AGSP: 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.
AGSP
Largest movements
- Cash -€237,993
down €237,993 (-99.3%), from €239,740 to €1,748
mainly Receivables after one year (-€155,000) and Investment in fixed assets (net) (-€121,281)
- Receivables after one year +€155,000
up €155,000 (+24.8%), from €625,000 to €780,000
- Tangible fixed assets +€97,024
new in 2025: €97,024
- Receivables within one year +€50,524
up €50,524 (+26494.0%), from €191 to €50,715
of which Other amounts receivable: +€49,809
- Debts after one year +€51,888
up €51,888 (+94.8%), from €54,735 to €106,623
- Other debts -€43,938
down €43,938 (-89.1%), from €49,294 to €5,356
- Profit (loss) carried forward +€21,771
up €21,771 (+3.3%), from €653,884 to €675,655
- Current portion of long-term debt +€18,859
up €18,859 (+82.4%), from €22,879 to €41,739
- Reserves +€10,000
up €10,000 (+10.9%), from €91,860 to €101,860
- Gross operating margin -€699,021
down €699,021 (-86.2%), from €811,313 to €112,293
- Depreciation +€24,256
new in 2025: €24,256
- Purchases and services +€13,156
up €13,156 (+16.0%), from €82,156 to €95,312
- Turnover +€10,500
up €10,500 (+7.5%), from €139,500 to €150,000
- Taxes -€9,606
down €9,606 (-48.4%), from €19,851 to €10,245
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 | €891,252 | €956,817 | +€65,565 | +7.4% |
| Fixed assets | 21/28 | €25,000 | €122,024 | +€97,024 | +388.1% |
| Tangible fixed assets | 22/27 | - | €97,024 | +€97,024 | |
| Furniture and vehicles | 24 | - | €97,024 | +€97,024 | |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €866,252 | €834,793 | -€31,459 | -3.6% |
| Amounts receivable after more than one year | 29 | €625,000 | €780,000 | +€155,000 | +24.8% |
| Trade receivables | 290 | €625,000 | €780,000 | +€155,000 | +24.8% |
| Amounts receivable within one year | 40/41 | €191 | €50,715 | +€50,524 | +26494.0% |
| Trade receivables | 40 | €0 | €715 | +€715 | |
| Other amounts receivable | 41 | €191 | €50,000 | +€49,809 | +26119.2% |
| Cash at bank and in hand | 54/58 | €239,740 | €1,748 | -€237,993 | -99.3% |
| Deferred charges and accrued income | 490/1 | €1,321 | €2,330 | +€1,009 | +76.4% |
| Total equity and liabilities | 10/49 | €891,252 | €956,817 | +€65,565 | +7.4% |
| Equity | 10/15 | €764,344 | €796,115 | +€31,771 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €91,860 | €101,860 | +€10,000 | +10.9% |
| Distributable reserves | 133 | €91,860 | €101,860 | +€10,000 | +10.9% |
| Profit (loss) carried forward | 14 | €653,884 | €675,655 | +€21,771 | +3.3% |
| Amounts payable | 17/49 | €126,908 | €160,702 | +€33,794 | +26.6% |
| Amounts payable after more than one year | 17 | €54,735 | €106,623 | +€51,888 | +94.8% |
| Financial debts | 170/4 | €54,735 | €106,623 | +€51,888 | +94.8% |
| Amounts payable within one year | 42/48 | €72,173 | €54,079 | -€18,094 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €22,879 | €41,739 | +€18,859 | +82.4% |
| Trade debts | 44 | €0 | €27 | +€27 | |
| Suppliers | 440/4 | €0 | €27 | +€27 | |
| Advances received on contracts in progress | 46 | - | €5,000 | +€5,000 | |
| Taxes, remuneration and social security | 45 | €0 | €1,958 | +€1,958 | |
| Taxes | 450/3 | €0 | €408 | +€408 | |
| Remuneration and social security | 454/9 | €0 | €1,550 | +€1,550 | |
| Other amounts payable | 47/48 | €49,294 | €5,356 | -€43,938 | -89.1% |
| Turnover | 70 | €139,500 | €150,000 | +€10,500 | +7.5% |
| Non-recurring operating income | 76A | €750,000 | - | -€750,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €82,156 | €95,312 | +€13,156 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €24,256 | +€24,256 | |
| Other operating charges | 640/8 | €3,043 | €8,390 | +€5,347 | +175.7% |
| Gross operating margin | 9900 | €811,313 | €112,293 | -€699,021 | -86.2% |
| Operating profit (loss) | 9901 | €808,271 | €79,647 | -€728,624 | -90.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1500.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1500.0% |
| Financial charges | 65/66B | €6,975 | €7,630 | +€656 | +9.4% |
| Recurring financial charges | 65 | €6,975 | €7,630 | +€656 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €801,296 | €72,017 | -€729,279 | -91.0% |
| Income taxes | 67/77 | €19,851 | €10,245 | -€9,606 | -48.4% |
| Profit (loss) for the period | 9904 | €781,445 | €61,771 | -€719,674 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €781,445 | €61,771 | -€719,674 | -92.1% |
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 7 October 2026 via checked.be.