ADVANCED COATING: 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
ADVANCED COATING
NACE 25.510, Coating of metals
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€71,006
31-12-2024 · €61,859+€9,148
Equity
€1.5m
31-12-2024 · €1.4m+€93,970
Cash
€157,778
31-12-2024 · €103,515+€54,263
Balance sheet total
€3.9m
31-12-2024 · €3.2m+€700,162
Largest movements
Assets
- Tangible fixed assets +€483,531
up €483,531 (+26.5%), from €1.8m to €2.3m
of which Land and buildings: +€254,809
- Receivables within one year +€178,886
up €178,886 (+33.0%), from €541,283 to €720,170
of which Trade receivables: +€182,464
- Cash +€54,263
up €54,263 (+52.4%), from €103,515 to €157,778
mainly Debts after one year (+€498,408) and Depreciation (+€232,958)
Equity and liabilities
- Debts after one year +€498,408
up €498,408 (+252.8%), from €197,118 to €695,526
- Trade debts +€88,016
up €88,016 (+25.3%), from €347,235 to €435,251
- Profit (loss) carried forward +€68,876
up €68,876 (+10.7%), from -€644,301 to -€575,425
Income statement
- Gross operating margin +€166,691
up €166,691 (+12.0%), from €1.4m to €1.6m
- Staff costs +€102,819
up €102,819 (+10.5%), from €981,658 to €1.1m
- Depreciation +€60,684
up €60,684 (+35.2%), from €172,273 to €232,958
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024
€61,859
Gross operating margin
+€166,691
Staff costs
-€102,819
Depreciation
-€60,684
Write-downs
+€885
Provisions
+€1,578
Other operating charges
-€13,398
Financial income
+€6,625
Financial charges
+€10,306
Taxes
-€36
Result 31-12-2025
€71,006
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€238,019
Investment
-€716,333
Financing
+€532,577
Cash 31-12-2024
€103,515
From operations (derived)
+€238,019
Net result for the year
+€71,006
Depreciation
+€232,958
Receivables after one year
+€35,183
Stocks and contracts
-€21,853
Receivables within one year
-€178,886
Deferred charges and accrued income
+€3,031
Smaller working-capital items
+€663
Trade debts
+€88,016
Tax, wage and social debts
+€16,569
Accrued charges and deferred income
-€8,669
Investment (derived)
-€716,333
Investment in fixed assets (net)
-€716,333
Financing
+€532,577
Debts after one year
+€498,408
Current portion of long-term debt
+€11,205
Contributions, distributions and other
+€22,964
Cash 31-12-2025
€157,778
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,197,320 | €3,897,482 | +€700,162 | +21.9% |
| Fixed assets | 21/28 | €1,825,229 | €2,308,604 | +€483,376 | +26.5% |
| Intangible fixed assets | 21 | €382 | €226 | -€155 | -40.7% |
| Tangible fixed assets | 22/27 | €1,824,099 | €2,307,630 | +€483,531 | +26.5% |
| Land and buildings | 22 | €1,006,521 | €1,261,330 | +€254,809 | +25.3% |
| Plant, machinery and equipment | 23 | €808,001 | €1,022,488 | +€214,487 | +26.5% |
| Furniture and vehicles | 24 | €9,577 | €23,812 | +€14,235 | +148.6% |
| Financial fixed assets | 28 | €747 | €747 | = | 0.0% |
| Current assets | 29/58 | €1,372,091 | €1,588,878 | +€216,787 | +15.8% |
| Amounts receivable after more than one year | 29 | €45,000 | €9,817 | -€35,183 | -78.2% |
| Trade receivables | 290 | €45,000 | €9,817 | -€35,183 | -78.2% |
| Stocks and contracts in progress | 3 | €657,986 | €679,838 | +€21,853 | +3.3% |
| Stocks | 30/36 | €657,986 | €679,838 | +€21,853 | +3.3% |
| Amounts receivable within one year | 40/41 | €541,283 | €720,170 | +€178,886 | +33.0% |
