AGVB: 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.
AGVB
Largest movements
- Financial fixed assets -€25,000
no longer reported in 2025 (was €25,000)
- Cash +€16,395
up €16,395 (+29.7%), from €55,193 to €71,588
mainly Investment in fixed assets (net) (+€23,644) and Depreciation (+€7,619)
- Receivables within one year +€8,824
up €8,824 (+49.2%), from €17,930 to €26,754
of which Trade receivables: +€9,037
- Tangible fixed assets -€6,263
down €6,263 (-34.2%), from €18,288 to €12,025
of which Plant, machinery and equipment: -€3,366
- Deferred charges and accrued income -€2,889
no longer reported in 2025 (was €2,889)
- Profit (loss) carried forward -€18,497
down €18,497 (-98.9%), from €18,698 to €201
- Debts after one year +€7,177
up €7,177 (+8.6%), from €83,000 to €90,177
- Trade debts +€2,174
up €2,174 (+204.7%), from €1,062 to €3,236
- Purchases and services +€32,939
up €32,939 (+26.7%), from €123,153 to €156,092
- Turnover +€18,429
up €18,429 (+13.3%), from €138,816 to €157,245
- Gross operating margin -€14,510
down €14,510 (-92.6%), from €15,663 to €1,153
- Taxes -€4,372
down €4,372, from €1,398 to -€2,974
- Depreciation -€3,756
down €3,756 (-33.0%), from €11,375 to €7,619
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 | €119,300 | €110,367 | -€8,933 | -7.5% |
| Fixed assets | 21/28 | €43,288 | €12,025 | -€31,263 | -72.2% |
| Tangible fixed assets | 22/27 | €18,288 | €12,025 | -€6,263 | -34.2% |
| Plant, machinery and equipment | 23 | €9,409 | €6,043 | -€3,366 | -35.8% |
| Furniture and vehicles | 24 | €8,879 | €5,982 | -€2,897 | -32.6% |
| Financial fixed assets | 28 | €25,000 | - | -€25,000 | |
| Current assets | 29/58 | €76,012 | €98,342 | +€22,330 | +29.4% |
| Amounts receivable within one year | 40/41 | €17,930 | €26,754 | +€8,824 | +49.2% |
| Trade receivables | 40 | €17,369 | €26,406 | +€9,037 | +52.0% |
| Other amounts receivable | 41 | €561 | €348 | -€213 | -38.0% |
| Cash at bank and in hand | 54/58 | €55,193 | €71,588 | +€16,395 | +29.7% |
| Deferred charges and accrued income | 490/1 | €2,889 | - | -€2,889 | |
| Total equity and liabilities | 10/49 | €119,300 | €110,367 | -€8,933 | -7.5% |
| Equity | 10/15 | €28,698 | €10,201 | -€18,497 | -64.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,698 | €201 | -€18,497 | -98.9% |
| Amounts payable | 17/49 | €90,602 | €100,166 | +€9,564 | +10.6% |
| Amounts payable after more than one year | 17 | €83,000 | €90,177 | +€7,177 | +8.6% |
| Other amounts payable | 178/9 | €83,000 | €90,177 | +€7,177 | +8.6% |
| Amounts payable within one year | 42/48 | €7,602 | €9,989 | +€2,387 | +31.4% |
| Trade debts | 44 | €1,062 | €3,236 | +€2,174 | +204.7% |
| Suppliers | 440/4 | €1,062 | €3,236 | +€2,174 | +204.7% |
| Taxes, remuneration and social security | 45 | €6,540 | €6,753 | +€213 | +3.3% |
| Taxes | 450/3 | €6,540 | €6,753 | +€213 | +3.3% |
| Turnover | 70 | €138,816 | €157,245 | +€18,429 | +13.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €123,153 | €156,092 | +€32,939 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,375 | €7,619 | -€3,756 | -33.0% |
| Other operating charges | 640/8 | €15,547 | €13,998 | -€1,549 | -10.0% |
| Gross operating margin | 9900 | €15,663 | €1,153 | -€14,510 | -92.6% |
| Operating profit (loss) | 9901 | -€11,259 | -€20,464 | -€9,205 | -81.8% |
| Financial income | 75/76B | €483 | €315 | -€168 | -34.8% |
| Recurring financial income | 75 | €483 | €315 | -€168 | -34.8% |
| Financial charges | 65/66B | €467 | €1,322 | +€855 | +183.1% |
| Recurring financial charges | 65 | €467 | €1,246 | +€779 | +166.8% |
| Non-recurring financial charges | 66B | - | €76 | +€76 | |
| Profit (loss) for the period before taxes | 9903 | -€11,243 | -€21,471 | -€10,228 | -91.0% |
| Income taxes | 67/77 | €1,398 | -€2,974 | -€4,372 | |
| Profit (loss) for the period | 9904 | -€12,641 | -€18,497 | -€5,856 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,641 | -€18,497 | -€5,856 | -46.3% |
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 4 October 2026 via checked.be.