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AG-TEC

Active
Public limited companyfounded 1992active for 33 yearsBoomsesteenweg 174, 2610 Antwerpen, BelgiumKBO/BCE: BE 0449.110.691

Financials · financial year 2025, full format

Annual accounts 2025 filed on 10-06-2026 PDF all 40 filings

Turnover
€43.6m▲ 15.3%
2024 · €37.8m
EBIT margin
6.8%▼ 0.2pp
2024 · 6.9%
Net result
€2.0m▲ 14.2%
2024 · €1.8m
Working capital
€10.4m▲ 24.6%
2024 · €8.3m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 13% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.

Turnover€43.6m 2025 Operating result€3.0m 2025 Net result€2.0m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€9.6m-€10.4m▲ 8.3%€10.6m▲ 1.7%€11.1m▲ 5.3%€14.5m▲ 30.7%€37.3m▲ 157%€37.8m▲ 1.4%€43.6m▲ 15.3%
Operating result€0.5m-€0.5m▼ 12.8%€0.5m▲ 16.5%€0.6m▲ 4.6%€0.8m▲ 37.0%€2.9m▲ 277%€2.6m▼ 9.8%€3.0m▲ 12.7%
Net result€0.3m-€0.2m▼ 14.5%€0.3mwithin the sector's middle half▲ 26.3%€0.3mwithin the sector's middle half▲ 5.5%€0.4mwithin the sector's middle half▲ 50.9%€2.0mabove the sector's middle half▲ 349%€1.8mabove the sector's middle half▼ 11.8%€2.0mabove the sector's middle half▲ 14.2%
EBIT margin5.5%-4.5%▼ 1.1pp5.1%▲ 0.6pp5.1%=5.3%▲ 0.2pp7.8%▲ 2.5pp6.9%▼ 0.9pp6.8%▼ 0.2pp
Equity€3.2m-€3.4m▲ 7.0%€3.7mwithin the sector's middle half▲ 8.3%€3.9mwithin the sector's middle half▲ 7.4%€4.3mwithin the sector's middle half▲ 10.8%€6.3mwithin the sector's middle half▲ 45.5%€8.1mwithin the sector's middle half▲ 27.6%€10.1mabove the sector's middle half▲ 24.7%
Total assets€5.1m-€5.3m▲ 3.3%€5.2mwithin the sector's middle half▼ 0.8%€6.6mwithin the sector's middle half▲ 25.6%€14.6mwithin the sector's middle half▲ 122%€10.9mwithin the sector's middle half▼ 24.9%€11.1mwithin the sector's middle half▲ 1.6%€16.7mwithin the sector's middle half▲ 50.2%
Debt€1.7m-€1.6m▼ 5.7%€1.3m▼ 18.2%€2.4m▲ 83.3%€9.9m▲ 313%€4.2m▼ 56.9%€2.7m▼ 37.3%€6.2m▲ 132%
Working capital€3.4m-€3.6m▲ 7.4%€3.9mabove the sector's middle half▲ 7.0%€4.2mwithin the sector's middle half▲ 7.1%€4.5mabove the sector's middle half▲ 8.7%€6.1mabove the sector's middle half▲ 34.4%€8.3mabove the sector's middle half▲ 36.3%€10.4mabove the sector's middle half▲ 24.6%
