+ AGENCY: 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.
+ AGENCY
Largest movements
- Receivables within one year +€102,206
up €102,206 (+331%), from €30,888 to €133,093
of which Trade receivables: +€109,215
- Cash -€44,014
down €44,014 (-31.6%), from €139,177 to €95,163
mainly Receivables within one year (-€102,206) and Investment in fixed assets (net) (-€3,177)
- Tangible fixed assets -€4,608
down €4,608 (-39.6%), from €11,637 to €7,029
of which Other tangible fixed assets: -€4,155
- Trade debts +€30,868
up €30,868 (+75.3%), from €40,986 to €71,853
- Tax, wage and social debts +€12,921
up €12,921 (+74.7%), from €17,291 to €30,212
of which Taxes: +€8,921
- Reserves +€8,177
up €8,177 (+7.3%), from €111,911 to €120,089
- Taxes +€7,225
up €7,225 (+220%), from €3,291 to €10,516
- Gross operating margin +€5,925
up €5,925 (+26.6%), from €22,305 to €28,230
- Depreciation -€4,932
down €4,932 (-39.7%), from €12,417 to €7,486
- Financial income +€1,189
up €1,189 (+42,171%), from €3 to €1,192
- Financial charges -€306
down €306 (-54.3%), from €563 to €257
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 | €187,365 | €240,517 | +€53,153 | +28.4% |
| Fixed assets | 21/28 | €13,437 | €9,129 | -€4,308 | -32.1% |
| Tangible fixed assets | 22/27 | €11,637 | €7,029 | -€4,608 | -39.6% |
| Plant, machinery and equipment | 23 | - | €1,549 | +€1,549 | |
| Furniture and vehicles | 24 | €4,466 | €2,463 | -€2,003 | -44.8% |
| Other tangible fixed assets | 26 | €7,171 | €3,016 | -€4,155 | -57.9% |
| Financial fixed assets | 28 | €1,800 | €2,100 | +€300 | +16.7% |
| Current assets | 29/58 | €173,927 | €231,388 | +€57,461 | +33.0% |
| Amounts receivable within one year | 40/41 | €30,888 | €133,093 | +€102,206 | +331% |
| Trade receivables | 40 | €23,878 | €133,093 | +€109,215 | +457% |
| Other amounts receivable | 41 | €7,010 | - | -€7,010 | |
| Cash at bank and in hand | 54/58 | €139,177 | €95,163 | -€44,014 | -31.6% |
| Deferred charges and accrued income | 490/1 | €3,862 | €3,132 | -€730 | -18.9% |
| Total equity and liabilities | 10/49 | €187,365 | €240,517 | +€53,153 | +28.4% |
| Equity | 10/15 | €129,077 | €137,254 | +€8,177 | +6.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €111,911 | €120,089 | +€8,177 | +7.3% |
| Distributable reserves | 133 | €111,911 | €120,089 | +€8,177 | +7.3% |
| Profit (loss) carried forward | 14 | €4,766 | €4,766 | = | 0.0% |
| Amounts payable | 17/49 | €58,288 | €103,263 | +€44,975 | +77.2% |
| Amounts payable within one year | 42/48 | €58,288 | €103,263 | +€44,975 | +77.2% |
| Trade debts | 44 | €40,986 | €71,853 | +€30,868 | +75.3% |
| Suppliers | 440/4 | €40,986 | €71,853 | +€30,868 | +75.3% |
| Taxes, remuneration and social security | 45 | €17,291 | €30,212 | +€12,921 | +74.7% |
| Taxes | 450/3 | €3,291 | €12,212 | +€8,921 | +271% |
| Remuneration and social security | 454/9 | €14,000 | €18,000 | +€4,000 | +28.6% |
| Other amounts payable | 47/48 | €11 | €1,198 | +€1,187 | +10,787% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,417 | €7,486 | -€4,932 | -39.7% |
| Other operating charges | 640/8 | €1,946 | €2,152 | +€207 | +10.6% |
| Gross operating margin | 9900 | €22,305 | €28,230 | +€5,925 | +26.6% |
| Operating profit (loss) | 9901 | €7,942 | €18,592 | +€10,650 | +134% |
| Financial income | 75/76B | €3 | €1,192 | +€1,189 | +42,171% |
| Recurring financial income | 75 | €3 | €1,192 | +€1,189 | +42,171% |
| Financial charges | 65/66B | €563 | €257 | -€306 | -54.3% |
| Recurring financial charges | 65 | €563 | €257 | -€306 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | €7,381 | €19,527 | +€12,146 | +165% |
| Income taxes | 67/77 | €3,291 | €10,516 | +€7,225 | +220% |
| Profit (loss) for the period | 9904 | €4,090 | €9,010 | +€4,920 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €4,090 | €9,010 | +€4,920 | +120% |
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 27 October 2026 via checked.be.