AGP: 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.
AGP
Largest movements
- Cash -€69,603
down €69,603 (-31.3%), from €222,055 to €152,452
mainly Contributions, distributions and other (-€301,250) and Provisions (-€93,750)
- Receivables within one year -€14,604
down €14,604 (-38.8%), from €37,592 to €22,988
of which Other amounts receivable: -€12,719
- Tangible fixed assets -€9,207
down €9,207 (-7.5%), from €122,471 to €113,263
of which Other tangible fixed assets: -€9,025
- Reserves -€211,250
down €211,250 (-61.3%), from €344,893 to €133,643
of which Tax-exempt reserves: -€281,250
- Profit (loss) carried forward +€187,859
up €187,859, from -€45,543 to €142,315
- Provisions -€93,750
no longer reported in 2025 (was €93,750)
- Tax, wage and social debts +€12,221
up €12,221 (+2,783%), from €439 to €12,660
- Other debts +€10,000
new in 2025: €10,000
- Financial income +€380,047
up €380,047 (+8,972%), from €4,236 to €384,283
of which Non-recurring financial income: +€373,733
- Taxes +€87,963
up €87,963, from -€3 to €87,960
- Gross operating margin +€2,439
up €2,439 (+30.6%), from -€7,968 to -€5,530
- Other operating charges -€553
down €553 (-40.7%), from €1,359 to €806
- Financial charges +€147
up €147 (+5.3%), from €2,775 to €2,921
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 | €399,680 | €306,363 | -€93,317 | -23.3% |
| Fixed assets | 21/28 | €122,471 | €113,263 | -€9,207 | -7.5% |
| Tangible fixed assets | 22/27 | €122,471 | €113,263 | -€9,207 | -7.5% |
| Furniture and vehicles | 24 | €350 | €168 | -€183 | -52.1% |
| Other tangible fixed assets | 26 | €122,120 | €113,096 | -€9,025 | -7.4% |
| Current assets | 29/58 | €277,209 | €193,099 | -€84,110 | -30.3% |
| Amounts receivable after more than one year | 29 | €16,000 | €16,000 | = | 0.0% |
| Trade receivables | 290 | €16,000 | €16,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,592 | €22,988 | -€14,604 | -38.8% |
| Trade receivables | 40 | €16,313 | €14,428 | -€1,885 | -11.6% |
| Other amounts receivable | 41 | €21,279 | €8,560 | -€12,719 | -59.8% |
| Cash at bank and in hand | 54/58 | €222,055 | €152,452 | -€69,603 | -31.3% |
| Deferred charges and accrued income | 490/1 | €1,562 | €1,659 | +€97 | +6.2% |
| Total equity and liabilities | 10/49 | €399,680 | €306,363 | -€93,317 | -23.3% |
| Equity | 10/15 | €299,350 | €275,958 | -€23,391 | -7.8% |
| Reserves | 13 | €344,893 | €133,643 | -€211,250 | -61.3% |
| Tax-exempt reserves | 132 | €293,164 | €11,914 | -€281,250 | -95.9% |
| Distributable reserves | 133 | €51,728 | €121,728 | +€70,000 | +135% |
| Profit (loss) carried forward | 14 | -€45,543 | €142,315 | +€187,859 | |
| Provisions and deferred taxes | 16 | €93,750 | - | -€93,750 | |
| Deferred taxes | 168 | €93,750 | - | -€93,750 | |
| Amounts payable | 17/49 | €6,580 | €30,404 | +€23,824 | +362% |
| Amounts payable within one year | 42/48 | €6,580 | €30,404 | +€23,824 | +362% |
| Current portion of amounts payable after more than one year | 42 | €3,832 | €1,699 | -€2,133 | -55.7% |
| Trade debts | 44 | €2,309 | €6,046 | +€3,737 | +162% |
| Suppliers | 440/4 | €2,309 | €6,046 | +€3,737 | +162% |
| Taxes, remuneration and social security | 45 | €439 | €12,660 | +€12,221 | +2,783% |
| Taxes | 450/3 | €439 | €12,660 | +€12,221 | +2,783% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,245 | €9,207 | -€38 | -0.4% |
| Other operating charges | 640/8 | €1,359 | €806 | -€553 | -40.7% |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | -€7,968 | -€5,530 | +€2,439 | +30.6% |
| Operating profit (loss) | 9901 | -€18,572 | -€15,543 | +€3,029 | +16.3% |
| Financial income | 75/76B | €4,236 | €384,283 | +€380,047 | +8,972% |
| Recurring financial income | 75 | €2,969 | €9,283 | +€6,315 | +213% |
| Non-recurring financial income | 76B | €1,267 | €375,000 | +€373,733 | +29,494% |
| Financial charges | 65/66B | €2,775 | €2,921 | +€147 | +5.3% |
| Recurring financial charges | 65 | €2,775 | €2,921 | +€147 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,111 | €365,819 | +€382,930 | |
| Income taxes | 67/77 | -€3 | €87,960 | +€87,963 | |
| Profit (loss) for the period | 9904 | -€17,108 | €277,859 | +€294,967 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,108 | €277,859 | +€294,967 |
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 18 October 2026 via checked.be.