A2GV: 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.
A2GV
Largest movements
- Deferred charges and accrued income +€92,237
up €92,237 (+1,109%), from €8,316 to €100,553
- Tangible fixed assets -€84,823
down €84,823 (-8.5%), from €1.0m to €915,447
of which Land and buildings: -€69,970
- Receivables within one year -€71,027
down €71,027 (-16.7%), from €424,678 to €353,650
of which Trade receivables: -€64,027
- Cash +€44,098
up €44,098 (+50.2%), from €87,892 to €131,991
mainly Net result for the year (+€153,503) and Depreciation (+€84,823)
- Financial fixed assets +€39,110
up €39,110 (+2.5%), from €1.5m to €1.6m
- Reserves +€200,000
up €200,000 (+10.5%), from €1.9m to €2.1m
- Debts after one year -€145,029
down €145,029 (-18.5%), from €782,543 to €637,514
- Profit (loss) carried forward -€46,497
down €46,497 (-66.9%), from €69,472 to €22,976
- Financial income -€71,762
down €71,762 (-28.5%), from €252,000 to €180,238
- Gross operating margin -€19,553
down €19,553 (-8.8%), from €222,127 to €202,574
- Staff costs +€11,478
up €11,478 (+11.2%), from €102,440 to €113,917
- Depreciation -€8,380
down €8,380 (-9.0%), from €93,203 to €84,823
- Other operating charges +€3,982
up €3,982 (+39.9%), from €9,989 to €13,971
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 | €3,068,677 | €3,088,271 | +€19,595 | +0.6% |
| Fixed assets | 21/28 | €2,547,790 | €2,502,077 | -€45,713 | -1.8% |
| Tangible fixed assets | 22/27 | €1,000,270 | €915,447 | -€84,823 | -8.5% |
| Land and buildings | 22 | €953,460 | €883,489 | -€69,970 | -7.3% |
| Plant, machinery and equipment | 23 | €5,700 | €4,733 | -€967 | -17.0% |
| Leasing and similar rights | 25 | €41,110 | €27,224 | -€13,886 | -33.8% |
| Financial fixed assets | 28 | €1,547,520 | €1,586,630 | +€39,110 | +2.5% |
| Current assets | 29/58 | €520,886 | €586,194 | +€65,308 | +12.5% |
| Amounts receivable within one year | 40/41 | €424,678 | €353,650 | -€71,027 | -16.7% |
| Trade receivables | 40 | €272,678 | €208,650 | -€64,027 | -23.5% |
| Other amounts receivable | 41 | €152,000 | €145,000 | -€7,000 | -4.6% |
| Cash at bank and in hand | 54/58 | €87,892 | €131,991 | +€44,098 | +50.2% |
| Deferred charges and accrued income | 490/1 | €8,316 | €100,553 | +€92,237 | +1,109% |
| Total equity and liabilities | 10/49 | €3,068,677 | €3,088,271 | +€19,595 | +0.6% |
| Equity | 10/15 | €1,989,932 | €2,143,436 | +€153,503 | +7.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €1,900,000 | €2,100,000 | +€200,000 | +10.5% |
| Distributable reserves | 133 | €1,900,000 | €2,100,000 | +€200,000 | +10.5% |
| Profit (loss) carried forward | 14 | €69,472 | €22,976 | -€46,497 | -66.9% |
| Amounts payable | 17/49 | €1,078,744 | €944,836 | -€133,909 | -12.4% |
| Amounts payable after more than one year | 17 | €782,543 | €637,514 | -€145,029 | -18.5% |
| Financial debts | 170/4 | €782,543 | €637,514 | -€145,029 | -18.5% |
| Amounts payable within one year | 42/48 | €292,360 | €303,951 | +€11,590 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €142,041 | €145,029 | +€2,988 | +2.1% |
| Trade debts | 44 | €8,933 | €20,346 | +€11,413 | +128% |
| Suppliers | 440/4 | €8,933 | €20,346 | +€11,413 | +128% |
| Taxes, remuneration and social security | 45 | €53,061 | €50,251 | -€2,811 | -5.3% |
| Taxes | 450/3 | €30,367 | €22,948 | -€7,419 | -24.4% |
| Remuneration and social security | 454/9 | €22,694 | €27,302 | +€4,609 | +20.3% |
| Other amounts payable | 47/48 | €88,326 | €88,326 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,842 | €3,371 | -€471 | -12.2% |
| Remuneration, social security and pensions | 62 | €102,440 | €113,917 | +€11,478 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,203 | €84,823 | -€8,380 | -9.0% |
| Other operating charges | 640/8 | €9,989 | €13,971 | +€3,982 | +39.9% |
| Gross operating margin | 9900 | €222,127 | €202,574 | -€19,553 | -8.8% |
| Operating profit (loss) | 9901 | €16,495 | -€10,138 | -€26,633 | |
| Financial income | 75/76B | €252,000 | €180,238 | -€71,762 | -28.5% |
| Recurring financial income | 75 | €252,000 | €180,238 | -€71,762 | -28.5% |
| Financial charges | 65/66B | €18,335 | €15,834 | -€2,500 | -13.6% |
| Recurring financial charges | 65 | €18,335 | €15,834 | -€2,500 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €250,160 | €154,266 | -€95,894 | -38.3% |
| Income taxes | 67/77 | €792 | €762 | -€29 | -3.7% |
| Profit (loss) for the period | 9904 | €249,368 | €153,503 | -€95,865 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €249,368 | €153,503 | -€95,865 | -38.4% |
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 25 October 2026 via checked.be.