Solvency61.8%-64.0%▲ 2.2pp69.9%above the sector's middle half▲ 5.9pp59.7%above the sector's middle half▼ 10.1pp29.8%within the sector's middle half▼ 29.9pp57.8%above the sector's middle half▲ 28.0pp72.6%above the sector's middle half▲ 14.8pp60.3%within the sector's middle half▼ 12.3pp
Current ratio3.02-3.30▲ 0.284.00above the sector's middle half▲ 0.692.76above the sector's middle half▼ 1.241.46within the sector's middle half▼ 1.302.48above the sector's middle half▲ 1.024.15above the sector's middle half▲ 1.672.69above the sector's middle half▼ 1.46
Return on assets (ROA)5.1%-4.2%▼ 0.9pp5.4%within the sector's middle half▲ 1.1pp4.5%within the sector's middle half▼ 0.9pp3.1%within the sector's middle half▼ 1.4pp18.3%above the sector's middle half▲ 15.3pp15.9%above the sector's middle half▼ 2.4pp12.1%above the sector's middle half▼ 3.8pp
Staff (FTE)5.9-6.8▲ 15.3%7below the sector's middle half▲ 2.9%7.8below the sector's middle half▲ 11.4%11.8within the sector's middle half▲ 51.3%20.9within the sector's middle half▲ 77.1%19.5within the sector's middle half▼ 6.7%21.4within the sector's middle half▲ 9.7%
above within below The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.7m
Fixed assets €146,735 ▲ 8.1%
Current assets €16.5m ▲ 50.7%
Equity and liabilities €16.7m
Equity €10.1m ▲ 24.7%
Provisions €441,878 ▲ 17.4%
Debt €6.2m ▲ 132%
Debt's share of the balance-sheet total rises from 24.0% to 37.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€3.0m▲
2024 · €2.8m
Cash flow
€2.1m▲
2024 · €1.9m
Quick ratio
1.14▲
2024 · 0.88
Debt to equity
0.61▲
2024 · 0.33
ROE
20.1%▼
2024 · 21.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€6.2m▲
2024 · €2.6m
Income taxes
€682,950▲
2024 · €597,943
Customer credit
28 days▲
2024 · 18 days
Supplier credit
40 days▲
2024 · 12 days
Staff costs
€2.3m▲
2024 · €2.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as AG-TEC: manufacture of machinery and equipment not elsewhere classified (NACE 28300). They are comparable in size and age: total assets between €15m and €31m, founded between 1981 and 2006.

