ALGO: 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.
What changed
ALGO
NACE 01.130, Growing of vegetables, melons, roots and tubers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€171,481
2024 · €79,466+€92,015
Equity
€1.6m
2024 · €1.4m+€171,481
Cash
€6,479
2024 · €5,733+€746
Balance sheet total
€4.5m
2024 · €4.2m+€230,130
Largest movements
Assets
- Stocks and contracts +€269,071
up €269,071 (+22.6%), from €1.2m to €1.5m
- Receivables within one year -€149,836
down €149,836 (-21.1%), from €708,607 to €558,771
of which Trade receivables: -€79,304
- Tangible fixed assets +€107,387
up €107,387 (+4.6%), from €2.3m to €2.4m
of which Land and buildings: +€220,433
Equity and liabilities
- Short-term financial debts +€328,390
up €328,390 (+459%), from €71,610 to €400,000
- Profit (loss) carried forward +€188,244
up €188,244 (+55.1%), from -€341,925 to -€153,681
- Debts after one year -€172,742
down €172,742 (-11.9%), from €1.5m to €1.3m
- Other debts -€105,092
down €105,092 (-50.3%), from €209,032 to €103,940
- Current portion of long-term debt +€58,725
up €58,725 (+24.0%), from €244,643 to €303,368
Income statement
- Gross operating margin +€217,362
up €217,362 (+43.9%), from €494,768 to €712,131
- Depreciation +€116,775
up €116,775 (+34.7%), from €336,074 to €452,849
- Financial charges +€34,752
up €34,752 (+67.5%), from €51,473 to €86,225
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.
Result 2024
€79,466
Gross operating margin
+€217,362
Depreciation
-€116,775
Other operating charges
-€4,562
Other operating items
+€827
Financial income
+€279
Financial charges
-€34,752
Taxes
+€163
Deferred taxes and other
+€29,472
Result 2025
€171,481
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€346,056
Investment
-€559,683
Financing
+€214,373
Cash 2024
€5,733
From operations (derived)
+€346,056
Net result for the year
+€171,481
Depreciation
+€452,849
Stocks and contracts
-€269,071
Receivables within one year
+€149,836
Deferred charges and accrued income
-€3,316
Provisions
-€5,588
Trade debts
-€45,046
Tax, wage and social debts
+€2
Other debts
-€105,092
Investment (derived)
-€559,683
Investment in fixed assets (net)
-€559,683
Financing
+€214,373
Debts after one year
-€172,742
Current portion of long-term debt
+€58,725
Short-term financial debts
+€328,390
Cash 2025
€6,479
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,234,962 | €4,465,092 | +€230,130 | +5.4% |
| Fixed assets | 21/28 | €2,320,285 | €2,427,119 | +€106,833 | +4.6% |
| Intangible fixed assets | 21 | €1,074 | €520 | -€554 | -51.6% |
| Tangible fixed assets | 22/27 | €2,319,211 | €2,426,599 | +€107,387 | +4.6% |
| Land and buildings | 22 | €879,998 | €1,100,431 | +€220,433 | +25.0% |
| Plant, machinery and equipment | 23 | €393,259 | €360,822 | -€32,438 | -8.2% |
| Furniture and vehicles | 24 | €3,720 | €2,520 | -€1,200 | -32.3% |
| Leasing and similar rights | 25 | €1,028,164 | €950,708 | -€77,456 | -7.5% |
| Other tangible fixed assets | 26 | €14,070 | €12,118 | -€1,952 | -13.9% |
| Current assets | 29/58 | €1,914,676 | €2,037,973 | +€123,297 | +6.4% |
| Stocks and contracts in progress | 3 | €1,189,679 | €1,458,750 | +€269,071 | +22.6% |
| Stocks | 30/36 | €1,189,679 | €1,458,750 | +€269,071 | +22.6% |
| Amounts receivable within one year | 40/41 | €708,607 | €558,771 | -€149,836 | -21.1% |
