A.G.Mat: 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.
A.G.Mat
Largest movements
- Cash +€141,433
up €141,433 (+285%), from €49,622 to €191,055
mainly Trade debts (+€201,611) and Net result for the year (+€137,666)
- Tangible fixed assets +€125,655
up €125,655 (+163%), from €76,928 to €202,583
of which Plant, machinery and equipment: +€107,889
- Stocks and contracts +€104,886
up €104,886 (+24.3%), from €431,800 to €536,686
of which Stocks: +€65,486
- Intangible fixed assets +€15,534
up €15,534 (+13.7%), from €113,032 to €128,566
- Trade debts +€201,611
up €201,611 (+277%), from €72,665 to €274,276
- Profit (loss) carried forward +€137,666
up €137,666 (+58.4%), from €235,818 to €373,485
- Debts after one year +€57,165
up €57,165 (+38.1%), from €150,066 to €207,231
- Current portion of long-term debt +€25,500
up €25,500 (+44.2%), from €57,663 to €83,162
- Accrued charges and deferred income -€20,915
down €20,915 (-66.2%), from €31,599 to €10,683
- Gross operating margin +€106,997
up €106,997 (+15.5%), from €692,074 to €799,071
- Staff costs +€23,422
up €23,422 (+4.5%), from €524,230 to €547,652
- Depreciation +€20,312
up €20,312 (+50.2%), from €40,424 to €60,736
- Taxes +€11,439
up €11,439 (+70.7%), from €16,184 to €27,623
- Write-downs -€10,703
down €10,703 (-91.6%), from €11,684 to €980
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 | €904,523 | €1,306,602 | +€402,078 | +44.5% |
| Fixed assets | 21/28 | €194,743 | €335,972 | +€141,229 | +72.5% |
| Intangible fixed assets | 21 | €113,032 | €128,566 | +€15,534 | +13.7% |
| Tangible fixed assets | 22/27 | €76,928 | €202,583 | +€125,655 | +163% |
| Plant, machinery and equipment | 23 | €27,445 | €135,333 | +€107,889 | +393% |
| Furniture and vehicles | 24 | €49,483 | €67,249 | +€17,766 | +35.9% |
| Financial fixed assets | 28 | €4,783 | €4,823 | +€40 | +0.8% |
| Current assets | 29/58 | €709,781 | €970,630 | +€260,850 | +36.8% |
| Stocks and contracts in progress | 3 | €431,800 | €536,686 | +€104,886 | +24.3% |
| Stocks | 30/36 | €355,200 | €420,686 | +€65,486 | +18.4% |
| Contracts in progress | 37 | €76,600 | €116,000 | +€39,400 | +51.4% |
| Amounts receivable within one year | 40/41 | €207,092 | €218,310 | +€11,219 | +5.4% |
| Trade receivables | 40 | €164,311 | €133,265 | -€31,046 | -18.9% |
| Other amounts receivable | 41 | €42,781 | €85,046 | +€42,265 | +98.8% |
| Cash at bank and in hand | 54/58 | €49,622 | €191,055 | +€141,433 | +285% |
| Deferred charges and accrued income | 490/1 | €21,267 | €24,579 | +€3,312 | +15.6% |
| Total equity and liabilities | 10/49 | €904,523 | €1,306,602 | +€402,078 | +44.5% |
| Equity | 10/15 | €275,818 | €413,485 | +€137,666 | +49.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235,818 | €373,485 | +€137,666 | +58.4% |
| Amounts payable | 17/49 | €628,705 | €893,117 | +€264,412 | +42.1% |
| Amounts payable after more than one year | 17 | €150,066 | €207,231 | +€57,165 | +38.1% |
| Financial debts | 170/4 | €150,066 | €207,231 | +€57,165 | +38.1% |
| Amounts payable within one year | 42/48 | €447,040 | €675,203 | +€228,163 | +51.0% |
| Current portion of amounts payable after more than one year | 42 | €57,663 | €83,162 | +€25,500 | +44.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €72,665 | €274,276 | +€201,611 | +277% |
| Suppliers | 440/4 | €72,665 | €274,276 | +€201,611 | +277% |
| Advances received on contracts in progress | 46 | €235,903 | €225,455 | -€10,448 | -4.4% |
| Taxes, remuneration and social security | 45 | €80,810 | €92,310 | +€11,500 | +14.2% |
| Taxes | 450/3 | €11,835 | €14,604 | +€2,769 | +23.4% |
| Remuneration and social security | 454/9 | €68,976 | €77,706 | +€8,730 | +12.7% |
| Accrued charges and deferred income | 492/3 | €31,599 | €10,683 | -€20,915 | -66.2% |
| Non-recurring operating income | 76A | €509 | - | -€509 | |
| Remuneration, social security and pensions | 62 | €524,230 | €547,652 | +€23,422 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,424 | €60,736 | +€20,312 | +50.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,684 | €980 | -€10,703 | -91.6% |
| Other operating charges | 640/8 | €1,854 | €3,671 | +€1,817 | +98.0% |
| Gross operating margin | 9900 | €692,074 | €799,071 | +€106,997 | +15.5% |
| Operating profit (loss) | 9901 | €113,882 | €186,031 | +€72,149 | +63.4% |
| Financial income | 75/76B | €335 | €295 | -€40 | -12.0% |
| Recurring financial income | 75 | €335 | €295 | -€40 | -12.0% |
| Financial charges | 65/66B | €11,610 | €21,037 | +€9,428 | +81.2% |
| Recurring financial charges | 65 | €11,610 | €21,037 | +€9,428 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €102,608 | €165,289 | +€62,681 | +61.1% |
| Income taxes | 67/77 | €16,184 | €27,623 | +€11,439 | +70.7% |
| Profit (loss) for the period | 9904 | €86,424 | €137,666 | +€51,242 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €86,424 | €137,666 | +€51,242 | +59.3% |
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 21 October 2026 via checked.be.