AGEXIM: 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.
AGEXIM
Largest movements
- Cash +€143,067
up €143,067 (+143.2%), from €99,919 to €242,986
mainly Net result for the year (+€106,871) and Receivables within one year (+€75,390)
- Tangible fixed assets +€94,128
up €94,128 (+16.2%), from €579,367 to €673,495
of which Furniture and vehicles: +€143,960
- Receivables within one year -€75,390
down €75,390 (-19.4%), from €389,014 to €313,624
of which Other amounts receivable: -€84,766
- Profit (loss) carried forward +€106,871
up €106,871 (+57.9%), from €184,665 to €291,536
- Debts after one year +€56,997
up €56,997 (+10.0%), from €571,107 to €628,104
- Trade debts -€27,228
down €27,228 (-68.8%), from €39,547 to €12,319
- Gross operating margin +€50,572
up €50,572 (+18.3%), from €276,398 to €326,970
- Other operating charges -€24,109
down €24,109 (-69.4%), from €34,744 to €10,635
- Taxes +€16,536
up €16,536 (+47.3%), from €34,968 to €51,504
- Depreciation +€10,421
up €10,421 (+17.6%), from €59,314 to €69,735
- Staff costs -€7,294
down €7,294 (-9.0%), from €80,902 to €73,608
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 | €1,112,344 | €1,270,738 | +€158,394 | +14.2% |
| Fixed assets | 21/28 | €581,467 | €675,595 | +€94,128 | +16.2% |
| Tangible fixed assets | 22/27 | €579,367 | €673,495 | +€94,128 | +16.2% |
| Plant, machinery and equipment | 23 | €1,378 | €4,944 | +€3,566 | +258.7% |
| Furniture and vehicles | 24 | €14,727 | €158,687 | +€143,960 | +977.5% |
| Leasing and similar rights | 25 | €556,353 | €504,682 | -€51,671 | -9.3% |
| Assets under construction and advance payments | 27 | €6,909 | €5,182 | -€1,727 | -25.0% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €530,877 | €595,143 | +€64,266 | +12.1% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €389,014 | €313,624 | -€75,390 | -19.4% |
| Trade receivables | 40 | €32,473 | €41,850 | +€9,377 | +28.9% |
| Other amounts receivable | 41 | €356,541 | €271,774 | -€84,766 | -23.8% |
| Cash at bank and in hand | 54/58 | €99,919 | €242,986 | +€143,067 | +143.2% |
| Deferred charges and accrued income | 490/1 | €11,944 | €8,532 | -€3,411 | -28.6% |
| Total equity and liabilities | 10/49 | €1,112,344 | €1,270,738 | +€158,394 | +14.2% |
| Equity | 10/15 | €346,388 | €453,259 | +€106,871 | +30.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €155,524 | €155,524 | = | 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 | €153,664 | €153,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,665 | €291,536 | +€106,871 | +57.9% |
| Amounts payable | 17/49 | €765,956 | €817,479 | +€51,523 | +6.7% |
| Amounts payable after more than one year | 17 | €571,107 | €628,104 | +€56,997 | +10.0% |
| Financial debts | 170/4 | €571,107 | €628,104 | +€56,997 | +10.0% |
| Amounts payable within one year | 42/48 | €190,265 | €184,433 | -€5,832 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €70,662 | €82,334 | +€11,671 | +16.5% |
| Trade debts | 44 | €39,547 | €12,319 | -€27,228 | -68.8% |
| Suppliers | 440/4 | €39,547 | €12,319 | -€27,228 | -68.8% |
| Taxes, remuneration and social security | 45 | €80,056 | €89,780 | +€9,724 | +12.1% |
| Taxes | 450/3 | €62,919 | €79,749 | +€16,829 | +26.7% |
| Remuneration and social security | 454/9 | €17,137 | €10,031 | -€7,105 | -41.5% |
| Accrued charges and deferred income | 492/3 | €4,584 | €4,942 | +€358 | +7.8% |
| Remuneration, social security and pensions | 62 | €80,902 | €73,608 | -€7,294 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,314 | €69,735 | +€10,421 | +17.6% |
| Other operating charges | 640/8 | €34,744 | €10,635 | -€24,109 | -69.4% |
| Gross operating margin | 9900 | €276,398 | €326,970 | +€50,572 | +18.3% |
| Operating profit (loss) | 9901 | €101,437 | €172,991 | +€71,554 | +70.5% |
| Financial income | 75/76B | €9,259 | €14,256 | +€4,998 | +54.0% |
| Recurring financial income | 75 | €9,259 | €14,256 | +€4,998 | +54.0% |
| Financial charges | 65/66B | €34,112 | €28,872 | -€5,240 | -15.4% |
| Recurring financial charges | 65 | €34,112 | €28,872 | -€5,240 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €76,584 | €158,375 | +€81,791 | +106.8% |
| Income taxes | 67/77 | €34,968 | €51,504 | +€16,536 | +47.3% |
| Profit (loss) for the period | 9904 | €41,616 | €106,871 | +€65,255 | +156.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,616 | €106,871 | +€65,255 | +156.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.