| Trade receivables | 40 | €499,485 | €681,949 | +€182,464 | +36.5% |
| Other amounts receivable | 41 | €41,798 | €38,221 | -€3,578 | -8.6% |
| Cash at bank and in hand | 54/58 | €103,515 | €157,778 | +€54,263 | +52.4% |
| Deferred charges and accrued income | 490/1 | €24,307 | €21,276 | -€3,031 | -12.5% |
| Total equity and liabilities | 10/49 | €3,197,320 | €3,897,482 | +€700,162 | +21.9% |
| Equity | 10/15 | €1,384,346 | €1,478,317 | +€93,970 | +6.8% |
| Contributions | 10/11 | €1,950,000 | €1,950,000 | = | 0.0% |
| Capital | 10 | €1,950,000 | €1,950,000 | = | 0.0% |
| Issued capital | 100 | €1,950,000 | €1,950,000 | = | 0.0% |
| Reserves | 13 | €78,647 | €78,647 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,647 | €43,647 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€644,301 | -€575,425 | +€68,876 | +10.7% |
| Investment grants | 15 | - | €25,094 | +€25,094 | |
| Provisions and deferred taxes | 16 | €17,666 | €17,921 | +€255 | +1.4% |
| Provisions for liabilities and charges | 160/5 | €17,666 | €17,921 | +€255 | +1.4% |
| Other liabilities and charges | 164/5 | €17,666 | €17,921 | +€255 | +1.4% |
| Amounts payable | 17/49 | €1,795,308 | €2,401,244 | +€605,937 | +33.8% |
| Amounts payable after more than one year | 17 | €197,118 | €695,526 | +€498,408 | +252.8% |
| Financial debts | 170/4 | €197,118 | €695,526 | +€498,408 | +252.8% |
| Amounts payable within one year | 42/48 | €1,581,186 | €1,697,384 | +€116,198 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €126,604 | €137,808 | +€11,205 | +8.9% |
| Financial debts | 43 | €970,000 | €970,000 | = | 0.0% |
| Credit institutions | 430/8 | €970,000 | €970,000 | = | 0.0% |
| Trade debts | 44 | €347,235 | €435,251 | +€88,016 | +25.3% |
| Suppliers | 440/4 | €347,235 | €435,251 | +€88,016 | +25.3% |
| Taxes, remuneration and social security | 45 | €135,492 | €152,061 | +€16,569 | +12.2% |
| Taxes | 450/3 | €28,401 | €3,882 | -€24,519 | -86.3% |
| Remuneration and social security | 454/9 | €107,091 | €148,179 | +€41,088 | +38.4% |
| Other amounts payable | 47/48 | €1,856 | €2,264 | +€408 | +22.0% |
| Accrued charges and deferred income | 492/3 | €17,004 | €8,335 | -€8,669 | -51.0% |
| Remuneration, social security and pensions | 62 | €981,658 | €1,084,477 | +€102,819 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,273 | €232,958 | +€60,684 | +35.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€885 | -€885 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,833 | €255 | -€1,578 | -86.1% |
| Other operating charges | 640/8 | €52,132 | €65,530 | +€13,398 | +25.7% |
| Gross operating margin | 9900 | €1,384,833 | €1,551,524 | +€166,691 | +12.0% |
| Operating profit (loss) | 9901 | €176,937 | €169,189 | -€7,748 | -4.4% |
| Financial income | 75/76B | €7,830 | €14,455 | +€6,625 | +84.6% |
| Recurring financial income | 75 | €7,830 | €14,455 | +€6,625 | +84.6% |
| Financial charges | 65/66B | €121,944 | €111,638 | -€10,306 | -8.5% |
| Recurring financial charges | 65 | €121,944 | €111,638 | -€10,306 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €62,823 | €72,006 | +€9,183 | +14.6% |
| Income taxes | 67/77 | €964 | €1,000 | +€36 | +3.7% |
| Profit (loss) for the period | 9904 | €61,859 | €71,006 | +€9,148 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €61,859 | €71,006 | +€9,148 | +14.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.