PHILAGRI: what changed
Two fiscal 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
PHILAGRI
NACE 46.610, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€324,650
2024 · €475,738-€151,088
Equity
€2.6m
2024 · €2.6m-€75,350
Cash
€623,398
2024 · €621,204+€2,194
Balance sheet total
€3.5m
2024 · €3.7m-€253,595
Largest movements
Assets
- Receivables within one year -€288,319
down €288,319 (-23.8%), from €1.2m to €924,993
of which Trade receivables: -€291,984
- Tangible fixed assets +€95,852
up €95,852 (+27.9%), from €343,412 to €439,264
of which Plant, machinery and equipment: +€61,016
- Stocks and contracts -€63,618
down €63,618 (-4.1%), from €1.5m to €1.5m
Equity and liabilities
- Trade debts -€160,912
down €160,912 (-22.3%), from €721,296 to €560,385
- Profit (loss) carried forward -€70,634
down €70,634 (-3.1%), from €2.3m to €2.2m
Income statement
- Gross operating margin -€99,333
down €99,333 (-9.3%), from €1.1m to €968,600
- Taxes -€52,334
down €52,334 (-31.2%), from €167,735 to €115,400
- Staff costs +€36,252
up €36,252 (+9.0%), from €400,702 to €436,953
- Financial income -€35,087
down €35,087 (-39.2%), from €89,435 to €54,348
- Depreciation +€32,250
up €32,250 (+37.7%), from €85,561 to €117,811
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
€475,738
Gross operating margin
-€99,333
Staff costs
-€36,252
Depreciation
-€32,250
Other operating charges
+€121
Other operating items
-€6,946
Financial income
-€35,087
Financial charges
+€6,325
Taxes
+€52,334
Result 2025
€324,650
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.
From operations
+€645,000
Investment
-€213,663
Financing
-€429,143
Cash 2024
€621,204
From operations (derived)
+€645,000
Net result for the year
+€324,650
Depreciation
+€117,811
Stocks and contracts
+€63,618
Receivables within one year
+€288,319
Deferred charges and accrued income
-€296
Provisions
-€2,428
Trade debts
-€160,912
Tax, wage and social debts
+€14,238
Investment (derived)
-€213,663
Investment in fixed assets (net)
-€213,663
Financing
-€429,143
Debts after one year
-€30,351
Current portion of long-term debt
+€1,207
Contributions, distributions and other
-€400,000
Cash 2025
€623,398
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,722,043 | €3,468,448 | -€253,595 | -6.8% |
| Fixed assets | 21/28 | €343,960 | €439,812 | +€95,852 | +27.9% |
| Tangible fixed assets | 22/27 | €343,412 | €439,264 | +€95,852 | +27.9% |
| Land and buildings | 22 | €146,481 | €121,995 | -€24,486 | -16.7% |
| Plant, machinery and equipment | 23 | €138,207 | €199,223 | +€61,016 | +44.1% |
| Furniture and vehicles | 24 | €58,724 | €118,046 | +€59,322 | +101.0% |
| Financial fixed assets | 28 | €548 | €548 | = | 0.0% |
| Current assets | 29/58 | €3,378,083 | €3,028,636 | -€349,447 | -10.3% |
| Stocks and contracts in progress | 3 | €1,541,971 | €1,478,353 | -€63,618 | -4.1% |
| Stocks | 30/36 | €1,541,971 | €1,478,353 | -€63,618 | -4.1% |
| Amounts receivable within one year | 40/41 | €1,213,312 | €924,993 | -€288,319 | -23.8% |
| Trade receivables | 40 | €1,175,305 | €883,321 | -€291,984 | -24.8% |
| Other amounts receivable | 41 | €38,007 | €41,672 | +€3,665 | +9.6% |
| Cash at bank and in hand | 54/58 | €621,204 | €623,398 | +€2,194 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,596 | €1,892 | +€296 | +18.5% |
| Total equity and liabilities | 10/49 | €3,722,043 | €3,468,448 | -€253,595 | -6.8% |
| Equity | 10/15 | €2,633,807 | €2,558,458 | -€75,350 | -2.9% |
| Contributions | 10/11 | €161,131 | €161,131 | = | 0.0% |
| Reserves | 13 | €159,692 | €154,977 | -€4,716 | -3.0% |
| Tax-exempt reserves | 132 | €23,579 | €18,864 | -€4,716 | -20.0% |
| Distributable reserves | 133 | €136,113 | €136,113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,312,984 | €2,242,350 | -€70,634 | -3.1% |
| Provisions and deferred taxes | 16 | €12,141 | €9,713 | -€2,428 | -20.0% |
| Deferred taxes | 168 | €12,141 | €9,713 | -€2,428 | -20.0% |
| Amounts payable | 17/49 | €1,076,094 | €900,277 | -€175,817 | -16.3% |
| Amounts payable after more than one year | 17 | €200,835 | €170,484 | -€30,351 | -15.1% |
| Financial debts | 170/4 | €145,255 | €114,905 | -€30,351 | -20.9% |
| Other amounts payable | 178/9 | €55,580 | €55,580 | = | 0.0% |
| Amounts payable within one year | 42/48 | €875,259 | €729,793 | -€145,467 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €81,042 | €82,249 | +€1,207 | +1.5% |
| Trade debts | 44 | €721,296 | €560,385 | -€160,912 | -22.3% |
| Suppliers | 440/4 | €721,296 | €560,385 | -€160,912 | -22.3% |
| Taxes, remuneration and social security | 45 | €70,178 | €84,416 | +€14,238 | +20.3% |
| Taxes | 450/3 | €56,582 | €67,963 | +€11,380 | +20.1% |
| Remuneration and social security | 454/9 | €13,596 | €16,454 | +€2,858 | +21.0% |
| Other amounts payable | 47/48 | €2,742 | €2,742 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €400,702 | €436,953 | +€36,252 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,561 | €117,811 | +€32,250 | +37.7% |
| Other operating charges | 640/8 | €12,240 | €12,119 | -€121 | -1.0% |
| Non-recurring operating charges | 66A | - | €6,946 | +€6,946 | |
| Gross operating margin | 9900 | €1,067,933 | €968,600 | -€99,333 | -9.3% |
| Operating profit (loss) | 9901 | €569,431 | €394,771 | -€174,660 | -30.7% |
| Financial income | 75/76B | €89,435 | €54,348 | -€35,087 | -39.2% |
| Recurring financial income | 75 | €89,435 | €54,348 | -€35,087 | -39.2% |
| Financial charges | 65/66B | €17,821 | €11,497 | -€6,325 | -35.5% |
| Recurring financial charges | 65 | €17,821 | €11,497 | -€6,325 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €641,044 | €437,622 | -€203,422 | -31.7% |
| Transfer from deferred taxes | 780 | €2,428 | €2,428 | = | 0.0% |
| Income taxes | 67/77 | €167,735 | €115,400 | -€52,334 | -31.2% |
| Profit (loss) for the period | 9904 | €475,738 | €324,650 | -€151,088 | -31.8% |
| Transfer from tax-exempt reserves | 789 | €4,716 | €4,716 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €480,454 | €329,366 | -€151,088 | -31.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.