A & C SYSTEMS: 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
A & C SYSTEMS
NACE 46.643, Wholesale of electrical equipment, including installation materials
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7.4m
2024 · €5.5m+€1.9m
Equity
€21.1m
2024 · €18.6m+€2.4m
Cash
€301,927
2024 · €157,917+€144,010
Balance sheet total
€62.1m
2024 · €51.8m+€10.3m
Largest movements
Assets
- Receivables within one year +€8.9m
up €8.9m (+56.7%), from €15.8m to €24.7m
of which Trade receivables: +€9.4m
- Stocks and contracts +€1.2m
up €1.2m (+4.6%), from €25.1m to €26.2m
Equity and liabilities
- Other debts +€6.7m
up €6.7m (+173.7%), from €3.9m to €10.6m
- Short-term financial debts +€4.7m
new in 2025: €4.7m
- Trade debts -€4.1m
down €4.1m (-25.9%), from €15.8m to €11.7m
- Profit (loss) carried forward +€2.4m
up €2.4m (+27.6%), from €8.8m to €11.3m
- Tax, wage and social debts +€1.7m
up €1.7m (+64.6%), from €2.6m to €4.3m
of which Taxes: +€1.6m
Income statement
- Turnover +€69.9m
up €69.9m (+31.0%), from €225.2m to €295.1m
- Goods and materials +€65.8m
up €65.8m (+31.7%), from €207.4m to €273.2m
of which Purchases: +€57.9m
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
€5.5m
Turnover
+€69.9m
Other operating income
-€274,316
Goods and materials
-€65.8m
Services and other goods
-€114,001
Staff costs
-€642,605
Depreciation
-€14,643
Write-downs
+€220,999
Other operating charges
-€123,930
Other operating items
-€9,164
Financial income
+€233,224
Financial charges
-€814,148
Taxes
-€599,557
Result 2025
€7.4m
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
+€1.7m
Investment
-€594,881
Financing
-€963,081
Cash 2024
€157,917
From operations (derived)
+€1.7m
Net result for the year
+€7.4m
Depreciation
+€251,749
Stocks and contracts
-€1.2m
Receivables within one year
-€8.9m
Deferred charges and accrued income
+€262,172
Trade debts
-€4.1m
Tax, wage and social debts
+€1.7m
Other debts
+€6.7m
Accrued charges and deferred income
-€454,830
Investment (derived)
-€594,881
Investment in fixed assets (net)
-€594,881
Financing
-€963,081
Debts after one year
-€340,216
Current portion of long-term debt
-€362,525
Short-term financial debts
+€4.7m
Contributions, distributions and other
-€5.0m
Cash 2025
€301,927
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,798,590 | €62,119,418 | +€10.3m | +19.9% |
| Fixed assets | 21/28 | €8,424,455 | €8,767,588 | +€343,132 | +4.1% |
| Intangible fixed assets | 21 | €6,978 | €24,688 | +€17,710 | +253.8% |
| Tangible fixed assets | 22/27 | €1,203,916 | €1,529,338 | +€325,422 | +27.0% |
| Plant, machinery and equipment | 23 | €106,204 | €353,529 | +€247,325 | +232.9% |
| Furniture and vehicles | 24 | €213,105 | €343,170 | +€130,065 | +61.0% |
| Other tangible fixed assets | 26 | €440,860 | €388,893 | -€51,968 | -11.8% |
| Assets under construction and advance payments | 27 | €443,747 | €443,747 | = | 0.0% |
| Financial fixed assets | 28 | €7,213,562 | €7,213,562 | = | 0.0% |
| Affiliated companies | 280/1 | €6,988,562 | €6,988,562 | = | 0.0% |
| Participating interests | 280 | €6,988,562 | €6,988,562 | = | 0.0% |
| Other financial fixed assets | 284/8 | €225,000 | €225,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €225,000 | €225,000 | = | 0.0% |
| Current assets | 29/58 | €43,374,135 | €53,351,830 | +€10.0m | +23.0% |
| Stocks and contracts in progress | 3 | €25,080,453 | €26,238,217 | +€1.2m | +4.6% |
| Stocks | 30/36 | €25,080,453 | €26,238,217 | +€1.2m | +4.6% |
| Goods purchased for resale | 34 | €25,080,453 | €26,238,217 | +€1.2m | +4.6% |
| Amounts receivable within one year | 40/41 | €15,773,144 | €24,711,239 | +€8.9m | +56.7% |
| Trade receivables | 40 | €14,712,442 | €24,160,821 | +€9.4m | +64.2% |
| Other amounts receivable | 41 | €1,060,703 | €550,418 | -€510,285 | -48.1% |
| Cash at bank and in hand | 54/58 | €157,917 | €301,927 | +€144,010 | +91.2% |
| Deferred charges and accrued income | 490/1 | €2,362,620 | €2,100,448 | -€262,172 | -11.1% |
| Total equity and liabilities | 10/49 | €51,798,590 | €62,119,418 | +€10.3m | +19.9% |
| Equity | 10/15 | €18,631,867 | €21,067,172 | +€2.4m | +13.1% |
| Contributions | 10/11 | €5,864,000 | €5,864,000 | = | 0.0% |
| Capital | 10 | €5,864,000 | €5,864,000 | = | 0.0% |
