AGM CONSTRUCTION: 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.
AGM CONSTRUCTION
Largest movements
- Tangible fixed assets +€17,830
up €17,830 (+125%), from €14,315 to €32,145
of which Furniture and vehicles: +€18,595
- Cash -€16,123
down €16,123 (-15.2%), from €106,168 to €90,045
mainly Investment in fixed assets (net) (-€28,030) and Trade debts (-€19,023)
- Stocks and contracts -€14,587
down €14,587 (-93.3%), from €15,627 to €1,040
of which Contracts in progress: -€13,746
- Debts after one year +€19,799
up €19,799 (+1,048%), from €1,890 to €21,689
- Trade debts -€19,023
down €19,023 (-42.9%), from €44,357 to €25,335
- Tax, wage and social debts -€5,379
down €5,379 (-21.3%), from €25,307 to €19,928
- Reserves -€5,098
down €5,098 (-13.3%), from €38,424 to €33,326
of which Distributable reserves: -€5,098
- Other debts -€2,918
down €2,918 (-22.2%), from €13,169 to €10,251
- Gross operating margin +€17,379
up €17,379 (+16.9%), from €103,064 to €120,443
- Staff costs +€13,366
up €13,366 (+15.7%), from €85,185 to €98,550
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 | €153,419 | €140,085 | -€13,334 | -8.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €14,315 | €32,145 | +€17,830 | +125% |
| Tangible fixed assets | 22/27 | €14,315 | €32,145 | +€17,830 | +125% |
| Plant, machinery and equipment | 23 | €2,259 | €1,494 | -€765 | -33.9% |
| Furniture and vehicles | 24 | €12,056 | €30,651 | +€18,595 | +154% |
| Current assets | 29/58 | €139,104 | €107,939 | -€31,164 | -22.4% |
| Stocks and contracts in progress | 3 | €15,627 | €1,040 | -€14,587 | -93.3% |
| Stocks | 30/36 | €1,881 | €1,040 | -€841 | -44.7% |
| Contracts in progress | 37 | €13,746 | €0 | -€13,746 | -100% |
| Amounts receivable within one year | 40/41 | €13,710 | €13,034 | -€675 | -4.9% |
| Trade receivables | 40 | €4,546 | €139 | -€4,407 | -96.9% |
| Other amounts receivable | 41 | €9,164 | €12,895 | +€3,731 | +40.7% |
| Cash at bank and in hand | 54/58 | €106,168 | €90,045 | -€16,123 | -15.2% |
| Deferred charges and accrued income | 490/1 | €3,599 | €3,820 | +€221 | +6.1% |
| Total equity and liabilities | 10/49 | €153,419 | €140,085 | -€13,334 | -8.7% |
| Equity | 10/15 | €61,179 | €56,082 | -€5,098 | -8.3% |
| Contributions | 10/11 | €9,200 | €9,200 | = | 0.0% |
| Reserves | 13 | €38,424 | €33,326 | -€5,098 | -13.3% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €33,424 | €28,326 | -€5,098 | -15.3% |
| Profit (loss) carried forward | 14 | €13,555 | €13,555 | = | 0.0% |
| Amounts payable | 17/49 | €92,240 | €84,003 | -€8,237 | -8.9% |
| Amounts payable after more than one year | 17 | €1,890 | €21,689 | +€19,799 | +1,048% |
| Financial debts | 170/4 | €1,890 | €21,689 | +€19,799 | +1,048% |
| Amounts payable within one year | 42/48 | €90,350 | €62,314 | -€28,036 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €7,517 | €6,801 | -€716 | -9.5% |
| Trade debts | 44 | €44,357 | €25,335 | -€19,023 | -42.9% |
| Suppliers | 440/4 | €44,357 | €25,335 | -€19,023 | -42.9% |
| Taxes, remuneration and social security | 45 | €25,307 | €19,928 | -€5,379 | -21.3% |
| Taxes | 450/3 | €25,307 | €19,928 | -€5,379 | -21.3% |
| Other amounts payable | 47/48 | €13,169 | €10,251 | -€2,918 | -22.2% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €85,185 | €98,550 | +€13,366 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,467 | €10,200 | +€734 | +7.8% |
| Other operating charges | 640/8 | €1,846 | €1,627 | -€219 | -11.9% |
| Gross operating margin | 9900 | €103,064 | €120,443 | +€17,379 | +16.9% |
| Operating profit (loss) | 9901 | €6,567 | €10,066 | +€3,499 | +53.3% |
| Financial income | 75/76B | €130 | €116 | -€14 | -11.0% |
| Recurring financial income | 75 | €130 | €116 | -€14 | -11.0% |
| Financial charges | 65/66B | €330 | €393 | +€64 | +19.4% |
| Recurring financial charges | 65 | €330 | €393 | +€64 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €6,367 | €9,788 | +€3,421 | +53.7% |
| Income taxes | 67/77 | €4,240 | €5,434 | +€1,195 | +28.2% |
| Profit (loss) for the period | 9904 | €2,128 | €4,354 | +€2,226 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €2,128 | €4,354 | +€2,226 | +105% |
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 14 October 2026 via checked.be.