AGYEPO: 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.
AGYEPO
Largest movements
- Tangible fixed assets +€312,462
up €312,462 (+4211.3%), from €7,420 to €319,882
of which Land and buildings: +€315,562
- Cash -€79,184
down €79,184 (-80.6%), from €98,287 to €19,103
mainly Investment in fixed assets (net) (-€327,321) and Trade debts (-€29,816)
- Receivables within one year -€20,670
down €20,670 (-24.2%), from €85,350 to €64,680
of which Trade receivables: -€38,858
- Debts after one year +€213,171
new in 2025: €213,171
- Reserves +€33,000
up €33,000 (+24.3%), from €136,000 to €169,000
- Trade debts -€29,816
down €29,816 (-84.4%), from €35,315 to €5,499
- Tax, wage and social debts -€9,457
down €9,457 (-45.2%), from €20,911 to €11,454
- Current portion of long-term debt +€8,344
new in 2025: €8,344
- Other operating charges -€18,570
down €18,570 (-77.5%), from €23,974 to €5,404
- Depreciation +€12,979
up €12,979 (+690.2%), from €1,880 to €14,859
- Financial charges +€6,503
up €6,503 (+5162.4%), from €126 to €6,629
- Gross operating margin +€4,761
up €4,761 (+7.6%), from €62,393 to €67,155
- Financial income +€2,423
up €2,423 (+121764.8%), from €2 to €2,425
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 | €195,343 | €410,772 | +€215,429 | +110.3% |
| Fixed assets | 21/28 | €10,370 | €322,832 | +€312,462 | +3013.2% |
| Tangible fixed assets | 22/27 | €7,420 | €319,882 | +€312,462 | +4211.3% |
| Land and buildings | 22 | - | €315,562 | +€315,562 | |
| Furniture and vehicles | 24 | €7,420 | €4,320 | -€3,100 | -41.8% |
| Financial fixed assets | 28 | €2,950 | €2,950 | = | 0.0% |
| Current assets | 29/58 | €184,973 | €87,940 | -€97,033 | -52.5% |
| Amounts receivable within one year | 40/41 | €85,350 | €64,680 | -€20,670 | -24.2% |
| Trade receivables | 40 | €50,372 | €11,514 | -€38,858 | -77.1% |
| Other amounts receivable | 41 | €34,978 | €53,166 | +€18,187 | +52.0% |
| Cash at bank and in hand | 54/58 | €98,287 | €19,103 | -€79,184 | -80.6% |
| Deferred charges and accrued income | 490/1 | €1,337 | €4,158 | +€2,821 | +211.0% |
| Total equity and liabilities | 10/49 | €195,343 | €410,772 | +€215,429 | +110.3% |
| Equity | 10/15 | €139,117 | €172,305 | +€33,188 | +23.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €136,000 | €169,000 | +€33,000 | +24.3% |
| Distributable reserves | 133 | €136,000 | €169,000 | +€33,000 | +24.3% |
| Profit (loss) carried forward | 14 | €117 | €305 | +€188 | +160.3% |
| Amounts payable | 17/49 | €56,226 | €238,468 | +€182,242 | +324.1% |
| Amounts payable after more than one year | 17 | - | €213,171 | +€213,171 | |
| Financial debts | 170/4 | - | €213,171 | +€213,171 | |
| Amounts payable within one year | 42/48 | €56,226 | €25,297 | -€30,929 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | - | €8,344 | +€8,344 | |
| Trade debts | 44 | €35,315 | €5,499 | -€29,816 | -84.4% |
| Suppliers | 440/4 | €35,315 | €5,499 | -€29,816 | -84.4% |
| Taxes, remuneration and social security | 45 | €20,911 | €11,454 | -€9,457 | -45.2% |
| Taxes | 450/3 | €20,911 | €11,454 | -€9,457 | -45.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,880 | €14,859 | +€12,979 | +690.2% |
| Other operating charges | 640/8 | €23,974 | €5,404 | -€18,570 | -77.5% |
| Gross operating margin | 9900 | €62,393 | €67,155 | +€4,761 | +7.6% |
| Operating profit (loss) | 9901 | €36,539 | €46,891 | +€10,353 | +28.3% |
| Financial income | 75/76B | €2 | €2,425 | +€2,423 | +121764.8% |
| Recurring financial income | 75 | €2 | €2,425 | +€2,423 | +121764.8% |
| Financial charges | 65/66B | €126 | €6,629 | +€6,503 | +5162.4% |
| Recurring financial charges | 65 | €126 | €6,629 | +€6,503 | +5162.4% |
| Profit (loss) for the period before taxes | 9903 | €36,415 | €42,687 | +€6,273 | +17.2% |
| Income taxes | 67/77 | €8,334 | €9,500 | +€1,166 | +14.0% |
| Profit (loss) for the period | 9904 | €28,081 | €33,188 | +€5,107 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,081 | €33,188 | +€5,107 | +18.2% |
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 6 October 2026 via checked.be.