Károly Kacz

34879960000

Publications - 11

Sustainability reporting practices of Hungarian food subsectors from EU taxonomy perspectives

Károly Kacz Andrea Rózsa Szabolcs Troján Judit Hegyi Nóra Gombköto Ibolya Lámfalusi Judit Hámori

Publication Name: Discover Sustainability

Publication Date: 2025-12-01

Volume: 6

Issue: 1

Page Range: Unknown

Description:

The importance and relevance of sustainability reporting by food companies is growing in the wake of green compliance, especially in EU Member States, where–in line with the EU Taxonomy–stricter legislation requires more accurate and transparent sustainability reporting. From 2014, the NFRD (Non-Financial Reporting Directive) legislation made non-financial reporting mandatory only for companies with at least 500 employees and of public interest, while the CSRD (Corporative Sustainability Reporting Directive) legislation, which came into force in 2023, made it mandatory for all companies. The aim of this paper is to examine how companies are prepared to comply with the new legislation. The sustainability reporting of food companies by subsector was analysed to identify differences and compare the quality of reporting with financial performance data. The study used a content analysis with a scoring method to assess the quality of sustainability reports from the point of view of EU Taxonomy produced by companies in 2020 and 2021. The proportions of critical financial performance data within subsectors were also examined. In 2020 and 2021, the companies analysed accounted for over 50% of the sector’s total net revenue, net profit, and foreign registered capital, highlighting significant financial concentration. The results show that the content and quality of sustainability reporting by food companies varies considerably between subsectors. The subsectors, dairy products manufacturing, processing, and preserving of fruit and vegetables scored the highest on sustainability objectives, particularly excelling in climate change mitigation and adaptation. The significance of the study lies in the fact that the methodology provides an opportunity to track and re-examine the future reporting practices of companies following the legislative changes.

Open Access: Yes

DOI: 10.1007/s43621-025-00926-2

Evaluation of sustainability reporting of the food industry in Hungary from an EU taxonomy perspective

Károly Kacz Andrea Rózsa Szabolcs Troján Judit Hegyi Nóra Gombköto Ibolya Lámfalusi Judit Hámori Anita Miklósné Varga

Publication Name: Quality and Quantity

Publication Date: 2024-10-01

Volume: 58

Issue: 5

Page Range: 4479-4504

Description:

Compliance with green requirements is becoming increasingly important in assessing the performance of companies. The new CSRD legislation requires a wider range of companies to produce sustainability reports and their content is influenced by the EU's taxonomy regulation setting out the framework for sustainable finance. The disclosure of information affects the perception of companies' sustainability performance, which will affect their access to financial resources and development opportunities. The main question is, both in theory and in practice, how companies can comply with the legislation in the future. It is essential for the competitiveness of Hungary's food industry to keep pace with future environmental sustainability requirements, so we examined the sustainability reporting practices of the sector's key companies in terms of their contribution to the environmental objectives set out in the taxonomy regulation. The research fits well with the EU's overall green transition regulatory procedure and our study is gap-filling at macro-regional and sectoral levels. The sustainability reports were assessed by content analysis using a scoring method. The results show that the sustainability reporting practices of food processing companies in Hungary differ significantly. Furthermore, greater emphasis must be placed on reporting and the credibility of the reports to meet future expectations. Foreign-owned companies and companies with more than 500 employees attribute greater importance to reporting. In the food processing sector, the disclosure of information and data under the taxonomy objectives of mitigation of climate change, sustainable use of water and marine resources, and transition to a circular economy was most common.

Open Access: Yes

DOI: 10.1007/s11135-024-01873-2

Sustainability reporting practices of agricultural and forestry companies in Hungary: a content analysis

Károly Kacz Szabolcs Troján Judit Hegyi Nóra Gombköto Anita Miklósné Varga

Publication Name: Bio Web of Conferences

Publication Date: 2024-08-23

Volume: 125

Issue: Unknown

Page Range: Unknown

Description:

To demonstrate the sustainability of companies, some companies have already produced sustainability reports, most of which have been published on their websites, while others have only produced and made public the reports and certifications required by law. In the European Union, legislation as of 2014 required the preparation of non-financial reports for publicly relevant entities, companies and parent companies of large groups of companies considered to be entities and having an average number of employees of more than 500. However, in line with the European Green Deal and the Taxonomy Regulation, as of 2023, a new law has been introduced, which extends the sustainability reporting obligation to nonpublic large companies and public small and medium-sized enterprises. Agricultural enterprises should also be prepared for this reporting obligation. This study aims to examine the ESG indices of the sampled companies and seek a correlation between the quality of the information disclosed and the financial characteristics of the companies. The results show that while forestry companies pay more attention to the disclosure of this type of information, there is some under-disclosure in both sectors.

