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
- Receivables within one year -€453,513
down €453,513 (-34.2%), from €1.3m to €872,241
of which Trade receivables: -€434,641
- Cash -€26,801
down €26,801 (-41.6%), from €64,489 to €37,689
mainly Net result for the year (-€582,728) and Debts after one year (-€26,665)
- Tangible fixed assets -€23,073
down €23,073 (-17.2%), from €134,480 to €111,407
of which Plant, machinery and equipment: -€20,833
- Profit (loss) carried forward -€582,728
down €582,728 (-164.9%), from -€353,410 to -€936,138
- Contributions +€131,000
up €131,000 (+27.9%), from €469,007 to €600,007
- Debts after one year -€26,665
down €26,665 (-31.1%), from €85,760 to €59,096
of which Financial debts: -€26,665
- Trade debts -€20,020
down €20,020 (-5.2%), from €381,678 to €361,658
- Gross operating margin -€575,756
down €575,756, from €368,034 to -€207,722
- Staff costs +€21,026
up €21,026 (+7.9%), from €264,969 to €285,995
- Depreciation -€8,173
down €8,173 (-26.2%), from €31,247 to €23,073
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 | €1,568,997 | €1,059,155 | -€509,842 | -32.5% |
| Fixed assets | 21/28 | €139,560 | €114,007 | -€25,553 | -18.3% |
| Tangible fixed assets | 22/27 | €134,480 | €111,407 | -€23,073 | -17.2% |
| Plant, machinery and equipment | 23 | €130,930 | €110,097 | -€20,833 | -15.9% |
| Furniture and vehicles | 24 | €3,550 | €1,310 | -€2,241 | -63.1% |
| Financial fixed assets | 28 | €5,080 | €2,600 | -€2,480 | -48.8% |
| Current assets | 29/58 | €1,429,437 | €945,148 | -€484,289 | -33.9% |
| Amounts receivable within one year | 40/41 | €1,325,754 | €872,241 | -€453,513 | -34.2% |
| Trade receivables | 40 | €1,272,136 | €837,495 | -€434,641 | -34.2% |
| Other amounts receivable | 41 | €53,618 | €34,746 | -€18,872 | -35.2% |
| Cash at bank and in hand | 54/58 | €64,489 | €37,689 | -€26,801 | -41.6% |
| Deferred charges and accrued income | 490/1 | €39,194 | €35,219 | -€3,975 | -10.1% |
| Total equity and liabilities | 10/49 | €1,568,997 | €1,059,155 | -€509,842 | -32.5% |
| Equity | 10/15 | €144,233 | -€307,494 | -€451,728 | |
| Contributions | 10/11 | €469,007 | €600,007 | +€131,000 | +27.9% |
| Capital | 10 | €469,007 | €600,007 | +€131,000 | +27.9% |
| Issued capital | 100 | €469,007 | €600,007 | +€131,000 | +27.9% |
| Reserves | 13 | €28,637 | €28,637 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,887 | €9,887 | = | 0.0% |
| Legal reserve | 130 | €9,887 | €9,887 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€353,410 | -€936,138 | -€582,728 | -164.9% |
| Amounts payable | 17/49 | €1,424,764 | €1,366,649 | -€58,115 | -4.1% |
| Amounts payable after more than one year | 17 | €85,760 | €59,096 | -€26,665 | -31.1% |
| Financial debts | 170/4 | €84,760 | €58,096 | -€26,665 | -31.5% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,312,108 | €1,292,001 | -€20,107 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €39,694 | €26,665 | -€13,029 | -32.8% |
| Financial debts | 43 | €800,018 | €800,106 | +€87 | 0.0% |
| Credit institutions | 430/8 | €800,018 | €800,106 | +€87 | 0.0% |
| Trade debts | 44 | €381,678 | €361,658 | -€20,020 | -5.2% |
| Suppliers | 440/4 | €381,678 | €361,658 | -€20,020 | -5.2% |
| Taxes, remuneration and social security | 45 | €86,485 | €101,181 | +€14,696 | +17.0% |
| Taxes | 450/3 | €25,860 | €10,423 | -€15,437 | -59.7% |
| Remuneration and social security | 454/9 | €60,625 | €90,759 | +€30,133 | +49.7% |
| Other amounts payable | 47/48 | €4,232 | €2,391 | -€1,841 | -43.5% |
| Accrued charges and deferred income | 492/3 | €26,896 | €15,552 | -€11,343 | -42.2% |
| Remuneration, social security and pensions | 62 | €264,969 | €285,995 | +€21,026 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,247 | €23,073 | -€8,173 | -26.2% |
| Other operating charges | 640/8 | €1,018 | €998 | -€19 | -1.9% |
| Gross operating margin | 9900 | €368,034 | -€207,722 | -€575,756 | |
| Operating profit (loss) | 9901 | €70,801 | -€517,789 | -€588,590 | |
| Financial income | 75/76B | €3,151 | €1,034 | -€2,117 | -67.2% |
| Recurring financial income | 75 | €3,151 | €1,034 | -€2,117 | -67.2% |
| Financial charges | 65/66B | €69,914 | €66,591 | -€3,324 | -4.8% |
| Recurring financial charges | 65 | €69,914 | €66,591 | -€3,324 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €4,038 | -€583,345 | -€587,383 | |
| Income taxes | 67/77 | €618 | -€618 | -€1,235 | |
| Profit (loss) for the period | 9904 | €3,420 | -€582,728 | -€586,148 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,420 | -€582,728 | -€586,148 |
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 2 October 2026 via checked.be.