AGELEC: 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.
AGELEC
Largest movements
- Receivables within one year +€16,701
up €16,701 (+94.7%), from €17,632 to €34,333
of which Trade receivables: +€27,629
- Stocks and contracts -€11,982
down €11,982 (-39.6%), from €30,296 to €18,314
- Cash -€6,353
down €6,353 (-32.4%), from €19,586 to €13,233
mainly Receivables within one year (-€16,701) and Trade debts (-€9,129)
- Tangible fixed assets -€2,360
down €2,360 (-27.1%), from €8,707 to €6,347
of which Plant, machinery and equipment: -€2,520
- Deferred charges and accrued income -€1,540
down €1,540 (-92.4%), from €1,666 to €126
- Trade debts -€9,129
down €9,129 (-22.3%), from €40,871 to €31,741
- Tax, wage and social debts +€4,038
up €4,038 (+640.9%), from €630 to €4,668
- Profit (loss) carried forward +€2,529
up €2,529 (+53.6%), from -€4,715 to -€2,186
- Short-term financial debts -€1,690
down €1,690 (-100.0%), from €1,690 to €0
- Other debts -€1,280
down €1,280 (-8.5%), from €14,998 to €13,718
- Gross operating margin +€15,476
up €15,476, from -€6,821 to €8,655
- Depreciation +€735
up €735 (+19.0%), from €3,858 to €4,593
- Financial charges -€231
down €231 (-40.9%), from €564 to €333
- Taxes +€170
up €170 (+123.0%), from €138 to €308
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 | €77,886 | €72,353 | -€5,533 | -7.1% |
| Fixed assets | 21/28 | €8,707 | €6,347 | -€2,360 | -27.1% |
| Tangible fixed assets | 22/27 | €8,707 | €6,347 | -€2,360 | -27.1% |
| Plant, machinery and equipment | 23 | €7,403 | €4,883 | -€2,520 | -34.0% |
| Furniture and vehicles | 24 | €1,304 | €1,465 | +€160 | +12.3% |
| Current assets | 29/58 | €69,179 | €66,006 | -€3,173 | -4.6% |
| Stocks and contracts in progress | 3 | €30,296 | €18,314 | -€11,982 | -39.6% |
| Stocks | 30/36 | €30,296 | €18,314 | -€11,982 | -39.6% |
| Amounts receivable within one year | 40/41 | €17,632 | €34,333 | +€16,701 | +94.7% |
| Trade receivables | 40 | €6,704 | €34,333 | +€27,629 | +412.2% |
| Other amounts receivable | 41 | €10,928 | €0 | -€10,928 | -100.0% |
| Cash at bank and in hand | 54/58 | €19,586 | €13,233 | -€6,353 | -32.4% |
| Deferred charges and accrued income | 490/1 | €1,666 | €126 | -€1,540 | -92.4% |
| Total equity and liabilities | 10/49 | €77,886 | €72,353 | -€5,533 | -7.1% |
| Equity | 10/15 | €19,697 | €22,226 | +€2,529 | +12.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,213 | €18,213 | = | 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 | €16,353 | €16,353 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,715 | -€2,186 | +€2,529 | +53.6% |
| Amounts payable | 17/49 | €58,189 | €50,127 | -€8,062 | -13.9% |
| Amounts payable within one year | 42/48 | €58,189 | €50,127 | -€8,062 | -13.9% |
| Financial debts | 43 | €1,690 | €0 | -€1,690 | -100.0% |
| Credit institutions | 430/8 | €1,690 | €0 | -€1,690 | -100.0% |
| Trade debts | 44 | €40,871 | €31,741 | -€9,129 | -22.3% |
| Suppliers | 440/4 | €40,871 | €31,741 | -€9,129 | -22.3% |
| Taxes, remuneration and social security | 45 | €630 | €4,668 | +€4,038 | +640.9% |
| Taxes | 450/3 | €630 | €4,668 | +€4,038 | +640.9% |
| Other amounts payable | 47/48 | €14,998 | €13,718 | -€1,280 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,858 | €4,593 | +€735 | +19.0% |
| Other operating charges | 640/8 | €937 | €893 | -€44 | -4.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€6,821 | €8,655 | +€15,476 | |
| Operating profit (loss) | 9901 | -€11,617 | €3,169 | +€14,786 | |
| Financial income | 75/76B | €8 | €1 | -€7 | -87.8% |
| Recurring financial income | 75 | €8 | €1 | -€7 | -87.8% |
| Financial charges | 65/66B | €564 | €333 | -€231 | -40.9% |
| Recurring financial charges | 65 | €564 | €333 | -€231 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,173 | €2,837 | +€15,010 | |
| Income taxes | 67/77 | €138 | €308 | +€170 | +123.0% |
| Profit (loss) for the period | 9904 | -€12,311 | €2,529 | +€14,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,311 | €2,529 | +€14,840 |
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.