THE 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.
THE AGENCY
Largest movements
- Receivables within one year +€360,081
up €360,081 (+15.8%), from €2.3m to €2.6m
of which Trade receivables: +€401,517
- Tangible fixed assets -€184,723
down €184,723 (-28.0%), from €659,583 to €474,859
of which Furniture and vehicles: -€141,732
- Short-term financial debts +€354,518
up €354,518 (+709%), from €50,000 to €404,518
of which Other loans: +€350,000
- Trade debts +€232,941
up €232,941 (+10.9%), from €2.1m to €2.4m
- Reserves -€199,330
down €199,330 (-43.1%), from €462,716 to €263,386
- Debts after one year -€178,213
down €178,213 (-43.6%), from €408,800 to €230,587
of which Financial debts: -€89,868
- Tax, wage and social debts -€37,792
down €37,792 (-33.8%), from €111,686 to €73,894
of which Taxes: -€46,463
- Gross operating margin -€427,616
down €427,616 (-60.8%), from €703,326 to €275,710
- Staff costs +€61,100
up €61,100 (+27.8%), from €219,552 to €280,652
- Taxes -€50,244
no longer reported in 2024 (was €50,244)
- Write-downs -€45,709
down €45,709, from €45,567 to -€143
- Financial charges +€24,322
up €24,322 (+197%), from €12,357 to €36,679
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,367,067 | €3,552,824 | +€185,757 | +5.5% |
| Fixed assets | 21/28 | €663,676 | €494,721 | -€168,955 | -25.5% |
| Intangible fixed assets | 21 | €49 | €15,817 | +€15,768 | +32,219% |
| Tangible fixed assets | 22/27 | €659,583 | €474,859 | -€184,723 | -28.0% |
| Furniture and vehicles | 24 | €538,900 | €397,168 | -€141,732 | -26.3% |
| Leasing and similar rights | 25 | €114,951 | €72,981 | -€41,970 | -36.5% |
| Other tangible fixed assets | 26 | €5,731 | €4,710 | -€1,021 | -17.8% |
| Financial fixed assets | 28 | €4,045 | €4,045 | = | 0.0% |
| Current assets | 29/58 | €2,703,391 | €3,058,103 | +€354,712 | +13.1% |
| Amounts receivable within one year | 40/41 | €2,285,217 | €2,645,298 | +€360,081 | +15.8% |
| Trade receivables | 40 | €2,124,766 | €2,526,284 | +€401,517 | +18.9% |
| Other amounts receivable | 41 | €160,450 | €119,015 | -€41,436 | -25.8% |
| Cash at bank and in hand | 54/58 | €355,906 | €343,158 | -€12,748 | -3.6% |
| Deferred charges and accrued income | 490/1 | €62,268 | €69,647 | +€7,379 | +11.9% |
| Total equity and liabilities | 10/49 | €3,367,067 | €3,552,824 | +€185,757 | +5.5% |
| Equity | 10/15 | €532,716 | €333,386 | -€199,330 | -37.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €462,716 | €263,386 | -€199,330 | -43.1% |
| Distributable reserves | 133 | €462,716 | €263,386 | -€199,330 | -43.1% |
| Amounts payable | 17/49 | €2,834,351 | €3,219,438 | +€385,087 | +13.6% |
| Amounts payable after more than one year | 17 | €408,800 | €230,587 | -€178,213 | -43.6% |
| Financial debts | 170/4 | €320,455 | €230,587 | -€89,868 | -28.0% |
| Other amounts payable | 178/9 | €88,345 | - | -€88,345 | |
| Amounts payable within one year | 42/48 | €2,424,350 | €2,987,793 | +€563,442 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €123,281 | €137,056 | +€13,775 | +11.2% |
| Financial debts | 43 | €50,000 | €404,518 | +€354,518 | +709% |
| Credit institutions | 430/8 | €50,000 | €54,518 | +€4,518 | +9.0% |
| Other loans | 439 | - | €350,000 | +€350,000 | |
| Trade debts | 44 | €2,139,384 | €2,372,325 | +€232,941 | +10.9% |
| Suppliers | 440/4 | €2,139,384 | €2,372,325 | +€232,941 | +10.9% |
| Taxes, remuneration and social security | 45 | €111,686 | €73,894 | -€37,792 | -33.8% |
| Taxes | 450/3 | €64,476 | €18,013 | -€46,463 | -72.1% |
| Remuneration and social security | 454/9 | €47,210 | €55,881 | +€8,671 | +18.4% |
| Accrued charges and deferred income | 492/3 | €1,201 | €1,058 | -€142 | -11.8% |
| Remuneration, social security and pensions | 62 | €219,552 | €280,652 | +€61,100 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,124 | €161,141 | +€20,017 | +14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €45,567 | -€143 | -€45,709 | |
| Other operating charges | 640/8 | €4,266 | €5,327 | +€1,061 | +24.9% |
| Non-recurring operating charges | 66A | €87,578 | - | -€87,578 | |
| Gross operating margin | 9900 | €703,326 | €275,710 | -€427,616 | -60.8% |
| Operating profit (loss) | 9901 | €205,239 | -€171,268 | -€376,507 | |
| Financial income | 75/76B | €6,610 | €8,617 | +€2,007 | +30.4% |
| Recurring financial income | 75 | €6,610 | €8,617 | +€2,007 | +30.4% |
| Financial charges | 65/66B | €12,357 | €36,679 | +€24,322 | +197% |
| Recurring financial charges | 65 | €12,357 | €36,679 | +€24,322 | +197% |
| Profit (loss) for the period before taxes | 9903 | €199,492 | -€199,330 | -€398,822 | |
| Income taxes | 67/77 | €50,244 | - | -€50,244 | |
| Profit (loss) for the period | 9904 | €149,248 | -€199,330 | -€348,578 | |
| Profit (loss) for the period to be appropriated | 9905 | €149,248 | -€199,330 | -€348,578 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.