CONAGRAM: 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.
CONAGRAM
Largest movements
- Cash -€189,187
down €189,187 (-76.5%), from €247,319 to €58,132
mainly Debts after one year (-€151,302) and Investment in fixed assets (net) (-€65,718)
- Receivables within one year +€46,695
up €46,695 (+214%), from €21,790 to €68,485
of which Trade receivables: +€47,491
- Tangible fixed assets -€9,555
down €9,555 (-1.7%), from €572,279 to €562,724
of which Leasing and similar rights: -€24,886
- Debts after one year -€151,302
down €151,302 (-46.1%), from €328,362 to €177,060
- Tax, wage and social debts -€36,669
no longer reported in 2025 (was €36,669)
- Trade debts +€18,483
up €18,483 (+782%), from €2,363 to €20,845
- Profit (loss) carried forward +€14,993
up €14,993 (+4.7%), from €318,175 to €333,168
- Gross operating margin -€81,242
down €81,242 (-43.1%), from €188,560 to €107,318
- Depreciation +€15,956
up €15,956 (+26.8%), from €59,637 to €75,592
- Taxes -€13,382
down €13,382 (-64.1%), from €20,882 to €7,500
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 | €844,823 | €692,375 | -€152,448 | -18.0% |
| Formation expenses | 20 | €355 | €36 | -€319 | -90.0% |
| Fixed assets | 21/28 | €572,279 | €562,724 | -€9,555 | -1.7% |
| Tangible fixed assets | 22/27 | €572,279 | €562,724 | -€9,555 | -1.7% |
| Plant, machinery and equipment | 23 | €340,590 | €355,866 | +€15,276 | +4.5% |
| Furniture and vehicles | 24 | €348 | €403 | +€55 | +15.7% |
| Leasing and similar rights | 25 | €231,341 | €206,455 | -€24,886 | -10.8% |
| Current assets | 29/58 | €272,189 | €129,615 | -€142,574 | -52.4% |
| Amounts receivable within one year | 40/41 | €21,790 | €68,485 | +€46,695 | +214% |
| Trade receivables | 40 | - | €47,491 | +€47,491 | |
| Other amounts receivable | 41 | €21,790 | €20,994 | -€796 | -3.7% |
| Cash at bank and in hand | 54/58 | €247,319 | €58,132 | -€189,187 | -76.5% |
| Deferred charges and accrued income | 490/1 | €3,080 | €2,999 | -€81 | -2.6% |
| Total equity and liabilities | 10/49 | €844,823 | €692,375 | -€152,448 | -18.0% |
| Equity | 10/15 | €328,175 | €343,168 | +€14,993 | +4.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €318,175 | €333,168 | +€14,993 | +4.7% |
| Amounts payable | 17/49 | €516,648 | €349,207 | -€167,441 | -32.4% |
| Amounts payable after more than one year | 17 | €328,362 | €177,060 | -€151,302 | -46.1% |
| Financial debts | 170/4 | €328,362 | €177,060 | -€151,302 | -46.1% |
| Amounts payable within one year | 42/48 | €188,286 | €172,147 | -€16,139 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €149,255 | €151,302 | +€2,047 | +1.4% |
| Trade debts | 44 | €2,363 | €20,845 | +€18,483 | +782% |
| Suppliers | 440/4 | €2,363 | €20,845 | +€18,483 | +782% |
| Taxes, remuneration and social security | 45 | €36,669 | - | -€36,669 | |
| Taxes | 450/3 | €36,669 | - | -€36,669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,637 | €75,592 | +€15,956 | +26.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €188,560 | €107,318 | -€81,242 | -43.1% |
| Operating profit (loss) | 9901 | €128,536 | €31,326 | -€97,210 | -75.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8,969 | €8,833 | -€136 | -1.5% |
| Recurring financial charges | 65 | €8,969 | €8,833 | -€136 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €119,568 | €22,493 | -€97,075 | -81.2% |
| Income taxes | 67/77 | €20,882 | €7,500 | -€13,382 | -64.1% |
| Profit (loss) for the period | 9904 | €98,685 | €14,993 | -€83,693 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,685 | €14,993 | -€83,693 | -84.8% |
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 25 October 2026 via checked.be.