ABCDECO: 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.
ABCDECO
Largest movements
- Receivables within one year +€45,818
up €45,818 (+11.0%), from €417,312 to €463,130
of which Trade receivables: +€39,521
- Cash -€22,311
down €22,311 (-31.5%), from €70,911 to €48,599
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€45,818)
- Tangible fixed assets +€11,186
up €11,186 (+16.3%), from €68,515 to €79,701
- Tax, wage and social debts +€47,006
up €47,006 (+95.1%), from €49,443 to €96,449
of which Taxes: +€66,785
- Profit (loss) carried forward +€42,089
up €42,089 (+16.5%), from €255,328 to €297,418
- Advances received -€37,474
no longer reported in 2025 (was €37,474)
- Trade debts -€34,828
down €34,828 (-18.3%), from €190,347 to €155,519
- Other debts +€17,900
up €17,900 (+55.8%), from €32,100 to €50,000
- Other operating charges -€84,284
down €84,284 (-93.6%), from €90,045 to €5,762
- Staff costs -€44,570
down €44,570 (-38.1%), from €116,967 to €72,397
- Gross operating margin -€37,645
down €37,645 (-13.5%), from €279,115 to €241,471
- Taxes +€35,914
up €35,914 (+157.4%), from €22,815 to €58,728
- Financial income -€18,331
down €18,331 (-86.4%), from €21,216 to €2,885
of which Financial income: -€18,494
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 | €574,612 | €609,305 | +€34,693 | +6.0% |
| Fixed assets | 21/28 | €86,390 | €97,576 | +€11,186 | +12.9% |
| Tangible fixed assets | 22/27 | €68,515 | €79,701 | +€11,186 | +16.3% |
| Furniture and vehicles | 24 | €68,515 | €79,701 | +€11,186 | +16.3% |
| Financial fixed assets | 28 | €17,875 | €17,875 | = | 0.0% |
| Current assets | 29/58 | €488,223 | €511,729 | +€23,507 | +4.8% |
| Amounts receivable within one year | 40/41 | €417,312 | €463,130 | +€45,818 | +11.0% |
| Trade receivables | 40 | €199,543 | €239,065 | +€39,521 | +19.8% |
| Other amounts receivable | 41 | €217,768 | €224,065 | +€6,297 | +2.9% |
| Cash at bank and in hand | 54/58 | €70,911 | €48,599 | -€22,311 | -31.5% |
| Total equity and liabilities | 10/49 | €574,612 | €609,305 | +€34,693 | +6.0% |
| Equity | 10/15 | €265,248 | €307,338 | +€42,089 | +15.9% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €255,328 | €297,418 | +€42,089 | +16.5% |
| Amounts payable | 17/49 | €309,364 | €301,968 | -€7,396 | -2.4% |
| Amounts payable within one year | 42/48 | €309,364 | €301,968 | -€7,396 | -2.4% |
| Trade debts | 44 | €190,347 | €155,519 | -€34,828 | -18.3% |
| Suppliers | 440/4 | €190,347 | €155,519 | -€34,828 | -18.3% |
| Advances received on contracts in progress | 46 | €37,474 | - | -€37,474 | |
| Taxes, remuneration and social security | 45 | €49,443 | €96,449 | +€47,006 | +95.1% |
| Taxes | 450/3 | €22,032 | €88,817 | +€66,785 | +303.1% |
| Remuneration and social security | 454/9 | €27,411 | €7,632 | -€19,779 | -72.2% |
| Other amounts payable | 47/48 | €32,100 | €50,000 | +€17,900 | +55.8% |
| Remuneration, social security and pensions | 62 | €116,967 | €72,397 | -€44,570 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,337 | €14,804 | +€11,466 | +343.6% |
| Other operating charges | 640/8 | €90,045 | €5,762 | -€84,284 | -93.6% |
| Non-recurring operating charges | 66A | €252 | - | -€252 | |
| Gross operating margin | 9900 | €279,115 | €241,471 | -€37,645 | -13.5% |
| Operating profit (loss) | 9901 | €68,514 | €148,509 | +€79,995 | +116.8% |
| Financial income | 75/76B | €21,216 | €2,885 | -€18,331 | -86.4% |
| Recurring financial income | 75 | €21,216 | €2,721 | -€18,494 | -87.2% |
| Non-recurring financial income | 76B | - | €163 | +€163 | |
| Financial charges | 65/66B | €2,238 | €576 | -€1,662 | -74.3% |
| Recurring financial charges | 65 | €242 | €576 | +€334 | +137.7% |
| Non-recurring financial charges | 66B | €1,996 | - | -€1,996 | |
| Profit (loss) for the period before taxes | 9903 | €87,491 | €150,817 | +€63,326 | +72.4% |
| Income taxes | 67/77 | €22,815 | €58,728 | +€35,914 | +157.4% |
| Profit (loss) for the period | 9904 | €64,677 | €92,089 | +€27,413 | +42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,677 | €92,089 | +€27,413 | +42.4% |
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 7 October 2026 via checked.be.