| Trade receivables | 40 | €624,495 | €545,191 | -€79,304 | -12.7% |
| Other amounts receivable | 41 | €84,112 | €13,579 | -€70,532 | -83.9% |
| Cash at bank and in hand | 54/58 | €5,733 | €6,479 | +€746 | +13.0% |
| Deferred charges and accrued income | 490/1 | €10,658 | €13,974 | +€3,316 | +31.1% |
| Total equity and liabilities | 10/49 | €4,234,962 | €4,465,092 | +€230,130 | +5.4% |
| Equity | 10/15 | €1,397,900 | €1,569,381 | +€171,481 | +12.3% |
| Contributions | 10/11 | €1,661,973 | €1,661,973 | = | 0.0% |
| Capital | 10 | €1,661,973 | €1,661,973 | = | 0.0% |
| Issued capital | 100 | €1,661,973 | €1,661,973 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Reserves | 13 | €77,851 | €61,089 | -€16,763 | -21.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,654 | €54,891 | -€16,763 | -23.4% |
| Profit (loss) carried forward | 14 | -€341,925 | -€153,681 | +€188,244 | +55.1% |
| Provisions and deferred taxes | 16 | €23,885 | €18,297 | -€5,588 | -23.4% |
| Deferred taxes | 168 | €23,885 | €18,297 | -€5,588 | -23.4% |
| Amounts payable | 17/49 | €2,813,177 | €2,877,413 | +€64,236 | +2.3% |
| Amounts payable after more than one year | 17 | €1,457,684 | €1,284,941 | -€172,742 | -11.9% |
| Financial debts | 170/4 | €1,457,684 | €1,284,941 | -€172,742 | -11.9% |
| Amounts payable within one year | 42/48 | €1,355,494 | €1,592,472 | +€236,978 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €244,643 | €303,368 | +€58,725 | +24.0% |
| Financial debts | 43 | €71,610 | €400,000 | +€328,390 | +459% |
| Credit institutions | 430/8 | €71,610 | €400,000 | +€328,390 | +459% |
| Trade debts | 44 | €830,034 | €784,988 | -€45,046 | -5.4% |
| Suppliers | 440/4 | €830,034 | €784,988 | -€45,046 | -5.4% |
| Taxes, remuneration and social security | 45 | €174 | €176 | +€2 | +0.9% |
| Taxes | 450/3 | €174 | €176 | +€2 | +0.9% |
| Other amounts payable | 47/48 | €209,032 | €103,940 | -€105,092 | -50.3% |
| Non-recurring operating income | 76A | €121,089 | €70,000 | -€51,089 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €336,074 | €452,849 | +€116,775 | +34.7% |
| Other operating charges | 640/8 | €3,275 | €7,838 | +€4,562 | +139% |
| Non-recurring operating charges | 66A | €827 | €0 | -€827 | -100% |
| Gross operating margin | 9900 | €494,768 | €712,131 | +€217,362 | +43.9% |
| Operating profit (loss) | 9901 | €154,591 | €251,444 | +€96,852 | +62.7% |
| Financial income | 75/76B | €571 | €851 | +€279 | +48.9% |
| Recurring financial income | 75 | €571 | €851 | +€279 | +48.9% |
| Financial charges | 65/66B | €51,473 | €86,225 | +€34,752 | +67.5% |
| Recurring financial charges | 65 | €51,473 | €86,225 | +€34,752 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €103,690 | €166,070 | +€62,380 | +60.2% |
| Transfer from deferred taxes | 780 | €4,053 | €5,588 | +€1,535 | +37.9% |
| Transfer to deferred taxes | 680 | €27,938 | €0 | -€27,938 | -100% |
| Income taxes | 67/77 | €339 | €176 | -€163 | -48.0% |
| Profit (loss) for the period | 9904 | €79,466 | €171,481 | +€92,015 | +116% |
| Transfer from tax-exempt reserves | 789 | €12,159 | €16,763 | +€4,604 | +37.9% |
| Transfer to tax-exempt reserves | 689 | €83,813 | €0 | -€83,813 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €7,812 | €188,244 | +€180,431 | +2,310% |
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.