A2C PRODUCT: 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.
A2C PRODUCT
Largest movements
- Stocks and contracts +€73,302
up €73,302 (+42.7%), from €171,850 to €245,152
- Receivables within one year +€36,852
up €36,852 (+21.0%), from €175,486 to €212,338
of which Trade receivables: +€32,495
- Cash -€24,355
down €24,355 (-24.7%), from €98,754 to €74,398
mainly Stocks and contracts (-€73,302) and Receivables within one year (-€36,852)
- Trade debts +€39,353
up €39,353 (+22.9%), from €171,826 to €211,180
- Profit (loss) carried forward +€30,310
up €30,310 (+13.3%), from €227,894 to €258,204
- Other debts +€19,966
new in 2025: €19,966
- Debts after one year -€13,137
down €13,137 (-24.2%), from €54,183 to €41,046
- Gross operating margin +€55,501
up €55,501 (+15.1%), from €366,752 to €422,253
- Write-downs +€36,201
new in 2025: €36,201
- Staff costs -€33,217
down €33,217 (-9.3%), from €356,868 to €323,651
- Taxes +€7,918
new in 2025: €7,918
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 | €520,000 | €600,460 | +€80,461 | +15.5% |
| Fixed assets | 21/28 | €71,183 | €68,381 | -€2,802 | -3.9% |
| Tangible fixed assets | 22/27 | €71,183 | €68,381 | -€2,802 | -3.9% |
| Plant, machinery and equipment | 23 | €67,826 | €55,146 | -€12,680 | -18.7% |
| Furniture and vehicles | 24 | €3,357 | €13,235 | +€9,878 | +294% |
| Current assets | 29/58 | €448,817 | €532,079 | +€83,263 | +18.6% |
| Stocks and contracts in progress | 3 | €171,850 | €245,152 | +€73,302 | +42.7% |
| Stocks | 30/36 | €171,850 | €245,152 | +€73,302 | +42.7% |
| Amounts receivable within one year | 40/41 | €175,486 | €212,338 | +€36,852 | +21.0% |
| Trade receivables | 40 | €161,063 | €193,558 | +€32,495 | +20.2% |
| Other amounts receivable | 41 | €14,423 | €18,780 | +€4,357 | +30.2% |
| Cash at bank and in hand | 54/58 | €98,754 | €74,398 | -€24,355 | -24.7% |
| Deferred charges and accrued income | 490/1 | €2,727 | €191 | -€2,537 | -93.0% |
| Total equity and liabilities | 10/49 | €520,000 | €600,460 | +€80,461 | +15.5% |
| Equity | 10/15 | €239,176 | €269,485 | +€30,310 | +12.7% |
| Contributions | 10/11 | €10,256 | €10,256 | = | 0.0% |
| Reserves | 13 | €1,026 | €1,026 | = | 0.0% |
| Distributable reserves | 133 | €1,026 | €1,026 | = | 0.0% |
| Profit (loss) carried forward | 14 | €227,894 | €258,204 | +€30,310 | +13.3% |
| Amounts payable | 17/49 | €280,824 | €330,975 | +€50,151 | +17.9% |
| Amounts payable after more than one year | 17 | €54,183 | €41,046 | -€13,137 | -24.2% |
| Financial debts | 170/4 | €54,183 | €41,046 | -€13,137 | -24.2% |
| Amounts payable within one year | 42/48 | €226,641 | €289,929 | +€63,288 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €12,686 | €13,137 | +€451 | +3.6% |
| Trade debts | 44 | €171,826 | €211,180 | +€39,353 | +22.9% |
| Suppliers | 440/4 | €171,826 | €211,180 | +€39,353 | +22.9% |
| Taxes, remuneration and social security | 45 | €42,129 | €45,646 | +€3,517 | +8.3% |
| Taxes | 450/3 | €10,548 | €4,200 | -€6,349 | -60.2% |
| Remuneration and social security | 454/9 | €31,581 | €41,446 | +€9,866 | +31.2% |
| Other amounts payable | 47/48 | - | €19,966 | +€19,966 | |
| Remuneration, social security and pensions | 62 | €356,868 | €323,651 | -€33,217 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,482 | €20,953 | +€2,471 | +13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €36,201 | +€36,201 | |
| Other operating charges | 640/8 | €669 | €830 | +€161 | +24.1% |
| Gross operating margin | 9900 | €366,752 | €422,253 | +€55,501 | +15.1% |
| Operating profit (loss) | 9901 | -€9,268 | €40,618 | +€49,885 | |
| Financial income | 75/76B | €290 | €1,446 | +€1,156 | +399% |
| Recurring financial income | 75 | €290 | €1,446 | +€1,156 | +399% |
| Financial charges | 65/66B | €1,577 | €3,836 | +€2,258 | +143% |
| Recurring financial charges | 65 | €1,577 | €3,836 | +€2,258 | +143% |
| Profit (loss) for the period before taxes | 9903 | -€10,555 | €38,227 | +€48,782 | |
| Income taxes | 67/77 | - | €7,918 | +€7,918 | |
| Profit (loss) for the period | 9904 | -€10,555 | €30,310 | +€40,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,555 | €30,310 | +€40,864 |
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 15 October 2026 via checked.be.