Open Access: Yes

DOI: 10.1051/bioconf/202412501010

Sentinels of Sustainability: Practices of Agricultural Farms Clustered in Hungary’s Farmers’ Markets

Károly Kacz Judit Petra Koltai Szabolcs Troján Tamás Vinkóczi Anita Miklósné Varga

Publication Name: Chemical Engineering Transactions

Publication Date: 2024-01-01

Volume: 114

Issue: Unknown

Page Range: 973-978

Description:

The analysis of local farmers' markets (FMs) is an important part of sustainability issues, as the products they offer can guarantee both the proper functioning of local farms and healthy nutrition for inhabitants. The aim of this research is to identify the most important characteristics of FMs small-scale businesses related to agricultural activities based on a convenience sample in Hungary. The database obtained by the questionnaire survey was compiled based on the answers of a total of 220 farm owners/managers. The results were subjected to analysis using a K-means clustering method, which identified four distinct groups of farms with the highest weighting of turnover from agricultural activity. The clustering distinguished beekeeping, arable crop production, animal husbandry, and vegetable and fruit production, which were treated as a separate cluster. The observed differences between the groups indicate that farms primarily engaged in beekeeping and livestock farming have the highest turnover. These findings may be manifested by the group’s member farms in terms of higher professional representation and high-quality products. A noteworthy distribution-related finding is that livestock products exhibit the greatest average distance from the point of origin to the FM, which can be attributed to the sparse geographical location of the production sites. The results could have a considerable consequence for policymakers in informing them about the design of support opportunities and the identification of beneficiary groups.

Open Access: Yes

DOI: 10.3303/CET24114163

Sustainability Analysis of the Financial Situation of Hungarian Food Companies

Károly Kacz Szabolcs Troján Judit Hegyi Éva Szalka Judit Makkos-Káldi

Publication Name: Chemical Engineering Transactions

Publication Date: 2024-01-01

Volume: 114

Issue: Unknown

Page Range: 943-948

Description:

In this study, the economic and financial performance of the Hungarian food industry sector sample between 2017 and 2022 was examined, with a special focus on the sustainable development rate. The increasingly prominent adverse economic and environmental changes in recent years have had a strong impact on firm-level performance, which can cause national economic problems in a strategic sector such as the food industry. The assessment relied mainly on information from a financial position and profit and loss accounts. The data were used to determine financial ratios and to calculate different growth rates, which were used to analyse the financing and sustainable growth issues of the sector. The number of Hungarian food processing enterprises has gradually declined over the period under study, with a concentration trend in terms of enterprise size, form and employment structure, as well as within sectors. Turnover and expenditure show linear growth at current prices, with increases in the various profit categories. The asset structure is stable, and profitability is improving. The number of companies and employment in the sector has been steadily declining in recent years, while efficiency is increasing, with total sector turnover approaching HUF 6.5 × 1012. The increase in profits in the food industry is remarkable for all branches of the economy. The sector is adapting well to the negative effects of the changing economic environment. The results of the study can help business leaders in their planning work when considering the evolution of growth rates, particularly the Sustainable Growth Rate.

