AGMA: 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.
What changed
AGMA
NACE 81.100, Combined facilities support activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€31,677
2024 · €6,451+€25,226
Equity
€891,068
2024 · €859,391+€31,677
Cash
€12,853
2024 · €22,046-€9,193
Balance sheet total
€1.7m
2024 · €1.8m-€68,439
Largest movements
Assets
- Tangible fixed assets -€67,614
down €67,614 (-3.9%), from €1.7m to €1.7m
of which Leasing and similar rights: -€36,891
Equity and liabilities
- Debts after one year -€101,947
down €101,947 (-22.4%), from €455,713 to €353,766
- Reserves +€31,677
up €31,677 (+30.0%), from €105,589 to €137,266
of which Distributable reserves: +€21,703
- Advances received -€21,921
down €21,921 (-100.0%), from €21,921 to €0
Income statement
- Gross operating margin +€32,988
up €32,988 (+21.2%), from €155,259 to €188,247
- Taxes +€11,646
up €11,646 (+363.1%), from €3,208 to €14,853
- Financial charges -€3,752
down €3,752 (-12.0%), from €31,148 to €27,397
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.
Result 2024
€6,451
Gross operating margin
+€32,988
Depreciation
+€701
Other operating charges
-€569
Financial income
+€0
Financial charges
+€3,752
Taxes
-€11,646
Result 2025
€31,677
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.
From operations
+€111,226
Investment
-€22,428
Financing
-€97,991
Cash 2024
€22,046
From operations (derived)
+€111,226
Net result for the year
+€31,677
Depreciation
+€90,042
Receivables within one year
-€8,125
Smaller working-capital items
-€158
Tax, wage and social debts
+€11,418
Advances received
-€21,921
Other debts
+€4,732
Accrued charges and deferred income
+€3,562
Investment (derived)
-€22,428
Investment in fixed assets (net)
-€22,428
Financing
-€97,991
Debts after one year
-€101,947
Current portion of long-term debt
+€3,956
Cash 2025
€12,853
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,775,031 | €1,706,591 | -€68,439 | -3.9% |
| Fixed assets | 21/28 | €1,725,226 | €1,657,612 | -€67,614 | -3.9% |
| Tangible fixed assets | 22/27 | €1,724,785 | €1,657,170 | -€67,614 | -3.9% |
| Land and buildings | 22 | €1,582,316 | €1,556,970 | -€25,346 | -1.6% |
| Plant, machinery and equipment | 23 | €27,603 | €15,635 | -€11,968 | -43.4% |
| Furniture and vehicles | 24 | €4,216 | €10,808 | +€6,591 | +156.3% |
| Leasing and similar rights | 25 | €110,649 | €73,758 | -€36,891 | -33.3% |
| Financial fixed assets | 28 | €441 | €441 | = | 0.0% |
| Current assets | 29/58 | €49,804 | €48,979 | -€825 | -1.7% |
| Amounts receivable within one year | 40/41 | €22,962 | €31,087 | +€8,125 | +35.4% |
| Trade receivables | 40 | €18,204 | €31,087 | +€12,883 | +70.8% |
| Other amounts receivable | 41 | €4,758 | €0 | -€4,758 | -100.0% |
| Cash at bank and in hand | 54/58 | €22,046 | €12,853 | -€9,193 | -41.7% |
| Deferred charges and accrued income | 490/1 | €4,797 | €5,039 | +€242 | +5.1% |
| Total equity and liabilities | 10/49 | €1,775,031 | €1,706,591 | -€68,439 | -3.9% |
| Equity | 10/15 | €859,391 | €891,068 | +€31,677 | +3.7% |
| Contributions | 10/11 | €135,102 | €135,102 | = | 0.0% |
| Capital | 10 | €135,102 | €135,102 | = | 0.0% |
| Issued capital | 100 | €135,102 | €135,102 | = | 0.0% |
| Revaluation surpluses | 12 | €618,700 | €618,700 | = | 0.0% |
| Reserves | 13 | €105,589 | €137,266 | +€31,677 | +30.0% |
| Non-distributable reserves | 130/1 | €3,536 | €13,510 | +€9,974 | +282.1% |
| Legal reserve | 130 | €3,536 | €13,510 | +€9,974 | +282.1% |
| Distributable reserves | 133 | €102,053 | €123,756 | +€21,703 | +21.3% |
| Amounts payable | 17/49 | €915,639 | €815,523 | -€100,116 | -10.9% |
| Amounts payable after more than one year | 17 | €455,713 | €353,766 | -€101,947 | -22.4% |
| Financial debts | 170/4 | €455,713 | €353,766 | -€101,947 | -22.4% |
| Amounts payable within one year | 42/48 | €430,923 | €429,193 | -€1,730 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €98,712 | €102,669 | +€3,956 | +4.0% |
| Trade debts | 44 | €3,090 | €3,174 | +€84 | +2.7% |
| Suppliers | 440/4 | €3,090 | €3,174 | +€84 | +2.7% |
| Advances received on contracts in progress | 46 | €21,921 | €0 | -€21,921 | -100.0% |
| Taxes, remuneration and social security | 45 | €691 | €12,110 | +€11,418 | +1651.3% |
| Taxes | 450/3 | €691 | €12,110 | +€11,418 | +1651.3% |
| Other amounts payable | 47/48 | €306,508 | €311,240 | +€4,732 | +1.5% |
| Accrued charges and deferred income | 492/3 | €29,003 | €32,565 | +€3,562 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,743 | €90,042 | -€701 | -0.8% |
| Other operating charges | 640/8 | €23,710 | €24,279 | +€569 | +2.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €155,259 | €188,247 | +€32,988 | +21.2% |
| Operating profit (loss) | 9901 | €40,807 | €73,926 | +€33,120 | +81.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +233.3% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +233.3% |
| Financial charges | 65/66B | €31,148 | €27,397 | -€3,752 | -12.0% |
| Recurring financial charges | 65 | €31,148 | €27,397 | -€3,752 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €9,658 | €46,530 | +€36,872 | +381.8% |
| Income taxes | 67/77 | €3,208 | €14,853 | +€11,646 | +363.1% |
| Profit (loss) for the period | 9904 | €6,451 | €31,677 | +€25,226 | +391.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,451 | €31,677 | +€25,226 | +391.1% |
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 1 October 2026 via checked.be.