AGL: 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.
What changed
AGL
NACE 64.210, Activities of holding companies
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€481,300
2025 · €71.7m-€71.2m
Equity
€48.6m
2025 · €48.1m+€481,300
Cash
€3,210
2025 · €3,209+€1
Balance sheet total
€74.6m
2025 · €95.9m-€21.3m
Largest movements
Assets
- Receivables within one year -€21.3m
down €21.3m (-36.4%), from €58.5m to €37.2m
of which Other amounts receivable: -€20.8m
Equity and liabilities
- Other debts -€21.6m
down €21.6m (-46.0%), from €46.9m to €25.3m
Income statement
- Financial income -€71.3m
down €71.3m (-98.3%), from €72.5m to €1.2m
From the 2025 result to the 2026 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.
Result 2025
€71.7m
Other operating charges
+€67,239
Other operating items
-€7,806
Financial income
-€71.3m
Financial charges
-€12,472
Taxes
+€52,867
Result 2026
€481,300
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1
Investment
€0
Financing
€0
Cash 2025
€3,209
From operations (derived)
+€1
Net result for the year
+€481,300
Receivables within one year
+€21.3m
Smaller working-capital items
-€52,639
Trade debts
-€99,852
Other debts
-€21.6m
Cash 2026
€3,210
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €95,868,638 | €74,616,405 | -€21.3m | -22.2% |
| Fixed assets | 21/28 | €37,085,188 | €37,085,188 | = | 0.0% |
| Financial fixed assets | 28 | €37,085,188 | €37,085,188 | = | 0.0% |
| Affiliated companies | 280/1 | €37,085,188 | €37,085,188 | = | 0.0% |
| Participating interests | 280 | €37,085,188 | €37,085,188 | = | 0.0% |
| Current assets | 29/58 | €58,783,450 | €37,531,217 | -€21.3m | -36.2% |
| Amounts receivable after more than one year | 29 | €323,750 | €323,750 | = | 0.0% |
| Other amounts receivable | 291 | €323,750 | €323,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,456,491 | €37,204,257 | -€21.3m | -36.4% |
| Trade receivables | 40 | €1,320,499 | €843,930 | -€476,569 | -36.1% |
| Other amounts receivable | 41 | €57,135,992 | €36,360,327 | -€20.8m | -36.4% |
| Cash at bank and in hand | 54/58 | €3,209 | €3,210 | +€1 | 0.0% |
| Deferred charges and accrued income | 490/1 | - | €0 | +€0 | |
| Total equity and liabilities | 10/49 | €95,868,638 | €74,616,405 | -€21.3m | -22.2% |
| Equity | 10/15 | €48,133,866 | €48,615,166 | +€481,300 | +1.0% |
| Contributions | 10/11 | €32,797,200 | €32,797,200 | = | 0.0% |
| Capital | 10 | €32,797,200 | €32,797,200 | = | 0.0% |
| Issued capital | 100 | €32,797,200 | €32,797,200 | = | 0.0% |
| Reserves | 13 | €3,279,720 | €3,279,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,279,720 | €3,279,720 | = | 0.0% |
| Legal reserve | 130 | €3,279,720 | €3,279,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,056,946 | €12,538,246 | +€481,300 | +4.0% |
| Amounts payable | 17/49 | €47,734,772 | €26,001,239 | -€21.7m | -45.5% |
| Amounts payable within one year | 42/48 | €47,734,772 | €26,001,239 | -€21.7m | -45.5% |
| Trade debts | 44 | €739,677 | €639,826 | -€99,852 | -13.5% |
| Suppliers | 440/4 | €739,677 | €639,826 | -€99,852 | -13.5% |
| Taxes, remuneration and social security | 45 | €110,164 | €57,525 | -€52,639 | -47.8% |
| Taxes | 450/3 | €110,164 | €57,525 | -€52,639 | -47.8% |
| Other amounts payable | 47/48 | €46,884,931 | €25,303,889 | -€21.6m | -46.0% |
| Operating income | 70/76A | €415 | - | -€415 | |
| Other operating income | 74 | €415 | - | -€415 | |
| Operating charges | 60/66A | €104,314 | €44,466 | -€59,848 | -57.4% |
| Services and other goods | 61 | - | €7,391 | +€7,391 | |
| Other operating charges | 640/8 | €104,314 | €37,075 | -€67,239 | -64.5% |
| Operating profit (loss) | 9901 | -€103,899 | -€44,466 | +€59,433 | +57.2% |
| Financial income | 75/76B | €72,510,230 | €1,206,831 | -€71.3m | -98.3% |
| Recurring financial income | 75 | €72,510,230 | €1,206,831 | -€71.3m | -98.3% |
| Income from financial fixed assets | 750 | €71,494,207 | €359,198 | -€71.1m | -99.5% |
| Income from current assets | 751 | €1,015,999 | €847,633 | -€168,365 | -16.6% |
| Other financial income | 752/9 | €25 | - | -€25 | |
| Financial charges | 65/66B | €611,068 | €623,540 | +€12,472 | +2.0% |
| Recurring financial charges | 65 | €611,068 | €623,540 | +€12,472 | +2.0% |
| Debt charges | 650 | €607,953 | €621,063 | +€13,110 | +2.2% |
| Other financial charges | 652/9 | €3,116 | €2,478 | -€638 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €71,795,263 | €538,825 | -€71.3m | -99.2% |
| Income taxes | 67/77 | €110,392 | €57,525 | -€52,867 | -47.9% |
| Taxes | 670/3 | €110,392 | €57,525 | -€52,867 | -47.9% |
| Profit (loss) for the period | 9904 | €71,684,871 | €481,300 | -€71.2m | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,684,871 | €481,300 | -€71.2m | -99.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.