AGSB Trading: 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.
What changed
AGSB Trading
NACE 46.120, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €1.9m+€513,968
Equity
€7.8m
2024 · €6.5m+€1.2m
Cash
€63,144
2024 · €261,965-€198,821
Balance sheet total
€44.5m
2024 · €50.9m-€6.4m
Largest movements
Assets
- Receivables within one year -€5.8m
down €5.8m (-11.5%), from €50.2m to €44.4m
of which Trade receivables: -€5.8m
Equity and liabilities
- Short-term financial debts -€8.8m
down €8.8m (-21.7%), from €40.4m to €31.6m
- Trade debts +€1.3m
up €1.3m (+70.1%), from €1.9m to €3.2m
- Reserves +€1.2m
up €1.2m (+20.1%), from €6.0m to €7.3m
of which Distributable reserves: +€1.2m
Income statement
- Turnover +€41.4m
up €41.4m (+40.3%), from €102.9m to €144.3m
- Goods and materials +€39.1m
up €39.1m (+41.5%), from €94.1m to €133.2m
- Financial charges +€1.6m
up €1.6m (+61.2%), from €2.6m to €4.2m
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
€1.9m
Turnover
+€41.4m
Other operating income
+€824,335
Goods and materials
-€39.1m
Services and other goods
-€886,582
Staff costs
-€9,354
Depreciation
+€5,450
Write-downs
+€8,295
Other operating charges
+€272,017
Other operating items
+€653
Financial income
-€690,142
Financial charges
-€1.6m
Taxes
+€275,141
Result 2025
€2.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.7m
Investment
+€154
Financing
-€9.9m
Cash 2024
€261,965
From operations (derived)
+€9.7m
Net result for the year
+€2.4m
Depreciation
+€12,673
Stocks and contracts
-€2,254
Receivables within one year
+€5.8m
Deferred charges and accrued income
+€387,803
Trade debts
+€1.3m
Tax, wage and social debts
+€143,629
Other debts
-€175,111
Accrued charges and deferred income
-€144,000
Investment (derived)
+€154
Current investments
+€154
Financing
-€9.9m
Short-term financial debts
-€8.8m
Contributions, distributions and other
-€1.2m
Cash 2025
€63,144
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,870,803 | €44,485,153 | -€6.4m | -12.6% |
| Fixed assets | 21/28 | €57,965 | €45,292 | -€12,673 | -21.9% |
| Tangible fixed assets | 22/27 | €57,965 | €45,292 | -€12,673 | -21.9% |
| Furniture and vehicles | 24 | €24,784 | €18,518 | -€6,266 | -25.3% |
| Other tangible fixed assets | 26 | €33,181 | €26,774 | -€6,407 | -19.3% |
| Current assets | 29/58 | €50,812,837 | €44,439,861 | -€6.4m | -12.5% |
| Stocks and contracts in progress | 3 | €7,283 | €9,537 | +€2,254 | +30.9% |
| Contracts in progress | 37 | €7,283 | €9,537 | +€2,254 | +30.9% |
| Amounts receivable within one year | 40/41 | €50,153,709 | €44,365,258 | -€5.8m | -11.5% |
| Trade receivables | 40 | €50,098,568 | €44,294,336 | -€5.8m | -11.6% |
| Other amounts receivable | 41 | €55,141 | €70,921 | +€15,780 | +28.6% |
| Current investments | 50/53 | €154 | - | -€154 | |
| Other investments | 51/53 | €154 | - | -€154 | |
| Cash at bank and in hand | 54/58 | €261,965 | €63,144 | -€198,821 | -75.9% |
| Deferred charges and accrued income | 490/1 | €389,726 | €1,923 | -€387,803 | -99.5% |
| Total equity and liabilities | 10/49 | €50,870,803 | €44,485,153 | -€6.4m | -12.6% |
| Equity | 10/15 | €6,547,936 | €7,765,566 | +€1.2m | +18.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €6,047,936 | €7,265,566 | +€1.2m | +20.1% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €5,997,936 | €7,215,566 | +€1.2m | +20.3% |
