AGESMA: 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.
AGESMA
Largest movements
- Tangible fixed assets -€5,665
down €5,665 (-12.6%), from €45,044 to €39,378
of which Land and buildings: -€5,126
- Cash +€2,635
up €2,635 (+7153.9%), from €37 to €2,672
mainly Debts after one year (+€30,000) and Depreciation (+€5,665)
- Debts after one year +€30,000
up €30,000 (+46.2%), from €65,000 to €95,000
- Other debts -€27,628
down €27,628 (-63.9%), from €43,269 to €15,641
- Profit (loss) carried forward -€5,014
down €5,014 (-3.8%), from -€132,056 to -€137,070
- Trade debts -€2,070
down €2,070 (-83.8%), from €2,469 to €400
- Accrued charges and deferred income +€1,899
new in 2025: €1,899
- Gross operating margin +€8,383
up €8,383, from -€540 to €7,843
- Other operating charges +€4,952
up €4,952 (+274.1%), from €1,807 to €6,759
- Financial charges +€231
up €231 (+114.2%), from €202 to €433
- Depreciation +€143
up €143 (+2.6%), from €5,522 to €5,665
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 | €47,072 | €44,041 | -€3,031 | -6.4% |
| Fixed assets | 21/28 | €45,688 | €40,023 | -€5,665 | -12.4% |
| Tangible fixed assets | 22/27 | €45,044 | €39,378 | -€5,665 | -12.6% |
| Land and buildings | 22 | €41,929 | €36,803 | -€5,126 | -12.2% |
| Plant, machinery and equipment | 23 | €3,115 | €2,576 | -€539 | -17.3% |
| Financial fixed assets | 28 | €645 | €645 | = | 0.0% |
| Current assets | 29/58 | €1,383 | €4,018 | +€2,635 | +190.5% |
| Cash at bank and in hand | 54/58 | €37 | €2,672 | +€2,635 | +7153.9% |
| Deferred charges and accrued income | 490/1 | €1,346 | €1,346 | = | 0.0% |
| Total equity and liabilities | 10/49 | €47,072 | €44,041 | -€3,031 | -6.4% |
| Equity | 10/15 | -€63,885 | -€68,899 | -€5,014 | -7.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,056 | -€137,070 | -€5,014 | -3.8% |
| Amounts payable | 17/49 | €110,957 | €112,940 | +€1,983 | +1.8% |
| Amounts payable after more than one year | 17 | €65,000 | €95,000 | +€30,000 | +46.2% |
| Financial debts | 170/4 | €65,000 | €95,000 | +€30,000 | +46.2% |
| Amounts payable within one year | 42/48 | €45,957 | €16,041 | -€29,916 | -65.1% |
| Financial debts | 43 | €218 | €0 | -€218 | -100.0% |
| Credit institutions | 430/8 | €218 | €0 | -€218 | -100.0% |
| Trade debts | 44 | €2,469 | €400 | -€2,070 | -83.8% |
| Suppliers | 440/4 | €2,469 | €400 | -€2,070 | -83.8% |
| Other amounts payable | 47/48 | €43,269 | €15,641 | -€27,628 | -63.9% |
| Accrued charges and deferred income | 492/3 | - | €1,899 | +€1,899 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,522 | €5,665 | +€143 | +2.6% |
| Other operating charges | 640/8 | €1,807 | €6,759 | +€4,952 | +274.1% |
| Gross operating margin | 9900 | -€540 | €7,843 | +€8,383 | |
| Operating profit (loss) | 9901 | -€7,869 | -€4,581 | +€3,288 | +41.8% |
| Financial charges | 65/66B | €202 | €433 | +€231 | +114.2% |
| Recurring financial charges | 65 | €202 | €433 | +€231 | +114.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,071 | -€5,014 | +€3,057 | +37.9% |
| Profit (loss) for the period | 9904 | -€8,071 | -€5,014 | +€3,057 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,071 | -€5,014 | +€3,057 | +37.9% |
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 4 October 2026 via checked.be.