AG HEATING: what changed
AG HEATING
Largest movements
- Tangible fixed assets +€445,474
up €445,474 (+1,490%), from €29,899 to €475,374
of which Land and buildings: +€421,294
- Receivables within one year +€188,047
up €188,047 (+119%), from €157,546 to €345,593
of which Other amounts receivable: +€129,619
- Cash -€35,755
down €35,755 (-23.8%), from €150,237 to €114,483
mainly Investment in fixed assets (net) (-€464,730) and Receivables within one year (-€188,047)
- Debts after one year +€426,746
up €426,746 (+128,426%), from €332 to €427,078
- Trade debts +€71,134
up €71,134 (+152%), from €46,846 to €117,980
- Current portion of long-term debt +€42,463
up €42,463 (+1,019%), from €4,168 to €46,630
- Profit (loss) carried forward +€35,912
up €35,912 (+102%), from €35,350 to €71,263
- Reserves +€25,000
up €25,000 (+11.6%), from €215,000 to €240,000
- Staff costs +€71,977
up €71,977 (+118%), from €60,840 to €132,816
- Gross operating margin -€68,622
down €68,622 (-19.3%), from €356,310 to €287,688
- Taxes -€58,051
down €58,051 (-63.6%), from €91,312 to €33,261
- Other operating charges +€14,387
up €14,387 (+145%), from €9,936 to €24,323
- Depreciation +€12,699
up €12,699 (+194%), from €6,556 to €19,255
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €444,209 | €1,047,116 | +€602,907 | +136% |
| Fixed assets | 21/28 | €84,989 | €530,464 | +€445,474 | +524% |
| Tangible fixed assets | 22/27 | €29,899 | €475,374 | +€445,474 | +1,490% |
| Land and buildings | 22 | - | €421,294 | +€421,294 | |
| Plant, machinery and equipment | 23 | - | €33,240 | +€33,240 | |
| Furniture and vehicles | 24 | €29,899 | €20,839 | -€9,060 | -30.3% |
| Financial fixed assets | 28 | €55,090 | €55,090 | = | 0.0% |
| Current assets | 29/58 | €359,220 | €516,652 | +€157,433 | +43.8% |
| Amounts receivable after more than one year | 29 | €45,000 | €47,813 | +€2,813 | +6.3% |
| Other amounts receivable | 291 | €45,000 | €47,813 | +€2,813 | +6.3% |
| Stocks and contracts in progress | 3 | €3,263 | €5,628 | +€2,365 | +72.5% |
| Stocks | 30/36 | €3,263 | €5,628 | +€2,365 | +72.5% |
| Amounts receivable within one year | 40/41 | €157,546 | €345,593 | +€188,047 | +119% |
| Trade receivables | 40 | €121,336 | €179,764 | +€58,428 | +48.2% |
| Other amounts receivable | 41 | €36,210 | €165,829 | +€129,619 | +358% |
| Cash at bank and in hand | 54/58 | €150,237 | €114,483 | -€35,755 | -23.8% |
| Deferred charges and accrued income | 490/1 | €3,174 | €3,136 | -€37 | -1.2% |
| Total equity and liabilities | 10/49 | €444,209 | €1,047,116 | +€602,907 | +136% |
| Equity | 10/15 | €258,410 | €319,323 | +€60,912 | +23.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €215,000 | €240,000 | +€25,000 | +11.6% |
| Distributable reserves | 133 | €215,000 | €240,000 | +€25,000 | +11.6% |
| Profit (loss) carried forward | 14 | €35,350 | €71,263 | +€35,912 | +102% |
| Amounts payable | 17/49 | €185,799 | €727,793 | +€541,995 | +292% |
| Amounts payable after more than one year | 17 | €332 | €427,078 | +€426,746 | +128,426% |
| Financial debts | 170/4 | €332 | €427,078 | +€426,746 | +128,426% |
| Amounts payable within one year | 42/48 | €185,466 | €300,715 | +€115,249 | +62.1% |
| Current portion of amounts payable after more than one year | 42 | €4,168 | €46,630 | +€42,463 | +1,019% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €46,846 | €117,980 | +€71,134 | +152% |
| Suppliers | 440/4 | €46,846 | €117,980 | +€71,134 | +152% |
| Taxes, remuneration and social security | 45 | €103,876 | €106,105 | +€2,229 | +2.1% |
| Taxes | 450/3 | €89,191 | €88,041 | -€1,150 | -1.3% |
| Remuneration and social security | 454/9 | €14,685 | €18,065 | +€3,379 | +23.0% |
| Other amounts payable | 47/48 | €577 | - | -€577 | |
| Remuneration, social security and pensions | 62 | €60,840 | €132,816 | +€71,977 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,556 | €19,255 | +€12,699 | +194% |
| Other operating charges | 640/8 | €9,936 | €24,323 | +€14,387 | +145% |
| Non-recurring operating charges | 66A | - | €5,093 | +€5,093 | |
| Gross operating margin | 9900 | €356,310 | €287,688 | -€68,622 | -19.3% |
| Operating profit (loss) | 9901 | €278,978 | €106,200 | -€172,778 | -61.9% |
| Financial income | 75/76B | €423 | €0 | -€423 | -100.0% |
| Recurring financial income | 75 | €423 | €0 | -€423 | -100.0% |
| Financial charges | 65/66B | €2,208 | €12,026 | +€9,818 | +445% |
| Recurring financial charges | 65 | €2,208 | €12,026 | +€9,818 | +445% |
| Profit (loss) for the period before taxes | 9903 | €277,193 | €94,174 | -€183,019 | -66.0% |
| Income taxes | 67/77 | €91,312 | €33,261 | -€58,051 | -63.6% |
| Profit (loss) for the period | 9904 | €185,880 | €60,912 | -€124,968 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €185,880 | €60,912 | -€124,968 | -67.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.