AGREFLOR: 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.
AGREFLOR
Largest movements
- Receivables within one year -€362,165
down €362,165 (-28.0%), from €1.3m to €929,629
of which Trade receivables: -€371,361
- Receivables after one year -€177,332
down €177,332 (-97.1%), from €182,573 to €5,241
- Stocks and contracts -€131,676
down €131,676 (-34.4%), from €383,247 to €251,571
- Tangible fixed assets -€119,809
down €119,809 (-12.9%), from €930,379 to €810,570
of which Furniture and vehicles: -€66,430
- Cash -€118,882
no longer reported in 2025 (was €118,882)
mainly Net result for the year (-€272,670) and Debts after one year (-€223,382)
- Debts after one year -€223,382
down €223,382 (-23.7%), from €942,244 to €718,862
- Tax, wage and social debts -€218,605
down €218,605 (-55.9%), from €390,962 to €172,357
of which Remuneration and social security: -€180,625
- Profit (loss) carried forward -€215,670
down €215,670, from €443 to -€215,227
- Trade debts -€192,655
down €192,655 (-18.9%), from €1.0m to €826,158
- Reserves -€57,000
no longer reported in 2025 (was €57,000)
- Gross operating margin -€266,265
down €266,265 (-15.9%), from €1.7m to €1.4m
- Turnover -€180,132
down €180,132 (-1.6%), from €11.1m to €11.0m
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 | €2,967,992 | €2,053,359 | -€914,633 | -30.8% |
| Fixed assets | 21/28 | €958,522 | €826,029 | -€132,492 | -13.8% |
| Intangible fixed assets | 21 | €25,298 | €12,614 | -€12,684 | -50.1% |
| Tangible fixed assets | 22/27 | €930,379 | €810,570 | -€119,809 | -12.9% |
| Land and buildings | 22 | €501,542 | €476,414 | -€25,128 | -5.0% |
| Plant, machinery and equipment | 23 | €20,875 | €34,942 | +€14,067 | +67.4% |
| Furniture and vehicles | 24 | €321,950 | €255,520 | -€66,430 | -20.6% |
| Leasing and similar rights | 25 | €79,630 | €35,391 | -€44,239 | -55.6% |
| Other tangible fixed assets | 26 | €6,382 | €8,304 | +€1,922 | +30.1% |
| Financial fixed assets | 28 | €2,845 | €2,845 | = | 0.0% |
| Current assets | 29/58 | €2,009,470 | €1,227,329 | -€782,141 | -38.9% |
| Amounts receivable after more than one year | 29 | €182,573 | €5,241 | -€177,332 | -97.1% |
| Other amounts receivable | 291 | €182,573 | €5,241 | -€177,332 | -97.1% |
| Stocks and contracts in progress | 3 | €383,247 | €251,571 | -€131,676 | -34.4% |
| Stocks | 30/36 | €383,247 | €251,571 | -€131,676 | -34.4% |
| Amounts receivable within one year | 40/41 | €1,291,795 | €929,629 | -€362,165 | -28.0% |
| Trade receivables | 40 | €1,205,257 | €833,896 | -€371,361 | -30.8% |
| Other amounts receivable | 41 | €86,538 | €95,733 | +€9,196 | +10.6% |
| Cash at bank and in hand | 54/58 | €118,882 | - | -€118,882 | |
| Deferred charges and accrued income | 490/1 | €32,973 | €40,888 | +€7,915 | +24.0% |
| Total equity and liabilities | 10/49 | €2,967,992 | €2,053,359 | -€914,633 | -30.8% |
| Equity | 10/15 | €57,443 | -€215,227 | -€272,670 | |
| Reserves | 13 | €57,000 | - | -€57,000 | |
| Distributable reserves | 133 | €57,000 | - | -€57,000 | |
| Profit (loss) carried forward | 14 | €443 | -€215,227 | -€215,670 | |
| Amounts payable | 17/49 | €2,910,549 | €2,268,585 | -€641,964 | -22.1% |
| Amounts payable after more than one year | 17 | €942,244 | €718,862 | -€223,382 | -23.7% |
| Financial debts | 170/4 | €942,244 | €718,862 | -€223,382 | -23.7% |
| Amounts payable within one year | 42/48 | €1,936,015 | €1,549,724 | -€386,291 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €101,454 | €146,703 | +€45,249 | +44.6% |
| Financial debts | 43 | €372,776 | €404,507 | +€31,731 | +8.5% |
| Credit institutions | 430/8 | €372,776 | €360,803 | -€11,972 | -3.2% |
| Other loans | 439 | - | €43,703 | +€43,703 | |
| Trade debts | 44 | €1,018,813 | €826,158 | -€192,655 | -18.9% |
| Suppliers | 440/4 | €1,018,813 | €826,158 | -€192,655 | -18.9% |
| Taxes, remuneration and social security | 45 | €390,962 | €172,357 | -€218,605 | -55.9% |
| Taxes | 450/3 | €163,406 | €125,425 | -€37,981 | -23.2% |
| Remuneration and social security | 454/9 | €227,556 | €46,932 | -€180,625 | -79.4% |
| Other amounts payable | 47/48 | €52,010 | - | -€52,010 | |
| Accrued charges and deferred income | 492/3 | €32,290 | - | -€32,290 | |
| Turnover | 70 | €11,147,549 | €10,967,417 | -€180,132 | -1.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €9,498,352 | €9,565,755 | +€67,403 | +0.7% |
| Remuneration, social security and pensions | 62 | €1,354,394 | €1,410,441 | +€56,047 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,895 | €186,555 | +€21,660 | +13.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,084 | +€8,084 | |
| Other operating charges | 640/8 | €59,590 | €9,941 | -€49,650 | -83.3% |
| Gross operating margin | 9900 | €1,675,836 | €1,409,571 | -€266,265 | -15.9% |
| Operating profit (loss) | 9901 | €96,957 | -€205,450 | -€302,406 | |
| Financial income | 75/76B | €19,210 | €35 | -€19,176 | -99.8% |
| Recurring financial income | 75 | €17,442 | €35 | -€17,408 | -99.8% |
| Non-recurring financial income | 76B | €1,768 | - | -€1,768 | |
| Financial charges | 65/66B | €66,450 | €75,370 | +€8,920 | +13.4% |
| Recurring financial charges | 65 | €66,090 | €75,370 | +€9,280 | +14.0% |
| Non-recurring financial charges | 66B | €360 | - | -€360 | |
| Profit (loss) for the period before taxes | 9903 | €49,716 | -€280,785 | -€330,501 | |
| Income taxes | 67/77 | €27,719 | -€8,116 | -€35,834 | |
| Profit (loss) for the period | 9904 | €21,997 | -€272,670 | -€294,667 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,997 | -€272,670 | -€294,667 |
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 24 October 2026 via checked.be.