AGTRA: 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.
AGTRA
Largest movements
- Stocks and contracts +€58,993
up €58,993 (+84.3%), from €70,000 to €128,993
- Tangible fixed assets -€36,596
down €36,596 (-46.3%), from €79,056 to €42,460
of which Furniture and vehicles: -€20,594
- Cash +€7,192
up €7,192 (+42.5%), from €16,919 to €24,111
mainly Net result for the year (+€24,968) and Depreciation (+€22,704)
- Reserves +€24,968
up €24,968 (+18.7%), from €133,667 to €158,636
- Trade debts +€19,540
up €19,540 (+652.2%), from €2,996 to €22,536
- Debts after one year -€16,248
down €16,248 (-70.6%), from €23,018 to €6,770
- Tax, wage and social debts +€10,777
up €10,777 (+97.6%), from €11,040 to €21,817
of which Remuneration and social security: +€7,935
- Current portion of long-term debt -€7,209
down €7,209 (-21.5%), from €33,457 to €26,248
- Gross operating margin +€107,859
up €107,859 (+64.8%), from €166,490 to €274,348
- Staff costs +€80,332
up €80,332 (+67.6%), from €118,858 to €199,191
- Depreciation -€9,624
down €9,624 (-29.8%), from €32,328 to €22,704
- Taxes +€8,716
up €8,716 (+431.1%), from €2,022 to €10,739
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 | €216,600 | €248,975 | +€32,375 | +14.9% |
| Fixed assets | 21/28 | €81,656 | €45,060 | -€36,596 | -44.8% |
| Tangible fixed assets | 22/27 | €79,056 | €42,460 | -€36,596 | -46.3% |
| Plant, machinery and equipment | 23 | €5,920 | €2,917 | -€3,003 | -50.7% |
| Furniture and vehicles | 24 | €26,627 | €6,033 | -€20,594 | -77.3% |
| Leasing and similar rights | 25 | €46,509 | €33,511 | -€12,998 | -27.9% |
| Financial fixed assets | 28 | €2,600 | €2,600 | = | 0.0% |
| Current assets | 29/58 | €134,944 | €203,915 | +€68,971 | +51.1% |
| Stocks and contracts in progress | 3 | €70,000 | €128,993 | +€58,993 | +84.3% |
| Contracts in progress | 37 | €70,000 | €128,993 | +€58,993 | +84.3% |
| Amounts receivable within one year | 40/41 | €44,044 | €44,439 | +€395 | +0.9% |
| Trade receivables | 40 | €1,057 | €2,976 | +€1,919 | +181.7% |
| Other amounts receivable | 41 | €42,987 | €41,463 | -€1,524 | -3.5% |
| Cash at bank and in hand | 54/58 | €16,919 | €24,111 | +€7,192 | +42.5% |
| Deferred charges and accrued income | 490/1 | €3,981 | €6,372 | +€2,391 | +60.0% |
| Total equity and liabilities | 10/49 | €216,600 | €248,975 | +€32,375 | +14.9% |
| Equity | 10/15 | €146,067 | €171,036 | +€24,968 | +17.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €133,667 | €158,636 | +€24,968 | +18.7% |
| Distributable reserves | 133 | €133,667 | €158,636 | +€24,968 | +18.7% |
| Amounts payable | 17/49 | €70,533 | €77,940 | +€7,407 | +10.5% |
| Amounts payable after more than one year | 17 | €23,018 | €6,770 | -€16,248 | -70.6% |
| Financial debts | 170/4 | €23,018 | €6,770 | -€16,248 | -70.6% |
| Amounts payable within one year | 42/48 | €47,515 | €71,170 | +€23,655 | +49.8% |
| Current portion of amounts payable after more than one year | 42 | €33,457 | €26,248 | -€7,209 | -21.5% |
| Trade debts | 44 | €2,996 | €22,536 | +€19,540 | +652.2% |
| Suppliers | 440/4 | €2,996 | €22,536 | +€19,540 | +652.2% |
| Taxes, remuneration and social security | 45 | €11,040 | €21,817 | +€10,777 | +97.6% |
| Taxes | 450/3 | €392 | €3,234 | +€2,842 | +725.7% |
| Remuneration and social security | 454/9 | €10,648 | €18,583 | +€7,935 | +74.5% |
| Other amounts payable | 47/48 | €21 | €568 | +€547 | +2566.7% |
| Remuneration, social security and pensions | 62 | €118,858 | €199,191 | +€80,332 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,328 | €22,704 | -€9,624 | -29.8% |
| Other operating charges | 640/8 | €4,960 | €5,303 | +€343 | +6.9% |
| Non-recurring operating charges | 66A | €2,850 | €9,592 | +€6,742 | +236.6% |
| Gross operating margin | 9900 | €166,490 | €274,348 | +€107,859 | +64.8% |
| Operating profit (loss) | 9901 | €7,494 | €37,559 | +€30,065 | +401.2% |
| Financial income | 75/76B | €575 | €623 | +€48 | +8.4% |
| Recurring financial income | 75 | €575 | €623 | +€48 | +8.4% |
| Financial charges | 65/66B | €3,090 | €2,475 | -€615 | -19.9% |
| Recurring financial charges | 65 | €2,993 | €2,475 | -€518 | -17.3% |
| Non-recurring financial charges | 66B | €97 | - | -€97 | |
| Profit (loss) for the period before taxes | 9903 | €4,978 | €35,707 | +€30,728 | +617.2% |
| Income taxes | 67/77 | €2,022 | €10,739 | +€8,716 | +431.1% |
| Profit (loss) for the period | 9904 | €2,956 | €24,968 | +€22,012 | +744.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,956 | €24,968 | +€22,012 | +744.5% |
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 7 October 2026 via checked.be.