Agnews: 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.
Agnews
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+726%), from €232,192 to €1.9m
of which Trade receivables: +€1.6m
- Stocks and contracts +€672,497
up €672,497 (+28.4%), from €2.4m to €3.0m
- Cash -€142,850
down €142,850 (-78.2%), from €182,680 to €39,831
mainly Receivables within one year (-€1.7m) and Stocks and contracts (-€672,497)
- Deferred charges and accrued income +€64,570
up €64,570 (+6,675%), from €967 to €65,538
- Trade debts +€1.1m
up €1.1m (+500%), from €222,449 to €1.3m
- Advances received +€500,000
new in 2025: €500,000
- Reserves +€254,993
new in 2025: €254,993
- Other debts +€213,207
up €213,207 (+2,216%), from €9,620 to €222,828
- Debts after one year +€180,678
up €180,678 (+7.2%), from €2.5m to €2.7m
- Gross operating margin +€392,654
up €392,654 (+167%), from €234,569 to €627,223
- Taxes +€97,702
up €97,702 (+2,119%), from €4,610 to €102,312
- Write-downs +€40,680
new in 2025: €40,680
- Staff costs +€20,362
up €20,362 (+12.1%), from €168,908 to €189,270
- Financial charges -€7,038
down €7,038 (-30.9%), from €22,747 to €15,709
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 | €2,782,655 | €5,089,458 | +€2.3m | +82.9% |
| Fixed assets | 21/28 | €1,688 | €28,395 | +€26,707 | +1,582% |
| Tangible fixed assets | 22/27 | €1,688 | €19,027 | +€17,339 | +1,027% |
| Plant, machinery and equipment | 23 | - | €1,076 | +€1,076 | |
| Furniture and vehicles | 24 | - | €12,231 | +€12,231 | |
| Other tangible fixed assets | 26 | €1,688 | €5,720 | +€4,032 | +239% |
| Financial fixed assets | 28 | - | €9,368 | +€9,368 | |
| Current assets | 29/58 | €2,780,967 | €5,061,063 | +€2.3m | +82.0% |
| Stocks and contracts in progress | 3 | €2,365,128 | €3,037,625 | +€672,497 | +28.4% |
| Stocks | 30/36 | €2,365,128 | €3,037,625 | +€672,497 | +28.4% |
| Amounts receivable within one year | 40/41 | €232,192 | €1,918,069 | +€1.7m | +726% |
| Trade receivables | 40 | €193,721 | €1,814,340 | +€1.6m | +837% |
| Other amounts receivable | 41 | €38,470 | €103,729 | +€65,258 | +170% |
| Cash at bank and in hand | 54/58 | €182,680 | €39,831 | -€142,850 | -78.2% |
| Deferred charges and accrued income | 490/1 | €967 | €65,538 | +€64,570 | +6,675% |
| Total equity and liabilities | 10/49 | €2,782,655 | €5,089,458 | +€2.3m | +82.9% |
| Equity | 10/15 | €2,702 | €264,993 | +€262,291 | +9,707% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €254,993 | +€254,993 | |
| Distributable reserves | 133 | - | €254,993 | +€254,993 | |
| Profit (loss) carried forward | 14 | -€7,298 | €0 | +€7,298 | |
| Amounts payable | 17/49 | €2,779,953 | €4,824,464 | +€2.0m | +73.5% |
| Amounts payable after more than one year | 17 | €2,520,469 | €2,701,147 | +€180,678 | +7.2% |
| Other amounts payable | 178/9 | €2,520,469 | €2,701,147 | +€180,678 | +7.2% |
| Amounts payable within one year | 42/48 | €256,685 | €2,121,460 | +€1.9m | +726% |
| Trade debts | 44 | €222,449 | €1,335,399 | +€1.1m | +500% |
| Suppliers | 440/4 | €222,449 | €1,335,399 | +€1.1m | +500% |
| Advances received on contracts in progress | 46 | - | €500,000 | +€500,000 | |
| Taxes, remuneration and social security | 45 | €24,616 | €63,233 | +€38,617 | +157% |
| Taxes | 450/3 | €7,694 | €40,006 | +€32,312 | +420% |
| Remuneration and social security | 454/9 | €16,922 | €23,226 | +€6,305 | +37.3% |
| Other amounts payable | 47/48 | €9,620 | €222,828 | +€213,207 | +2,216% |
| Accrued charges and deferred income | 492/3 | €2,799 | €1,858 | -€941 | -33.6% |
| Non-recurring operating income | 76A | €1,060 | €0 | -€1,060 | -100% |
| Remuneration, social security and pensions | 62 | €168,908 | €189,270 | +€20,362 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480 | €973 | +€493 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €40,680 | +€40,680 | |
| Other operating charges | 640/8 | €1,422 | €95 | -€1,327 | -93.3% |
| Gross operating margin | 9900 | €234,569 | €627,223 | +€392,654 | +167% |
| Operating profit (loss) | 9901 | €63,759 | €396,204 | +€332,445 | +521% |
| Financial income | 75/76B | €5,627 | €6,608 | +€981 | +17.4% |
| Recurring financial income | 75 | €5,627 | €6,608 | +€981 | +17.4% |
| Financial charges | 65/66B | €22,747 | €15,709 | -€7,038 | -30.9% |
| Recurring financial charges | 65 | €22,747 | €15,709 | -€7,038 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €46,638 | €387,103 | +€340,465 | +730% |
| Income taxes | 67/77 | €4,610 | €102,312 | +€97,702 | +2,119% |
| Profit (loss) for the period | 9904 | €42,028 | €284,791 | +€242,763 | +578% |
| Profit (loss) for the period to be appropriated | 9905 | €42,028 | €284,791 | +€242,763 | +578% |
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 17 October 2026 via checked.be.