AGRECO: 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.
AGRECO
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+261%), from €815,912 to €2.9m
of which Land and buildings: +€2.1m
- Cash -€56,714
down €56,714 (-55.8%), from €101,614 to €44,901
mainly Investment in fixed assets (net) (-€2.1m) and Short-term financial debts (-€123,947)
- Receivables within one year -€47,507
down €47,507 (-61.9%), from €76,770 to €29,263
of which Other amounts receivable: -€34,488
- Revaluation surpluses +€2.1m
new in 2025: €2.1m
- Short-term financial debts -€123,947
no longer reported in 2025 (was €123,947)
- Reserves +€46,428
up €46,428 (+194%), from €23,918 to €70,347
of which Distributable reserves: +€43,887
- Gross operating margin +€38,664
up €38,664 (+81.2%), from €47,598 to €86,263
- Taxes +€15,509
up €15,509 (+398%), from €3,898 to €19,406
- Financial income +€10,472
up €10,472 (+5,496%), from €191 to €10,663
of which Financial income: +€9,324
- Financial charges -€4,170
down €4,170 (-20.1%), from €20,725 to €16,555
of which Non-recurring financial charges: -€2,769
- Depreciation +€2,396
up €2,396 (+29.1%), from €8,225 to €10,621
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 | €1,221,247 | €3,259,482 | +€2.0m | +167% |
| Fixed assets | 21/28 | €819,617 | €2,951,800 | +€2.1m | +260% |
| Tangible fixed assets | 22/27 | €815,912 | €2,948,094 | +€2.1m | +261% |
| Land and buildings | 22 | €814,379 | €2,943,983 | +€2.1m | +262% |
| Plant, machinery and equipment | 23 | €972 | €264 | -€708 | -72.8% |
| Furniture and vehicles | 24 | €560 | €3,847 | +€3,287 | +587% |
| Financial fixed assets | 28 | €3,706 | €3,706 | = | 0.0% |
| Current assets | 29/58 | €401,630 | €307,682 | -€93,947 | -23.4% |
| Amounts receivable within one year | 40/41 | €76,770 | €29,263 | -€47,507 | -61.9% |
| Trade receivables | 40 | €13,019 | - | -€13,019 | |
| Other amounts receivable | 41 | €63,751 | €29,263 | -€34,488 | -54.1% |
| Current investments | 50/53 | €223,245 | €233,519 | +€10,273 | +4.6% |
| Cash at bank and in hand | 54/58 | €101,614 | €44,901 | -€56,714 | -55.8% |
| Total equity and liabilities | 10/49 | €1,221,247 | €3,259,482 | +€2.0m | +167% |
| Equity | 10/15 | €706,665 | €2,876,003 | +€2.2m | +307% |
| Contributions | 10/11 | €488,736 | €488,736 | = | 0.0% |
| Capital | 10 | €488,736 | €488,736 | = | 0.0% |
| Issued capital | 100 | €488,736 | €488,736 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,122,910 | +€2.1m | |
| Reserves | 13 | €23,918 | €70,347 | +€46,428 | +194% |
| Non-distributable reserves | 130/1 | €23,918 | €26,459 | +€2,541 | +10.6% |
| Legal reserve | 130 | €23,918 | €26,459 | +€2,541 | +10.6% |
| Distributable reserves | 133 | - | €43,887 | +€43,887 | |
| Profit (loss) carried forward | 14 | €194,010 | €194,010 | = | 0.0% |
| Amounts payable | 17/49 | €514,583 | €383,480 | -€131,103 | -25.5% |
| Amounts payable after more than one year | 17 | €67,083 | €44,083 | -€23,000 | -34.3% |
| Financial debts | 170/4 | €67,083 | €44,083 | -€23,000 | -34.3% |
| Amounts payable within one year | 42/48 | €435,481 | €336,578 | -€98,903 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €215,669 | €230,083 | +€14,415 | +6.7% |
| Financial debts | 43 | €123,947 | - | -€123,947 | |
| Credit institutions | 430/8 | €123,947 | - | -€123,947 | |
| Trade debts | 44 | €48,430 | €40,115 | -€8,315 | -17.2% |
| Suppliers | 440/4 | €48,430 | €40,115 | -€8,315 | -17.2% |
| Taxes, remuneration and social security | 45 | - | €19,049 | +€19,049 | |
| Taxes | 450/3 | - | €19,049 | +€19,049 | |
| Other amounts payable | 47/48 | €47,436 | €47,331 | -€105 | -0.2% |
| Accrued charges and deferred income | 492/3 | €12,019 | €2,818 | -€9,200 | -76.6% |
| Non-recurring operating income | 76A | €10,804 | €48,775 | +€37,971 | +351% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,225 | €10,621 | +€2,396 | +29.1% |
| Other operating charges | 640/8 | €6,017 | €3,915 | -€2,102 | -34.9% |
| Non-recurring operating charges | 66A | €40 | - | -€40 | |
| Gross operating margin | 9900 | €47,598 | €86,263 | +€38,664 | +81.2% |
| Operating profit (loss) | 9901 | €33,316 | €71,727 | +€38,411 | +115% |
| Financial income | 75/76B | €191 | €10,663 | +€10,472 | +5,496% |
| Recurring financial income | 75 | €191 | €9,515 | +€9,324 | +4,893% |
| Non-recurring financial income | 76B | - | €1,148 | +€1,148 | |
| Financial charges | 65/66B | €20,725 | €16,555 | -€4,170 | -20.1% |
| Recurring financial charges | 65 | €17,957 | €16,555 | -€1,401 | -7.8% |
| Non-recurring financial charges | 66B | €2,769 | - | -€2,769 | |
| Profit (loss) for the period before taxes | 9903 | €12,781 | €65,834 | +€53,053 | +415% |
| Income taxes | 67/77 | €3,898 | €19,406 | +€15,509 | +398% |
| Profit (loss) for the period | 9904 | €8,884 | €46,428 | +€37,545 | +423% |
| Profit (loss) for the period to be appropriated | 9905 | €8,884 | €46,428 | +€37,545 | +423% |
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 19 October 2026 via checked.be.