4 Accords Management: 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.
4 Accords Management
Largest movements
- Receivables within one year -€16,378
down €16,378 (-17.0%), from €96,606 to €80,228
of which Other amounts receivable: -€46,378
- Cash +€10,641
up €10,641 (+15.6%), from €68,238 to €78,879
mainly Net result for the year (+€124,069) and Receivables within one year (+€16,378)
- Tangible fixed assets -€6,212
down €6,212 (-36.7%), from €16,924 to €10,713
- Profit (loss) carried forward -€45,861
down €45,861 (-78.2%), from €58,632 to €12,771
- Reserves +€30,000
up €30,000 (+50.0%), from €60,000 to €90,000
- Debts after one year -€4,978
down €4,978 (-74.3%), from €6,702 to €1,724
- Tax, wage and social debts +€4,629
up €4,629 (+55.3%), from €8,369 to €12,998
- Provisions +€3,678
up €3,678 (+10.4%), from €35,240 to €38,918
- Gross operating margin +€60,957
up €60,957 (+39.7%), from €153,725 to €214,682
- Taxes +€18,740
up €18,740 (+78.9%), from €23,755 to €42,495
- Financial charges -€7,111
down €7,111 (-16.0%), from €44,349 to €37,238
- Provisions +€4,089
up €4,089, from -€411 to €3,678
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 | €181,769 | €169,820 | -€11,949 | -6.6% |
| Fixed assets | 21/28 | €16,924 | €10,713 | -€6,212 | -36.7% |
| Tangible fixed assets | 22/27 | €16,924 | €10,713 | -€6,212 | -36.7% |
| Furniture and vehicles | 24 | €16,924 | €10,713 | -€6,212 | -36.7% |
| Current assets | 29/58 | €164,844 | €159,107 | -€5,737 | -3.5% |
| Amounts receivable within one year | 40/41 | €96,606 | €80,228 | -€16,378 | -17.0% |
| Trade receivables | 40 | €50,000 | €80,000 | +€30,000 | +60.0% |
| Other amounts receivable | 41 | €46,606 | €228 | -€46,378 | -99.5% |
| Cash at bank and in hand | 54/58 | €68,238 | €78,879 | +€10,641 | +15.6% |
| Total equity and liabilities | 10/49 | €181,769 | €169,820 | -€11,949 | -6.6% |
| Equity | 10/15 | €126,687 | €110,826 | -€15,861 | -12.5% |
| Contributions | 10/11 | €8,055 | €8,055 | = | 0.0% |
| Reserves | 13 | €60,000 | €90,000 | +€30,000 | +50.0% |
| Distributable reserves | 133 | €60,000 | €90,000 | +€30,000 | +50.0% |
| Profit (loss) carried forward | 14 | €58,632 | €12,771 | -€45,861 | -78.2% |
| Provisions and deferred taxes | 16 | €35,240 | €38,918 | +€3,678 | +10.4% |
| Provisions for liabilities and charges | 160/5 | €35,240 | €38,918 | +€3,678 | +10.4% |
| Other liabilities and charges | 164/5 | €35,240 | €38,918 | +€3,678 | +10.4% |
| Amounts payable | 17/49 | €19,841 | €20,075 | +€234 | +1.2% |
| Amounts payable after more than one year | 17 | €6,702 | €1,724 | -€4,978 | -74.3% |
| Financial debts | 170/4 | €6,702 | €1,724 | -€4,978 | -74.3% |
| Amounts payable within one year | 42/48 | €13,140 | €18,351 | +€5,212 | +39.7% |
| Current portion of amounts payable after more than one year | 42 | €4,701 | €4,978 | +€277 | +5.9% |
| Trade debts | 44 | €70 | €280 | +€210 | +302% |
| Suppliers | 440/4 | €70 | €280 | +€210 | +302% |
| Taxes, remuneration and social security | 45 | €8,369 | €12,998 | +€4,629 | +55.3% |
| Taxes | 450/3 | €8,369 | €12,998 | +€4,629 | +55.3% |
| Other amounts payable | 47/48 | - | €95 | +€95 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,638 | €6,212 | -€1,427 | -18.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€411 | €3,678 | +€4,089 | |
| Other operating charges | 640/8 | €1,195 | €990 | -€205 | -17.2% |
| Non-recurring operating charges | 66A | €212 | €0 | -€212 | -100.0% |
| Gross operating margin | 9900 | €153,725 | €214,682 | +€60,957 | +39.7% |
| Operating profit (loss) | 9901 | €145,091 | €203,802 | +€58,711 | +40.5% |
| Financial charges | 65/66B | €44,349 | €37,238 | -€7,111 | -16.0% |
| Recurring financial charges | 65 | €44,349 | €37,238 | -€7,111 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €100,742 | €166,564 | +€65,822 | +65.3% |
| Income taxes | 67/77 | €23,755 | €42,495 | +€18,740 | +78.9% |
| Profit (loss) for the period | 9904 | €76,987 | €124,069 | +€47,082 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,987 | €124,069 | +€47,082 | +61.2% |
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 28 October 2026 via checked.be.