CompanyFoundedTotal assetsEquityTurnoverNet resultFTEFinancial year
AG-TEC Antwerpen1992€16.7m€10.1m€43.6m€2.0m21.42025
PACKO Zedelgem1999€15.1m€4.2m€27.8m€0.3m282025
DEZEURE Diksmuide1981€16.5m€4.3m€25.5m€0.03m30.72025
BOUMATIC GASCOIGNE MELOTTE Remicourt2004€26.9m€10.1m€60.3m€0.9m472025
COFABEL Kruisem1983€30.5m€1.6m€38.9m-€4.6m69.62025
DEPREZ CONSTRUCT Kortemark1984€21.2m€3.6m€20.3m€1.1m56.32025
BOGAERTS GREENHOUSE LOGISTICS Hoogstraten2006€30.6m€11.6m€52.6m€0.6m82.62025

They were chosen from the 139 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 20,136 companies had the same profile as AG-TEC has now. Two years later, 0.2% had gone bankrupt and 95.0% were still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.2% went bankrupt
4.7% stopped otherwise
95.0% was still going

That fits the bankruptcy probability of AG-TEC itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 20,136 companies, not a prediction for AG-TEC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 75 lines

Source: Annual accounts 2025 (PDF), filed on 10-06-2026.

Balance sheet Code20242025
Assets
Total assets20/58€11.1m€16.7m▲
Fixed assets21/28€0.1m€0.1m▲
Intangible fixed assets21€0.001m€174▼
Tangible fixed assets22/27€0.1m€0.1m▲
Plant, machinery and equipment23€0.1m€0.09m▼
Furniture and vehicles24€0.04m€0.06m▲
Other tangible fixed assets26€0.002m€0.001m▼
Current assets29/58€11.0m€16.5m▲
Stocks and contracts in progress3€8.6m€9.5m▲
Stocks30/36€8.6m€9.5m▲
Goods purchased for resale34€8.6m€9.5m▲
Amounts receivable within one year40/41€1.9m€3.3m▲
Trade receivables40€1.9m€3.3m▲
Other amounts receivable41€0.03m€0.002m▼
Current investments50/53€0.001m€0.04m▲
Other investments51/53€0.001m€0.04m▲
Cash at bank and in hand54/58€0.4m€3.5m▲
Deferred charges and accrued income490/1€0.03m€0.1m▲
Equity and liabilities
Total equity and liabilities10/49€11.1m€16.7m▲
Equity10/15€8.1m€10.1m▲
Contributions10/11€1.3m€1.3m=
Capital10€1.3m€1.3m=
Issued capital100€1.3m€1.3m=
Reserves13€1.7m€2.2m▲
Non-distributable reserves130/1€0.1m€0.1m=
Legal reserve130€0.1m€0.1m=
Tax-exempt reserves132€0.4m€0.8m▲
Distributable reserves133€1.2m€1.2m=
Profit (loss) carried forward14€5.1m€6.7m▲
Provisions and deferred taxes16€0.4m€0.4m▲
Provisions for liabilities and charges160/5€0.4m€0.4m▲
Other liabilities and charges164/5€0.4m€0.4m▲
Amounts payable17/49€2.7m€6.2m▲
Amounts payable within one year42/48€2.6m€6.2m▲
Trade debts44€1.0m€4.0m▲
Suppliers440/4€1.0m€4.0m▲
Advances received on contracts in progress46€0.6m€0.9m▲
Taxes, remuneration and social security45€0.9m€1.2m▲
Taxes450/3€0.5m€0.7m▲
Remuneration and social security454/9€0.4m€0.5m▲
Other amounts payable47/48€0.1m€0.1m=
Accrued charges and deferred income492/3€0.02m€0.02m▲
Income statement Code20242025
Operating income70/76A€38.5m€44.5m▲
Turnover70€37.8m€43.6m▲
Other operating income74€0.7m€0.9m▲
Operating charges60/66A€35.9m€41.6m▲
Goods for resale, raw materials and consumables60€31.7m€36.8m▲
Purchases600/8€32.7m€38.0m▲
Change in stocks: decrease (increase)609-€1.1m-€1.2m▼
Services and other goods61€1.7m€2.0m▲
Remuneration, social security and pensions62€2.1m€2.3m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.08m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.3m€0.3m▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0.01m€0.06m▲
Other operating charges640/8€0.001m€0.01m▲
Operating profit (loss)9901€2.6m€3.0m▲
Financial income75/76B€0.005m€0.02m▲
Recurring financial income75€0.005m€0.02m▲
Income from current assets751€0.005m€0.02m▲
Other financial income752/9€2€23▲
Financial charges65/66B€0.3m€0.3m▲
Recurring financial charges65€0.3m€0.3m▲
Debt charges650€0.01m€0.003m▼
Other financial charges652/9€0.2m€0.3m▲
Profit (loss) for the period before taxes9903€2.4m€2.7m▲
Income taxes67/77€0.6m€0.7m▲
Taxes670/3€0.6m€0.7m▲
Profit (loss) for the period9904€1.8m€2.0m▲
Transfer to tax-exempt reserves689€0.4m€0.4m=
Profit (loss) for the period to be appropriated9905€1.3m€1.6m▲
Appropriation of the result
Profit (loss) to be appropriated9906€5.1m€6.7m▲
Profit (loss) brought forward from the previous period14P€3.8m€5.1m▲
Profit to be distributed694/7€0.02m€0.02m=
Directors or managers695€0.02m€0.02m=
Social balance sheet
Average headcount (FTE)908719.521.4▲

