Ageres: 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
Ageres
NACE 41.001, General construction of residential buildings
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€90,099
2024 · €27,087+€63,012
Equity
€2.4m
2024 · €2.3m+€90,099
Cash
€2,323
2024 · €3,441-€1,118
Balance sheet total
€9.9m
2024 · €11.2m-€1.3m
Largest movements
Assets
- Receivables within one year -€889,041
down €889,041 (-21.1%), from €4.2m to €3.3m
of which Trade receivables: -€837,932
- Deferred charges and accrued income -€428,347
down €428,347 (-94.7%), from €452,113 to €23,766
- Stocks and contracts -€343,968
down €343,968 (-5.3%), from €6.5m to €6.1m
of which Contracts in progress: -€512,525
- Tangible fixed assets +€341,432
up €341,432 (+1274.3%), from €26,793 to €368,224
of which Plant, machinery and equipment: +€277,633
Equity and liabilities
- Trade debts -€621,873
down €621,873 (-30.6%), from €2.0m to €1.4m
- Short-term financial debts -€440,000
no longer reported in 2025 (was €440,000)
- Debts after one year -€150,000
down €150,000 (-2.5%), from €6.0m to €5.9m
- Accrued charges and deferred income -€121,257
down €121,257 (-88.1%), from €137,659 to €16,402
Income statement
- Goods and materials -€2.1m
down €2.1m (-22.4%), from €9.4m to €7.3m
of which Purchases: -€2.1m
- Turnover -€2.0m
down €2.0m (-14.7%), from €13.6m to €11.6m
- Services and other goods -€279,678
down €279,678 (-18.1%), from €1.5m to €1.3m
- Staff costs -€141,849
down €141,849 (-6.4%), from €2.2m to €2.1m
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
€27,087
Turnover
-€2.0m
Other operating income
+€2,224
Goods and materials
+€2.1m
Services and other goods
+€279,678
Staff costs
+€141,849
Depreciation
-€23,833
Write-downs
-€38,883
Other operating charges
-€14,780
Other operating items
-€195,832
Financial income
-€69,472
Financial charges
-€98,941
Taxes
-€11,801
Result 2025
€90,099
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
+€967,718
Investment
-€378,835
Financing
-€590,000
Cash 2024
€3,441
From operations (derived)
+€967,718
Net result for the year
+€90,099
Depreciation
+€28,539
Stocks and contracts
+€343,968
Receivables within one year
+€889,041
Deferred charges and accrued income
+€428,347
Trade debts
-€621,873
Tax, wage and social debts
-€69,146
Accrued charges and deferred income
-€121,257
Investment (derived)
-€378,835
Investment in fixed assets (net)
-€378,835
Financing
-€590,000
Debts after one year
-€150,000
Short-term financial debts
-€440,000
Cash 2025
€2,323
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,196,821 | €9,884,644 | -€1.3m | -11.7% |
| Fixed assets | 21/28 | €56,272 | €406,568 | +€350,297 | +622.5% |
| Tangible fixed assets | 22/27 | €26,793 | €368,224 | +€341,432 | +1274.3% |
| Plant, machinery and equipment | 23 | €18,436 | €296,069 | +€277,633 | +1505.9% |
| Furniture and vehicles | 24 | €1,219 | €66,247 | +€65,029 | +5335.2% |
| Other tangible fixed assets | 26 | €7,138 | €5,908 | -€1,230 | -17.2% |
| Financial fixed assets | 28 | €29,479 | €38,344 | +€8,865 | +30.1% |
| Other financial fixed assets | 284/8 | €29,479 | €38,344 | +€8,865 | +30.1% |
| Amounts receivable and cash guarantees | 285/8 | €29,479 | €38,344 | +€8,865 | +30.1% |
| Current assets | 29/58 | €11,140,550 | €9,478,076 | -€1.7m | -14.9% |
| Stocks and contracts in progress | 3 | €6,471,784 | €6,127,816 | -€343,968 | -5.3% |
| Stocks | 30/36 | €740,959 | €909,515 | +€168,556 | +22.7% |
| Raw materials and consumables | 30/31 | €85,109 | €89,933 | +€4,824 | +5.7% |
| Property held for sale | 35 | €655,849 | €819,582 | +€163,733 | +25.0% |
| Contracts in progress | 37 | €5,730,825 | €5,218,301 | -€512,525 | -8.9% |
| Amounts receivable within one year | 40/41 | €4,213,212 | €3,324,171 | -€889,041 | -21.1% |
| Trade receivables | 40 | €4,162,103 | €3,324,171 | -€837,932 | -20.1% |
| Other amounts receivable | 41 | €51,109 | - | -€51,109 | |
