AGTHERM: 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.
AGTHERM
Largest movements
- Receivables within one year -€34,105
down €34,105 (-75.2%), from €45,376 to €11,271
of which Other amounts receivable: -€18,809
- Tangible fixed assets -€31,999
down €31,999 (-3.9%), from €813,325 to €781,326
of which Land and buildings: -€33,468
- Debts after one year -€34,617
down €34,617 (-5.1%), from €681,948 to €647,331
- Trade debts -€24,291
down €24,291 (-86.6%), from €28,064 to €3,773
- Gross operating margin -€92,101
down €92,101 (-38.5%), from €239,253 to €147,152
- Staff costs -€47,348
down €47,348 (-41.3%), from €114,688 to €67,340
- Taxes -€9,777
down €9,777 (-99.3%), from €9,842 to €65
- Other operating charges +€3,877
up €3,877 (+108.1%), from €3,587 to €7,464
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 | €873,828 | €810,997 | -€62,831 | -7.2% |
| Fixed assets | 21/28 | €814,075 | €782,076 | -€31,999 | -3.9% |
| Tangible fixed assets | 22/27 | €813,325 | €781,326 | -€31,999 | -3.9% |
| Land and buildings | 22 | €786,844 | €753,375 | -€33,468 | -4.3% |
| Plant, machinery and equipment | 23 | €17,496 | €21,989 | +€4,493 | +25.7% |
| Furniture and vehicles | 24 | €8,985 | €5,961 | -€3,024 | -33.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €59,753 | €28,921 | -€30,832 | -51.6% |
| Stocks and contracts in progress | 3 | €3,784 | €8,360 | +€4,576 | +120.9% |
| Stocks | 30/36 | €3,784 | €8,360 | +€4,576 | +120.9% |
| Amounts receivable within one year | 40/41 | €45,376 | €11,271 | -€34,105 | -75.2% |
| Trade receivables | 40 | €23,153 | €7,856 | -€15,297 | -66.1% |
| Other amounts receivable | 41 | €22,223 | €3,414 | -€18,809 | -84.6% |
| Cash at bank and in hand | 54/58 | €9,194 | €8,122 | -€1,071 | -11.7% |
| Deferred charges and accrued income | 490/1 | €1,400 | €1,168 | -€232 | -16.6% |
| Total equity and liabilities | 10/49 | €873,828 | €810,997 | -€62,831 | -7.2% |
| Equity | 10/15 | €97,020 | €97,668 | +€648 | +0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €90,820 | €91,468 | +€648 | +0.7% |
| Distributable reserves | 133 | €90,820 | €91,468 | +€648 | +0.7% |
| Amounts payable | 17/49 | €776,808 | €713,329 | -€63,479 | -8.2% |
| Amounts payable after more than one year | 17 | €681,948 | €647,331 | -€34,617 | -5.1% |
| Financial debts | 170/4 | €681,948 | €647,331 | -€34,617 | -5.1% |
| Amounts payable within one year | 42/48 | €90,209 | €61,349 | -€28,860 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €33,713 | €34,617 | +€903 | +2.7% |
| Trade debts | 44 | €28,064 | €3,773 | -€24,291 | -86.6% |
| Suppliers | 440/4 | €28,064 | €3,773 | -€24,291 | -86.6% |
| Taxes, remuneration and social security | 45 | €26,045 | €20,137 | -€5,908 | -22.7% |
| Taxes | 450/3 | €13,867 | €13,331 | -€536 | -3.9% |
| Remuneration and social security | 454/9 | €12,178 | €6,806 | -€5,372 | -44.1% |
| Other amounts payable | 47/48 | €2,386 | €2,822 | +€436 | +18.3% |
| Accrued charges and deferred income | 492/3 | €4,651 | €4,649 | -€2 | -0.1% |
| Remuneration, social security and pensions | 62 | €114,688 | €67,340 | -€47,348 | -41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,380 | €46,792 | -€1,588 | -3.3% |
| Other operating charges | 640/8 | €3,587 | €7,464 | +€3,877 | +108.1% |
| Gross operating margin | 9900 | €239,253 | €147,152 | -€92,101 | -38.5% |
| Operating profit (loss) | 9901 | €72,598 | €25,556 | -€47,042 | -64.8% |
| Financial income | 75/76B | €619 | €660 | +€41 | +6.6% |
| Recurring financial income | 75 | €619 | €660 | +€41 | +6.6% |
| Financial charges | 65/66B | €27,124 | €25,503 | -€1,621 | -6.0% |
| Recurring financial charges | 65 | €27,124 | €25,503 | -€1,621 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €46,092 | €712 | -€45,380 | -98.5% |
| Income taxes | 67/77 | €9,842 | €65 | -€9,777 | -99.3% |
| Profit (loss) for the period | 9904 | €36,251 | €648 | -€35,603 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,251 | €648 | -€35,603 | -98.2% |
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 3 October 2026 via checked.be.