AGKM: 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.
AGKM
Largest movements
- Cash -€47,826
down €47,826 (-87.1%), from €54,908 to €7,082
mainly Contributions, distributions and other (-€90,000) and Current investments (-€40,000)
- Current investments +€40,000
new in 2025: €40,000
- Receivables within one year -€26,316
down €26,316 (-93.5%), from €28,133 to €1,817
of which Trade receivables: -€26,318
- Tangible fixed assets -€6,166
down €6,166 (-24.1%), from €25,574 to €19,408
of which Plant, machinery and equipment: -€4,990
- Profit (loss) carried forward -€50,948
down €50,948 (-52.0%), from €97,982 to €47,035
- Tax, wage and social debts +€10,833
up €10,833 (+155%), from €6,967 to €17,799
of which Taxes: +€10,833
- Taxes +€3,765
up €3,765 (+35.1%), from €10,734 to €14,499
- Gross operating margin +€996
up €996 (+1.7%), from €59,684 to €60,680
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.
Derived cash bridge
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 | €108,614 | €68,307 | -€40,307 | -37.1% |
| Fixed assets | 21/28 | €25,574 | €19,408 | -€6,166 | -24.1% |
| Tangible fixed assets | 22/27 | €25,574 | €19,408 | -€6,166 | -24.1% |
| Land and buildings | 22 | €7,790 | €6,842 | -€948 | -12.2% |
| Plant, machinery and equipment | 23 | €17,556 | €12,567 | -€4,990 | -28.4% |
| Furniture and vehicles | 24 | €228 | €0 | -€228 | -100% |
| Current assets | 29/58 | €83,040 | €48,899 | -€34,142 | -41.1% |
| Amounts receivable within one year | 40/41 | €28,133 | €1,817 | -€26,316 | -93.5% |
| Trade receivables | 40 | €28,133 | €1,815 | -€26,318 | -93.5% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €54,908 | €7,082 | -€47,826 | -87.1% |
| Total equity and liabilities | 10/49 | €108,614 | €68,307 | -€40,307 | -37.1% |
| Equity | 10/15 | €99,982 | €49,035 | -€50,948 | -51.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,982 | €47,035 | -€50,948 | -52.0% |
| Amounts payable | 17/49 | €8,632 | €19,272 | +€10,640 | +123% |
| Amounts payable within one year | 42/48 | €8,632 | €19,272 | +€10,640 | +123% |
| Trade debts | 44 | €866 | €913 | +€48 | +5.5% |
| Suppliers | 440/4 | €866 | €913 | +€48 | +5.5% |
| Taxes, remuneration and social security | 45 | €6,967 | €17,799 | +€10,833 | +155% |
| Taxes | 450/3 | €5,367 | €16,199 | +€10,833 | +202% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €800 | €560 | -€240 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,859 | €6,166 | +€307 | +5.2% |
| Other operating charges | 640/8 | €761 | €778 | +€16 | +2.1% |
| Gross operating margin | 9900 | €59,684 | €60,680 | +€996 | +1.7% |
| Operating profit (loss) | 9901 | €53,064 | €53,737 | +€672 | +1.3% |
| Financial charges | 65/66B | €153 | €185 | +€32 | +20.9% |
| Recurring financial charges | 65 | €153 | €185 | +€32 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €52,911 | €53,552 | +€641 | +1.2% |
| Income taxes | 67/77 | €10,734 | €14,499 | +€3,765 | +35.1% |
| Profit (loss) for the period | 9904 | €42,177 | €39,052 | -€3,125 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,177 | €39,052 | -€3,125 | -7.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.