AGISKO: 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.
AGISKO
Largest movements
- Receivables within one year +€962,111
up €962,111 (+62.3%), from €1.5m to €2.5m
of which Trade receivables: +€915,505
- Deferred charges and accrued income +€631,946
up €631,946 (+1426.8%), from €44,292 to €676,238
- Cash -€272,307
down €272,307 (-61.5%), from €442,511 to €170,204
mainly Receivables within one year (-€962,111) and Deferred charges and accrued income (-€631,946)
- Stocks and contracts -€83,642
down €83,642 (-23.0%), from €362,900 to €279,258
- Intangible fixed assets -€64,803
down €64,803 (-37.7%), from €172,035 to €107,232
- Short-term financial debts +€505,000
new in 2026: €505,000
- Trade debts +€326,196
up €326,196 (+22.7%), from €1.4m to €1.8m
- Accrued charges and deferred income +€230,764
up €230,764 (+32.5%), from €709,503 to €940,267
- Reserves +€184,440
up €184,440 (+676.9%), from €27,250 to €211,690
- Tax, wage and social debts -€52,423
down €52,423 (-22.5%), from €233,010 to €180,588
of which Taxes: -€27,554
- Gross operating margin +€270,301
up €270,301 (+20.8%), from €1.3m to €1.6m
- Taxes +€82,730
up €82,730 (+370.2%), from €22,348 to €105,078
- Staff costs +€29,915
up €29,915 (+2.7%), from €1.1m to €1.1m
- Depreciation -€23,425
down €23,425 (-17.3%), from €135,306 to €111,882
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,705,523 | €3,916,353 | +€1.2m | +44.8% |
| Fixed assets | 21/28 | €311,025 | €283,747 | -€27,278 | -8.8% |
| Intangible fixed assets | 21 | €172,035 | €107,232 | -€64,803 | -37.7% |
| Tangible fixed assets | 22/27 | €123,766 | €114,881 | -€8,885 | -7.2% |
| Plant, machinery and equipment | 23 | €50,150 | €42,568 | -€7,582 | -15.1% |
| Furniture and vehicles | 24 | €27,407 | €12,132 | -€15,275 | -55.7% |
| Other tangible fixed assets | 26 | €46,210 | €60,181 | +€13,971 | +30.2% |
| Financial fixed assets | 28 | €15,225 | €61,635 | +€46,410 | +304.8% |
| Current assets | 29/58 | €2,394,498 | €3,632,606 | +€1.2m | +51.7% |
| Stocks and contracts in progress | 3 | €362,900 | €279,258 | -€83,642 | -23.0% |
| Contracts in progress | 37 | €362,900 | €279,258 | -€83,642 | -23.0% |
| Amounts receivable within one year | 40/41 | €1,544,795 | €2,506,906 | +€962,111 | +62.3% |
| Trade receivables | 40 | €1,513,290 | €2,428,795 | +€915,505 | +60.5% |
| Other amounts receivable | 41 | €31,504 | €78,110 | +€46,606 | +147.9% |
| Cash at bank and in hand | 54/58 | €442,511 | €170,204 | -€272,307 | -61.5% |
| Deferred charges and accrued income | 490/1 | €44,292 | €676,238 | +€631,946 | +1426.8% |
| Total equity and liabilities | 10/49 | €2,705,523 | €3,916,353 | +€1.2m | +44.8% |
| Equity | 10/15 | €27,253 | €211,693 | +€184,440 | +676.8% |
| Contributions | 10/11 | €3 | €3 | = | 0.0% |
| Reserves | 13 | €27,250 | €211,690 | +€184,440 | +676.9% |
| Distributable reserves | 133 | €27,250 | €211,690 | +€184,440 | +676.9% |
| Amounts payable | 17/49 | €2,678,270 | €3,704,660 | +€1.0m | +38.3% |
| Amounts payable after more than one year | 17 | €300,000 | €313,285 | +€13,285 | +4.4% |
| Financial debts | 170/4 | €300,000 | €313,285 | +€13,285 | +4.4% |
| Amounts payable within one year | 42/48 | €1,668,767 | €2,451,107 | +€782,340 | +46.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,567 | +€3,567 | |
| Financial debts | 43 | - | €505,000 | +€505,000 | |
| Credit institutions | 430/8 | - | €505,000 | +€505,000 | |
| Trade debts | 44 | €1,435,757 | €1,761,953 | +€326,196 | +22.7% |
| Suppliers | 440/4 | €1,435,757 | €1,761,953 | +€326,196 | +22.7% |
| Taxes, remuneration and social security | 45 | €233,010 | €180,588 | -€52,423 | -22.5% |
| Taxes | 450/3 | €127,554 | €100,000 | -€27,554 | -21.6% |
| Remuneration and social security | 454/9 | €105,457 | €80,588 | -€24,869 | -23.6% |
| Accrued charges and deferred income | 492/3 | €709,503 | €940,267 | +€230,764 | +32.5% |
| Remuneration, social security and pensions | 62 | €1,102,403 | €1,132,318 | +€29,915 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,306 | €111,882 | -€23,425 | -17.3% |
| Other operating charges | 640/8 | €590 | €1,066 | +€476 | +80.6% |
| Gross operating margin | 9900 | €1,300,160 | €1,570,461 | +€270,301 | +20.8% |
| Operating profit (loss) | 9901 | €61,861 | €325,195 | +€263,335 | +425.7% |
| Financial income | 75/76B | €163 | €4,806 | +€4,643 | +2851.7% |
| Recurring financial income | 75 | €163 | €4,806 | +€4,643 | +2851.7% |
| Financial charges | 65/66B | €33,969 | €40,483 | +€6,514 | +19.2% |
| Recurring financial charges | 65 | €33,969 | €40,483 | +€6,514 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €28,055 | €289,518 | +€261,464 | +932.0% |
| Income taxes | 67/77 | €22,348 | €105,078 | +€82,730 | +370.2% |
| Profit (loss) for the period | 9904 | €5,707 | €184,440 | +€178,734 | +3132.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,707 | €184,440 | +€178,734 | +3132.0% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.