The notes to these accounts have 50 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20182019202020212022202320242025Change
Operating income70/76A---€11.7m€15.1m€38.0m€38.5m€44.5m▲ 15.6%
Turnover70€9.6m€10.4m€10.6m€11.1m€14.5m€37.3m€37.8m€43.6m▲ 15.3%
Other operating income74---€0.5m€0.6m€0.6m€0.7m€0.9m▲ 30.1%
Operating charges60/66A---€11.1m€14.4m€35.0m€35.9m€41.6m▲ 15.8%
Goods for resale, raw materials and consumables60---€9.6m€12.2m€30.8m€31.7m€36.8m▲ 16.2%
Purchases600/8---€9.3m€14.5m€35.0m€32.7m€38.0m▲ 16.1%
Change in stocks: decrease (increase)609---€0.3m-€2.4m-€4.2m-€1.1m-€1.2m▼ 11.9%
Services and other goods61---€1.0m€1.0m€1.8m€1.7m€2.0m▲ 20.5%
Remuneration, social security and pensions62---€0.6m€1.1m€2.1m€2.1m€2.3m▲ 12.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.02m€0.02m€0.02m€0.01m€0.02m€0.09m€0.2m€0.08m▼ 56.8%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€0.02m-€0.03m€0.3m€0.3m€0.3m▼ 8.1%
Provisions for liabilities and charges: additions (uses and reversals)635/8----€0.02m€0.1m€0.001m€0.01m€0.06m▲ 411%
Other operating charges640/8---€0.004m€0.001m€0.001m€0.001m€0.01m▲ 690%
Operating profit (loss)9901€0.5m€0.5m€0.5m€0.6m€0.8m€2.9m€2.6m€3.0m▲ 12.7%
Financial income75/76B---€0.001m€0.001m€0.003m€0.005m€0.02m▲ 371%
Recurring financial income75€0.002m€0.001m€310€0.001m€0.001m€0.003m€0.005m€0.02m▲ 371%
Income from current assets751-----€0.003m€0.005m€0.02m▲ 371%
Other financial income752/9---€0.001m€0.001m€0€2€23▲ 858%
Financial charges65/66B---€0.2m€0.2m€0.2m€0.3m€0.3m▲ 5.9%
Recurring financial charges65€0.1m€0.2m€0.2m€0.2m€0.2m€0.2m€0.3m€0.3m▲ 5.9%
Debt charges650€82€0.001m-€0.003m€0.006m€0.01m€0.01m€0.003m▼ 71.6%
Other financial charges652/9---€0.2m€0.2m€0.2m€0.2m€0.3m▲ 9.5%
Profit (loss) for the period before taxes9903€0.4m€0.3m€0.4m€0.4m€0.6m€2.7m€2.4m€2.7m▲ 14.2%
Income taxes67/77€0.1m€0.09m€0.1m€0.1m€0.2m€0.7m€0.6m€0.7m▲ 14.2%
Taxes670/3---€0.1m€0.2m€0.7m€0.6m€0.7m▲ 14.2%
Profit (loss) for the period9904€0.3m€0.2m€0.3m€0.3m€0.4m€2.0m€1.8m€2.0m▲ 14.2%
Transfer to tax-exempt reserves689------€0.4m€0.4m=
Profit (loss) for the period to be appropriated9905€0.3m€0.2m€0.3m€0.3m€0.4m€2.0m€1.3m€1.6m▲ 18.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€5.1m€5.3m€5.2m€6.6m€14.6m€10.9m€11.1m€16.7m▲ 50.2%
Fixed assets21/28€0.03m€0.04m€0.02m€0.01m€0.2m€0.7m€0.1m€0.1m▲ 8.1%
Intangible fixed assets21----€0.003m€0.002m€0.001m€174▼ 85.7%
Tangible fixed assets22/27€0.03m€0.04m€0.02m€0.01m€0.2m€0.7m€0.1m€0.1m▲ 9.0%
Plant, machinery and equipment23---€0.001m€0.1m€0.6m€0.1m€0.09m▼ 7.3%
Furniture and vehicles24---€0.009m€0.04m€0.05m€0.04m€0.06m▲ 56.7%
Other tangible fixed assets26----€0.004m€0.003m€0.002m€0.001m▼ 43.1%
Current assets29/58€5.1m€5.2m€5.2m€6.6m€14.4m€10.2m€11.0m€16.5m▲ 50.7%
Stocks and contracts in progress3€3.4m€2.3m€1.9m€1.6m€4.0m€7.9m€8.6m€9.5m▲ 10.0%
Stocks30/36---€1.6m€4.0m€7.9m€8.6m€9.5m▲ 10.0%
Goods purchased for resale34---€1.6m€4.0m€7.9m€8.6m€9.5m▲ 10.0%
Amounts receivable within one year40/41€1.3m€1.4m€0.5m€1.4m€6.9m€2.0m€1.9m€3.3m▲ 72.8%
