AGEMAT: 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.
What changed
AGEMAT
NACE 46.643, Wholesale of electrical equipment, including installation materials
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€98,691
2024 · €118,657-€19,967
Equity
€3.7m
2024 · €3.1m+€641,006
Cash
€247,522
2024 · €1.3m-€1.0m
Balance sheet total
€20.8m
2024 · €19.6m+€1.2m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+15.0%), from €10.4m to €11.9m
of which Other amounts receivable: +€794,653
- Cash -€1.0m
down €1.0m (-80.4%), from €1.3m to €247,522
mainly Short-term financial debts (-€1.7m) and Receivables within one year (-€1.6m)
- Financial fixed assets +€864,226
up €864,226 (+13253.0%), from €6,521 to €870,747
of which Affiliated companies: +€864,101
- Stocks and contracts -€272,277
down €272,277 (-3.6%), from €7.5m to €7.3m
Equity and liabilities
- Debts after one year +€2.3m
up €2.3m (+681.7%), from €340,955 to €2.7m
of which Other amounts payable: +€2.4m
- Short-term financial debts -€1.7m
no longer reported in 2025 (was €1.7m)
- Trade debts -€667,478
down €667,478 (-6.4%), from €10.4m to €9.8m
- Profit (loss) carried forward +€626,447
up €626,447 (+26.4%), from €2.4m to €3.0m
- Other debts +€388,415
up €388,415 (+10.2%), from €3.8m to €4.2m
Income statement
- Goods and materials +€739,568
up €739,568 (+2.1%), from €34.7m to €35.4m
of which Change in stocks: decrease (increase): +€590,848
- Turnover +€556,231
up €556,231 (+1.5%), from €38.2m to €38.7m
- Other operating income +€480,398
up €480,398 (+85.0%), from €565,351 to €1.0m
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
€118,657
Turnover
+€556,231
Other operating income
+€480,398
Goods and materials
-€739,568
Services and other goods
-€184,344
Staff costs
-€237,645
Depreciation
-€12,568
Write-downs
+€176,046
Other operating charges
-€8,369
Financial income
+€7,804
Financial charges
-€56,141
Taxes
-€1,810
Result 2025
€98,691
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
-€1.2m
Investment
-€1.0m
Financing
+€1.2m
Cash 2024
€1.3m
From operations (derived)
-€1.2m
Net result for the year
+€98,691
Depreciation
+€90,507
Stocks and contracts
+€272,277
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€31,488
Trade debts
-€667,478
Tax, wage and social debts
+€220,710
Other debts
+€388,415
Accrued charges and deferred income
-€12,600
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€1.2m
Debts after one year
+€2.3m
Current portion of long-term debt
-€914
Short-term financial debts
-€1.7m
Contributions, distributions and other
+€542,315
Cash 2025
€247,522
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,551,214 | €20,772,997 | +€1.2m | +6.2% |
| Fixed assets | 21/28 | €365,950 | €1,287,159 | +€921,209 | +251.7% |
| Intangible fixed assets | 21 | - | €9,303 | +€9,303 | |
| Tangible fixed assets | 22/27 | €359,429 | €407,109 | +€47,680 | +13.3% |
| Plant, machinery and equipment | 23 | €174,577 | €147,829 | -€26,748 | -15.3% |
| Furniture and vehicles | 24 | €50,542 | €101,610 | +€51,068 | +101.0% |
| Leasing and similar rights | 25 | €45,877 | €32,798 | -€13,079 | -28.5% |
| Other tangible fixed assets | 26 | €88,433 | €124,872 | +€36,439 | +41.2% |
| Financial fixed assets | 28 | €6,521 | €870,747 | +€864,226 | +13253.0% |
| Affiliated companies | 280/1 | - | €864,101 | +€864,101 | |
| Participating interests | 280 | - | €101 | +€101 | |
| Amounts receivable | 281 | - | €864,000 | +€864,000 | |
| Other financial fixed assets | 284/8 | €6,521 | €6,646 | +€125 | +1.9% |
| Amounts receivable and cash guarantees | 285/8 | €6,521 | €6,646 | +€125 | +1.9% |
| Current assets | 29/58 | €19,185,264 | €19,485,838 | +€300,575 | +1.6% |
| Stocks and contracts in progress | 3 | €7,529,027 | €7,256,749 | -€272,277 | -3.6% |
| Stocks | 30/36 | €7,529,027 | €7,256,749 | -€272,277 | -3.6% |
| Goods purchased for resale | 34 | €7,529,027 | €7,256,749 | -€272,277 | -3.6% |
| Amounts receivable within one year | 40/41 | €10,373,858 | €11,933,394 | +€1.6m | +15.0% |
| Trade receivables | 40 | €9,694,695 | €10,459,578 | +€764,883 | +7.9% |
| Other amounts receivable | 41 | €679,163 | €1,473,816 | +€794,653 | +117.0% |
