AUDAG: 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
AUDAG
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€86,145
2024 · -€47,675-€38,470
Equity
€2.1m
2024 · €2.2m-€86,145
Cash
€197,852
2024 · €246,848-€48,996
Balance sheet total
€4.1m
2024 · €4.3m-€242,768
Largest movements
Assets
- Tangible fixed assets -€231,507
down €231,507 (-5.8%), from €4.0m to €3.7m
of which Land and buildings: -€209,791
- Cash -€48,996
down €48,996 (-19.8%), from €246,848 to €197,852
mainly Other debts (-€134,414) and Net result for the year (-€86,145)
Equity and liabilities
- Other debts -€134,414
down €134,414 (-6.8%), from €2.0m to €1.8m
- Profit (loss) carried forward -€86,145
down €86,145 (-7.1%), from -€1.2m to -€1.3m
Income statement
- Staff costs +€22,841
up €22,841 (+24.0%), from €95,327 to €118,168
- Gross operating margin -€12,763
down €12,763 (-4.2%), from €301,131 to €288,369
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
-€47,675
Gross operating margin
-€12,763
Staff costs
-€22,841
Depreciation
-€2,936
Other operating charges
+€546
Financial income
-€225
Financial charges
-€195
Taxes
-€58
Result 2025
-€86,145
raises the resultlowers the result
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.
From operations
-€35,173
Investment
-€13,823
Financing
€0
Cash 2024
€246,848
From operations (derived)
-€35,173
Net result for the year
-€86,145
Depreciation
+€241,350
Receivables within one year
-€34,991
Deferred charges and accrued income
+€1,236
Trade debts
-€4,985
Tax, wage and social debts
-€14,125
Other debts
-€134,414
Accrued charges and deferred income
-€3,099
Investment (derived)
-€13,823
Investment in fixed assets (net)
-€13,823
Cash 2025
€197,852
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,301,024 | €4,058,256 | -€242,768 | -5.6% |
| Fixed assets | 21/28 | €3,961,422 | €3,733,895 | -€227,526 | -5.7% |
| Intangible fixed assets | 21 | - | €3,980 | +€3,980 | |
| Tangible fixed assets | 22/27 | €3,960,872 | €3,729,365 | -€231,507 | -5.8% |
| Land and buildings | 22 | €3,782,919 | €3,573,128 | -€209,791 | -5.5% |
| Plant, machinery and equipment | 23 | €117,232 | €109,509 | -€7,723 | -6.6% |
| Furniture and vehicles | 24 | €35,504 | €22,415 | -€13,089 | -36.9% |
| Leasing and similar rights | 25 | €734 | €489 | -€245 | -33.3% |
| Other tangible fixed assets | 26 | €24,483 | €23,825 | -€658 | -2.7% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €339,602 | €324,360 | -€15,241 | -4.5% |
| Amounts receivable within one year | 40/41 | €79,213 | €114,205 | +€34,991 | +44.2% |
| Trade receivables | 40 | €63,847 | €90,660 | +€26,813 | +42.0% |
| Other amounts receivable | 41 | €15,366 | €23,544 | +€8,178 | +53.2% |
| Cash at bank and in hand | 54/58 | €246,848 | €197,852 | -€48,996 | -19.8% |
| Deferred charges and accrued income | 490/1 | €13,540 | €12,304 | -€1,236 | -9.1% |
| Total equity and liabilities | 10/49 | €4,301,024 | €4,058,256 | -€242,768 | -5.6% |
| Equity | 10/15 | €2,235,971 | €2,149,826 | -€86,145 | -3.9% |
| Contributions | 10/11 | €2,575,000 | €2,575,000 | = | 0.0% |
| Capital | 10 | €2,575,000 | €2,575,000 | = | 0.0% |
| Issued capital | 100 | €2,575,000 | €2,575,000 | = | 0.0% |
| Revaluation surpluses | 12 | €850,000 | €850,000 | = | 0.0% |
| Reserves | 13 | €17,500 | €17,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,206,529 | -€1,292,674 | -€86,145 | -7.1% |
| Amounts payable | 17/49 | €2,065,053 | €1,908,430 | -€156,623 | -7.6% |
| Amounts payable within one year | 42/48 | €2,061,553 | €1,908,029 | -€153,524 | -7.4% |
| Trade debts | 44 | €54,827 | €49,842 | -€4,985 | -9.1% |
| Suppliers | 440/4 | €54,827 | €49,842 | -€4,985 | -9.1% |
| Taxes, remuneration and social security | 45 | €43,330 | €29,206 | -€14,125 | -32.6% |
| Taxes | 450/3 | €27,065 | €11,041 | -€16,024 | -59.2% |
| Remuneration and social security | 454/9 | €16,265 | €18,165 | +€1,900 | +11.7% |
| Other amounts payable | 47/48 | €1,963,395 | €1,828,982 | -€134,414 | -6.8% |
| Accrued charges and deferred income | 492/3 | €3,500 | €401 | -€3,099 | -88.5% |
| Remuneration, social security and pensions | 62 | €95,327 | €118,168 | +€22,841 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,414 | €241,350 | +€2,936 | +1.2% |
| Other operating charges | 640/8 | €13,171 | €12,625 | -€546 | -4.1% |
| Gross operating margin | 9900 | €301,131 | €288,369 | -€12,763 | -4.2% |
| Operating profit (loss) | 9901 | -€45,781 | -€83,774 | -€37,993 | -83.0% |
| Financial income | 75/76B | €503 | €278 | -€225 | -44.7% |
| Recurring financial income | 75 | €503 | €278 | -€225 | -44.7% |
| Financial charges | 65/66B | €2,064 | €2,259 | +€195 | +9.4% |
| Recurring financial charges | 65 | €2,064 | €2,259 | +€195 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€47,342 | -€85,754 | -€38,412 | -81.1% |
| Income taxes | 67/77 | €333 | €390 | +€58 | +17.3% |
| Profit (loss) for the period | 9904 | -€47,675 | -€86,145 | -€38,470 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,675 | -€86,145 | -€38,470 | -80.7% |
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.