A.C.F.: 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.F.
Largest movements
- Receivables within one year +€35,431
up €35,431 (+4.7%), from €756,450 to €791,881
of which Other amounts receivable: +€32,250
- Cash -€12,183
down €12,183 (-61.5%), from €19,812 to €7,629
mainly Receivables within one year (-€35,431) and Trade debts (-€3,351)
- Profit (loss) carried forward +€12,600
up €12,600 (+4.7%), from -€265,369 to -€252,769
- Gross operating margin +€18,927
up €18,927 (+46.7%), from -€40,524 to -€21,597
- Financial income +€8,000
up €8,000 (+27.1%), from €29,500 to €37,500
- Financial charges -€5,823
down €5,823 (-99.4%), from €5,856 to €34
of which Non-recurring financial charges: -€5,800
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 | €787,228 | €801,945 | +€14,717 | +1.9% |
| Fixed assets | 21/28 | €9,844 | €2,435 | -€7,409 | -75.3% |
| Tangible fixed assets | 22/27 | €4,509 | €2,435 | -€2,074 | -46.0% |
| Plant, machinery and equipment | 23 | €2,055 | €1,370 | -€686 | -33.4% |
| Furniture and vehicles | 24 | €2,454 | €1,065 | -€1,388 | -56.6% |
| Financial fixed assets | 28 | €5,335 | - | -€5,335 | |
| Current assets | 29/58 | €777,384 | €799,511 | +€22,126 | +2.8% |
| Amounts receivable within one year | 40/41 | €756,450 | €791,881 | +€35,431 | +4.7% |
| Trade receivables | 40 | €750,000 | €753,181 | +€3,181 | +0.4% |
| Other amounts receivable | 41 | €6,450 | €38,700 | +€32,250 | +500% |
| Cash at bank and in hand | 54/58 | €19,812 | €7,629 | -€12,183 | -61.5% |
| Deferred charges and accrued income | 490/1 | €1,122 | - | -€1,122 | |
| Total equity and liabilities | 10/49 | €787,228 | €801,945 | +€14,717 | +1.9% |
| Equity | 10/15 | €129,558 | €142,159 | +€12,600 | +9.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €294,927 | €294,927 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €284,927 | €284,927 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,369 | -€252,769 | +€12,600 | +4.7% |
| Amounts payable | 17/49 | €657,670 | €659,787 | +€2,117 | +0.3% |
| Amounts payable within one year | 42/48 | €657,670 | €653,685 | -€3,985 | -0.6% |
| Trade debts | 44 | €26,256 | €22,904 | -€3,351 | -12.8% |
| Suppliers | 440/4 | €26,256 | €22,904 | -€3,351 | -12.8% |
| Taxes, remuneration and social security | 45 | €1,345 | €781 | -€564 | -42.0% |
| Taxes | 450/3 | €1,345 | €781 | -€564 | -42.0% |
| Other amounts payable | 47/48 | €630,069 | €630,000 | -€69 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €6,102 | +€6,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,146 | €2,074 | -€72 | -3.4% |
| Other operating charges | 640/8 | €644 | €635 | -€9 | -1.4% |
| Gross operating margin | 9900 | -€40,524 | -€21,597 | +€18,927 | +46.7% |
| Operating profit (loss) | 9901 | -€43,314 | -€24,306 | +€19,009 | +43.9% |
| Financial income | 75/76B | €29,500 | €37,500 | +€8,000 | +27.1% |
| Recurring financial income | 75 | €29,500 | €37,500 | +€8,000 | +27.1% |
| Financial charges | 65/66B | €5,856 | €34 | -€5,823 | -99.4% |
| Recurring financial charges | 65 | €56 | €34 | -€23 | -40.0% |
| Non-recurring financial charges | 66B | €5,800 | - | -€5,800 | |
| Profit (loss) for the period before taxes | 9903 | -€19,671 | €13,160 | +€32,831 | |
| Income taxes | 67/77 | €512 | €560 | +€48 | +9.4% |
| Profit (loss) for the period | 9904 | -€20,183 | €12,600 | +€32,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,183 | €12,600 | +€32,783 |
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 18 October 2026 via checked.be.