10 ACES advisory: 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.
10 ACES advisory
Largest movements
- Cash +€34,473
up €34,473 (+36.9%), from €93,329 to €127,802
mainly Net result for the year (+€41,451) and Tax, wage and social debts (+€6,542)
- Receivables after one year +€5,890
up €5,890 (+91.2%), from €6,461 to €12,351
of which Other amounts receivable: +€12,351
- Receivables within one year +€4,841
up €4,841 (+27.9%), from €17,353 to €22,194
of which Other amounts receivable: +€7,712
- Tangible fixed assets -€3,737
down €3,737 (-37.0%), from €10,096 to €6,359
of which Furniture and vehicles: -€3,289
- Deferred charges and accrued income +€2,823
new in 2025: €2,823
- Reserves +€41,451
up €41,451 (+49.5%), from €83,679 to €125,129
- Tax, wage and social debts +€6,542
up €6,542 (+21.6%), from €30,240 to €36,782
of which Taxes: +€6,392
- Debts after one year -€3,960
down €3,960 (-92.2%), from €4,297 to €337
- Gross operating margin -€60,868
down €60,868 (-52.5%), from €115,903 to €55,035
- Taxes -€11,136
down €11,136 (-51.1%), from €21,796 to €10,659
- Depreciation -€5,803
down €5,803 (-60.8%), from €9,541 to €3,737
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 | €127,239 | €171,529 | +€44,290 | +34.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €10,096 | €6,359 | -€3,737 | -37.0% |
| Tangible fixed assets | 22/27 | €10,096 | €6,359 | -€3,737 | -37.0% |
| Plant, machinery and equipment | 23 | €486 | €37 | -€448 | -92.3% |
| Furniture and vehicles | 24 | €9,610 | €6,321 | -€3,289 | -34.2% |
| Current assets | 29/58 | €117,143 | €165,170 | +€48,027 | +41.0% |
| Amounts receivable after more than one year | 29 | €6,461 | €12,351 | +€5,890 | +91.2% |
| Trade receivables | 290 | €6,461 | - | -€6,461 | |
| Other amounts receivable | 291 | - | €12,351 | +€12,351 | |
| Amounts receivable within one year | 40/41 | €17,353 | €22,194 | +€4,841 | +27.9% |
| Trade receivables | 40 | €9,870 | €7,000 | -€2,870 | -29.1% |
| Other amounts receivable | 41 | €7,483 | €15,194 | +€7,712 | +103% |
| Cash at bank and in hand | 54/58 | €93,329 | €127,802 | +€34,473 | +36.9% |
| Deferred charges and accrued income | 490/1 | - | €2,823 | +€2,823 | |
| Total equity and liabilities | 10/49 | €127,239 | €171,529 | +€44,290 | +34.8% |
| Equity | 10/15 | €87,679 | €129,129 | +€41,451 | +47.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €83,679 | €125,129 | +€41,451 | +49.5% |
| Distributable reserves | 133 | €83,679 | €125,129 | +€41,451 | +49.5% |
| Amounts payable | 17/49 | €39,560 | €42,400 | +€2,839 | +7.2% |
| Amounts payable after more than one year | 17 | €4,297 | €337 | -€3,960 | -92.2% |
| Financial debts | 170/4 | €4,297 | €337 | -€3,960 | -92.2% |
| Amounts payable within one year | 42/48 | €35,263 | €42,063 | +€6,799 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €3,808 | €3,960 | +€152 | +4.0% |
| Trade debts | 44 | €1,215 | €1,321 | +€106 | +8.7% |
| Suppliers | 440/4 | €1,215 | €1,321 | +€106 | +8.7% |
| Taxes, remuneration and social security | 45 | €30,240 | €36,782 | +€6,542 | +21.6% |
| Taxes | 450/3 | €28,890 | €35,282 | +€6,392 | +22.1% |
| Remuneration and social security | 454/9 | €1,350 | €1,500 | +€150 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,541 | €3,737 | -€5,803 | -60.8% |
| Other operating charges | 640/8 | €530 | €191 | -€339 | -63.9% |
| Gross operating margin | 9900 | €115,903 | €55,035 | -€60,868 | -52.5% |
| Operating profit (loss) | 9901 | €105,832 | €51,106 | -€54,726 | -51.7% |
| Financial income | 75/76B | €679 | €1,378 | +€699 | +103% |
| Recurring financial income | 75 | €679 | €1,378 | +€699 | +103% |
| Financial charges | 65/66B | €1,036 | €375 | -€662 | -63.8% |
| Recurring financial charges | 65 | €1,036 | €375 | -€662 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | €105,475 | €52,110 | -€53,365 | -50.6% |
| Income taxes | 67/77 | €21,796 | €10,659 | -€11,136 | -51.1% |
| Profit (loss) for the period | 9904 | €83,679 | €41,451 | -€42,228 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,679 | €41,451 | -€42,228 | -50.5% |
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 24 October 2026 via checked.be.