Trade receivables40---€1.3m€6.7m€2.0m€1.9m€3.3m▲ 75.6%
Other amounts receivable41---€0.03m€0.1m€0.002m€0.03m€0.002m▼ 94.0%
Current investments50/53---€0.1m€0.1m€31€0.001m€0.04m▲ 76×
Other investments51/53---€0.1m€0.1m€31€0.001m€0.04m▲ 76×
Cash at bank and in hand54/58€0.4m€1.5m€2.8m€3.4m€3.4m€0.2m€0.4m€3.5m▲ 852%
Deferred charges and accrued income490/1---€0.008m€0.03m€0.09m€0.03m€0.1m▲ 357%
Equity and liabilities
Total equity and liabilities10/49€5.1m€5.3m€5.2m€6.6m€14.6m€10.9m€11.1m€16.7m▲ 50.2%
Equity10/15€3.2m€3.4m€3.7m€3.9m€4.3m€6.3m€8.1m€10.1m▲ 24.7%
Contributions10/11€1.3m€1.3m€1.3m€1.3m€1.3m€1.3m€1.3m€1.3m=
Capital10---€1.3m€1.3m€1.3m€1.3m€1.3m=
Issued capital100---€1.3m€1.3m€1.3m€1.3m€1.3m=
Reserves13€1.3m€1.3m€1.3m€1.3m€1.3m€1.3m€1.7m€2.2m▲ 24.2%
Non-distributable reserves130/1---€0.1m€0.1m€0.1m€0.1m€0.1m=
Legal reserve130---€0.1m€0.1m€0.1m€0.1m€0.1m=
Tax-exempt reserves132------€0.4m€0.8m▲ 100%
Distributable reserves133---€1.2m€1.2m€1.2m€1.2m€1.2m=
Profit (loss) carried forward14€0.6m€0.8m€1.1m€1.4m€1.8m€3.8m€5.1m€6.7m▲ 31.0%
Provisions and deferred taxes16€0.3m€0.3m€0.3m€0.3m€0.4m€0.4m€0.4m€0.4m▲ 17.4%
Provisions for liabilities and charges160/5---€0.3m€0.4m€0.4m€0.4m€0.4m▲ 17.4%
Other liabilities and charges164/5---€0.3m€0.4m€0.4m€0.4m€0.4m▲ 17.4%
Amounts payable17/49€1.7m€1.6m€1.3m€2.4m€9.9m€4.2m€2.7m€6.2m▲ 132%
Amounts payable within one year42/48€1.7m€1.6m€1.3m€2.4m€9.8m€4.1m€2.6m€6.2m▲ 133%
Trade debts44€1.3m€0.6m€0.8m€1.4m€5.2m€2.9m€1.0m€4.0m▲ 289%
Suppliers440/4---€1.4m€5.2m€2.9m€1.0m€4.0m▲ 289%
Advances received on contracts in progress46---€0.6m€3.4m€0.3m€0.6m€0.9m▲ 39.0%
Taxes, remuneration and social security45---€0.4m€1.2m€1.0m€0.9m€1.2m▲ 33.9%
Taxes450/3---€0.3m€0.9m€0.6m€0.5m€0.7m▲ 41.5%
Remuneration and social security454/9---€0.08m€0.3m€0.4m€0.4m€0.5m▲ 23.5%
Other amounts payable47/48---€0.02m€0.02m€0.03m€0.1m€0.1m=
Accrued charges and deferred income492/3---€0.01m€0.02m€0.1m€0.02m€0.02m▲ 5.0%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.3m€0.2m€0.3m€0.3m€0.4m€2.0m€1.8m€2.0m▲ 14.2%
+ Depreciation and write-downs630€0.02m€0.02m€0.02m€0.01m€0.02m€0.09m€0.2m€0.08m▼ 56.8%
Operating cash flow (approximation)€0.3m€0.2m€0.3m€0.3m€0.5m€2.1m€1.9m€2.1m▲ 7.8%
Investment in fixed assets (approximation)--€0.04m-€0.002m-€0.001m-€0.2m-€0.6m€0.4m-€0.09m-
Change in cash-€1.1m€1.4m€0.6m-€0.08m-€3.1m€0.1m€3.1m▲ 22×

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 40 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 10-06-2026 2026-00150405 PDF
31-12-2024 full format 04-06-2025 2025-00118605 PDF
31-12-2023 full format 27-05-2024 2024-00097044 PDF
31-12-2022 full format 16-06-2023 2023-00136588 PDF
31-12-2021 full format 16-06-2022 2022-20070862 PDF
31-12-2020 full format 21-05-2021 2021-14800519 PDF
31-12-2019 full format 05-08-2020 2020-40200198 PDF
31-12-2018 full format 03-05-2019 2019-12400205 PDF
31-12-2017 full format 27-06-2018 2018-24900409 PDF
31-12-2016 full format 04-05-2017 2017-11300508 PDF

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