COLLINGWOOD has declared an overall net loss of over $2.6million despite posting an operating profit for the 16th year in a row.

The Pies posted an operating profit of $1,551,350, but ended up in the negative after announcing a depreciation and amortisation expense of $4,173,973, which was predominantly attributed to the $30million Glasshouse Community Centre.

The Pies also had to contribute $1,405,904 to the AFL's equalisation pool.

Collingwood president Eddie McGuire said the positive result was due to shrewd management and the loyalty of both their corporate partners and 74,819 members.

"In recent years we have invested heavily in creating world-class facilities for our players, staff, members and supporters," McGuire said.

"We have expanded as a club in 2016 to now be represented by a Super Netball team and an AFLW team.

"We will continue to chase the future but we could not do any of this or continue to honour our philanthropic commitment without such wonderful support."

In 2015, Collingwood recorded an operating profit (before depreciation) of $1,880,927 and a net profit of $848,076.

The Magpies will hold their annual general meeting on Monday February 27 at the Glasshouse Community Centre.