| Cash at bank and in hand | 54/58 | €3,441 | €2,323 | -€1,118 | -32.5% |
| Deferred charges and accrued income | 490/1 | €452,113 | €23,766 | -€428,347 | -94.7% |
| Total equity and liabilities | 10/49 | €11,196,821 | €9,884,644 | -€1.3m | -11.7% |
| Equity | 10/15 | €2,284,911 | €2,375,010 | +€90,099 | +3.9% |
| Contributions | 10/11 | €1,650,000 | €1,650,000 | = | 0.0% |
| Capital | 10 | €1,650,000 | €1,650,000 | = | 0.0% |
| Issued capital | 100 | €1,650,000 | €1,650,000 | = | 0.0% |
| Reserves | 13 | €1,727,803 | €1,727,803 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,428 | €8,428 | = | 0.0% |
| Legal reserve | 130 | €8,428 | €8,428 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,714 | €35,714 | = | 0.0% |
| Distributable reserves | 133 | €1,683,661 | €1,683,661 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,092,892 | -€1,002,793 | +€90,099 | +8.2% |
| Amounts payable | 17/49 | €8,911,910 | €7,509,634 | -€1.4m | -15.7% |
| Amounts payable after more than one year | 17 | €6,000,000 | €5,850,000 | -€150,000 | -2.5% |
| Other amounts payable | 178/9 | €6,000,000 | €5,850,000 | -€150,000 | -2.5% |
| Amounts payable within one year | 42/48 | €2,774,251 | €1,643,232 | -€1.1m | -40.8% |
| Financial debts | 43 | €440,000 | - | -€440,000 | |
| Credit institutions | 430/8 | €440,000 | - | -€440,000 | |
| Trade debts | 44 | €2,029,896 | €1,408,023 | -€621,873 | -30.6% |
| Suppliers | 440/4 | €2,029,896 | €1,408,023 | -€621,873 | -30.6% |
| Taxes, remuneration and social security | 45 | €304,355 | €235,209 | -€69,146 | -22.7% |
| Taxes | 450/3 | €17,421 | €20,470 | +€3,049 | +17.5% |
| Remuneration and social security | 454/9 | €286,934 | €214,739 | -€72,195 | -25.2% |
| Accrued charges and deferred income | 492/3 | €137,659 | €16,402 | -€121,257 | -88.1% |
| Operating income | 70/76A | €13,511,509 | €11,316,821 | -€2.2m | -16.2% |
| Turnover | 70 | €13,635,683 | €11,634,603 | -€2.0m | -14.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€152,960 | -€348,792 | -€195,832 | -128.0% |
| Other operating income | 74 | €28,785 | €31,010 | +€2,224 | +7.7% |
| Operating charges | 60/66A | €13,270,295 | €10,832,380 | -€2.4m | -18.4% |
| Goods for resale, raw materials and consumables | 60 | €9,359,445 | €7,265,561 | -€2.1m | -22.4% |
| Purchases | 600/8 | €9,364,686 | €7,270,385 | -€2.1m | -22.4% |
| Change in stocks: decrease (increase) | 609 | -€5,241 | -€4,824 | +€417 | +8.0% |
| Services and other goods | 61 | €1,547,199 | €1,267,520 | -€279,678 | -18.1% |
| Remuneration, social security and pensions | 62 | €2,231,227 | €2,089,378 | -€141,849 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,705 | €28,539 | +€23,833 | +506.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €101,336 | €140,219 | +€38,883 | +38.4% |
| Other operating charges | 640/8 | €26,383 | €41,163 | +€14,780 | +56.0% |
| Operating profit (loss) | 9901 | €241,214 | €484,440 | +€243,226 | +100.8% |
| Financial income | 75/76B | €78,915 | €9,443 | -€69,472 | -88.0% |
| Recurring financial income | 75 | €78,915 | €9,443 | -€69,472 | -88.0% |
| Income from current assets | 751 | €78,915 | €9,443 | -€69,472 | -88.0% |
| Financial charges | 65/66B | €304,212 | €403,153 | +€98,941 | +32.5% |
| Recurring financial charges | 65 | €304,212 | €403,153 | +€98,941 | +32.5% |
| Debt charges | 650 | €302,615 | €401,070 | +€98,455 | +32.5% |
| Other financial charges | 652/9 | €1,596 | €2,083 | +€486 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €15,917 | €90,730 | +€74,813 | +470.0% |
| Income taxes | 67/77 | -€11,170 | €631 | +€11,801 | |
| Taxes | 670/3 | €1,178 | €631 | -€546 | -46.4% |
| Tax adjustments and reversals of tax provisions | 77 | €12,347 | - | -€12,347 | |
| Profit (loss) for the period | 9904 | €27,087 | €90,099 | +€63,012 | +232.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,087 | €90,099 | +€63,012 | +232.6% |
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.