ADVAGREEN: 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.
What changed
ADVAGREEN
NACE 46.852, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.5m-€60,980
Equity
€11.4m
2024 · €10.0m+€1.4m
Cash
€6.4m
2024 · €7.1m-€759,149
Balance sheet total
€13.4m
2024 · €11.2m+€2.1m
Largest movements
Assets
- Receivables within one year +€2.9m
up €2.9m (+179.9%), from €1.6m to €4.6m
of which Other amounts receivable: +€2.2m
- Cash -€759,149
down €759,149 (-10.6%), from €7.1m to €6.4m
mainly Receivables within one year (-€2.9m) and Investment in fixed assets (net) (-€300,981)
Equity and liabilities
- Profit (loss) carried forward +€1.4m
up €1.4m (+14.3%), from €9.8m to €11.2m
- Trade debts +€771,409
up €771,409 (+83.7%), from €921,815 to €1.7m
- Advances received -€220,887
down €220,887 (-100.0%), from €220,907 to €20
Income statement
- Gross operating margin +€119,897
up €119,897 (+5.1%), from €2.4m to €2.5m
- Staff costs +€76,613
up €76,613 (+24.1%), from €317,828 to €394,441
- Write-downs +€40,995
up €40,995, from -€40,995 to €0
- Depreciation +€31,104
up €31,104 (+12.6%), from €247,128 to €278,232
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.
Result 2024
€1.5m
Gross operating margin
+€119,897
Staff costs
-€76,613
Depreciation
-€31,104
Write-downs
-€40,995
Other operating charges
-€17,963
Other operating items
-€8,154
Financial income
-€19,499
Financial charges
-€247
Taxes
+€13,698
Result 2025
€1.4m
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.
From operations
-€607,318
Investment
-€300,981
Financing
+€149,150
Cash 2024
€7.1m
From operations (derived)
-€607,318
Net result for the year
+€1.4m
Depreciation
+€278,232
Receivables after one year
+€22,500
Stocks and contracts
+€47,470
Receivables within one year
-€2.9m
Smaller working-capital items
+€7,965
Trade debts
+€771,409
Advances received
-€220,887
Other debts
+€19,373
Accrued charges and deferred income
-€9,300
Investment (derived)
-€300,981
Investment in fixed assets (net)
-€300,981
Financing
+€149,150
Debts after one year
+€124,056
Current portion of long-term debt
+€44,395
Contributions, distributions and other
-€19,301
Cash 2025
€6.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,236,093 | €13,365,811 | +€2.1m | +19.0% |
| Fixed assets | 21/28 | €1,404,608 | €1,427,357 | +€22,749 | +1.6% |
| Intangible fixed assets | 21 | €119,810 | €10,605 | -€109,206 | -91.1% |
| Tangible fixed assets | 22/27 | €1,168,935 | €1,300,890 | +€131,955 | +11.3% |
| Land and buildings | 22 | - | €24,233 | +€24,233 | |
| Plant, machinery and equipment | 23 | €141,513 | €93,332 | -€48,181 | -34.0% |
| Furniture and vehicles | 24 | €440,316 | €566,098 | +€125,782 | +28.6% |
| Other tangible fixed assets | 26 | €587,106 | €617,226 | +€30,120 | +5.1% |
| Financial fixed assets | 28 | €115,863 | €115,863 | = | 0.0% |
| Current assets | 29/58 | €9,831,485 | €11,938,453 | +€2.1m | +21.4% |
| Amounts receivable after more than one year | 29 | €22,500 | €0 | -€22,500 | -100.0% |
| Other amounts receivable | 291 | €22,500 | €0 | -€22,500 | -100.0% |
| Stocks and contracts in progress | 3 | €933,513 | €886,043 | -€47,470 | -5.1% |
| Stocks | 30/36 | €933,513 | €886,043 | -€47,470 | -5.1% |
| Amounts receivable within one year | 40/41 | €1,633,338 | €4,571,236 | +€2.9m | +179.9% |
| Trade receivables | 40 | €639,942 | €1,368,929 | +€728,987 | +113.9% |
| Other amounts receivable | 41 | €993,396 | €3,202,307 | +€2.2m | +222.4% |
| Cash at bank and in hand | 54/58 | €7,149,756 | €6,390,606 | -€759,149 | -10.6% |
| Deferred charges and accrued income | 490/1 | €92,377 | €90,568 | -€1,810 | -2.0% |
| Total equity and liabilities | 10/49 | €11,236,093 | €13,365,811 | +€2.1m | +19.0% |
| Equity | 10/15 | €10,033,917 | €11,428,434 | +€1.4m | +13.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €20,859 | €20,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,859 | €20,859 | = | 0.0% |
| Legal reserve | 130 | €20,859 | €20,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,763,058 | €11,157,574 | +€1.4m | +14.3% |
| Amounts payable | 17/49 | €1,202,175 | €1,937,377 | +€735,202 | +61.2% |
| Amounts payable after more than one year | 17 | - | €124,056 | +€124,056 | |
| Financial debts | 170/4 | - | €124,056 | +€124,056 | |
| Amounts payable within one year | 42/48 | €1,190,271 | €1,810,717 | +€620,446 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | - | €44,395 | +€44,395 | |
| Trade debts | 44 | €921,815 | €1,693,224 | +€771,409 | +83.7% |
| Suppliers | 440/4 | €921,815 | €1,693,224 | +€771,409 | +83.7% |
| Advances received on contracts in progress | 46 | €220,907 | €20 | -€220,887 | -100.0% |
| Taxes, remuneration and social security | 45 | €47,549 | €53,704 | +€6,156 | +12.9% |
| Taxes | 450/3 | €4,679 | €0 | -€4,679 | -100.0% |
| Remuneration and social security | 454/9 | €42,870 | €53,704 | +€10,835 | +25.3% |
| Other amounts payable | 47/48 | - | €19,373 | +€19,373 | |
| Accrued charges and deferred income | 492/3 | €11,905 | €2,605 | -€9,300 | -78.1% |
| Non-recurring operating income | 76A | €15,077 | €865 | -€14,212 | -94.3% |
| Remuneration, social security and pensions | 62 | €317,828 | €394,441 | +€76,613 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,128 | €278,232 | +€31,104 | +12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€40,995 | €0 | +€40,995 | |
| Other operating charges | 640/8 | €11,166 | €29,129 | +€17,963 | +160.9% |
| Non-recurring operating charges | 66A | €0 | €8,154 | +€8,154 | |
| Gross operating margin | 9900 | €2,373,392 | €2,493,289 | +€119,897 | +5.1% |
| Operating profit (loss) | 9901 | €1,838,265 | €1,783,334 | -€54,932 | -3.0% |
| Financial income | 75/76B | €174,050 | €154,552 | -€19,499 | -11.2% |
| Recurring financial income | 75 | €174,050 | €154,552 | -€19,499 | -11.2% |
| Financial charges | 65/66B | €5,213 | €5,460 | +€247 | +4.7% |
| Recurring financial charges | 65 | €5,213 | €5,460 | +€247 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €2,007,103 | €1,932,425 | -€74,678 | -3.7% |
| Income taxes | 67/77 | €532,306 | €518,608 | -€13,698 | -2.6% |
| Profit (loss) for the period | 9904 | €1,474,797 | €1,413,817 | -€60,980 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,474,797 | €1,413,817 | -€60,980 | -4.1% |
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 4 October 2026 via checked.be.