SYSTEMAIR: what changed
Two fiscal 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
SYSTEMAIR
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €1.1m+€179,466
Equity
€4.5m
2024 · €3.7m+€844,848
Cash
€57,927
2024 · €86,464-€28,537
Balance sheet total
€8.7m
2024 · €7.2m+€1.5m
Largest movements
Assets
- Receivables within one year +€983,643
up €983,643 (+23.1%), from €4.3m to €5.2m
of which Trade receivables: +€1.5m
- Stocks and contracts +€677,560
up €677,560 (+32.4%), from €2.1m to €2.8m
- Tangible fixed assets -€134,930
down €134,930 (-18.3%), from €738,144 to €603,214
of which Land and buildings: -€123,887
Equity and liabilities
- Profit (loss) carried forward +€799,830
up €799,830 (+515.5%), from €155,159 to €954,989
- Trade debts +€478,272
up €478,272 (+30.3%), from €1.6m to €2.1m
- Tax, wage and social debts +€376,194
up €376,194 (+33.9%), from €1.1m to €1.5m
of which Taxes: +€309,666
- Advances received -€177,167
down €177,167 (-68.6%), from €258,188 to €81,021
Income statement
- Turnover +€1.1m
up €1.1m (+5.1%), from €21.7m to €22.8m
- Goods and materials +€613,547
up €613,547 (+3.8%), from €16.0m to €16.6m
of which Purchases: +€2.9m
- Staff costs +€365,176
up €365,176 (+11.1%), from €3.3m to €3.7m
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
€1.1m
Turnover
+€1.1m
Other operating income
+€146,454
Goods and materials
-€613,547
Services and other goods
-€84,547
Staff costs
-€365,176
Depreciation
-€23,171
Write-downs
-€53,376
Provisions
+€90,000
Other operating charges
+€5,483
Other operating items
+€20,913
Financial income
-€14,246
Financial charges
+€45,340
Taxes
-€82,334
Result 2025
€1.3m
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
+€449,513
Investment
-€51,753
Financing
-€426,297
Cash 2024
€86,464
From operations (derived)
+€449,513
Net result for the year
+€1.3m
Depreciation
+€186,682
Stocks and contracts
-€677,560
Receivables within one year
-€983,643
Deferred charges and accrued income
-€6,327
Trade debts
+€478,272
Tax, wage and social debts
+€376,194
Advances received
-€177,167
Accrued charges and deferred income
-€18,081
Investment (derived)
-€51,753
Investment in fixed assets (net)
-€51,753
Financing
-€426,297
Contributions, distributions and other
-€426,297
Cash 2025
€57,927
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,200,585 | €8,704,650 | +€1.5m | +20.9% |
| Fixed assets | 21/28 | €738,776 | €603,847 | -€134,929 | -18.3% |
| Tangible fixed assets | 22/27 | €738,144 | €603,214 | -€134,930 | -18.3% |
| Land and buildings | 22 | €549,962 | €426,075 | -€123,887 | -22.5% |
| Plant, machinery and equipment | 23 | €49,799 | €44,414 | -€5,385 | -10.8% |
| Furniture and vehicles | 24 | €138,383 | €132,725 | -€5,658 | -4.1% |
| Financial fixed assets | 28 | €632 | €633 | +€1 | +0.1% |
| Other financial fixed assets | 284/8 | €632 | €633 | +€1 | +0.1% |
| Amounts receivable and cash guarantees | 285/8 | €632 | €633 | +€1 | +0.1% |
| Current assets | 29/58 | €6,461,808 | €8,100,803 | +€1.6m | +25.4% |
| Stocks and contracts in progress | 3 | €2,090,548 | €2,768,108 | +€677,560 | +32.4% |
| Stocks | 30/36 | €2,090,548 | €2,768,108 | +€677,560 | +32.4% |
| Goods purchased for resale | 34 | €2,090,548 | €2,768,108 | +€677,560 | +32.4% |
| Amounts receivable within one year | 40/41 | €4,253,753 | €5,237,396 | +€983,643 | +23.1% |
| Trade receivables | 40 | €3,758,306 | €5,232,765 | +€1.5m | +39.2% |
| Other amounts receivable | 41 | €495,447 | €4,631 | -€490,816 | -99.1% |
| Cash at bank and in hand | 54/58 | €86,464 | €57,927 | -€28,537 | -33.0% |
| Deferred charges and accrued income | 490/1 | €31,045 | €37,372 | +€6,327 | +20.4% |
| Total equity and liabilities | 10/49 | €7,200,585 | €8,704,650 | +€1.5m | +20.9% |
| Equity | 10/15 | €3,676,546 | €4,521,394 | +€844,848 | +23.0% |
