AT-SYSTEMS: 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.
AT-SYSTEMS
Largest movements
- Stocks and contracts +€82,743
up €82,743 (+26.9%), from €307,699 to €390,442
- Receivables within one year +€52,185
up €52,185 (+16.9%), from €309,037 to €361,223
of which Trade receivables: +€54,048
- Cash +€40,012
up €40,012 (+157%), from €25,507 to €65,519
mainly Debts after one year (+€148,967) and Net result for the year (+€100,550)
- Tangible fixed assets +€37,139
up €37,139 (+4.1%), from €900,039 to €937,178
of which Land and buildings: +€54,100
- Debts after one year +€148,967
up €148,967 (+24.4%), from €610,990 to €759,957
- Trade debts +€44,609
up €44,609 (+12.5%), from €355,700 to €400,309
- Gross operating margin +€135,376
up €135,376 (+95.7%), from €141,516 to €276,892
- Taxes +€31,892
up €31,892 (+803%), from €3,969 to €35,861
- Financial charges +€6,379
up €6,379 (+41.2%), from €15,501 to €21,881
- Depreciation +€3,310
up €3,310 (+6.2%), from €53,116 to €56,426
- Staff costs +€2,976
up €2,976 (+5.1%), from €58,214 to €61,190
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 | €1,544,716 | €1,756,302 | +€211,586 | +13.7% |
| Fixed assets | 21/28 | €900,039 | €937,178 | +€37,139 | +4.1% |
| Tangible fixed assets | 22/27 | €900,039 | €937,178 | +€37,139 | +4.1% |
| Land and buildings | 22 | €864,709 | €918,810 | +€54,100 | +6.3% |
| Plant, machinery and equipment | 23 | €10,348 | €7,583 | -€2,765 | -26.7% |
| Furniture and vehicles | 24 | €24,982 | €10,786 | -€14,196 | -56.8% |
| Current assets | 29/58 | €644,677 | €819,124 | +€174,447 | +27.1% |
| Stocks and contracts in progress | 3 | €307,699 | €390,442 | +€82,743 | +26.9% |
| Stocks | 30/36 | €307,699 | €390,442 | +€82,743 | +26.9% |
| Amounts receivable within one year | 40/41 | €309,037 | €361,223 | +€52,185 | +16.9% |
| Trade receivables | 40 | €304,287 | €358,336 | +€54,048 | +17.8% |
| Other amounts receivable | 41 | €4,750 | €2,887 | -€1,863 | -39.2% |
| Cash at bank and in hand | 54/58 | €25,507 | €65,519 | +€40,012 | +157% |
| Deferred charges and accrued income | 490/1 | €2,433 | €1,940 | -€494 | -20.3% |
| Total equity and liabilities | 10/49 | €1,544,716 | €1,756,302 | +€211,586 | +13.7% |
| Equity | 10/15 | €290,137 | €290,426 | +€289 | +0.1% |
| Contributions | 10/11 | €39,102 | €39,102 | = | 0.0% |
| Reserves | 13 | €251,035 | €251,324 | +€289 | +0.1% |
| Distributable reserves | 133 | €251,035 | €251,324 | +€289 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,254,579 | €1,465,876 | +€211,297 | +16.8% |
| Amounts payable after more than one year | 17 | €610,990 | €759,957 | +€148,967 | +24.4% |
| Financial debts | 170/4 | €610,990 | €759,957 | +€148,967 | +24.4% |
| Amounts payable within one year | 42/48 | €643,360 | €705,919 | +€62,558 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €31,093 | €38,435 | +€7,342 | +23.6% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €355,700 | €400,309 | +€44,609 | +12.5% |
| Suppliers | 440/4 | €355,700 | €400,309 | +€44,609 | +12.5% |
| Taxes, remuneration and social security | 45 | €25,109 | €26,006 | +€897 | +3.6% |
| Taxes | 450/3 | €20,466 | €21,402 | +€936 | +4.6% |
| Remuneration and social security | 454/9 | €4,643 | €4,604 | -€39 | -0.8% |
| Other amounts payable | 47/48 | €106,459 | €116,169 | +€9,710 | +9.1% |
| Accrued charges and deferred income | 492/3 | €228 | €0 | -€228 | -100% |
| Remuneration, social security and pensions | 62 | €58,214 | €61,190 | +€2,976 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,116 | €56,426 | +€3,310 | +6.2% |
| Other operating charges | 640/8 | €6,095 | €6,500 | +€405 | +6.6% |
| Gross operating margin | 9900 | €141,516 | €276,892 | +€135,376 | +95.7% |
| Operating profit (loss) | 9901 | €24,092 | €152,777 | +€128,685 | +534% |
| Financial income | 75/76B | €5,863 | €5,515 | -€348 | -5.9% |
| Recurring financial income | 75 | €5,863 | €5,515 | -€348 | -5.9% |
| Financial charges | 65/66B | €15,501 | €21,881 | +€6,379 | +41.2% |
| Recurring financial charges | 65 | €15,501 | €21,881 | +€6,379 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €14,453 | €136,411 | +€121,958 | +844% |
| Income taxes | 67/77 | €3,969 | €35,861 | +€31,892 | +803% |
| Profit (loss) for the period | 9904 | €10,484 | €100,550 | +€90,066 | +859% |
| Profit (loss) for the period to be appropriated | 9905 | €10,484 | €100,550 | +€90,066 | +859% |
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 31 October 2026 via checked.be.