AGEPA GROUP: 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.
AGEPA GROUP
Largest movements
- Receivables within one year -€827,373
down €827,373 (-34.8%), from €2.4m to €1.6m
of which Other amounts receivable: -€851,363
- Receivables after one year +€684,000
new in 2026: €684,000
- Current investments +€313,560
up €313,560 (+87.9%), from €356,706 to €670,266
- Cash +€254,926
up €254,926 (+44.9%), from €567,747 to €822,673
mainly Receivables within one year (+€827,373) and Net result for the year (+€633,325)
- Tangible fixed assets -€68,724
down €68,724 (-7.2%), from €952,478 to €883,754
of which Land and buildings: -€55,443
- Reserves +€187,000
up €187,000 (+5.0%), from €3.8m to €4.0m
of which Distributable reserves: +€187,000
- Other debts +€186,000
up €186,000 (+71.5%), from €260,000 to €446,000
- Financial income -€350,624
down €350,624 (-35.8%), from €978,711 to €628,087
of which Financial income: -€355,370
- Taxes -€33,257
down €33,257 (-25.8%), from €128,888 to €95,630
- Staff costs +€12,875
up €12,875 (+27.5%), from €46,806 to €59,681
- Gross operating margin -€5,222
down €5,222 (-2.0%), from €260,872 to €255,650
- Depreciation -€3,148
down €3,148 (-3.5%), from €90,106 to €86,958
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,313,948 | €4,663,737 | +€349,789 | +8.1% |
| Fixed assets | 21/28 | €999,978 | €931,254 | -€68,724 | -6.9% |
| Tangible fixed assets | 22/27 | €952,478 | €883,754 | -€68,724 | -7.2% |
| Land and buildings | 22 | €877,250 | €821,806 | -€55,443 | -6.3% |
| Plant, machinery and equipment | 23 | €460 | - | -€460 | |
| Furniture and vehicles | 24 | €74,768 | €61,948 | -€12,820 | -17.1% |
| Financial fixed assets | 28 | €47,500 | €47,500 | = | 0.0% |
| Current assets | 29/58 | €3,313,970 | €3,732,483 | +€418,513 | +12.6% |
| Amounts receivable after more than one year | 29 | - | €684,000 | +€684,000 | |
| Other amounts receivable | 291 | - | €684,000 | +€684,000 | |
| Amounts receivable within one year | 40/41 | €2,378,754 | €1,551,381 | -€827,373 | -34.8% |
| Trade receivables | 40 | - | €23,990 | +€23,990 | |
| Other amounts receivable | 41 | €2,378,754 | €1,527,391 | -€851,363 | -35.8% |
| Current investments | 50/53 | €356,706 | €670,266 | +€313,560 | +87.9% |
| Cash at bank and in hand | 54/58 | €567,747 | €822,673 | +€254,926 | +44.9% |
| Deferred charges and accrued income | 490/1 | €10,763 | €4,163 | -€6,600 | -61.3% |
| Total equity and liabilities | 10/49 | €4,313,948 | €4,663,737 | +€349,789 | +8.1% |
| Equity | 10/15 | €3,949,402 | €4,134,604 | +€185,202 | +4.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €3,771,000 | €3,958,000 | +€187,000 | +5.0% |
| Non-distributable reserves | 130/1 | €69,000 | €69,000 | = | 0.0% |
| Legal reserve | 130 | €69,000 | €69,000 | = | 0.0% |
| Distributable reserves | 133 | €3,702,000 | €3,889,000 | +€187,000 | +5.1% |
| Profit (loss) carried forward | 14 | €6,637 | €6,962 | +€325 | +4.9% |
| Investment grants | 15 | €21,765 | €19,642 | -€2,123 | -9.8% |
| Amounts payable | 17/49 | €364,546 | €529,132 | +€164,587 | +45.1% |
| Amounts payable within one year | 42/48 | €364,546 | €529,132 | +€164,587 | +45.1% |
| Current portion of amounts payable after more than one year | 42 | €16,892 | €16,828 | -€64 | -0.4% |
| Trade debts | 44 | €6,332 | €18,054 | +€11,722 | +185% |
| Suppliers | 440/4 | €6,332 | €18,054 | +€11,722 | +185% |
| Taxes, remuneration and social security | 45 | €81,322 | €48,250 | -€33,072 | -40.7% |
| Taxes | 450/3 | €78,721 | €45,489 | -€33,232 | -42.2% |
| Remuneration and social security | 454/9 | €2,601 | €2,762 | +€161 | +6.2% |
| Other amounts payable | 47/48 | €260,000 | €446,000 | +€186,000 | +71.5% |
| Remuneration, social security and pensions | 62 | €46,806 | €59,681 | +€12,875 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,106 | €86,958 | -€3,148 | -3.5% |
| Other operating charges | 640/8 | €5,652 | €5,817 | +€166 | +2.9% |
| Gross operating margin | 9900 | €260,872 | €255,650 | -€5,222 | -2.0% |
| Operating profit (loss) | 9901 | €118,308 | €103,194 | -€15,114 | -12.8% |
| Financial income | 75/76B | €978,711 | €628,087 | -€350,624 | -35.8% |
| Recurring financial income | 75 | €966,830 | €611,460 | -€355,370 | -36.8% |
| Non-recurring financial income | 76B | €11,881 | €16,627 | +€4,746 | +39.9% |
| Financial charges | 65/66B | €2,132 | €2,326 | +€193 | +9.1% |
| Recurring financial charges | 65 | €2,132 | €2,326 | +€193 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €1,094,887 | €728,955 | -€365,931 | -33.4% |
| Income taxes | 67/77 | €128,888 | €95,630 | -€33,257 | -25.8% |
| Profit (loss) for the period | 9904 | €965,999 | €633,325 | -€332,674 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €965,999 | €633,325 | -€332,674 | -34.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.