AGRABEL: 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.
AGRABEL
Largest movements
- Cash -€161,121
down €161,121 (-20.7%), from €778,001 to €616,880
mainly Investment in fixed assets (net) (-€278,000) and Trade debts (-€78,800)
- Tangible fixed assets +€146,596
up €146,596 (+15.9%), from €921,105 to €1.1m
of which Furniture and vehicles: +€135,804
- Receivables within one year +€39,666
up €39,666 (+49.2%), from €80,571 to €120,237
of which Other amounts receivable: +€21,180
- Reserves +€83,106
up €83,106 (+7.9%), from €1.1m to €1.1m
- Trade debts -€78,800
no longer reported in 2025 (was €78,800)
- Other debts +€18,051
up €18,051 (+4.8%), from €374,702 to €392,753
- Gross operating margin +€33,397
up €33,397 (+13.5%), from €246,727 to €280,124
- Depreciation +€27,102
up €27,102 (+26.0%), from €104,302 to €131,404
- Financial income +€3,343
up €3,343 (+77.6%), from €4,310 to €7,653
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 | €1,779,676 | €1,804,818 | +€25,142 | +1.4% |
| Fixed assets | 21/28 | €921,105 | €1,067,701 | +€146,596 | +15.9% |
| Tangible fixed assets | 22/27 | €921,105 | €1,067,701 | +€146,596 | +15.9% |
| Land and buildings | 22 | €653,103 | €632,306 | -€20,797 | -3.2% |
| Plant, machinery and equipment | 23 | €94,209 | €125,798 | +€31,589 | +33.5% |
| Furniture and vehicles | 24 | €173,793 | €309,597 | +€135,804 | +78.1% |
| Current assets | 29/58 | €858,572 | €737,117 | -€121,455 | -14.1% |
| Amounts receivable within one year | 40/41 | €80,571 | €120,237 | +€39,666 | +49.2% |
| Trade receivables | 40 | €61,424 | €79,910 | +€18,487 | +30.1% |
| Other amounts receivable | 41 | €19,147 | €40,327 | +€21,180 | +110.6% |
| Cash at bank and in hand | 54/58 | €778,001 | €616,880 | -€161,121 | -20.7% |
| Total equity and liabilities | 10/49 | €1,779,676 | €1,804,818 | +€25,142 | +1.4% |
| Equity | 10/15 | €1,302,163 | €1,385,268 | +€83,106 | +6.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,052,163 | €1,135,268 | +€83,106 | +7.9% |
| Distributable reserves | 133 | €1,052,163 | €1,135,268 | +€83,106 | +7.9% |
| Amounts payable | 17/49 | €477,514 | €419,550 | -€57,964 | -12.1% |
| Amounts payable within one year | 42/48 | €477,514 | €419,550 | -€57,964 | -12.1% |
| Trade debts | 44 | €78,800 | - | -€78,800 | |
| Suppliers | 440/4 | €78,800 | - | -€78,800 | |
| Taxes, remuneration and social security | 45 | €24,012 | €26,797 | +€2,785 | +11.6% |
| Taxes | 450/3 | €24,012 | €26,797 | +€2,785 | +11.6% |
| Other amounts payable | 47/48 | €374,702 | €392,753 | +€18,051 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,302 | €131,404 | +€27,102 | +26.0% |
| Other operating charges | 640/8 | €16,883 | €16,056 | -€827 | -4.9% |
| Gross operating margin | 9900 | €246,727 | €280,124 | +€33,397 | +13.5% |
| Operating profit (loss) | 9901 | €125,542 | €132,665 | +€7,123 | +5.7% |
| Financial income | 75/76B | €4,310 | €7,653 | +€3,343 | +77.6% |
| Recurring financial income | 75 | €4,310 | €7,653 | +€3,343 | +77.6% |
| Financial charges | 65/66B | €28,683 | €26,096 | -€2,587 | -9.0% |
| Recurring financial charges | 65 | €28,683 | €26,096 | -€2,587 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €101,169 | €114,222 | +€13,052 | +12.9% |
| Income taxes | 67/77 | €31,061 | €31,116 | +€55 | +0.2% |
| Profit (loss) for the period | 9904 | €70,109 | €83,106 | +€12,997 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,109 | €83,106 | +€12,997 | +18.5% |
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 30 September 2026 via checked.be.