EURAGORA: 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.
EURAGORA
Largest movements
- Receivables within one year +€198,386
up €198,386 (+16.3%), from €1.2m to €1.4m
of which Trade receivables: +€145,728
- Cash -€94,139
down €94,139 (-31.1%), from €302,340 to €208,201
mainly Receivables within one year (-€198,386) and Stocks and contracts (-€54,029)
- Stocks and contracts +€54,029
up €54,029 (+14.5%), from €371,444 to €425,473
- Reserves +€156,000
up €156,000 (+10.5%), from €1.5m to €1.6m
- Trade debts +€29,730
up €29,730 (+9.8%), from €304,001 to €333,732
- Financial charges +€127,224
up €127,224 (+786%), from €16,176 to €143,400
of which Non-recurring financial charges: +€127,410
- Taxes -€67,438
down €67,438 (-47.2%), from €142,858 to €75,420
- Staff costs +€61,422
up €61,422 (+37.8%), from €162,466 to €223,888
- Gross operating margin -€11,813
down €11,813 (-1.3%), from €922,080 to €910,267
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 | €1,955,325 | €2,109,816 | +€154,491 | +7.9% |
| Fixed assets | 21/28 | €46,749 | €44,131 | -€2,618 | -5.6% |
| Intangible fixed assets | 21 | €1,168 | €735 | -€433 | -37.0% |
| Tangible fixed assets | 22/27 | €38,883 | €41,262 | +€2,379 | +6.1% |
| Plant, machinery and equipment | 23 | €9,387 | €18,117 | +€8,730 | +93.0% |
| Furniture and vehicles | 24 | - | €2,741 | +€2,741 | |
| Leasing and similar rights | 25 | €12,016 | €6,595 | -€5,421 | -45.1% |
| Other tangible fixed assets | 26 | €17,480 | €13,810 | -€3,670 | -21.0% |
| Financial fixed assets | 28 | €6,698 | €2,133 | -€4,564 | -68.1% |
| Current assets | 29/58 | €1,908,576 | €2,065,685 | +€157,109 | +8.2% |
| Stocks and contracts in progress | 3 | €371,444 | €425,473 | +€54,029 | +14.5% |
| Stocks | 30/36 | €371,444 | €425,473 | +€54,029 | +14.5% |
| Amounts receivable within one year | 40/41 | €1,218,032 | €1,416,419 | +€198,386 | +16.3% |
| Trade receivables | 40 | €1,214,247 | €1,359,976 | +€145,728 | +12.0% |
| Other amounts receivable | 41 | €3,785 | €56,443 | +€52,658 | +1,391% |
| Current investments | 50/53 | €50 | €50 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €302,340 | €208,201 | -€94,139 | -31.1% |
| Deferred charges and accrued income | 490/1 | €16,709 | €15,543 | -€1,167 | -7.0% |
| Total equity and liabilities | 10/49 | €1,955,325 | €2,109,816 | +€154,491 | +7.9% |
| Equity | 10/15 | €1,506,612 | €1,662,817 | +€156,205 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,481,860 | €1,637,860 | +€156,000 | +10.5% |
| Distributable reserves | 133 | €1,481,860 | €1,637,860 | +€156,000 | +10.5% |
| Profit (loss) carried forward | 14 | €6,152 | €6,357 | +€205 | +3.3% |
| Amounts payable | 17/49 | €448,713 | €446,999 | -€1,714 | -0.4% |
| Amounts payable after more than one year | 17 | €4,920 | €4,066 | -€854 | -17.4% |
| Financial debts | 170/4 | €4,920 | €4,066 | -€854 | -17.4% |
| Amounts payable within one year | 42/48 | €443,793 | €442,933 | -€860 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €5,447 | €854 | -€4,593 | -84.3% |
| Trade debts | 44 | €304,001 | €333,732 | +€29,730 | +9.8% |
| Suppliers | 440/4 | €304,001 | €333,732 | +€29,730 | +9.8% |
| Taxes, remuneration and social security | 45 | €115,075 | €94,076 | -€20,999 | -18.2% |
| Taxes | 450/3 | €91,999 | €64,973 | -€27,026 | -29.4% |
| Remuneration and social security | 454/9 | €23,077 | €29,103 | +€6,027 | +26.1% |
| Other amounts payable | 47/48 | €19,268 | €14,270 | -€4,998 | -25.9% |
| Remuneration, social security and pensions | 62 | €162,466 | €223,888 | +€61,422 | +37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,352 | €20,100 | +€1,749 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,231 | €2,167 | +€3,398 | |
| Other operating charges | 640/8 | €286,945 | €289,096 | +€2,151 | +0.7% |
| Gross operating margin | 9900 | €922,080 | €910,267 | -€11,813 | -1.3% |
| Operating profit (loss) | 9901 | €455,548 | €375,015 | -€80,533 | -17.7% |
| Financial income | 75/76B | €134 | €10 | -€124 | -92.5% |
| Recurring financial income | 75 | €134 | €10 | -€124 | -92.5% |
| Financial charges | 65/66B | €16,176 | €143,400 | +€127,224 | +786% |
| Recurring financial charges | 65 | €816 | €630 | -€186 | -22.8% |
| Non-recurring financial charges | 66B | €15,360 | €142,770 | +€127,410 | +829% |
| Profit (loss) for the period before taxes | 9903 | €439,505 | €231,625 | -€207,880 | -47.3% |
| Income taxes | 67/77 | €142,858 | €75,420 | -€67,438 | -47.2% |
| Profit (loss) for the period | 9904 | €296,647 | €156,205 | -€140,442 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €296,647 | €156,205 | -€140,442 | -47.3% |
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 19 October 2026 via checked.be.