AGORA: 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.
AGORA
Largest movements
- Tangible fixed assets -€231,941
down €231,941 (-51.7%), from €448,663 to €216,722
of which Land and buildings: -€226,587
- Receivables within one year +€10,912
up €10,912 (+426.0%), from €2,561 to €13,473
of which Other amounts receivable: +€12,509
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Other debts -€98,383
down €98,383 (-100.0%), from €98,383 to €0
- Reserves -€73,996
down €73,996 (-25.2%), from €293,999 to €220,003
of which Distributable reserves: -€73,996
- Profit (loss) carried forward +€51,138
up €51,138, from -€51,138 to €0
- Gross operating margin +€17,602
up €17,602 (+57.2%), from -€30,789 to -€13,188
- Depreciation -€6,873
down €6,873 (-56.2%), from €12,226 to €5,353
- Financial charges -€3,862
down €3,862 (-72.9%), from €5,295 to €1,432
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 | €462,354 | €240,208 | -€222,146 | -48.0% |
| Fixed assets | 21/28 | €448,663 | €216,722 | -€231,941 | -51.7% |
| Tangible fixed assets | 22/27 | €448,663 | €216,722 | -€231,941 | -51.7% |
| Land and buildings | 22 | €430,457 | €203,869 | -€226,587 | -52.6% |
| Furniture and vehicles | 24 | €18,206 | €12,853 | -€5,353 | -29.4% |
| Current assets | 29/58 | €13,691 | €23,486 | +€9,795 | +71.5% |
| Amounts receivable within one year | 40/41 | €2,561 | €13,473 | +€10,912 | +426.0% |
| Trade receivables | 40 | €1,597 | €0 | -€1,597 | -100.0% |
| Other amounts receivable | 41 | €964 | €13,473 | +€12,509 | +1297.5% |
| Cash at bank and in hand | 54/58 | €8,940 | €7,873 | -€1,067 | -11.9% |
| Deferred charges and accrued income | 490/1 | €2,190 | €2,140 | -€50 | -2.3% |
| Total equity and liabilities | 10/49 | €462,354 | €240,208 | -€222,146 | -48.0% |
| Equity | 10/15 | €261,453 | €238,595 | -€22,858 | -8.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €293,999 | €220,003 | -€73,996 | -25.2% |
| Tax-exempt reserves | 132 | €30,667 | €30,667 | = | 0.0% |
| Distributable reserves | 133 | €263,332 | €189,336 | -€73,996 | -28.1% |
| Profit (loss) carried forward | 14 | -€51,138 | €0 | +€51,138 | |
| Amounts payable | 17/49 | €200,901 | €1,613 | -€199,288 | -99.2% |
| Amounts payable within one year | 42/48 | €200,901 | €1,613 | -€199,288 | -99.2% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €275 | €772 | +€497 | +180.5% |
| Suppliers | 440/4 | €275 | €772 | +€497 | +180.5% |
| Taxes, remuneration and social security | 45 | €2,243 | €841 | -€1,402 | -62.5% |
| Taxes | 450/3 | €2,243 | €841 | -€1,402 | -62.5% |
| Other amounts payable | 47/48 | €98,383 | €0 | -€98,383 | -100.0% |
| Non-recurring operating income | 76A | - | €13,672 | +€13,672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,226 | €5,353 | -€6,873 | -56.2% |
| Other operating charges | 640/8 | €2,548 | €2,533 | -€16 | -0.6% |
| Gross operating margin | 9900 | -€30,789 | -€13,188 | +€17,602 | +57.2% |
| Operating profit (loss) | 9901 | -€45,564 | -€21,074 | +€24,491 | +53.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €5,295 | €1,432 | -€3,862 | -72.9% |
| Recurring financial charges | 65 | €5,295 | €1,432 | -€3,862 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | -€50,859 | -€22,506 | +€28,353 | +55.7% |
| Income taxes | 67/77 | €279 | €352 | +€73 | +26.2% |
| Profit (loss) for the period | 9904 | -€51,138 | -€22,858 | +€28,280 | +55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,138 | -€22,858 | +€28,280 | +55.3% |
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 28 September 2026 via checked.be.