AGEFO: what changed
AGEFO
Largest movements
- Cash +€10,266
up €10,266 (+291%), from €3,526 to €13,792
mainly Net result for the year (+€12,378) and Tax, wage and social debts (+€1,202)
- Receivables within one year +€2,306
up €2,306 (+210%), from €1,098 to €3,404
of which Other amounts receivable: +€3,047
- Tangible fixed assets -€1,038
down €1,038 (-35.7%), from €2,909 to €1,871
of which Plant, machinery and equipment: -€624
- Deferred charges and accrued income +€744
up €744 (+91.1%), from €817 to €1,561
- Profit (loss) carried forward +€12,378
up €12,378 (+93.6%), from -€13,220 to -€842
- Tax, wage and social debts +€1,202
up €1,202 (+232%), from €518 to €1,720
- Trade debts -€750
down €750 (-64.4%), from €1,165 to €415
- Other debts -€553
no longer reported in 2025 (was €553)
- Gross operating margin +€10,700
up €10,700 (+238%), from €4,498 to €15,198
- Depreciation -€431
down €431 (-29.3%), from €1,470 to €1,038
- Financial charges +€383
up €383 (+571%), from €67 to €451
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,351 | €20,628 | +€12,277 | +147% |
| Fixed assets | 21/28 | €2,909 | €1,871 | -€1,038 | -35.7% |
| Tangible fixed assets | 22/27 | €2,909 | €1,871 | -€1,038 | -35.7% |
| Plant, machinery and equipment | 23 | €2,495 | €1,871 | -€624 | -25.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €415 | €0 | -€415 | -100% |
| Current assets | 29/58 | €5,441 | €18,757 | +€13,315 | +245% |
| Amounts receivable within one year | 40/41 | €1,098 | €3,404 | +€2,306 | +210% |
| Trade receivables | 40 | €1,098 | €357 | -€742 | -67.5% |
| Other amounts receivable | 41 | €0 | €3,047 | +€3,047 | |
| Cash at bank and in hand | 54/58 | €3,526 | €13,792 | +€10,266 | +291% |
| Deferred charges and accrued income | 490/1 | €817 | €1,561 | +€744 | +91.1% |
| Total equity and liabilities | 10/49 | €8,351 | €20,628 | +€12,277 | +147% |
| Equity | 10/15 | €6,116 | €18,493 | +€12,378 | +202% |
| Contributions | 10/11 | €17,476 | €17,476 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,220 | -€842 | +€12,378 | +93.6% |
| Amounts payable | 17/49 | €2,235 | €2,134 | -€101 | -4.5% |
| Amounts payable within one year | 42/48 | €2,235 | €2,134 | -€101 | -4.5% |
| Trade debts | 44 | €1,165 | €415 | -€750 | -64.4% |
| Suppliers | 440/4 | €1,165 | €415 | -€750 | -64.4% |
| Taxes, remuneration and social security | 45 | €518 | €1,720 | +€1,202 | +232% |
| Taxes | 450/3 | €518 | €1,720 | +€1,202 | +232% |
| Other amounts payable | 47/48 | €553 | - | -€553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €1,038 | -€431 | -29.3% |
| Other operating charges | 640/8 | €955 | €979 | +€25 | +2.6% |
| Gross operating margin | 9900 | €4,498 | €15,198 | +€10,700 | +238% |
| Operating profit (loss) | 9901 | €2,074 | €13,181 | +€11,107 | +536% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €67 | €451 | +€383 | +571% |
| Recurring financial charges | 65 | €67 | €451 | +€383 | +571% |
| Profit (loss) for the period before taxes | 9903 | €2,007 | €12,730 | +€10,723 | +534% |
| Income taxes | 67/77 | €288 | €352 | +€64 | +22.2% |
| Profit (loss) for the period | 9904 | €1,719 | €12,378 | +€10,659 | +620% |
| Profit (loss) for the period to be appropriated | 9905 | €1,719 | €12,378 | +€10,659 | +620% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.