GROUP-AGS: what changed
Two financial 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.
GROUP-AGS
Largest movements
- Tangible fixed assets +€43,350
up €43,350 (+46.5%), from €93,214 to €136,564
of which Land and buildings: +€81,308
- Cash -€15,967
down €15,967 (-69.3%), from €23,030 to €7,063
mainly Investment in fixed assets (net) (-€70,578) and Tax, wage and social debts (-€41,401)
- Receivables within one year +€13,995
up €13,995 (+32.4%), from €43,260 to €57,255
of which Other amounts receivable: +€18,877
- Debts after one year +€91,444
up €91,444 (+625%), from €14,635 to €106,080
- Tax, wage and social debts -€41,401
down €41,401 (-89.4%), from €46,302 to €4,901
of which Taxes: -€27,630
- Reserves -€26,764
down €26,764 (-80.5%), from €33,254 to €6,491
- Other debts +€25,289
up €25,289 (+198%), from €12,792 to €38,081
- Trade debts -€4,565
down €4,565 (-24.2%), from €18,838 to €14,272
- Staff costs -€90,473
down €90,473 (-71.7%), from €126,100 to €35,627
- Gross operating margin -€55,716
down €55,716 (-50.9%), from €109,426 to €53,709
- Financial charges +€2,812
up €2,812 (+69.8%), from €4,026 to €6,838
- Depreciation -€2,468
down €2,468 (-8.3%), from €29,696 to €27,228
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.
Derived cash bridge
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 | €161,674 | €201,919 | +€40,245 | +24.9% |
| Fixed assets | 21/28 | €94,114 | €137,464 | +€43,350 | +46.1% |
| Tangible fixed assets | 22/27 | €93,214 | €136,564 | +€43,350 | +46.5% |
| Land and buildings | 22 | €1,821 | €83,129 | +€81,308 | +4,465% |
| Furniture and vehicles | 24 | €91,393 | €53,435 | -€37,958 | -41.5% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €67,560 | €64,455 | -€3,105 | -4.6% |
| Amounts receivable within one year | 40/41 | €43,260 | €57,255 | +€13,995 | +32.4% |
| Trade receivables | 40 | €22,526 | €17,644 | -€4,882 | -21.7% |
| Other amounts receivable | 41 | €20,735 | €39,612 | +€18,877 | +91.0% |
| Cash at bank and in hand | 54/58 | €23,030 | €7,063 | -€15,967 | -69.3% |
| Deferred charges and accrued income | 490/1 | €1,269 | €136 | -€1,133 | -89.3% |
| Total equity and liabilities | 10/49 | €161,674 | €201,919 | +€40,245 | +24.9% |
| Equity | 10/15 | €52,318 | €25,554 | -€26,764 | -51.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,254 | €6,491 | -€26,764 | -80.5% |
| Distributable reserves | 133 | €33,254 | €6,491 | -€26,764 | -80.5% |
| Profit (loss) carried forward | 14 | €12,863 | €12,863 | = | 0.0% |
| Amounts payable | 17/49 | €109,356 | €176,365 | +€67,009 | +61.3% |
| Amounts payable after more than one year | 17 | €14,635 | €106,080 | +€91,444 | +625% |
| Financial debts | 170/4 | €14,635 | €106,080 | +€91,444 | +625% |
| Amounts payable within one year | 42/48 | €94,360 | €70,285 | -€24,074 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €12,554 | €12,543 | -€11 | -0.1% |
| Financial debts | 43 | €3,386 | - | -€3,386 | |
| Credit institutions | 430/8 | €3,386 | - | -€3,386 | |
| Trade debts | 44 | €18,838 | €14,272 | -€4,565 | -24.2% |
| Suppliers | 440/4 | €18,838 | €14,272 | -€4,565 | -24.2% |
| Advances received on contracts in progress | 46 | €488 | €488 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €46,302 | €4,901 | -€41,401 | -89.4% |
| Taxes | 450/3 | €29,597 | €1,967 | -€27,630 | -93.4% |
| Remuneration and social security | 454/9 | €16,705 | €2,934 | -€13,772 | -82.4% |
| Other amounts payable | 47/48 | €12,792 | €38,081 | +€25,289 | +198% |
| Accrued charges and deferred income | 492/3 | €361 | - | -€361 | |
| Non-recurring operating income | 76A | €2,602 | €4,141 | +€1,539 | +59.1% |
| Remuneration, social security and pensions | 62 | €126,100 | €35,627 | -€90,473 | -71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,696 | €27,228 | -€2,468 | -8.3% |
| Other operating charges | 640/8 | €3,209 | €3,920 | +€711 | +22.1% |
| Non-recurring operating charges | 66A | - | €6,860 | +€6,860 | |
| Gross operating margin | 9900 | €109,426 | €53,709 | -€55,716 | -50.9% |
| Operating profit (loss) | 9901 | -€49,580 | -€19,926 | +€29,654 | +59.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.6% |
| Financial charges | 65/66B | €4,026 | €6,838 | +€2,812 | +69.8% |
| Recurring financial charges | 65 | €4,026 | €6,838 | +€2,812 | +69.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,606 | -€26,764 | +€26,842 | +50.1% |
| Income taxes | 67/77 | -€0 | - | +€0 | |
| Profit (loss) for the period | 9904 | -€53,606 | -€26,764 | +€26,842 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,606 | -€26,764 | +€26,842 | +50.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.