A.C.E.: 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.
A.C.E.
Largest movements
- Cash +€47,923
up €47,923 (+12.4%), from €385,614 to €433,537
mainly Net result for the year (+€87,884) and Depreciation (+€29,955)
- Tangible fixed assets +€22,776
up €22,776 (+21.3%), from €106,769 to €129,545
of which Furniture and vehicles: +€44,589
- Reserves +€50,000
up €50,000 (+36.2%), from €138,033 to €188,033
of which Distributable reserves: +€50,000
- Profit (loss) carried forward +€37,884
up €37,884 (+15.8%), from €240,030 to €277,914
- Other debts -€7,967
no longer reported in 2025 (was €7,967)
- Turnover +€150,390
up €150,390 (+39.8%), from €377,731 to €528,121
- Gross operating margin +€86,932
up €86,932 (+88.1%), from €98,727 to €185,658
- Purchases and services +€56,726
up €56,726 (+19.4%), from €292,049 to €348,775
- Taxes +€17,943
up €17,943 (+358.8%), from €5,001 to €22,944
- Staff costs +€12,184
up €12,184 (+44.3%), from €27,504 to €39,688
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 | €514,530 | €589,361 | +€74,831 | +14.5% |
| Fixed assets | 21/28 | €106,769 | €129,545 | +€22,776 | +21.3% |
| Tangible fixed assets | 22/27 | €106,769 | €129,545 | +€22,776 | +21.3% |
| Land and buildings | 22 | €28,144 | €25,139 | -€3,005 | -10.7% |
| Plant, machinery and equipment | 23 | €74,629 | €55,820 | -€18,809 | -25.2% |
| Furniture and vehicles | 24 | €3,997 | €48,586 | +€44,589 | +1115.6% |
| Current assets | 29/58 | €407,761 | €459,816 | +€52,055 | +12.8% |
| Stocks and contracts in progress | 3 | €3,300 | €3,000 | -€300 | -9.1% |
| Stocks | 30/36 | €3,300 | €3,000 | -€300 | -9.1% |
| Amounts receivable within one year | 40/41 | €16,238 | €20,413 | +€4,175 | +25.7% |
| Trade receivables | 40 | €3,431 | €5,780 | +€2,350 | +68.5% |
| Other amounts receivable | 41 | €12,807 | €14,633 | +€1,825 | +14.3% |
| Cash at bank and in hand | 54/58 | €385,614 | €433,537 | +€47,923 | +12.4% |
| Deferred charges and accrued income | 490/1 | €2,609 | €2,866 | +€258 | +9.9% |
| Total equity and liabilities | 10/49 | €514,530 | €589,361 | +€74,831 | +14.5% |
| Equity | 10/15 | €440,063 | €527,947 | +€87,884 | +20.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €138,033 | €188,033 | +€50,000 | +36.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €123,333 | €173,333 | +€50,000 | +40.5% |
| Profit (loss) carried forward | 14 | €240,030 | €277,914 | +€37,884 | +15.8% |
| Amounts payable | 17/49 | €74,467 | €61,413 | -€13,054 | -17.5% |
| Amounts payable after more than one year | 17 | - | €906 | +€906 | |
| Financial debts | 170/4 | - | €906 | +€906 | |
| Amounts payable within one year | 42/48 | €72,155 | €60,507 | -€11,647 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,309 | +€5,309 | |
| Trade debts | 44 | €57,787 | €53,932 | -€3,855 | -6.7% |
| Suppliers | 440/4 | €57,787 | €53,932 | -€3,855 | -6.7% |
| Advances received on contracts in progress | 46 | €1,680 | - | -€1,680 | |
| Taxes, remuneration and social security | 45 | €4,721 | €1,267 | -€3,454 | -73.2% |
| Remuneration and social security | 454/9 | €4,721 | €1,267 | -€3,454 | -73.2% |
| Other amounts payable | 47/48 | €7,967 | - | -€7,967 | |
| Accrued charges and deferred income | 492/3 | €2,312 | - | -€2,312 | |
| Turnover | 70 | €377,731 | €528,121 | +€150,390 | +39.8% |
| Non-recurring operating income | 76A | €13,410 | €1,612 | -€11,798 | -88.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €292,049 | €348,775 | +€56,726 | +19.4% |
| Remuneration, social security and pensions | 62 | €27,504 | €39,688 | +€12,184 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,706 | €29,955 | +€9,250 | +44.7% |
| Other operating charges | 640/8 | €4,295 | €4,955 | +€660 | +15.4% |
| Non-recurring operating charges | 66A | €1,281 | €202 | -€1,080 | -84.2% |
| Gross operating margin | 9900 | €98,727 | €185,658 | +€86,932 | +88.1% |
| Operating profit (loss) | 9901 | €44,941 | €110,859 | +€65,917 | +146.7% |
| Financial income | 75/76B | €492 | €1,295 | +€804 | +163.4% |
| Recurring financial income | 75 | €492 | €1,295 | +€804 | +163.4% |
| Financial charges | 65/66B | €13,365 | €1,326 | -€12,040 | -90.1% |
| Recurring financial charges | 65 | €13,365 | €1,326 | -€12,040 | -90.1% |
| Profit (loss) for the period before taxes | 9903 | €32,068 | €110,828 | +€78,760 | +245.6% |
| Income taxes | 67/77 | €5,001 | €22,944 | +€17,943 | +358.8% |
| Profit (loss) for the period | 9904 | €27,067 | €87,884 | +€60,817 | +224.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,067 | €87,884 | +€60,817 | +224.7% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.