,471 | +1.4% |
| Non-distributable reserves | 130/1 | €87,831 | €87,831 | = | 0.0% |
| Legal reserve | 130 | €87,831 | €87,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €634,989 | €652,460 | +€17,471 | +2.8% |
| Distributable reserves | 133 | €548,625 | €548,625 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€34,999 | -€34,999 | |
| Provisions and deferred taxes | 16 | €209,630 | €215,454 | +€5,824 | +2.8% |
| Deferred taxes | 168 | €209,630 | €215,454 | +€5,824 | +2.8% |
| Amounts payable | 17/49 | €662,476 | €633,462 | -€29,014 | -4.4% |
| Amounts payable after more than one year | 17 | €549,196 | €535,560 | -€13,636 | -2.5% |
| Financial debts | 170/4 | €545,496 | €531,860 | -€13,636 | -2.5% |
| Other amounts payable | 178/9 | €3,700 | €3,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,279 | €95,802 | -€17,478 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €87,020 | €86,770 | -€249 | -0.3% |
| Trade debts | 44 | €1,429 | €7,300 | +€5,872 | +411.0% |
| Suppliers | 440/4 | €1,429 | €7,300 | +€5,872 | +411.0% |
| Other amounts payable | 47/48 | €24,831 | €1,731 | -€23,100 | -93.0% |
| Accrued charges and deferred income | 492/3 | €0 | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,202 | €150,475 | +€11,273 | +8.1% |
| Other operating charges | 640/8 | €21,892 | €22,539 | +€647 | +3.0% |
| Non-recurring operating charges | 66A | - | €44,895 | +€44,895 | |
| Gross operating margin | 9900 | €98,190 | €178,778 | +€80,588 | +82.1% |
| Operating profit (loss) | 9901 | -€62,904 | -€39,131 | +€23,772 | +37.8% |
| Financial income | 75/76B | €31 | €45,397 | +€45,366 | +146153.5% |
| Recurring financial income | 75 | €31 | €47 | +€16 | +51.7% |
| Non-recurring financial income | 76B | - | €45,350 | +€45,350 | |
| Financial charges | 65/66B | €12,222 | €17,970 | +€5,749 | +47.0% |
| Recurring financial charges | 65 | €9,822 | €17,970 | +€8,149 | +83.0% |
| Non-recurring financial charges | 66B | €2,400 | €0 | -€2,400 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€75,094 | -€11,704 | +€63,390 | +84.4% |
| Transfer from deferred taxes | 780 | €6,657 | €7,751 | +€1,093 | +16.4% |
| Transfer to deferred taxes | 680 | €0 | €13,574 | +€13,574 | |
| Profit (loss) for the period | 9904 | -€68,437 | -€17,528 | +€50,909 | +74.4% |
| Transfer from tax-exempt reserves | 789 | €19,972 | €23,252 | +€3,280 | +16.4% |
| Transfer to tax-exempt reserves | 689 | €0 | €40,723 | +€40,723 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,464 | -€34,999 | +€13,465 | +27.8% |
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 11 October 2026 via checked.be.