AGRA: 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.
AGRA
Largest movements
- Tangible fixed assets +€307,889
up €307,889 (+50.6%), from €608,447 to €916,336
of which Land and buildings: +€404,724
- Cash -€98,110
down €98,110 (-52.1%), from €188,315 to €90,205
mainly Investment in fixed assets (net) (-€445,968) and Receivables within one year (-€79,524)
- Receivables within one year +€79,524
up €79,524 (+45.9%), from €173,324 to €252,848
of which Trade receivables: +€100,389
- Debts after one year +€143,467
up €143,467 (+76.9%), from €186,471 to €329,939
- Trade debts +€141,638
up €141,638 (+109.7%), from €129,157 to €270,796
- Gross operating margin -€48,001
down €48,001 (-7.0%), from €689,078 to €641,077
- Staff costs +€26,707
up €26,707 (+5.9%), from €450,963 to €477,669
- Taxes -€23,567
down €23,567 (-89.8%), from €26,241 to €2,674
- Depreciation +€20,476
up €20,476 (+18.5%), from €110,415 to €130,891
- Write-downs -€8,396
down €8,396, from €4,088 to -€4,308
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 | €1,293,562 | €1,607,669 | +€314,107 | +24.3% |
| Fixed assets | 21/28 | €613,431 | €928,508 | +€315,077 | +51.4% |
| Intangible fixed assets | 21 | €4,984 | €12,173 | +€7,188 | +144.2% |
| Tangible fixed assets | 22/27 | €608,447 | €916,336 | +€307,889 | +50.6% |
| Land and buildings | 22 | €49,542 | €454,266 | +€404,724 | +816.9% |
| Plant, machinery and equipment | 23 | €131,474 | €131,536 | +€62 | 0.0% |
| Furniture and vehicles | 24 | €54,516 | €33,301 | -€21,215 | -38.9% |
| Leasing and similar rights | 25 | €372,914 | €297,232 | -€75,681 | -20.3% |
| Current assets | 29/58 | €680,132 | €679,161 | -€970 | -0.1% |
| Stocks and contracts in progress | 3 | €311,590 | €327,375 | +€15,785 | +5.1% |
| Stocks | 30/36 | €311,590 | €327,375 | +€15,785 | +5.1% |
| Amounts receivable within one year | 40/41 | €173,324 | €252,848 | +€79,524 | +45.9% |
| Trade receivables | 40 | €109,164 | €209,552 | +€100,389 | +92.0% |
| Other amounts receivable | 41 | €64,161 | €43,296 | -€20,864 | -32.5% |
| Cash at bank and in hand | 54/58 | €188,315 | €90,205 | -€98,110 | -52.1% |
| Deferred charges and accrued income | 490/1 | €6,903 | €8,733 | +€1,830 | +26.5% |
| Total equity and liabilities | 10/49 | €1,293,562 | €1,607,669 | +€314,107 | +24.3% |
| Equity | 10/15 | €827,501 | €830,417 | +€2,916 | +0.4% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €177,501 | €180,417 | +€2,916 | +1.6% |
| Non-distributable reserves | 130/1 | €37,275 | €37,434 | +€160 | +0.4% |
| Legal reserve | 130 | €37,275 | €37,434 | +€160 | +0.4% |
| Distributable reserves | 133 | €140,226 | €142,983 | +€2,757 | +2.0% |
| Amounts payable | 17/49 | €466,062 | €777,252 | +€311,191 | +66.8% |
| Amounts payable after more than one year | 17 | €186,471 | €329,939 | +€143,467 | +76.9% |
| Financial debts | 170/4 | €186,471 | €329,939 | +€143,467 | +76.9% |
| Amounts payable within one year | 42/48 | €279,590 | €447,314 | +€167,723 | +60.0% |
| Current portion of amounts payable after more than one year | 42 | €111,823 | €121,710 | +€9,887 | +8.8% |
| Trade debts | 44 | €129,157 | €270,796 | +€141,638 | +109.7% |
| Suppliers | 440/4 | €129,157 | €270,796 | +€141,638 | +109.7% |
| Taxes, remuneration and social security | 45 | €38,582 | €48,780 | +€10,198 | +26.4% |
| Taxes | 450/3 | €11,214 | €14,496 | +€3,282 | +29.3% |
| Remuneration and social security | 454/9 | €27,368 | €34,284 | +€6,916 | +25.3% |
| Other amounts payable | 47/48 | €28 | €6,028 | +€6,000 | +21428.6% |
| Non-recurring operating income | 76A | €25,605 | €0 | -€25,605 | -100.0% |
| Remuneration, social security and pensions | 62 | €450,963 | €477,669 | +€26,707 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,415 | €130,891 | +€20,476 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,088 | -€4,308 | -€8,396 | |
| Other operating charges | 640/8 | €6,352 | €7,386 | +€1,034 | +16.3% |
| Gross operating margin | 9900 | €689,078 | €641,077 | -€48,001 | -7.0% |
| Operating profit (loss) | 9901 | €117,260 | €29,439 | -€87,821 | -74.9% |
| Financial income | 75/76B | €10 | €461 | +€451 | +4419.4% |
| Recurring financial income | 75 | €10 | €461 | +€451 | +4419.4% |
| Financial charges | 65/66B | €21,686 | €24,310 | +€2,624 | +12.1% |
| Recurring financial charges | 65 | €21,686 | €24,310 | +€2,624 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €95,584 | €5,590 | -€89,994 | -94.2% |
| Income taxes | 67/77 | €26,241 | €2,674 | -€23,567 | -89.8% |
| Profit (loss) for the period | 9904 | €69,344 | €2,916 | -€66,427 | -95.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,344 | €2,916 | -€66,427 | -95.8% |
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.