ERNAGRI: 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.
ERNAGRI
Largest movements
- Tangible fixed assets +€86,695
up €86,695 (+9.5%), from €911,280 to €997,974
of which Plant, machinery and equipment: +€107,472
- Receivables within one year +€71,810
up €71,810 (+55.6%), from €129,249 to €201,059
of which Trade receivables: +€81,680
- Cash +€69,661
up €69,661 (+34.3%), from €203,232 to €272,893
mainly Depreciation (+€197,603) and Net result for the year (+€162,092)
- Reserves +€162,092
up €162,092 (+5403.1%), from €3,000 to €165,092
of which Distributable reserves: +€162,092
- Investment grants +€50,645
up €50,645 (+222.6%), from €22,750 to €73,395
- Short-term financial debts -€38,370
no longer reported in 2025 (was €38,370)
- Debts after one year +€22,580
up €22,580 (+2.9%), from €780,528 to €803,108
- Current portion of long-term debt +€21,746
up €21,746 (+12.7%), from €170,646 to €192,391
- Gross operating margin +€148,752
up €148,752 (+52.6%), from €282,928 to €431,680
- Depreciation +€22,515
up €22,515 (+12.9%), from €175,088 to €197,603
- Taxes +€16,209
up €16,209 (+32418380.0%), from €0 to €16,209
- Financial income -€9,645
down €9,645 (-49.6%), from €19,461 to €9,816
- Financial charges +€5,725
up €5,725 (+43.7%), from €13,088 to €18,813
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 | €1,466,320 | €1,701,758 | +€235,438 | +16.1% |
| Fixed assets | 21/28 | €911,507 | €998,202 | +€86,695 | +9.5% |
| Tangible fixed assets | 22/27 | €911,280 | €997,974 | +€86,695 | +9.5% |
| Land and buildings | 22 | €104,426 | €93,772 | -€10,654 | -10.2% |
| Plant, machinery and equipment | 23 | €787,272 | €894,744 | +€107,472 | +13.7% |
| Furniture and vehicles | 24 | €19,582 | €9,458 | -€10,124 | -51.7% |
| Financial fixed assets | 28 | €228 | €228 | = | 0.0% |
| Current assets | 29/58 | €554,812 | €703,556 | +€148,743 | +26.8% |
| Stocks and contracts in progress | 3 | €214,388 | €217,071 | +€2,684 | +1.3% |
| Stocks | 30/36 | €214,388 | €217,071 | +€2,684 | +1.3% |
| Amounts receivable within one year | 40/41 | €129,249 | €201,059 | +€71,810 | +55.6% |
| Trade receivables | 40 | €93,127 | €174,807 | +€81,680 | +87.7% |
| Other amounts receivable | 41 | €36,122 | €26,252 | -€9,870 | -27.3% |
| Cash at bank and in hand | 54/58 | €203,232 | €272,893 | +€69,661 | +34.3% |
| Deferred charges and accrued income | 490/1 | €7,943 | €12,532 | +€4,589 | +57.8% |
| Total equity and liabilities | 10/49 | €1,466,320 | €1,701,758 | +€235,438 | +16.1% |
| Equity | 10/15 | €437,224 | €649,961 | +€212,737 | +48.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €165,092 | +€162,092 | +5403.1% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | - | €162,092 | +€162,092 | |
| Profit (loss) carried forward | 14 | €381,474 | €381,474 | = | 0.0% |
| Investment grants | 15 | €22,750 | €73,395 | +€50,645 | +222.6% |
| Amounts payable | 17/49 | €1,029,096 | €1,051,796 | +€22,701 | +2.2% |
| Amounts payable after more than one year | 17 | €780,528 | €803,108 | +€22,580 | +2.9% |
| Financial debts | 170/4 | €780,528 | €803,108 | +€22,580 | +2.9% |
| Amounts payable within one year | 42/48 | €248,568 | €248,689 | +€120 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €170,646 | €192,391 | +€21,746 | +12.7% |
| Financial debts | 43 | €38,370 | - | -€38,370 | |
| Other loans | 439 | €38,370 | - | -€38,370 | |
| Trade debts | 44 | €36,285 | €35,383 | -€902 | -2.5% |
| Suppliers | 440/4 | €36,285 | €35,383 | -€902 | -2.5% |
| Taxes, remuneration and social security | 45 | €3,116 | €20,915 | +€17,799 | +571.2% |
| Taxes | 450/3 | - | €16,240 | +€16,240 | |
| Remuneration and social security | 454/9 | €3,116 | €4,675 | +€1,559 | +50.0% |
| Other amounts payable | 47/48 | €152 | - | -€152 | |
| Non-recurring operating income | 76A | - | €75,000 | +€75,000 | |
| Remuneration, social security and pensions | 62 | €44,393 | €46,651 | +€2,258 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,088 | €197,603 | +€22,515 | +12.9% |
| Other operating charges | 640/8 | €128 | €128 | = | 0.0% |
| Gross operating margin | 9900 | €282,928 | €431,680 | +€148,752 | +52.6% |
| Operating profit (loss) | 9901 | €63,319 | €187,299 | +€123,979 | +195.8% |
| Financial income | 75/76B | €19,461 | €9,816 | -€9,645 | -49.6% |
| Recurring financial income | 75 | €19,461 | €9,816 | -€9,645 | -49.6% |
| Financial charges | 65/66B | €13,088 | €18,813 | +€5,725 | +43.7% |
| Recurring financial charges | 65 | €13,088 | €18,813 | +€5,725 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | €69,692 | €178,302 | +€108,609 | +155.8% |
| Income taxes | 67/77 | €0 | €16,209 | +€16,209 | +32418380.0% |
| Profit (loss) for the period | 9904 | €69,692 | €162,092 | +€92,400 | +132.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,692 | €162,092 | +€92,400 | +132.6% |
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 10 October 2026 via checked.be.