AGREDI: 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.
AGREDI
Largest movements
- Cash +€424,269
up €424,269 (+1035.1%), from €40,988 to €465,257
mainly Contributions, distributions and other (+€1.5m) and Depreciation (+€183,656)
- Tangible fixed assets +€348,213
up €348,213 (+15.4%), from €2.3m to €2.6m
of which Land and buildings: +€402,876
- Receivables within one year +€129,319
up €129,319 (+382.8%), from €33,780 to €163,099
of which Trade receivables: +€130,181
- Contributions +€1.2m
up €1.2m (+74.9%), from €1.6m to €2.8m
- Debts after one year -€571,604
down €571,604 (-42.1%), from €1.4m to €786,230
of which Financial debts: -€350,000
- Investment grants +€252,834
up €252,834 (+381.5%), from €66,275 to €319,110
- Trade debts +€105,405
up €105,405 (+207.8%), from €50,724 to €156,129
- Accrued charges and deferred income -€43,594
down €43,594 (-100.0%), from €43,594 to €0
- Gross operating margin +€182,590
up €182,590, from -€3,817 to €178,773
- Financial income +€48,526
up €48,526 (+1012.6%), from €4,792 to €53,318
- Staff costs +€28,795
up €28,795 (+573.6%), from €5,020 to €33,816
- Depreciation +€12,025
up €12,025 (+7.0%), from €171,631 to €183,656
- Taxes +€2,377
up €2,377 (+168.6%), from €1,410 to €3,787
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 | €2,380,652 | €3,329,130 | +€948,478 | +39.8% |
| Fixed assets | 21/28 | €2,259,801 | €2,607,546 | +€347,745 | +15.4% |
| Intangible fixed assets | 21 | €468 | €0 | -€468 | -100.0% |
| Tangible fixed assets | 22/27 | €2,255,040 | €2,603,252 | +€348,213 | +15.4% |
| Land and buildings | 22 | €1,675,845 | €2,078,720 | +€402,876 | +24.0% |
| Plant, machinery and equipment | 23 | €200,317 | €200,887 | +€570 | +0.3% |
| Furniture and vehicles | 24 | €378,878 | €323,645 | -€55,233 | -14.6% |
| Financial fixed assets | 28 | €4,294 | €4,294 | = | 0.0% |
| Current assets | 29/58 | €120,851 | €721,584 | +€600,733 | +497.1% |
| Stocks and contracts in progress | 3 | €30,646 | €53,250 | +€22,604 | +73.8% |
| Stocks | 30/36 | €30,646 | €53,250 | +€22,604 | +73.8% |
| Amounts receivable within one year | 40/41 | €33,780 | €163,099 | +€129,319 | +382.8% |
| Trade receivables | 40 | €32,918 | €163,099 | +€130,181 | +395.5% |
| Other amounts receivable | 41 | €862 | €0 | -€862 | -100.0% |
| Cash at bank and in hand | 54/58 | €40,988 | €465,257 | +€424,269 | +1035.1% |
| Deferred charges and accrued income | 490/1 | €15,438 | €39,978 | +€24,540 | +159.0% |
| Total equity and liabilities | 10/49 | €2,380,652 | €3,329,130 | +€948,478 | +39.8% |
| Equity | 10/15 | €194,657 | €1,621,893 | +€1.4m | +733.2% |
| Contributions | 10/11 | €1,603,000 | €2,803,000 | +€1.2m | +74.9% |
| Profit (loss) carried forward | 14 | -€1,474,618 | -€1,500,217 | -€25,599 | -1.7% |
| Investment grants | 15 | €66,275 | €319,110 | +€252,834 | +381.5% |
| Provisions and deferred taxes | 16 | €3,488 | €16,795 | +€13,307 | +381.5% |
| Deferred taxes | 168 | €3,488 | €16,795 | +€13,307 | +381.5% |
| Amounts payable | 17/49 | €2,182,507 | €1,690,442 | -€492,065 | -22.5% |
| Amounts payable after more than one year | 17 | €1,357,834 | €786,230 | -€571,604 | -42.1% |
| Financial debts | 170/4 | €362,500 | €12,500 | -€350,000 | -96.6% |
| Other amounts payable | 178/9 | €995,334 | €773,730 | -€221,604 | -22.3% |
| Amounts payable within one year | 42/48 | €781,079 | €904,212 | +€123,133 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €50,724 | €156,129 | +€105,405 | +207.8% |
| Suppliers | 440/4 | €50,724 | €156,129 | +€105,405 | +207.8% |
| Taxes, remuneration and social security | 45 | €6,975 | €6,285 | -€689 | -9.9% |
| Taxes | 450/3 | €6,975 | €6,285 | -€689 | -9.9% |
| Remuneration and social security | 454/9 | €0 | €0 | +€0 | |
| Other amounts payable | 47/48 | €648,380 | €666,798 | +€18,418 | +2.8% |
| Accrued charges and deferred income | 492/3 | €43,594 | €0 | -€43,594 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,020 | €33,816 | +€28,795 | +573.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,631 | €183,656 | +€12,025 | +7.0% |
| Other operating charges | 640/8 | €4,896 | €6,921 | +€2,025 | +41.4% |
| Gross operating margin | 9900 | -€3,817 | €178,773 | +€182,590 | |
| Operating profit (loss) | 9901 | -€185,364 | -€45,620 | +€139,744 | +75.4% |
| Financial income | 75/76B | €4,792 | €53,318 | +€48,526 | +1012.6% |
| Recurring financial income | 75 | €4,792 | €53,318 | +€48,526 | +1012.6% |
| Financial charges | 65/66B | €32,094 | €32,174 | +€80 | +0.2% |
| Recurring financial charges | 65 | €32,094 | €32,174 | +€80 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€212,666 | -€24,476 | +€188,190 | +88.5% |
| Transfer from deferred taxes | 780 | €245 | €2,664 | +€2,420 | +988.8% |
| Income taxes | 67/77 | €1,410 | €3,787 | +€2,377 | +168.6% |
| Profit (loss) for the period | 9904 | -€213,831 | -€25,599 | +€188,232 | +88.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€213,831 | -€25,599 | +€188,232 | +88.0% |
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 9 October 2026 via checked.be.