AGS: 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.
AGS
Largest movements
- Stocks and contracts +€7,522
new in 2025: €7,522
- Tangible fixed assets -€5,904
down €5,904 (-74.0%), from €7,983 to €2,078
of which Furniture and vehicles: -€6,822
- Receivables within one year +€4,459
up €4,459 (+236.4%), from €1,886 to €6,345
of which Trade receivables: +€5,095
- Cash -€4,329
down €4,329 (-28.4%), from €15,232 to €10,903
mainly Stocks and contracts (-€7,522) and Receivables within one year (-€4,459)
- Tax, wage and social debts +€2,537
up €2,537 (+1522.2%), from €167 to €2,704
- Other debts -€877
down €877 (-5.8%), from €15,141 to €14,263
- Gross operating margin -€7,859
down €7,859 (-48.5%), from €16,206 to €8,346
- Depreciation -€7,539
down €7,539 (-49.6%), from €15,203 to €7,664
- Staff costs -€435
no longer reported in 2025 (was €435)
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 | €25,685 | €27,501 | +€1,816 | +7.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,983 | €2,078 | -€5,904 | -74.0% |
| Tangible fixed assets | 22/27 | €7,983 | €2,078 | -€5,904 | -74.0% |
| Land and buildings | 22 | €305 | €192 | -€113 | -37.0% |
| Plant, machinery and equipment | 23 | €856 | €1,886 | +€1,030 | +120.4% |
| Furniture and vehicles | 24 | €6,822 | €0 | -€6,822 | -100.0% |
| Current assets | 29/58 | €17,702 | €25,423 | +€7,721 | +43.6% |
| Stocks and contracts in progress | 3 | - | €7,522 | +€7,522 | |
| Contracts in progress | 37 | - | €7,522 | +€7,522 | |
| Amounts receivable within one year | 40/41 | €1,886 | €6,345 | +€4,459 | +236.4% |
| Trade receivables | 40 | €1,250 | €6,345 | +€5,095 | +407.6% |
| Other amounts receivable | 41 | €636 | - | -€636 | |
| Cash at bank and in hand | 54/58 | €15,232 | €10,903 | -€4,329 | -28.4% |
| Deferred charges and accrued income | 490/1 | €584 | €653 | +€69 | +11.8% |
| Total equity and liabilities | 10/49 | €25,685 | €27,501 | +€1,816 | +7.1% |
| Equity | 10/15 | -€30,728 | -€30,691 | +€37 | +0.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,728 | -€42,691 | +€37 | +0.1% |
| Amounts payable | 17/49 | €56,413 | €58,192 | +€1,779 | +3.2% |
| Amounts payable after more than one year | 17 | €41,000 | €41,000 | = | 0.0% |
| Financial debts | 170/4 | €41,000 | €41,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,413 | €17,192 | +€1,779 | +11.5% |
| Trade debts | 44 | €106 | €224 | +€119 | +112.4% |
| Suppliers | 440/4 | €106 | €224 | +€119 | +112.4% |
| Taxes, remuneration and social security | 45 | €167 | €2,704 | +€2,537 | +1522.2% |
| Taxes | 450/3 | €167 | €2,704 | +€2,537 | +1522.2% |
| Other amounts payable | 47/48 | €15,141 | €14,263 | -€877 | -5.8% |
| Remuneration, social security and pensions | 62 | €435 | - | -€435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,203 | €7,664 | -€7,539 | -49.6% |
| Other operating charges | 640/8 | €403 | €414 | +€11 | +2.7% |
| Gross operating margin | 9900 | €16,206 | €8,346 | -€7,859 | -48.5% |
| Operating profit (loss) | 9901 | €164 | €268 | +€104 | +63.1% |
| Financial income | 75/76B | €136 | €18 | -€118 | -86.7% |
| Recurring financial income | 75 | €136 | €18 | -€118 | -86.7% |
| Financial charges | 65/66B | €62 | €86 | +€24 | +38.1% |
| Recurring financial charges | 65 | €62 | €86 | +€24 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €239 | €201 | -€38 | -16.0% |
| Income taxes | 67/77 | €167 | €163 | -€3 | -2.1% |
| Profit (loss) for the period | 9904 | €72 | €37 | -€35 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72 | €37 | -€35 | -48.1% |
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 29 September 2026 via checked.be.