| Issued capital | 100 | €5,864,000 | €5,864,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,470,717 | €1,470,717 | = | 0.0% |
| Reserves | 13 | €2,469,123 | €2,469,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €586,400 | €586,400 | = | 0.0% |
| Legal reserve | 130 | €586,400 | €586,400 | = | 0.0% |
| Distributable reserves | 133 | €1,882,723 | €1,882,723 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,827,585 | €11,263,128 | +€2.4m | +27.6% |
| Investment grants | 15 | €442 | €204 | -€238 | -53.8% |
| Amounts payable | 17/49 | €33,166,723 | €41,052,246 | +€7.9m | +23.8% |
| Amounts payable after more than one year | 17 | €2,901,366 | €2,561,150 | -€340,216 | -11.7% |
| Financial debts | 170/4 | €376,366 | €36,150 | -€340,216 | -90.4% |
| Credit institutions | 173 | €376,366 | €36,150 | -€340,216 | -90.4% |
| Other amounts payable | 178/9 | €2,525,000 | €2,525,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,015,742 | €31,696,311 | +€8.7m | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €748,457 | €385,932 | -€362,525 | -48.4% |
| Financial debts | 43 | - | €4,717,137 | +€4.7m | |
| Credit institutions | 430/8 | - | €4,717,137 | +€4.7m | |
| Trade debts | 44 | €15,768,749 | €11,682,310 | -€4.1m | -25.9% |
| Suppliers | 440/4 | €15,768,749 | €11,682,310 | -€4.1m | -25.9% |
| Taxes, remuneration and social security | 45 | €2,633,806 | €4,334,463 | +€1.7m | +64.6% |
| Taxes | 450/3 | €1,897,283 | €3,469,907 | +€1.6m | +82.9% |
| Remuneration and social security | 454/9 | €736,523 | €864,556 | +€128,033 | +17.4% |
| Other amounts payable | 47/48 | €3,864,730 | €10,576,469 | +€6.7m | +173.7% |
| Accrued charges and deferred income | 492/3 | €7,249,615 | €6,794,785 | -€454,830 | -6.3% |
| Operating income | 70/76A | €228,769,931 | €298,352,194 | +€69.6m | +30.4% |
| Turnover | 70 | €225,207,384 | €295,068,096 | +€69.9m | +31.0% |
| Other operating income | 74 | €3,558,415 | €3,284,099 | -€274,316 | -7.7% |
| Non-recurring operating income | 76A | €4,132 | - | -€4,132 | |
| Operating charges | 60/66A | €224,660,179 | €291,147,059 | +€66.5m | +29.6% |
| Goods for resale, raw materials and consumables | 60 | €207,376,581 | €273,184,249 | +€65.8m | +31.7% |
| Purchases | 600/8 | €216,464,507 | €274,325,041 | +€57.9m | +26.7% |
| Change in stocks: decrease (increase) | 609 | -€9,087,926 | -€1,140,792 | +€7.9m | +87.4% |
| Services and other goods | 61 | €11,067,300 | €11,181,302 | +€114,001 | +1.0% |
| Remuneration, social security and pensions | 62 | €5,592,323 | €6,234,928 | +€642,605 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,106 | €251,749 | +€14,643 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €204,027 | -€16,972 | -€220,999 | |
| Other operating charges | 640/8 | €182,842 | €306,772 | +€123,930 | +67.8% |
| Non-recurring operating charges | 66A | - | €5,032 | +€5,032 | |
| Operating profit (loss) | 9901 | €4,109,752 | €7,205,135 | +€3.1m | +75.3% |
| Financial income | 75/76B | €3,431,210 | €3,664,434 | +€233,224 | +6.8% |
| Recurring financial income | 75 | €3,431,210 | €3,664,434 | +€233,224 | +6.8% |
| Income from financial fixed assets | 750 | €2,840,776 | €3,595,372 | +€754,596 | +26.6% |
| Income from current assets | 751 | €568,038 | €52,542 | -€515,497 | -90.8% |
| Other financial income | 752/9 | €22,396 | €16,520 | -€5,876 | -26.2% |
| Financial charges | 65/66B | €1,175,292 | €1,989,440 | +€814,148 | +69.3% |
| Recurring financial charges | 65 | €1,175,292 | €1,989,440 | +€814,148 | +69.3% |
| Debt charges | 650 | €1,069,510 | €1,339,244 | +€269,734 | +25.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€68,500 | €522,280 | +€590,780 | |
| Other financial charges | 652/9 | €174,282 | €127,917 | -€46,365 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €6,365,671 | €8,880,129 | +€2.5m | +39.5% |
| Income taxes | 67/77 | €867,790 | €1,467,347 | +€599,557 | +69.1% |
| Taxes | 670/3 | €867,790 | €1,467,347 | +€599,557 | +69.1% |
| Profit (loss) for the period | 9904 | €5,497,881 | €7,412,782 | +€1.9m | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,497,881 | €7,412,782 | +€1.9m | +34.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.