AGIFRA: 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
AGIFRA
NACE 66.220, Insurance agents and brokers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €747,128+€723,549
Equity
€4.3m
2024 · €3.1m+€1.2m
Cash
€293,347
2024 · €90,807+€202,541
Balance sheet total
€8.3m
2024 · €8.3m-€7,738
Largest movements
Assets
- Intangible fixed assets -€277,467
down €277,467 (-76.0%), from €365,323 to €87,856
- Cash +€202,541
up €202,541 (+223%), from €90,807 to €293,347
mainly Net result for the year (+€1.5m) and Depreciation (+€399,639)
Equity and liabilities
- Profit (loss) carried forward +€1.2m
up €1.2m (+75.0%), from €1.6m to €2.9m
- Debts after one year -€1.1m
down €1.1m (-33.0%), from €3.4m to €2.3m
- Short-term financial debts -€485,000
down €485,000 (-59.9%), from €810,000 to €325,000
- Current portion of long-term debt +€194,587
up €194,587 (+31.1%), from €625,935 to €820,521
- Other debts +€90,000
up €90,000 (+60.0%), from €150,000 to €240,000
Income statement
- Financial income +€429,318
up €429,318 (+71.2%), from €603,293 to €1.0m
- Gross operating margin +€262,048
up €262,048 (+13.3%), from €2.0m to €2.2m
- Financial charges -€171,466
down €171,466 (-37.3%), from €460,080 to €288,614
- Taxes +€69,069
up €69,069 (+62.7%), from €110,224 to €179,293
- Depreciation +€41,615
up €41,615 (+11.6%), from €358,024 to €399,639
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.
Result 2024
€747,128
Gross operating margin
+€262,048
Staff costs
-€26,649
Depreciation
-€41,615
Other operating charges
-€1,405
Financial income
+€429,318
Financial charges
+€171,466
Taxes
-€69,069
Deferred taxes and other
-€545
Result 2025
€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.1m
Investment
-€187,843
Financing
-€1.7m
Cash 2024
€90,807
From operations (derived)
+€2.1m
Net result for the year
+€1.5m
Depreciation
+€399,639
Receivables within one year
+€16,548
Deferred charges and accrued income
-€18,065
Provisions
-€739
Trade debts
+€51,834
Tax, wage and social debts
+€41,785
Other debts
+€90,000
Investment (derived)
-€187,843
Investment in fixed assets (net)
-€187,843
Financing
-€1.7m
Debts after one year
-€1.1m
Current portion of long-term debt
+€194,587
Short-term financial debts
-€485,000
Contributions, distributions and other
-€240,000
Cash 2025
€293,347
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,297,638 | €8,289,899 | -€7,738 | -0.1% |
| Fixed assets | 21/28 | €7,896,504 | €7,684,708 | -€211,796 | -2.7% |
| Intangible fixed assets | 21 | €365,323 | €87,856 | -€277,467 | -76.0% |
| Tangible fixed assets | 22/27 | €708,036 | €713,707 | +€5,671 | +0.8% |
| Land and buildings | 22 | €578,665 | €545,118 | -€33,547 | -5.8% |
| Furniture and vehicles | 24 | €129,371 | €168,588 | +€39,218 | +30.3% |
| Financial fixed assets | 28 | €6,823,145 | €6,883,145 | +€60,000 | +0.9% |
| Current assets | 29/58 | €401,134 | €605,191 | +€204,058 | +50.9% |
| Amounts receivable within one year | 40/41 | €272,575 | €256,027 | -€16,548 | -6.1% |
| Trade receivables | 40 | €272,575 | €256,027 | -€16,548 | -6.1% |
| Cash at bank and in hand | 54/58 | €90,807 | €293,347 | +€202,541 | +223% |
| Deferred charges and accrued income | 490/1 | €37,752 | €55,817 | +€18,065 | +47.9% |
| Total equity and liabilities | 10/49 | €8,297,638 | €8,289,899 | -€7,738 | -0.1% |
| Equity | 10/15 | €3,098,742 | €4,329,418 | +€1.2m | +39.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,238,082 | €1,238,082 | = | 0.0% |
| Reserves | 13 | €155,342 | €153,907 | -€1,435 | -0.9% |
| Non-distributable reserves | 130/1 | €27,812 | €27,812 | = | 0.0% |
| Legal reserve | 130 | €27,812 | €27,812 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,331 | €54,896 | -€1,435 | -2.5% |
| Distributable reserves | 133 | €71,200 | €71,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,643,317 | €2,875,429 | +€1.2m | +75.0% |
| Provisions and deferred taxes | 16 | €1,510 | €771 | -€739 | -49.0% |
| Deferred taxes | 168 | €1,510 | €771 | -€739 | -49.0% |
| Amounts payable | 17/49 | €5,197,386 | €3,959,710 | -€1.2m | -23.8% |
| Amounts payable after more than one year | 17 | €3,428,764 | €2,297,883 | -€1.1m | -33.0% |
| Financial debts | 170/4 | €3,428,764 | €2,297,883 | -€1.1m | -33.0% |
| Amounts payable within one year | 42/48 | €1,768,623 | €1,661,828 | -€106,795 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €625,935 | €820,521 | +€194,587 | +31.1% |
| Financial debts | 43 | €810,000 | €325,000 | -€485,000 | -59.9% |
| Other loans | 439 | €810,000 | €325,000 | -€485,000 | -59.9% |
| Trade debts | 44 | €74,231 | €126,065 | +€51,834 | +69.8% |
| Suppliers | 440/4 | €74,231 | €126,065 | +€51,834 | +69.8% |
| Taxes, remuneration and social security | 45 | €108,457 | €150,241 | +€41,785 | +38.5% |
| Taxes | 450/3 | €9,626 | €58,933 | +€49,307 | +512% |
| Remuneration and social security | 454/9 | €98,830 | €91,308 | -€7,522 | -7.6% |
| Other amounts payable | 47/48 | €150,000 | €240,000 | +€90,000 | +60.0% |
| Non-recurring operating income | 76A | €2,500 | €609 | -€1,891 | -75.6% |
| Remuneration, social security and pensions | 62 | €890,754 | €917,402 | +€26,649 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €358,024 | €399,639 | +€41,615 | +11.6% |
| Other operating charges | 640/8 | €7,661 | €9,065 | +€1,405 | +18.3% |
| Gross operating margin | 9900 | €1,969,292 | €2,231,340 | +€262,048 | +13.3% |
| Operating profit (loss) | 9901 | €712,854 | €905,234 | +€192,380 | +27.0% |
| Financial income | 75/76B | €603,293 | €1,032,611 | +€429,318 | +71.2% |
| Recurring financial income | 75 | €603,293 | €1,032,611 | +€429,318 | +71.2% |
| Financial charges | 65/66B | €460,080 | €288,614 | -€171,466 | -37.3% |
| Recurring financial charges | 65 | €460,080 | €288,614 | -€171,466 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €856,067 | €1,649,230 | +€793,164 | +92.7% |
| Transfer from deferred taxes | 780 | €1,285 | €739 | -€545 | -42.5% |
| Income taxes | 67/77 | €110,224 | €179,293 | +€69,069 | +62.7% |
| Profit (loss) for the period | 9904 | €747,128 | €1,470,677 | +€723,549 | +96.8% |
| Transfer from tax-exempt reserves | 789 | €2,494 | €1,435 | -€1,059 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €749,621 | €1,472,112 | +€722,490 | +96.4% |
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 31 October 2026 via checked.be.