AGIEL: 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.
AGIEL
Largest movements
- Cash +€71,508
up €71,508 (+66.0%), from €108,394 to €179,902
mainly Net result for the year (+€74,470) and Tax, wage and social debts (+€6,925)
- Receivables within one year +€12,064
up €12,064 (+373.9%), from €3,226 to €15,290
of which Trade receivables: +€12,278
- Tangible fixed assets -€2,512
down €2,512 (-20.4%), from €12,317 to €9,805
of which Furniture and vehicles: -€2,489
- Reserves +€74,470
up €74,470 (+72.0%), from €103,485 to €177,955
- Tax, wage and social debts +€6,925
up €6,925 (+47.1%), from €14,691 to €21,616
- Gross operating margin +€35,820
up €35,820 (+57.5%), from €62,266 to €98,086
- Taxes +€6,925
up €6,925 (+56.5%), from €12,261 to €19,186
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 | €125,290 | €206,409 | +€81,119 | +64.7% |
| Fixed assets | 21/28 | €12,317 | €9,805 | -€2,512 | -20.4% |
| Tangible fixed assets | 22/27 | €12,317 | €9,805 | -€2,512 | -20.4% |
| Plant, machinery and equipment | 23 | €1,850 | €1,827 | -€23 | -1.2% |
| Furniture and vehicles | 24 | €10,467 | €7,978 | -€2,489 | -23.8% |
| Current assets | 29/58 | €112,973 | €196,604 | +€83,631 | +74.0% |
| Amounts receivable within one year | 40/41 | €3,226 | €15,290 | +€12,064 | +373.9% |
| Trade receivables | 40 | €2,640 | €14,918 | +€12,278 | +465.1% |
| Other amounts receivable | 41 | €586 | €371 | -€215 | -36.7% |
| Cash at bank and in hand | 54/58 | €108,394 | €179,902 | +€71,508 | +66.0% |
| Deferred charges and accrued income | 490/1 | €1,353 | €1,413 | +€60 | +4.4% |
| Total equity and liabilities | 10/49 | €125,290 | €206,409 | +€81,119 | +64.7% |
| Equity | 10/15 | €107,485 | €181,955 | +€74,470 | +69.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €103,485 | €177,955 | +€74,470 | +72.0% |
| Distributable reserves | 133 | €103,485 | €177,955 | +€74,470 | +72.0% |
| Amounts payable | 17/49 | €17,805 | €24,454 | +€6,649 | +37.3% |
| Amounts payable within one year | 42/48 | €17,805 | €24,454 | +€6,649 | +37.3% |
| Trade debts | 44 | €435 | €647 | +€211 | +48.5% |
| Suppliers | 440/4 | €435 | €647 | +€211 | +48.5% |
| Taxes, remuneration and social security | 45 | €14,691 | €21,616 | +€6,925 | +47.1% |
| Taxes | 450/3 | €14,691 | €21,616 | +€6,925 | +47.1% |
| Other amounts payable | 47/48 | €2,678 | €2,191 | -€487 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,540 | €3,431 | +€891 | +35.1% |
| Other operating charges | 640/8 | €451 | €691 | +€240 | +53.2% |
| Gross operating margin | 9900 | €62,266 | €98,086 | +€35,820 | +57.5% |
| Operating profit (loss) | 9901 | €59,275 | €93,964 | +€34,689 | +58.5% |
| Financial charges | 65/66B | €245 | €308 | +€63 | +25.5% |
| Recurring financial charges | 65 | €245 | €308 | +€63 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €59,030 | €93,656 | +€34,626 | +58.7% |
| Income taxes | 67/77 | €12,261 | €19,186 | +€6,925 | +56.5% |
| Profit (loss) for the period | 9904 | €46,769 | €74,470 | +€27,701 | +59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,769 | €74,470 | +€27,701 | +59.2% |
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 3 October 2026 via checked.be.