AGS: 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.
AGS
Largest movements
- Cash -€66,658
down €66,658 (-16.9%), from €394,432 to €327,774
mainly Contributions, distributions and other (-€63,404) and Receivables within one year (-€60,922)
- Receivables within one year +€60,922
up €60,922 (+36.5%), from €166,754 to €227,676
of which Trade receivables: +€111,922
- Tangible fixed assets -€7,489
down €7,489 (-8.4%), from €88,943 to €81,454
of which Other tangible fixed assets: -€4,456
- Reserves -€77,853
down €77,853 (-12.8%), from €609,719 to €531,866
- Trade debts +€37,909
up €37,909 (+1,064%), from €3,563 to €41,472
- Tax, wage and social debts +€11,371
up €11,371 (+105%), from €10,781 to €22,152
- Other debts +€10,664
new in 2025: €10,664
- Gross operating margin +€62,029
up €62,029, from -€30,028 to €32,001
- Write-downs +€41,625
no longer reported in 2025 (was -€41,625)
- Other operating charges +€29,960
up €29,960 (+4,336%), from €691 to €30,651
- Financial income -€9,586
no longer reported in 2025 (was €9,586)
- Taxes -€1,449
down €1,449 (-91.1%), from €1,590 to €141
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 | €670,063 | €652,154 | -€17,909 | -2.7% |
| Fixed assets | 21/28 | €88,943 | €81,454 | -€7,489 | -8.4% |
| Tangible fixed assets | 22/27 | €88,943 | €81,454 | -€7,489 | -8.4% |
| Land and buildings | 22 | €35,348 | €34,502 | -€846 | -2.4% |
| Plant, machinery and equipment | 23 | €18,802 | €19,167 | +€365 | +1.9% |
| Furniture and vehicles | 24 | €11,156 | €8,604 | -€2,552 | -22.9% |
| Other tangible fixed assets | 26 | €23,637 | €19,181 | -€4,456 | -18.9% |
| Current assets | 29/58 | €581,120 | €570,700 | -€10,420 | -1.8% |
| Amounts receivable within one year | 40/41 | €166,754 | €227,676 | +€60,922 | +36.5% |
| Trade receivables | 40 | €102,345 | €214,267 | +€111,922 | +109% |
| Other amounts receivable | 41 | €64,409 | €13,409 | -€51,000 | -79.2% |
| Cash at bank and in hand | 54/58 | €394,432 | €327,774 | -€66,658 | -16.9% |
| Deferred charges and accrued income | 490/1 | €19,934 | €15,250 | -€4,684 | -23.5% |
| Total equity and liabilities | 10/49 | €670,063 | €652,154 | -€17,909 | -2.7% |
| Equity | 10/15 | €655,719 | €577,866 | -€77,853 | -11.9% |
| Contributions | 10/11 | €46,000 | €46,000 | = | 0.0% |
| Reserves | 13 | €609,719 | €531,866 | -€77,853 | -12.8% |
| Distributable reserves | 133 | €609,719 | €531,866 | -€77,853 | -12.8% |
| Amounts payable | 17/49 | €14,344 | €74,288 | +€59,944 | +418% |
| Amounts payable within one year | 42/48 | €14,344 | €74,288 | +€59,944 | +418% |
| Trade debts | 44 | €3,563 | €41,472 | +€37,909 | +1,064% |
| Suppliers | 440/4 | €3,563 | €41,472 | +€37,909 | +1,064% |
| Taxes, remuneration and social security | 45 | €10,781 | €22,152 | +€11,371 | +105% |
| Taxes | 450/3 | €10,781 | €22,152 | +€11,371 | +105% |
| Other amounts payable | 47/48 | - | €10,664 | +€10,664 | |
| Non-recurring operating income | 76A | - | €20,202 | +€20,202 | |
| Remuneration, social security and pensions | 62 | €1,093 | - | -€1,093 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,519 | €14,005 | +€486 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€41,625 | - | +€41,625 | |
| Other operating charges | 640/8 | €691 | €30,651 | +€29,960 | +4,336% |
| Gross operating margin | 9900 | -€30,028 | €32,001 | +€62,029 | |
| Operating profit (loss) | 9901 | -€3,706 | -€12,655 | -€8,949 | -241% |
| Financial income | 75/76B | €9,586 | - | -€9,586 | |
| Recurring financial income | 75 | €9,586 | - | -€9,586 | |
| Financial charges | 65/66B | €2,170 | €1,653 | -€517 | -23.8% |
| Recurring financial charges | 65 | €2,170 | €1,653 | -€517 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €3,710 | -€14,308 | -€18,018 | |
| Income taxes | 67/77 | €1,590 | €141 | -€1,449 | -91.1% |
| Profit (loss) for the period | 9904 | €2,120 | -€14,449 | -€16,569 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,120 | -€14,449 | -€16,569 |
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 19 October 2026 via checked.be.