AGV PROJECTS: 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.
AGV PROJECTS
Largest movements
- Tangible fixed assets -€37,939
down €37,939 (-57.9%), from €65,504 to €27,565
of which Furniture and vehicles: -€20,859
- Receivables within one year +€23,256
up €23,256 (+528.5%), from €4,400 to €27,656
of which Trade receivables: +€20,642
- Cash +€21,848
up €21,848 (+33.5%), from €65,132 to €86,980
mainly Depreciation (+€22,559) and Investment in fixed assets (net) (+€18,454)
- Financial fixed assets -€3,075
down €3,075 (-92.3%), from €3,330 to €255
- Debts after one year -€19,016
down €19,016 (-59.3%), from €32,089 to €13,073
- Accrued charges and deferred income +€10,000
new in 2025: €10,000
- Profit (loss) carried forward +€9,633
up €9,633 (+11.8%), from €81,449 to €91,082
- Trade debts +€6,109
up €6,109 (+97.8%), from €6,247 to €12,356
of which Bills of exchange payable: +€6,500
- Tax, wage and social debts -€3,524
down €3,524 (-20.8%), from €16,969 to €13,445
of which Taxes: -€3,524
- Other operating charges +€7,205
up €7,205 (+605.8%), from €1,189 to €8,395
- Gross operating margin -€5,060
down €5,060 (-9.7%), from €51,904 to €46,844
- Taxes -€2,318
down €2,318 (-43.1%), from €5,382 to €3,064
- Depreciation -€1,541
down €1,541 (-6.4%), from €24,100 to €22,559
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 | €139,254 | €142,456 | +€3,202 | +2.3% |
| Fixed assets | 21/28 | €68,834 | €27,820 | -€41,013 | -59.6% |
| Tangible fixed assets | 22/27 | €65,504 | €27,565 | -€37,939 | -57.9% |
| Furniture and vehicles | 24 | €22,607 | €1,748 | -€20,859 | -92.3% |
| Leasing and similar rights | 25 | €42,896 | €25,817 | -€17,079 | -39.8% |
| Financial fixed assets | 28 | €3,330 | €255 | -€3,075 | -92.3% |
| Current assets | 29/58 | €70,421 | €114,636 | +€44,215 | +62.8% |
| Amounts receivable within one year | 40/41 | €4,400 | €27,656 | +€23,256 | +528.5% |
| Trade receivables | 40 | - | €20,642 | +€20,642 | |
| Other amounts receivable | 41 | €4,400 | €7,014 | +€2,613 | +59.4% |
| Cash at bank and in hand | 54/58 | €65,132 | €86,980 | +€21,848 | +33.5% |
| Deferred charges and accrued income | 490/1 | €889 | - | -€889 | |
| Total equity and liabilities | 10/49 | €139,254 | €142,456 | +€3,202 | +2.3% |
| Equity | 10/15 | €83,949 | €93,582 | +€9,633 | +11.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,449 | €91,082 | +€9,633 | +11.8% |
| Amounts payable | 17/49 | €55,305 | €48,874 | -€6,431 | -11.6% |
| Amounts payable after more than one year | 17 | €32,089 | €13,073 | -€19,016 | -59.3% |
| Financial debts | 170/4 | €32,089 | €13,073 | -€19,016 | -59.3% |
| Amounts payable within one year | 42/48 | €23,216 | €25,802 | +€2,585 | +11.1% |
| Trade debts | 44 | €6,247 | €12,356 | +€6,109 | +97.8% |
| Suppliers | 440/4 | €6,247 | €5,856 | -€391 | -6.3% |
| Bills of exchange payable | 441 | - | €6,500 | +€6,500 | |
| Taxes, remuneration and social security | 45 | €16,969 | €13,445 | -€3,524 | -20.8% |
| Taxes | 450/3 | €11,969 | €8,445 | -€3,524 | -29.4% |
| Remuneration and social security | 454/9 | €5,000 | €5,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,100 | €22,559 | -€1,541 | -6.4% |
| Other operating charges | 640/8 | €1,189 | €8,395 | +€7,205 | +605.8% |
| Gross operating margin | 9900 | €51,904 | €46,844 | -€5,060 | -9.7% |
| Operating profit (loss) | 9901 | €26,614 | €15,890 | -€10,724 | -40.3% |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €2,943 | €3,223 | +€279 | +9.5% |
| Recurring financial charges | 65 | €2,943 | €3,223 | +€279 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €23,671 | €12,697 | -€10,974 | -46.4% |
| Income taxes | 67/77 | €5,382 | €3,064 | -€2,318 | -43.1% |
| Profit (loss) for the period | 9904 | €18,289 | €9,633 | -€8,656 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,289 | €9,633 | -€8,656 | -47.3% |
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 9 October 2026 via checked.be.