N-Agency: 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.
N-Agency
Largest movements
- Receivables within one year +€83,681
up €83,681 (+98.9%), from €84,634 to €168,315
of which Trade receivables: +€62,410
- Cash -€22,017
no longer reported in 2025 (was €22,017)
mainly Receivables within one year (-€83,681) and Tax, wage and social debts (-€5,083)
- Tangible fixed assets -€9,564
down €9,564 (-28.7%), from €33,316 to €23,752
- Short-term financial debts +€27,547
new in 2025: €27,547
- Trade debts +€16,556
up €16,556 (+173%), from €9,562 to €26,118
- Reserves +€14,796
up €14,796 (+14.3%), from €103,497 to €118,293
- Tax, wage and social debts -€5,083
down €5,083 (-26.8%), from €18,993 to €13,909
- Gross operating margin +€21,463
up €21,463 (+218%), from €9,840 to €31,303
- Taxes +€5,259
up €5,259 (+135%), from €3,886 to €9,145
- Financial charges +€528
up €528 (+56.1%), from €941 to €1,468
- Financial income +€469
up €469 (+11.7%), from €4,016 to €4,485
- Other operating charges -€404
down €404 (-33.1%), from €1,218 to €814
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 | €139,968 | €192,067 | +€52,100 | +37.2% |
| Fixed assets | 21/28 | €33,316 | €23,752 | -€9,564 | -28.7% |
| Tangible fixed assets | 22/27 | €33,316 | €23,752 | -€9,564 | -28.7% |
| Furniture and vehicles | 24 | €33,316 | €23,752 | -€9,564 | -28.7% |
| Current assets | 29/58 | €106,652 | €168,315 | +€61,664 | +57.8% |
| Amounts receivable within one year | 40/41 | €84,634 | €168,315 | +€83,681 | +98.9% |
| Trade receivables | 40 | €11,463 | €73,873 | +€62,410 | +544% |
| Other amounts receivable | 41 | €73,171 | €94,442 | +€21,271 | +29.1% |
| Cash at bank and in hand | 54/58 | €22,017 | - | -€22,017 | |
| Total equity and liabilities | 10/49 | €139,968 | €192,067 | +€52,100 | +37.2% |
| Equity | 10/15 | €109,697 | €124,493 | +€14,796 | +13.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,497 | €118,293 | +€14,796 | +14.3% |
| Distributable reserves | 133 | €103,497 | €118,293 | +€14,796 | +14.3% |
| Amounts payable | 17/49 | €30,271 | €67,574 | +€37,304 | +123% |
| Amounts payable within one year | 42/48 | €30,271 | €67,574 | +€37,304 | +123% |
| Current portion of amounts payable after more than one year | 42 | €1,716 | - | -€1,716 | |
| Financial debts | 43 | - | €27,547 | +€27,547 | |
| Credit institutions | 430/8 | - | €27,547 | +€27,547 | |
| Trade debts | 44 | €9,562 | €26,118 | +€16,556 | +173% |
| Suppliers | 440/4 | €9,562 | €26,118 | +€16,556 | +173% |
| Taxes, remuneration and social security | 45 | €18,993 | €13,909 | -€5,083 | -26.8% |
| Taxes | 450/3 | €18,993 | €13,909 | -€5,083 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,564 | €9,564 | = | 0.0% |
| Other operating charges | 640/8 | €1,218 | €814 | -€404 | -33.1% |
| Gross operating margin | 9900 | €9,840 | €31,303 | +€21,463 | +218% |
| Operating profit (loss) | 9901 | -€942 | €20,925 | +€21,867 | |
| Financial income | 75/76B | €4,016 | €4,485 | +€469 | +11.7% |
| Recurring financial income | 75 | €4,016 | €4,485 | +€469 | +11.7% |
| Financial charges | 65/66B | €941 | €1,468 | +€528 | +56.1% |
| Recurring financial charges | 65 | €941 | €1,468 | +€528 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €2,134 | €23,941 | +€21,808 | +1,022% |
| Income taxes | 67/77 | €3,886 | €9,145 | +€5,259 | +135% |
| Profit (loss) for the period | 9904 | -€1,753 | €14,796 | +€16,549 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,753 | €14,796 | +€16,549 |
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 24 October 2026 via checked.be.