Open Access: Yes

DOI: 10.3303/CET24114158

Development of the financial situation of Hungarian food industry enterprises - changes between 2017 and 2021

Károly Kacz Szabolcs Troján Judit Hegyi Anita Miklósné Varga

Publication Name: Economic and Regional Studies Studia Ekonomiczne I Regionalne

Publication Date: 2023-09-01

Volume: 16

Issue: 3

Page Range: 348-366

Description:

Subject and purpose of work:: The aim of the study is to analyse how the main financial data of d ouble-entry b ookkeeping f ood p rocessing e nterprises r eflect t he e ffects o f t he i ndicated economic environment. Materials and methods:: The evaluation was fundamentally based on ratios calculated on the basis of the statement of financial position and the income statement as well as trend analysis and financial indicators. Results:: The number of Hungarian food processing enterprises has been gradually decreasing over the period under review. Both turnover and expenditure show linear growth at current prices, with increases in the various result categories. The asset structure is stable, and profitability is improving. Conclusions:: The number of companies and the employment in the sector have been steadily declining in recent years, while efficiency is increasing. The increase in profits in the food industry is remarkable for all branches of the economy. The sector is adapting well to the negative effects of the changing economic environment.

Open Access: Yes

DOI: 10.2478/ers-2023-0022

Examining the Sustainability Reporting Practices of Agricultural and Forestry Companies Operating in Hungary

Károly Kacz Szabolcs Troján Judit Hegyi Nóra Gombköto Anita Miklósné Varga

Publication Name: Chemical Engineering Transactions

Publication Date: 2023-01-01

Volume: 107

Issue: Unknown

Page Range: 493-498

Description:

To demonstrate that companies are operating in a sustainable way, in line with the European Green Deal and the Taxonomy Regulation, some companies have already produced sustainability reports. Agricultural companies should also be prepared for this reporting obligation, which can cause considerable difficulties for farmers, so it is assumed that this is not yet common practice. In this research, the sustainability reporting practices of agricultural and forestry companies in Hungary were assessed and analysed. The research sought to find out what the current reporting practices of these companies are and how prepared they are for future regulation. In this paper, the information provided by companies on their websites and after personal contact was analysed using content analysis. The qualitative information gathered was quantified using a scoring method. For evaluating the data, descriptive statistics and pairwise correlation coefficients were applied. It is concluded that although forestry companies publish some level of information and pay more attention to the disclosure of this type of information than agricultural companies, there is a slight gap in both sectors. Moreover, almost a fifth of agricultural companies do not have any information on their websites. This is likely to change in the future, as the sustainability reporting legislation will broaden the range of companies that are required to report, so improvements in this field are expected.

Open Access: Yes

DOI: 10.3303/CET23107083

Examining the Evolution of Technological Conditions from the Point of View of the Application of Blockchain-based Data Management in Food Supply Chains

Károly Kacz Balázs Gyenge András Bertalan

Publication Name: Chemical Engineering Transactions

Publication Date: 2023-01-01

Volume: 107

Issue: Unknown

Page Range: 517-522

Description:

A critical point in making food chains more sustainable is to find different ways to increase efficiency. These can be aimed at shortening the chain, using more sustainable raw materials, etc. Blockchain technology offers the potential for reliable data management and simplified administration and is, therefore, definitely a tool to consider if the aim is to enhance sustainability in food chains. The question arises as to whether food chain operators have the technology and knowledge needed for widespread uptake. The aim of this research was to investigate whether the technical background and knowledge for the use of cryptocurrencies can be compared with the technological background for monitoring the food chain with blockchain-based data management. If so, since data on the uptake of cryptocurrencies is already available, this analysis will provide information on the realistic scope of such an application. The research showed that there is no significant difference in the technology required for the two applications. The data clearly shows that, overall, there are 4.6 billion people who have the tools to use them. In addition, there is evidence that cryptocurrency penetration is weakly correlated with GDP or banking system development. In other words, if other conditions are right (e.g., the interest of producers), the availability of tools and knowledge should not be a barrier to uptake. Neither is the economic performance of a country or the development of its banking system. It is therefore concluded that, based on the aspects examined in this research, blockchain technology can be applied on a large scale worldwide.