| Cash at bank and in hand | 54/58 | €1,265,694 | €247,522 | -€1.0m | -80.4% |
| Deferred charges and accrued income | 490/1 | €16,685 | €48,174 | +€31,488 | +188.7% |
| Total equity and liabilities | 10/49 | €19,551,214 | €20,772,997 | +€1.2m | +6.2% |
| Equity | 10/15 | €3,050,879 | €3,691,884 | +€641,006 | +21.0% |
| Contributions | 10/11 | €350,000 | €368,600 | +€18,600 | +5.3% |
| Capital | 10 | €350,000 | €368,600 | +€18,600 | +5.3% |
| Issued capital | 100 | €350,000 | €368,600 | +€18,600 | +5.3% |
| Reserves | 13 | €327,040 | €322,999 | -€4,041 | -1.2% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,240 | €185,240 | = | 0.0% |
| Distributable reserves | 133 | €106,800 | €102,759 | -€4,041 | -3.8% |
| Profit (loss) carried forward | 14 | €2,373,839 | €3,000,285 | +€626,447 | +26.4% |
| Amounts payable | 17/49 | €16,500,335 | €17,081,113 | +€580,778 | +3.5% |
| Amounts payable after more than one year | 17 | €340,955 | €2,665,084 | +€2.3m | +681.7% |
| Financial debts | 170/4 | €106,955 | €63,525 | -€43,430 | -40.6% |
| Leasing and similar obligations | 172 | €23,679 | €6,798 | -€16,881 | -71.3% |
| Credit institutions | 173 | €83,276 | €56,727 | -€26,549 | -31.9% |
| Other amounts payable | 178/9 | €234,000 | €2,601,559 | +€2.4m | +1011.8% |
| Amounts payable within one year | 42/48 | €16,144,032 | €14,413,280 | -€1.7m | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €44,344 | €43,430 | -€914 | -2.1% |
| Financial debts | 43 | €1,671,485 | - | -€1.7m | |
| Credit institutions | 430/8 | €1,671,485 | - | -€1.7m | |
| Trade debts | 44 | €10,423,544 | €9,756,066 | -€667,478 | -6.4% |
| Suppliers | 440/4 | €10,423,544 | €9,756,066 | -€667,478 | -6.4% |
| Taxes, remuneration and social security | 45 | €202,790 | €423,500 | +€220,710 | +108.8% |
| Taxes | 450/3 | €109,911 | €208,747 | +€98,836 | +89.9% |
| Remuneration and social security | 454/9 | €92,879 | €214,753 | +€121,874 | +131.2% |
| Other amounts payable | 47/48 | €3,801,869 | €4,190,284 | +€388,415 | +10.2% |
| Accrued charges and deferred income | 492/3 | €15,349 | €2,749 | -€12,600 | -82.1% |
| Operating income | 70/76A | €38,742,526 | €39,779,155 | +€1.0m | +2.7% |
| Turnover | 70 | €38,177,175 | €38,733,406 | +€556,231 | +1.5% |
| Other operating income | 74 | €565,351 | €1,045,749 | +€480,398 | +85.0% |
| Operating charges | 60/66A | €38,240,925 | €39,247,373 | +€1.0m | +2.6% |
| Goods for resale, raw materials and consumables | 60 | €34,699,341 | €35,438,909 | +€739,568 | +2.1% |
| Purchases | 600/8 | €34,889,729 | €35,038,449 | +€148,720 | +0.4% |
| Change in stocks: decrease (increase) | 609 | -€190,388 | €400,460 | +€590,848 | |
| Services and other goods | 61 | €2,464,522 | €2,648,866 | +€184,344 | +7.5% |
| Remuneration, social security and pensions | 62 | €885,649 | €1,123,294 | +€237,645 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,939 | €90,507 | +€12,568 | +16.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €51,035 | -€125,011 | -€176,046 | |
| Other operating charges | 640/8 | €62,439 | €70,809 | +€8,369 | +13.4% |
| Operating profit (loss) | 9901 | €501,601 | €531,781 | +€30,180 | +6.0% |
| Financial income | 75/76B | €223 | €8,027 | +€7,804 | +3502.2% |
| Recurring financial income | 75 | €223 | €8,027 | +€7,804 | +3502.2% |
| Other financial income | 752/9 | €223 | €8,027 | +€7,804 | +3502.2% |
| Financial charges | 65/66B | €334,941 | €391,082 | +€56,141 | +16.8% |
| Recurring financial charges | 65 | €248,695 | €391,082 | +€142,387 | +57.3% |
| Debt charges | 650 | €218,074 | €358,341 | +€140,267 | +64.3% |
| Other financial charges | 652/9 | €30,621 | €32,741 | +€2,120 | +6.9% |
| Non-recurring financial charges | 66B | €86,246 | - | -€86,246 | |
| Profit (loss) for the period before taxes | 9903 | €166,883 | €148,726 | -€18,156 | -10.9% |
| Income taxes | 67/77 | €48,225 | €50,036 | +€1,810 | +3.8% |
| Taxes | 670/3 | €48,225 | €50,036 | +€1,810 | +3.8% |
| Profit (loss) for the period | 9904 | €118,657 | €98,691 | -€19,967 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,657 | €98,691 | -€19,967 | -16.8% |
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 11 October 2026 via checked.be.