ABACUS GROUP: 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.
What changed
ABACUS GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€54.0m
2024 · €23.0m+€31.0m
Equity
€502.1m
2024 · €448.0m+€54.0m
Cash
€1.4m
2024 · €1.1m+€250,661
Balance sheet total
€545.1m
2024 · €521.0m+€24.1m
Largest movements
Assets
- Financial fixed assets +€33.7m
up €33.7m (+8.2%), from €413.4m to €447.1m
of which Other financial fixed assets: +€29.7m
- Receivables within one year -€12.5m
down €12.5m (-12.7%), from €97.9m to €85.4m
of which Other amounts receivable: -€14.5m
Equity and liabilities
- Short-term financial debts -€65.8m
down €65.8m (-92.9%), from €70.8m to €5.0m
of which Other loans: -€65.8m
- Profit (loss) carried forward +€54.0m
up €54.0m (+16.0%), from €338.4m to €392.4m
- Debts after one year +€35.4m
up €35.4m (+15,704%), from €225,348 to €35.6m
Income statement
- Financial income +€30.3m
up €30.3m (+114%), from €26.6m to €56.9m
of which Financial income: +€30.2m
- Financial charges -€1.5m
down €1.5m (-50.2%), from €3.0m to €1.5m
of which Financial charges: -€969,000
- Turnover -€1.2m
down €1.2m (-14.2%), from €8.2m to €7.1m
- Depreciation -€602,095
down €602,095 (-39.0%), from €1.5m to €940,661
- Services and other goods +€300,417
up €300,417 (+5.3%), from €5.6m to €5.9m
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.
Result 2024
€23.0m
Turnover
-€1.2m
Other operating income
+€154,185
Services and other goods
-€300,417
Staff costs
-€66,454
Depreciation
+€602,095
Other operating charges
+€2,461
Financial income
+€30.3m
Financial charges
+€1.5m
Taxes
+€9,676
Result 2025
€54.0m
raises the resultlowers the result
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.
From operations
+€64.7m
Investment
-€34.0m
Financing
-€30.4m
Cash 2024
€1.1m
From operations (derived)
+€64.7m
Net result for the year
+€54.0m
Depreciation
+€940,661
Receivables within one year
+€12.5m
Deferred charges and accrued income
-€3.2m
Trade debts
+€284,652
Tax, wage and social debts
+€186,015
Smaller working-capital items
+€36,396
Investment (derived)
-€34.0m
Investment in fixed assets (net)
-€36.5m
Current investments
+€2.5m
Financing
-€30.4m
Debts after one year
+€35.4m
Current portion of long-term debt
-€33,179
Short-term financial debts
-€65.8m
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €520,969,315 | €545,079,233 | +€24.1m | +4.6% |
| Fixed assets | 21/28 | €417,976,908 | €453,573,590 | +€35.6m | +8.5% |
| Intangible fixed assets | 21 | €233,866 | €467,451 | +€233,585 | +99.9% |
| Tangible fixed assets | 22/27 | €4,345,304 | €5,963,199 | +€1.6m | +37.2% |
| Land and buildings | 22 | €3,676,576 | €5,284,810 | +€1.6m | +43.7% |
| Plant, machinery and equipment | 23 | €334,784 | €198,660 | -€136,123 | -40.7% |
| Furniture and vehicles | 24 | €9,451 | €8,992 | -€459 | -4.9% |
| Leasing and similar rights | 25 | €260,000 | €130,000 | -€130,000 | -50.0% |
| Other tangible fixed assets | 26 | €64,493 | €62,537 | -€1,956 | -3.0% |
| Assets under construction and advance payments | 27 | - | €278,200 | +€278,200 | |
| Financial fixed assets | 28 | €413,397,738 | €447,142,940 | +€33.7m | +8.2% |
| Affiliated companies | 280/1 | €394,138,899 | €398,436,370 | +€4.3m | +1.1% |
| Participating interests | 280 | €348,533,874 | €351,063,797 | +€2.5m | +0.7% |
| Amounts receivable | 281 | €45,605,025 | €47,372,573 | +€1.8m | +3.9% |
| Companies linked by participating interests | 282/3 | €797,500 | €589,063 | -€208,438 | -26.1% |
| Participating interests | 282 | €797,500 | €589,063 | -€208,438 | -26.1% |
| Other financial fixed assets | 284/8 | €18,461,340 | €48,117,507 | +€29.7m | +161% |
| Shares | 284 | €8,334,091 | €37,990,259 | +€29.7m | +356% |
| Amounts receivable and cash guarantees | 285/8 | €10,127,248 | €10,127,248 | = | 0.0% |
| Current assets | 29/58 | €102,992,407 | €91,505,643 | -€11.5m | -11.2% |
| Amounts receivable within one year | 40/41 | €97,901,399 | €85,436,842 | -€12.5m | -12.7% |
| Trade receivables | 40 | €2,990,947 | €4,996,619 | +€2.0m | +67.1% |
| Other amounts receivable | 41 | €94,910,453 | €80,440,223 | -€14.5m | -15.2% |
| Current investments | 50/53 | €2,500,000 | €0 | -€2.5m | -100% |
| Other investments | 51/53 | €2,500,000 | €0 | -€2.5m | -100% |
