FRI-AGRA: 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.
FRI-AGRA
Largest movements
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Receivables within one year -€144,333
down €144,333 (-31.7%), from €455,118 to €310,785
of which Trade receivables: -€202,015
- Cash +€112,022
up €112,022 (+336%), from €33,309 to €145,332
mainly Current investments (+€500,000) and Receivables within one year (+€144,333)
- Deferred charges and accrued income -€100,431
down €100,431 (-97.6%), from €102,935 to €2,505
- Tangible fixed assets -€18,830
down €18,830 (-12.3%), from €152,668 to €133,838
of which Plant, machinery and equipment: -€9,965
- Profit (loss) carried forward -€244,390
down €244,390 (-7.9%), from -€3.1m to -€3.3m
- Trade debts -€238,693
down €238,693 (-83.4%), from €286,068 to €47,375
- Accrued charges and deferred income -€135,137
down €135,137 (-94.2%), from €143,417 to €8,280
- Staff costs -€221,778
down €221,778 (-75.1%), from €295,328 to €73,550
- Gross operating margin -€159,273
down €159,273, from €8,041 to -€151,233
- Financial income -€15,106
down €15,106 (-50.1%), from €30,142 to €15,036
- Other operating charges +€8,234
up €8,234 (+122%), from €6,736 to €14,969
- Depreciation -€3,123
down €3,123 (-14.2%), from €21,953 to €18,830
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 | €1,444,261 | €792,690 | -€651,571 | -45.1% |
| Fixed assets | 21/28 | €352,899 | €334,069 | -€18,830 | -5.3% |
| Tangible fixed assets | 22/27 | €152,668 | €133,838 | -€18,830 | -12.3% |
| Plant, machinery and equipment | 23 | €109,702 | €99,737 | -€9,965 | -9.1% |
| Furniture and vehicles | 24 | €42,967 | €34,102 | -€8,865 | -20.6% |
| Financial fixed assets | 28 | €200,231 | €200,231 | = | 0.0% |
| Current assets | 29/58 | €1,091,362 | €458,621 | -€632,741 | -58.0% |
| Amounts receivable within one year | 40/41 | €455,118 | €310,785 | -€144,333 | -31.7% |
| Trade receivables | 40 | €216,857 | €14,842 | -€202,015 | -93.2% |
| Other amounts receivable | 41 | €238,260 | €295,943 | +€57,682 | +24.2% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €33,309 | €145,332 | +€112,022 | +336% |
| Deferred charges and accrued income | 490/1 | €102,935 | €2,505 | -€100,431 | -97.6% |
| Total equity and liabilities | 10/49 | €1,444,261 | €792,690 | -€651,571 | -45.1% |
| Equity | 10/15 | €970,199 | €722,340 | -€247,859 | -25.5% |
| Contributions | 10/11 | €3,392,000 | €3,392,000 | = | 0.0% |
| Capital | 10 | €3,392,000 | €3,392,000 | = | 0.0% |
| Issued capital | 100 | €3,392,000 | €3,392,000 | = | 0.0% |
| Revaluation surpluses | 12 | €532,753 | €532,753 | = | 0.0% |
| Reserves | 13 | €112,635 | €112,635 | = | 0.0% |
| Non-distributable reserves | 130/1 | €73,551 | €73,551 | = | 0.0% |
| Legal reserve | 130 | €73,551 | €73,551 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,084 | €39,084 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,090,465 | -€3,334,855 | -€244,390 | -7.9% |
| Investment grants | 15 | €23,276 | €19,806 | -€3,470 | -14.9% |
| Amounts payable | 17/49 | €474,062 | €70,350 | -€403,712 | -85.2% |
| Amounts payable after more than one year | 17 | €3,766 | €0 | -€3,766 | -100% |
| Financial debts | 170/4 | €3,766 | €0 | -€3,766 | -100% |
| Amounts payable within one year | 42/48 | €326,879 | €62,070 | -€264,809 | -81.0% |
| Current portion of amounts payable after more than one year | 42 | €15,695 | €3,766 | -€11,929 | -76.0% |
| Financial debts | 43 | €4 | €4 | = | 0.0% |
| Credit institutions | 430/8 | €4 | €4 | = | 0.0% |
| Trade debts | 44 | €286,068 | €47,375 | -€238,693 | -83.4% |
| Suppliers | 440/4 | €286,068 | €47,375 | -€238,693 | -83.4% |
| Taxes, remuneration and social security | 45 | €24,935 | €10,925 | -€14,011 | -56.2% |
| Taxes | 450/3 | €7,899 | €0 | -€7,899 | -100% |
| Remuneration and social security | 454/9 | €17,036 | €10,925 | -€6,111 | -35.9% |
| Other amounts payable | 47/48 | €176 | €0 | -€176 | -100% |
| Accrued charges and deferred income | 492/3 | €143,417 | €8,280 | -€135,137 | -94.2% |
| Non-recurring operating income | 76A | €13,608 | €6,965 | -€6,643 | -48.8% |
| Remuneration, social security and pensions | 62 | €295,328 | €73,550 | -€221,778 | -75.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,953 | €18,830 | -€3,123 | -14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €492 | -€965 | -€1,457 | |
| Other operating charges | 640/8 | €6,736 | €14,969 | +€8,234 | +122% |
| Gross operating margin | 9900 | €8,041 | -€151,233 | -€159,273 | |
| Operating profit (loss) | 9901 | -€316,469 | -€257,618 | +€58,851 | +18.6% |
| Financial income | 75/76B | €30,142 | €15,036 | -€15,106 | -50.1% |
| Recurring financial income | 75 | €30,142 | €15,036 | -€15,106 | -50.1% |
| Financial charges | 65/66B | €1,994 | €1,808 | -€185 | -9.3% |
| Recurring financial charges | 65 | €1,994 | €1,808 | -€185 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€288,320 | -€244,390 | +€43,931 | +15.2% |
| Income taxes | 67/77 | €40 | €0 | -€40 | -100% |
| Profit (loss) for the period | 9904 | -€288,360 | -€244,390 | +€43,970 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€288,360 | -€244,390 | +€43,970 | +15.2% |
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.