| Amounts payable | 17/49 | €44,322,867 | €36,719,587 | -€7.6m | -17.2% |
| Amounts payable within one year | 42/48 | €44,149,268 | €36,689,988 | -€7.5m | -16.9% |
| Financial debts | 43 | €40,397,609 | €31,635,199 | -€8.8m | -21.7% |
| Credit institutions | 430/8 | €40,397,609 | €31,635,199 | -€8.8m | -21.7% |
| Trade debts | 44 | €1,903,116 | €3,237,728 | +€1.3m | +70.1% |
| Suppliers | 440/4 | €1,903,116 | €3,237,728 | +€1.3m | +70.1% |
| Taxes, remuneration and social security | 45 | €511,029 | €654,658 | +€143,629 | +28.1% |
| Taxes | 450/3 | €414,681 | €556,773 | +€142,092 | +34.3% |
| Remuneration and social security | 454/9 | €96,348 | €97,885 | +€1,537 | +1.6% |
| Other amounts payable | 47/48 | €1,337,514 | €1,162,403 | -€175,111 | -13.1% |
| Accrued charges and deferred income | 492/3 | €173,599 | €29,599 | -€144,000 | -82.9% |
| Operating income | 70/76A | €103,254,173 | €145,482,894 | +€42.2m | +40.9% |
| Turnover | 70 | €102,850,867 | €144,255,287 | +€41.4m | +40.3% |
| Other operating income | 74 | €403,272 | €1,227,607 | +€824,335 | +204% |
| Non-recurring operating income | 76A | €33 | - | -€33 | |
| Operating charges | 60/66A | €98,610,284 | €138,311,679 | +€39.7m | +40.3% |
| Goods for resale, raw materials and consumables | 60 | €94,090,715 | €133,182,621 | +€39.1m | +41.5% |
| Purchases | 600/8 | €94,090,715 | €133,182,621 | +€39.1m | +41.5% |
| Services and other goods | 61 | €3,268,008 | €4,154,590 | +€886,582 | +27.1% |
| Remuneration, social security and pensions | 62 | €745,088 | €754,442 | +€9,354 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,123 | €12,673 | -€5,450 | -30.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,056 | -€17,351 | -€8,295 | -91.6% |
| Other operating charges | 640/8 | €496,721 | €224,704 | -€272,017 | -54.8% |
| Non-recurring operating charges | 66A | €686 | - | -€686 | |
| Operating profit (loss) | 9901 | €4,643,889 | €7,171,216 | +€2.5m | +54.4% |
| Financial income | 75/76B | €710,295 | €20,153 | -€690,142 | -97.2% |
| Recurring financial income | 75 | €710,295 | €20,153 | -€690,142 | -97.2% |
| Income from current assets | 751 | €112,626 | €18,669 | -€93,957 | -83.4% |
| Other financial income | 752/9 | €597,669 | €1,484 | -€596,185 | -99.8% |
| Financial charges | 65/66B | €2,610,801 | €4,209,158 | +€1.6m | +61.2% |
| Recurring financial charges | 65 | €2,610,801 | €4,209,158 | +€1.6m | +61.2% |
| Debt charges | 650 | €2,233,300 | €2,863,198 | +€629,898 | +28.2% |
| Other financial charges | 652/9 | €377,500 | €1,345,960 | +€968,460 | +257% |
| Profit (loss) for the period before taxes | 9903 | €2,743,383 | €2,982,211 | +€238,827 | +8.7% |
| Income taxes | 67/77 | €879,721 | €604,580 | -€275,141 | -31.3% |
| Taxes | 670/3 | €917,253 | €764,176 | -€153,077 | -16.7% |
| Tax adjustments and reversals of tax provisions | 77 | €37,531 | €159,596 | +€122,064 | +325% |
| Profit (loss) for the period | 9904 | €1,863,662 | €2,377,630 | +€513,968 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,863,662 | €2,377,630 | +€513,968 | +27.6% |
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 27 October 2026 via checked.be.