| Contributions | 10/11 | €3,374,000 | €3,374,000 | = | 0.0% |
| Capital | 10 | €3,374,000 | €3,374,000 | = | 0.0% |
| Issued capital | 100 | €3,374,000 | €3,374,000 | = | 0.0% |
| Reserves | 13 | €78,798 | €150,113 | +€71,315 | +90.5% |
| Non-distributable reserves | 130/1 | €78,798 | €150,113 | +€71,315 | +90.5% |
| Legal reserve | 130 | €78,798 | €150,113 | +€71,315 | +90.5% |
| Profit (loss) carried forward | 14 | €155,159 | €954,989 | +€799,830 | +515.5% |
| Investment grants | 15 | €68,589 | €42,292 | -€26,297 | -38.3% |
| Provisions and deferred taxes | 16 | €100,000 | €100,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €100,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,424,039 | €4,083,256 | +€659,217 | +19.3% |
| Amounts payable within one year | 42/48 | €3,343,539 | €4,020,838 | +€677,299 | +20.3% |
| Trade debts | 44 | €1,576,477 | €2,054,749 | +€478,272 | +30.3% |
| Suppliers | 440/4 | €1,576,477 | €2,054,749 | +€478,272 | +30.3% |
| Advances received on contracts in progress | 46 | €258,188 | €81,021 | -€177,167 | -68.6% |
| Taxes, remuneration and social security | 45 | €1,108,874 | €1,485,068 | +€376,194 | +33.9% |
| Taxes | 450/3 | €390,528 | €700,194 | +€309,666 | +79.3% |
| Remuneration and social security | 454/9 | €718,347 | €784,874 | +€66,527 | +9.3% |
| Other amounts payable | 47/48 | €400,000 | €400,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €80,499 | €62,418 | -€18,081 | -22.5% |
| Operating income | 70/76A | €21,949,022 | €23,222,227 | +€1.3m | +5.8% |
| Turnover | 70 | €21,692,885 | €22,800,559 | +€1.1m | +5.1% |
| Other operating income | 74 | €255,678 | €402,132 | +€146,454 | +57.3% |
| Non-recurring operating income | 76A | €459 | €19,536 | +€19,077 | +4156.2% |
| Operating charges | 60/66A | €20,405,453 | €21,447,952 | +€1.0m | +5.1% |
| Goods for resale, raw materials and consumables | 60 | €16,003,900 | €16,617,447 | +€613,547 | +3.8% |
| Purchases | 600/8 | €14,515,595 | €17,378,286 | +€2.9m | +19.7% |
| Change in stocks: decrease (increase) | 609 | €1,488,305 | -€760,839 | -€2.2m | |
| Services and other goods | 61 | €794,324 | €878,871 | +€84,547 | +10.6% |
| Remuneration, social security and pensions | 62 | €3,285,656 | €3,650,832 | +€365,176 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,511 | €186,682 | +€23,171 | +14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,708 | €82,084 | +€53,376 | +185.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €90,000 | - | -€90,000 | |
| Other operating charges | 640/8 | €36,210 | €30,727 | -€5,483 | -15.1% |
| Non-recurring operating charges | 66A | €3,145 | €1,309 | -€1,836 | -58.4% |
| Operating profit (loss) | 9901 | €1,543,569 | €1,774,275 | +€230,706 | +14.9% |
| Financial income | 75/76B | €51,652 | €37,406 | -€14,246 | -27.6% |
| Recurring financial income | 75 | €48,825 | €37,406 | -€11,419 | -23.4% |
| Other financial income | 752/9 | €48,825 | €37,406 | -€11,419 | -23.4% |
| Non-recurring financial income | 76B | €2,827 | - | -€2,827 | |
| Financial charges | 65/66B | €133,465 | €88,125 | -€45,340 | -34.0% |
| Recurring financial charges | 65 | €133,465 | €88,125 | -€45,340 | -34.0% |
| Debt charges | 650 | €108,365 | €67,316 | -€41,049 | -37.9% |
| Other financial charges | 652/9 | €25,100 | €20,809 | -€4,291 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €1,461,756 | €1,723,556 | +€261,800 | +17.9% |
| Income taxes | 67/77 | €370,077 | €452,411 | +€82,334 | +22.2% |
| Taxes | 670/3 | €370,077 | €452,411 | +€82,334 | +22.2% |
| Profit (loss) for the period | 9904 | €1,091,679 | €1,271,145 | +€179,466 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,091,679 | €1,271,145 | +€179,466 | +16.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.