| Cash at bank and in hand | 54/58 | €1,120,309 | €1,370,970 | +€250,661 | +22.4% |
| Deferred charges and accrued income | 490/1 | €1,470,698 | €4,697,830 | +€3.2m | +219% |
| Total equity and liabilities | 10/49 | €520,969,315 | €545,079,233 | +€24.1m | +4.6% |
| Equity | 10/15 | €448,034,435 | €502,054,369 | +€54.0m | +12.1% |
| Contributions | 10/11 | €99,706,170 | €99,706,170 | = | 0.0% |
| Capital | 10 | €99,706,170 | €99,706,170 | = | 0.0% |
| Issued capital | 100 | €99,706,170 | €99,706,170 | = | 0.0% |
| Reserves | 13 | €9,970,617 | €9,970,617 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,970,617 | €9,970,617 | = | 0.0% |
| Legal reserve | 130 | €9,970,617 | €9,970,617 | = | 0.0% |
| Profit (loss) carried forward | 14 | €338,357,648 | €392,377,582 | +€54.0m | +16.0% |
| Amounts payable | 17/49 | €72,934,880 | €43,024,864 | -€29.9m | -41.0% |
| Amounts payable after more than one year | 17 | €225,348 | €35,613,293 | +€35.4m | +15,704% |
| Financial debts | 170/4 | €225,348 | €35,613,293 | +€35.4m | +15,704% |
| Leasing and similar obligations | 172 | €155,795 | €9,237 | -€146,558 | -94.1% |
| Other loans | 174 | €69,553 | €35,604,056 | +€35.5m | +51,090% |
| Amounts payable within one year | 42/48 | €72,698,211 | €7,402,026 | -€65.3m | -89.8% |
| Current portion of amounts payable after more than one year | 42 | €214,514 | €181,335 | -€33,179 | -15.5% |
| Financial debts | 43 | €70,774,555 | €5,002,712 | -€65.8m | -92.9% |
| Credit institutions | 430/8 | €3,000,000 | €3,000,000 | = | 0.0% |
| Other loans | 439 | €67,774,555 | €2,002,712 | -€65.8m | -97.0% |
| Trade debts | 44 | €1,331,757 | €1,616,409 | +€284,652 | +21.4% |
| Suppliers | 440/4 | €1,331,757 | €1,616,409 | +€284,652 | +21.4% |
| Taxes, remuneration and social security | 45 | €372,320 | €558,334 | +€186,015 | +50.0% |
| Taxes | 450/3 | €114,753 | €311,416 | +€196,663 | +171% |
| Remuneration and social security | 454/9 | €257,567 | €246,918 | -€10,649 | -4.1% |
| Other amounts payable | 47/48 | €5,066 | €43,236 | +€38,170 | +753% |
| Accrued charges and deferred income | 492/3 | €11,320 | €9,546 | -€1,775 | -15.7% |
| Operating income | 70/76A | €8,412,393 | €7,400,155 | -€1.0m | -12.0% |
| Turnover | 70 | €8,232,414 | €7,065,991 | -€1.2m | -14.2% |
| Other operating income | 74 | €179,979 | €334,163 | +€154,185 | +85.7% |
| Operating charges | 60/66A | €8,877,047 | €8,639,362 | -€237,685 | -2.7% |
| Services and other goods | 61 | €5,636,058 | €5,936,475 | +€300,417 | +5.3% |
| Remuneration, social security and pensions | 62 | €1,640,431 | €1,706,885 | +€66,454 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,542,755 | €940,661 | -€602,095 | -39.0% |
| Other operating charges | 640/8 | €57,803 | €55,341 | -€2,461 | -4.3% |
| Operating profit (loss) | 9901 | -€464,654 | -€1,239,208 | -€774,553 | -167% |
| Financial income | 75/76B | €26,600,962 | €56,918,999 | +€30.3m | +114% |
| Recurring financial income | 75 | €26,412,484 | €56,586,127 | +€30.2m | +114% |
| Income from financial fixed assets | 750 | €19,244,036 | €53,620,713 | +€34.4m | +179% |
| Income from current assets | 751 | €7,168,436 | €2,965,348 | -€4.2m | -58.6% |
| Other financial income | 752/9 | €12 | €66 | +€55 | +469% |
| Non-recurring financial income | 76B | €188,478 | €332,871 | +€144,393 | +76.6% |
| Financial charges | 65/66B | €2,973,995 | €1,481,328 | -€1.5m | -50.2% |
| Recurring financial charges | 65 | €2,093,996 | €1,124,996 | -€969,000 | -46.3% |
| Debt charges | 650 | €2,092,865 | €1,124,262 | -€968,603 | -46.3% |
| Other financial charges | 652/9 | €1,131 | €734 | -€397 | -35.1% |
| Non-recurring financial charges | 66B | €879,999 | €356,332 | -€523,667 | -59.5% |
| Profit (loss) for the period before taxes | 9903 | €23,162,312 | €54,198,463 | +€31.0m | +134% |
| Income taxes | 67/77 | €188,206 | €178,529 | -€9,676 | -5.1% |
| Taxes | 670/3 | €1,101,402 | €178,529 | -€922,872 | -83.8% |
| Tax adjustments and reversals of tax provisions | 77 | €913,196 | - | -€913,196 | |
| Profit (loss) for the period | 9904 | €22,974,107 | €54,019,933 | +€31.0m | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €22,974,107 | €54,019,933 | +€31.0m | +135% |
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 17 October 2026 via checked.be.