Agirad: what changed
Two fiscal 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.
Agirad
Largest movements
- Cash +€120,240
up €120,240 (+62.4%), from €192,699 to €312,939
mainly Net result for the year (+€119,394) and Depreciation (+€12,686)
- Tangible fixed assets -€12,686
down €12,686 (-34.8%), from €36,436 to €23,750
of which Leasing and similar rights: -€11,353
- Current investments +€5,001
new in 2025: €5,001
- Reserves +€119,394
up €119,394 (+75.1%), from €158,951 to €278,345
- Debts after one year -€14,546
no longer reported in 2025 (was €14,546)
- Tax, wage and social debts +€6,586
up €6,586 (+17.1%), from €38,466 to €45,052
of which Taxes: +€6,415
- Gross operating margin +€11,013
up €11,013 (+7.1%), from €155,500 to €166,513
- Taxes +€2,922
up €2,922 (+9.6%), from €30,459 to €33,381
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.
Cash bridge derived
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 | €231,053 | €343,381 | +€112,329 | +48.6% |
| Fixed assets | 21/28 | €36,436 | €23,750 | -€12,686 | -34.8% |
| Tangible fixed assets | 22/27 | €36,436 | €23,750 | -€12,686 | -34.8% |
| Plant, machinery and equipment | 23 | €2,344 | €2,074 | -€271 | -11.5% |
| Furniture and vehicles | 24 | €3,816 | €2,754 | -€1,062 | -27.8% |
| Leasing and similar rights | 25 | €30,276 | €18,922 | -€11,353 | -37.5% |
| Current assets | 29/58 | €194,617 | €319,631 | +€125,014 | +64.2% |
| Amounts receivable within one year | 40/41 | €455 | - | -€455 | |
| Trade receivables | 40 | €455 | - | -€455 | |
| Current investments | 50/53 | - | €5,001 | +€5,001 | |
| Cash at bank and in hand | 54/58 | €192,699 | €312,939 | +€120,240 | +62.4% |
| Deferred charges and accrued income | 490/1 | €1,462 | €1,691 | +€229 | +15.6% |
| Total equity and liabilities | 10/49 | €231,053 | €343,381 | +€112,329 | +48.6% |
| Equity | 10/15 | €163,951 | €283,345 | +€119,394 | +72.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €158,951 | €278,345 | +€119,394 | +75.1% |
| Distributable reserves | 133 | €158,951 | €278,345 | +€119,394 | +75.1% |
| Amounts payable | 17/49 | €67,101 | €60,036 | -€7,065 | -10.5% |
| Amounts payable after more than one year | 17 | €14,546 | - | -€14,546 | |
| Financial debts | 170/4 | €14,546 | - | -€14,546 | |
| Amounts payable within one year | 42/48 | €52,555 | €60,036 | +€7,481 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €13,736 | €14,546 | +€810 | +5.9% |
| Trade debts | 44 | €258 | €343 | +€85 | +32.9% |
| Suppliers | 440/4 | €258 | €343 | +€85 | +32.9% |
| Taxes, remuneration and social security | 45 | €38,466 | €45,052 | +€6,586 | +17.1% |
| Taxes | 450/3 | €36,493 | €42,908 | +€6,415 | +17.6% |
| Remuneration and social security | 454/9 | €1,973 | €2,144 | +€171 | +8.7% |
| Other amounts payable | 47/48 | €95 | €95 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,394 | €12,686 | +€292 | +2.4% |
| Gross operating margin | 9900 | €155,500 | €166,513 | +€11,013 | +7.1% |
| Operating profit (loss) | 9901 | €143,106 | €153,827 | +€10,721 | +7.5% |
| Financial income | 75/76B | €376 | €252 | -€123 | -32.9% |
| Recurring financial income | 75 | €376 | €252 | -€123 | -32.9% |
| Financial charges | 65/66B | €2,071 | €1,304 | -€767 | -37.0% |
| Recurring financial charges | 65 | €2,071 | €1,304 | -€767 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €141,410 | €152,775 | +€11,365 | +8.0% |
| Income taxes | 67/77 | €30,459 | €33,381 | +€2,922 | +9.6% |
| Profit (loss) for the period | 9904 | €110,951 | €119,394 | +€8,443 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €110,951 | €119,394 | +€8,443 | +7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.