AGM GLOBAL: 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 GLOBAL
Largest movements
- Tangible fixed assets -€61,448
down €61,448 (-4.5%), from €1.4m to €1.3m
of which Land and buildings: -€42,142
- Debts after one year -€85,186
down €85,186 (-7.4%), from €1.1m to €1.1m
of which Financial debts: -€85,186
- Trade debts +€26,883
up €26,883 (+158%), from €17,015 to €43,898
- Gross operating margin -€20,306
down €20,306 (-16.7%), from €121,901 to €101,595
- Taxes +€3,535
up €3,535 (+910%), from €388 to €3,924
- Depreciation -€3,522
down €3,522 (-5.2%), from €67,953 to €64,431
- Financial charges -€2,591
down €2,591 (-12.1%), from €21,429 to €18,837
of which Non-recurring financial charges: -€2,791
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 | €1,423,392 | €1,357,329 | -€66,063 | -4.6% |
| Fixed assets | 21/28 | €1,365,653 | €1,304,205 | -€61,448 | -4.5% |
| Tangible fixed assets | 22/27 | €1,365,653 | €1,304,205 | -€61,448 | -4.5% |
| Land and buildings | 22 | €1,277,973 | €1,235,831 | -€42,142 | -3.3% |
| Plant, machinery and equipment | 23 | €81,015 | €65,643 | -€15,372 | -19.0% |
| Furniture and vehicles | 24 | €6,666 | €2,731 | -€3,934 | -59.0% |
| Current assets | 29/58 | €57,739 | €53,124 | -€4,615 | -8.0% |
| Amounts receivable within one year | 40/41 | €53,589 | €45,948 | -€7,641 | -14.3% |
| Trade receivables | 40 | €50,109 | €45,517 | -€4,592 | -9.2% |
| Other amounts receivable | 41 | €3,480 | €431 | -€3,049 | -87.6% |
| Cash at bank and in hand | 54/58 | €3,926 | €6,747 | +€2,821 | +71.8% |
| Deferred charges and accrued income | 490/1 | €224 | €429 | +€205 | +91.7% |
| Total equity and liabilities | 10/49 | €1,423,392 | €1,357,329 | -€66,063 | -4.6% |
| Equity | 10/15 | €39,742 | €45,621 | +€5,879 | +14.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,258 | -€4,379 | +€5,879 | +57.3% |
| Amounts payable | 17/49 | €1,383,651 | €1,311,708 | -€71,942 | -5.2% |
| Amounts payable after more than one year | 17 | €1,147,706 | €1,062,519 | -€85,186 | -7.4% |
| Financial debts | 170/4 | €798,597 | €713,410 | -€85,186 | -10.7% |
| Other amounts payable | 178/9 | €349,109 | €349,109 | = | 0.0% |
| Amounts payable within one year | 42/48 | €230,807 | €249,189 | +€18,382 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €133,976 | €135,676 | +€1,700 | +1.3% |
| Trade debts | 44 | €17,015 | €43,898 | +€26,883 | +158% |
| Suppliers | 440/4 | €17,015 | €43,898 | +€26,883 | +158% |
| Taxes, remuneration and social security | 45 | €14,676 | €11,019 | -€3,657 | -24.9% |
| Taxes | 450/3 | €14,676 | €11,019 | -€3,657 | -24.9% |
| Other amounts payable | 47/48 | €65,141 | €58,596 | -€6,545 | -10.0% |
| Accrued charges and deferred income | 492/3 | €5,138 | - | -€5,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,953 | €64,431 | -€3,522 | -5.2% |
| Other operating charges | 640/8 | €9,709 | €8,524 | -€1,184 | -12.2% |
| Gross operating margin | 9900 | €121,901 | €101,595 | -€20,306 | -16.7% |
| Operating profit (loss) | 9901 | €44,240 | €28,640 | -€15,600 | -35.3% |
| Financial charges | 65/66B | €21,429 | €18,837 | -€2,591 | -12.1% |
| Recurring financial charges | 65 | €18,638 | €18,837 | +€199 | +1.1% |
| Non-recurring financial charges | 66B | €2,791 | - | -€2,791 | |
| Profit (loss) for the period before taxes | 9903 | €22,811 | €9,803 | -€13,008 | -57.0% |
| Income taxes | 67/77 | €388 | €3,924 | +€3,535 | +910% |
| Profit (loss) for the period | 9904 | €22,423 | €5,879 | -€16,544 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,423 | €5,879 | -€16,544 | -73.8% |
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.