AGRO-SPY: 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.
AGRO-SPY
Largest movements
- Receivables within one year -€82,248
down €82,248 (-60.6%), from €135,651 to €53,403
of which Trade receivables: -€86,330
- Tangible fixed assets -€31,399
down €31,399 (-6.4%), from €487,978 to €456,579
of which Leasing and similar rights: -€43,680
- Cash +€12,044
up €12,044 (+86.8%), from €13,871 to €25,915
mainly Depreciation (+€133,171) and Receivables within one year (+€82,248)
- Profit (loss) carried forward -€92,903
down €92,903 (-101%), from -€91,816 to -€184,718
- Debts after one year +€32,478
up €32,478 (+7.0%), from €466,910 to €499,387
- Tax, wage and social debts -€12,142
down €12,142 (-56.1%), from €21,648 to €9,506
of which Taxes: -€10,057
- Trade debts -€12,116
down €12,116 (-31.7%), from €38,166 to €26,051
- Current portion of long-term debt -€10,061
down €10,061 (-7.6%), from €131,583 to €121,522
- Gross operating margin -€55,646
down €55,646 (-34.5%), from €161,120 to €105,473
- Depreciation -€2,607
down €2,607 (-1.9%), from €135,778 to €133,171
- Staff costs +€2,124
up €2,124 (+5.1%), from €41,442 to €43,566
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 | €644,575 | €545,511 | -€99,064 | -15.4% |
| Fixed assets | 21/28 | €488,028 | €456,629 | -€31,399 | -6.4% |
| Tangible fixed assets | 22/27 | €487,978 | €456,579 | -€31,399 | -6.4% |
| Plant, machinery and equipment | 23 | €397,197 | €364,092 | -€33,105 | -8.3% |
| Furniture and vehicles | 24 | - | €45,385 | +€45,385 | |
| Leasing and similar rights | 25 | €90,781 | €47,102 | -€43,680 | -48.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €156,547 | €88,882 | -€67,664 | -43.2% |
| Stocks and contracts in progress | 3 | €2,550 | €4,059 | +€1,509 | +59.2% |
| Stocks | 30/36 | €2,550 | €4,059 | +€1,509 | +59.2% |
| Amounts receivable within one year | 40/41 | €135,651 | €53,403 | -€82,248 | -60.6% |
| Trade receivables | 40 | €135,651 | €49,321 | -€86,330 | -63.6% |
| Other amounts receivable | 41 | - | €4,082 | +€4,082 | |
| Cash at bank and in hand | 54/58 | €13,871 | €25,915 | +€12,044 | +86.8% |
| Deferred charges and accrued income | 490/1 | €4,474 | €5,506 | +€1,031 | +23.0% |
| Total equity and liabilities | 10/49 | €644,575 | €545,511 | -€99,064 | -15.4% |
| Equity | 10/15 | -€83,756 | -€176,658 | -€92,903 | -111% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,816 | -€184,718 | -€92,903 | -101% |
| Amounts payable | 17/49 | €728,331 | €722,170 | -€6,161 | -0.8% |
| Amounts payable after more than one year | 17 | €466,910 | €499,387 | +€32,478 | +7.0% |
| Financial debts | 170/4 | €466,910 | €499,387 | +€32,478 | +7.0% |
| Amounts payable within one year | 42/48 | €261,421 | €222,782 | -€38,639 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €131,583 | €121,522 | -€10,061 | -7.6% |
| Trade debts | 44 | €38,166 | €26,051 | -€12,116 | -31.7% |
| Suppliers | 440/4 | €38,166 | €26,051 | -€12,116 | -31.7% |
| Taxes, remuneration and social security | 45 | €21,648 | €9,506 | -€12,142 | -56.1% |
| Taxes | 450/3 | €11,606 | €1,549 | -€10,057 | -86.7% |
| Remuneration and social security | 454/9 | €10,042 | €7,958 | -€2,085 | -20.8% |
| Other amounts payable | 47/48 | €70,023 | €65,703 | -€4,320 | -6.2% |
| Non-recurring operating income | 76A | €19,263 | €13,000 | -€6,263 | -32.5% |
| Remuneration, social security and pensions | 62 | €41,442 | €43,566 | +€2,124 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,778 | €133,171 | -€2,607 | -1.9% |
| Other operating charges | 640/8 | €10,165 | €9,486 | -€680 | -6.7% |
| Gross operating margin | 9900 | €161,120 | €105,473 | -€55,646 | -34.5% |
| Operating profit (loss) | 9901 | -€26,266 | -€80,749 | -€54,484 | -207% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €11,041 | €11,979 | +€937 | +8.5% |
| Recurring financial charges | 65 | €11,041 | €11,979 | +€937 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | -€37,307 | -€92,726 | -€55,419 | -149% |
| Income taxes | 67/77 | €244 | €177 | -€67 | -27.4% |
| Profit (loss) for the period | 9904 | -€37,551 | -€92,903 | -€55,352 | -147% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,551 | -€92,903 | -€55,352 | -147% |
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 15 October 2026 via checked.be.