Open Access: Yes

DOI: 10.3303/CET23107087

Characteristics of community supported agriculture in the western transdanubia region

Károly Kacz Judit Hegyi Nóra Gombköto

Publication Name: Deturope

Publication Date: 2019-01-01

Volume: 11

Issue: 1

Page Range: 42-54

Description:

Both industrialization of agriculture and globalization of food trade have begun in the 20th century. Consumer habits have also undergone major changes in line with altered processes in the structure of food trade initiating merits as well as drawbacks. For instance, currently small-scale agriculture or local product supporting consumption is increasingly forced to play a marginal role all over the world. Small farmers are underrepresented in most traded venue, while production is shifting towards bigger market participants. Locally, this means that the volume of production, labour requirements and diversity of products will be reduced, consequently local characteristics will slowly disappear. As an essential requirement for such production the traditional knowledge will not be able to be passed down to forthcoming generations. As a result of a survey, a problem and an objective tree of community supported agriculture was created. These problem/target trees were constructed after an analysis of CSA through a scrutiny of several farmer's organization and individual consumers in the Western Transdanubia region of Hungary. Followed by the evaluation of data the most influential factor, the basic problem was determined, as a consequence of which the long-term, strategic objective in terms of the market power of CSA organizations has been set forth.

Open Access: Yes

DOI: 10.32725/det.2019.003

The Role of Financial Performance and Sustainability Reporting in the Competitiveness of Hungarian Agricultural Enterprises

Károly Kacz Szabolcs Troján Judit Hegyi Éva Szalka Judit Makkos-Káldi

Publication Name: Chemical Engineering Transactions

Publication Date: 2025-01-01

Volume: 121

Issue: Unknown

Page Range: 49-54

Description:

The agricultural sector faces numerous challenges and opportunities that influence farmers’ stability and competitiveness, while enterprises are increasingly required to report on their efforts to promote environmental sustainability. In Hungary, sustainability reporting is regulated by law. The relevant requirements entered into force on 1 January 2024 and will be gradually extended to an increasing number of companies. This study examines the economic and financial performance of a sample of Hungarian agricultural enterprises between 2019 and 2023, with particular emphasis on the rate of sustainable development. Financial indicators were employed to evaluate the performance of the enterprises, while sustainable growth was assessed using the five-step DuPont model. The application of this methodology supports improvements in cost-efficiency, asset optimisation, and the mitigation of financial risks. In addition to the financial analysis, the sustainability reports of large companies subject to the reporting requirements of the Hungarian Accounting Act were also examined using qualitative content analysis. The analysis reveals correlations between indicators of economic and environmental sustainability. The findings of the research contribute to the development of sustainable agricultural policy, support the design of targeted subsidy schemes, and promote the effective implementation of sustainability reporting practices. Although the present study is limited to agricultural enterprises applying double-entry bookkeeping and, for sustainability reporting purposes, includes only the TOP 500 companies, it provides a foundation for a broader sustainability analysis of agricultural enterprises in the future.

Open Access: Yes

DOI: 10.3303/CET25121009

Assessment of Sustainability Reporting from the EU Taxonomy Perspective: Evidence from Food-Processing Companies in the Visegrad Group

Károly Kacz Paweł Chmieliński Alžbeta Kiráľová Andrea Rózsa Martin Mariš Agnieszka Baer-Nawrocka Barbara Wieliczko Nóra Gombköto Ibolya Lámfalusi Goda Pál Judit Hámori Eleonóra Marišová

Publication Name: Studies in Agricultural Economics

Publication Date: 2026-01-01

Volume: 128

Issue: 1

Page Range: 22-34

Description:

This study assesses the sustainability reporting practices of large food-processing companies in the Visegrad countries from the perspective of the EU Taxonomy. The analysis covers the 2021–2023 period, during the transition from the NonFinancial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD). Using a qualitative content analysis and a relative scoring method based on the six environmental objectives and 33 related activities defined in Regulation (EU) 2020/852, we evaluate both the occurrence and quality of disclosed sustainability information. The sample includes large companies representing more than half of sectoral financial indicators in each country. Results show that climate change mitigation receives the highest relative scores across all countries, followed by sustainable water use, biodiversity protection, and circular economy objectives, while climate adaptation and pollution prevention remain less developed. Mandatory reports consistently outperform voluntary ones in quality. The findings highlight both sector-specific sustainability priorities and the significant role of regulatory requirements in enhancing transparency and comparability in sustainability reporting across Central Europe.

Open Access: Yes

DOI: 10.7896/j.3456