A.C.: 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.
A.C.
Largest movements
- Cash +€61,925
up €61,925 (+29.4%), from €210,712 to €272,637
mainly Depreciation (+€24,561) and Net result for the year (+€20,089)
- Tangible fixed assets -€20,838
down €20,838 (-9.0%), from €231,314 to €210,476
of which Furniture and vehicles: -€15,431
- Reserves +€20,000
up €20,000 (+11.3%), from €177,425 to €197,425
- Debts after one year -€13,579
down €13,579 (-8.6%), from €157,702 to €144,123
- Trade debts +€12,773
up €12,773 (+133.0%), from €9,604 to €22,376
- Other debts +€12,589
up €12,589 (+34.5%), from €36,453 to €49,042
- Tax, wage and social debts +€7,239
up €7,239 (+496.7%), from €1,457 to €8,696
- Gross operating margin +€38,387
up €38,387 (+156.9%), from €24,468 to €62,855
- Taxes +€4,031
up €4,031 (+2889.0%), from €140 to €4,170
- Depreciation +€2,283
up €2,283 (+10.2%), from €22,278 to €24,561
- Financial charges +€1,705
up €1,705 (+18.4%), from €9,265 to €10,970
of which Non-recurring financial charges: +€1,025
- Other operating charges -€897
down €897 (-22.6%), from €3,963 to €3,066
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €459,131 | €498,204 | +€39,073 | +8.5% |
| Fixed assets | 21/28 | €231,314 | €210,476 | -€20,838 | -9.0% |
| Tangible fixed assets | 22/27 | €231,314 | €210,476 | -€20,838 | -9.0% |
| Land and buildings | 22 | €195,549 | €190,142 | -€5,407 | -2.8% |
| Furniture and vehicles | 24 | €33,965 | €18,534 | -€15,431 | -45.4% |
| Other tangible fixed assets | 26 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €227,817 | €287,728 | +€59,912 | +26.3% |
| Amounts receivable within one year | 40/41 | €3,393 | €1,409 | -€1,984 | -58.5% |
| Trade receivables | 40 | €3,179 | €1,356 | -€1,823 | -57.3% |
| Other amounts receivable | 41 | €214 | €53 | -€161 | -75.1% |
| Current investments | 50/53 | €10,140 | €10,140 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €210,712 | €272,637 | +€61,925 | +29.4% |
| Deferred charges and accrued income | 490/1 | €3,571 | €3,542 | -€29 | -0.8% |
| Total equity and liabilities | 10/49 | €459,131 | €498,204 | +€39,073 | +8.5% |
| Equity | 10/15 | €237,589 | €257,678 | +€20,089 | +8.5% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €177,425 | €197,425 | +€20,000 | +11.3% |
| Distributable reserves | 133 | €177,425 | €197,425 | +€20,000 | +11.3% |
| Profit (loss) carried forward | 14 | €39,713 | €39,801 | +€89 | +0.2% |
| Amounts payable | 17/49 | €221,541 | €240,526 | +€18,985 | +8.6% |
| Amounts payable after more than one year | 17 | €157,702 | €144,123 | -€13,579 | -8.6% |
| Financial debts | 170/4 | €157,702 | €144,123 | -€13,579 | -8.6% |
| Amounts payable within one year | 42/48 | €60,563 | €93,693 | +€33,131 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €13,049 | €13,579 | +€530 | +4.1% |
| Trade debts | 44 | €9,604 | €22,376 | +€12,773 | +133.0% |
| Suppliers | 440/4 | €9,604 | €22,376 | +€12,773 | +133.0% |
| Taxes, remuneration and social security | 45 | €1,457 | €8,696 | +€7,239 | +496.7% |
| Taxes | 450/3 | €1,457 | €8,696 | +€7,239 | +496.7% |
| Other amounts payable | 47/48 | €36,453 | €49,042 | +€12,589 | +34.5% |
| Accrued charges and deferred income | 492/3 | €3,277 | €2,709 | -€568 | -17.3% |
| Non-recurring operating income | 76A | €3,100 | - | -€3,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,278 | €24,561 | +€2,283 | +10.2% |
| Other operating charges | 640/8 | €3,963 | €3,066 | -€897 | -22.6% |
| Gross operating margin | 9900 | €24,468 | €62,855 | +€38,387 | +156.9% |
| Operating profit (loss) | 9901 | -€1,773 | €35,228 | +€37,001 | |
| Financial income | 75/76B | €3 | €1 | -€2 | -79.3% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -79.3% |
| Financial charges | 65/66B | €9,265 | €10,970 | +€1,705 | +18.4% |
| Recurring financial charges | 65 | €9,265 | €9,945 | +€680 | +7.3% |
| Non-recurring financial charges | 66B | - | €1,025 | +€1,025 | |
| Profit (loss) for the period before taxes | 9903 | -€11,035 | €24,259 | +€35,294 | |
| Income taxes | 67/77 | €140 | €4,170 | +€4,031 | +2889.0% |
| Profit (loss) for the period | 9904 | -€11,175 | €20,089 | +€31,264 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,175 | €20,089 | +€31,264 |
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 9 October 2026 via checked.be.