AGM IMMO: 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 IMMO
Largest movements
- Receivables within one year -€17,275
down €17,275 (-36.3%), from €47,601 to €30,326
of which Other amounts receivable: -€9,906
- Cash -€2,767
down €2,767 (-20.3%), from €13,659 to €10,892
mainly Net result for the year (-€46,642) and Investment in fixed assets (net) (-€3,807)
- Intangible fixed assets +€2,500
new in 2025: €2,500
- Deferred charges and accrued income -€1,023
down €1,023 (-78.3%), from €1,306 to €283
- Tangible fixed assets -€693
down €693 (-24.5%), from €2,834 to €2,141
of which Other tangible fixed assets: -€658
- Profit (loss) carried forward -€46,642
down €46,642, from €984 to -€45,659
- Tax, wage and social debts +€17,755
up €17,755 (+111.8%), from €15,884 to €33,640
of which Remuneration and social security: +€16,379
- Trade debts +€9,090
up €9,090 (+66.4%), from €13,685 to €22,775
- Gross operating margin -€29,805
down €29,805 (-44.9%), from €66,408 to €36,603
- Staff costs +€16,278
up €16,278 (+26.1%), from €62,338 to €78,617
- Financial charges +€1,439
up €1,439 (+78.8%), from €1,825 to €3,264
- Depreciation -€1,086
down €1,086 (-35.2%), from €3,086 to €2,000
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 | €65,913 | €46,655 | -€19,258 | -29.2% |
| Fixed assets | 21/28 | €3,348 | €5,154 | +€1,807 | +54.0% |
| Intangible fixed assets | 21 | - | €2,500 | +€2,500 | |
| Tangible fixed assets | 22/27 | €2,834 | €2,141 | -€693 | -24.5% |
| Furniture and vehicles | 24 | €1,001 | €966 | -€35 | -3.5% |
| Other tangible fixed assets | 26 | €1,833 | €1,176 | -€658 | -35.9% |
| Financial fixed assets | 28 | €513 | €513 | = | 0.0% |
| Current assets | 29/58 | €62,566 | €41,501 | -€21,065 | -33.7% |
| Amounts receivable within one year | 40/41 | €47,601 | €30,326 | -€17,275 | -36.3% |
| Trade receivables | 40 | €9,369 | €2,000 | -€7,369 | -78.7% |
| Other amounts receivable | 41 | €38,232 | €28,326 | -€9,906 | -25.9% |
| Cash at bank and in hand | 54/58 | €13,659 | €10,892 | -€2,767 | -20.3% |
| Deferred charges and accrued income | 490/1 | €1,306 | €283 | -€1,023 | -78.3% |
| Total equity and liabilities | 10/49 | €65,913 | €46,655 | -€19,258 | -29.2% |
| Equity | 10/15 | €36,344 | -€10,299 | -€46,642 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €25,360 | €25,360 | = | 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 | €23,500 | €23,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €984 | -€45,659 | -€46,642 | |
| Amounts payable | 17/49 | €29,570 | €56,954 | +€27,384 | +92.6% |
| Amounts payable within one year | 42/48 | €29,570 | €56,415 | +€26,845 | +90.8% |
| Trade debts | 44 | €13,685 | €22,775 | +€9,090 | +66.4% |
| Suppliers | 440/4 | €13,685 | €22,775 | +€9,090 | +66.4% |
| Taxes, remuneration and social security | 45 | €15,884 | €33,640 | +€17,755 | +111.8% |
| Taxes | 450/3 | €6,605 | €7,981 | +€1,376 | +20.8% |
| Remuneration and social security | 454/9 | €9,279 | €25,658 | +€16,379 | +176.5% |
| Accrued charges and deferred income | 492/3 | - | €539 | +€539 | |
| Remuneration, social security and pensions | 62 | €62,338 | €78,617 | +€16,278 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,086 | €2,000 | -€1,086 | -35.2% |
| Other operating charges | 640/8 | €1,401 | €1,087 | -€314 | -22.4% |
| Gross operating margin | 9900 | €66,408 | €36,603 | -€29,805 | -44.9% |
| Operating profit (loss) | 9901 | -€418 | -€45,101 | -€44,683 | -10698.2% |
| Financial income | 75/76B | €1,995 | €1,939 | -€56 | -2.8% |
| Recurring financial income | 75 | €1,995 | €1,939 | -€56 | -2.8% |
| Financial charges | 65/66B | €1,825 | €3,264 | +€1,439 | +78.8% |
| Recurring financial charges | 65 | €1,825 | €3,264 | +€1,439 | +78.8% |
| Profit (loss) for the period before taxes | 9903 | -€248 | -€46,426 | -€46,178 | -18615.8% |
| Income taxes | 67/77 | €220 | €216 | -€5 | -2.1% |
| Profit (loss) for the period | 9904 | -€468 | -€46,642 | -€46,174 | -9859.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€468 | -€46,642 | -€46,174 | -9859.7% |
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 9 October 2026 via checked.be.