AC+: 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.
AC+
Largest movements
- Receivables within one year +€83,337
up €83,337 (+39.0%), from €213,587 to €296,923
of which Other amounts receivable: +€93,963
- Cash -€29,410
down €29,410 (-80.0%), from €36,755 to €7,345
mainly Contributions, distributions and other (-€239,748) and Receivables within one year (-€83,337)
- Tangible fixed assets +€15,596
up €15,596 (+56.7%), from €27,515 to €43,111
- Other debts +€39,641
up €39,641 (+17.7%), from €223,403 to €263,044
- Debts after one year +€17,700
new in 2025: €17,700
- Trade debts +€10,111
up €10,111 (+107%), from €9,488 to €19,599
- Tax, wage and social debts -€7,246
down €7,246 (-41.8%), from €17,349 to €10,103
of which Remuneration and social security: -€5,421
- Current portion of long-term debt +€5,837
new in 2025: €5,837
- Gross operating margin +€23,309
up €23,309 (+5.6%), from €417,994 to €441,303
- Financial charges -€8,513
down €8,513 (-81.3%), from €10,471 to €1,958
- Write-downs -€5,810
down €5,810, from €4,115 to -€1,696
- Staff costs -€5,509
down €5,509 (-2.8%), from €193,601 to €188,092
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 | €286,184 | €355,821 | +€69,637 | +24.3% |
| Fixed assets | 21/28 | €28,052 | €43,286 | +€15,234 | +54.3% |
| Intangible fixed assets | 21 | €362 | €0 | -€362 | -100% |
| Tangible fixed assets | 22/27 | €27,515 | €43,111 | +€15,596 | +56.7% |
| Furniture and vehicles | 24 | €27,515 | €43,111 | +€15,596 | +56.7% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €258,132 | €312,535 | +€54,403 | +21.1% |
| Amounts receivable within one year | 40/41 | €213,587 | €296,923 | +€83,337 | +39.0% |
| Trade receivables | 40 | €86,983 | €76,357 | -€10,626 | -12.2% |
| Other amounts receivable | 41 | €126,604 | €220,566 | +€93,963 | +74.2% |
| Cash at bank and in hand | 54/58 | €36,755 | €7,345 | -€29,410 | -80.0% |
| Deferred charges and accrued income | 490/1 | €7,791 | €8,267 | +€476 | +6.1% |
| Total equity and liabilities | 10/49 | €286,184 | €355,821 | +€69,637 | +24.3% |
| Equity | 10/15 | €35,932 | €39,525 | +€3,593 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €703 | €703 | = | 0.0% |
| Non-distributable reserves | 130/1 | €703 | €703 | = | 0.0% |
| Reserves not available under the articles | 1311 | €703 | €703 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,628 | €20,221 | +€3,593 | +21.6% |
| Amounts payable | 17/49 | €250,253 | €316,297 | +€66,044 | +26.4% |
| Amounts payable after more than one year | 17 | - | €17,700 | +€17,700 | |
| Financial debts | 170/4 | - | €17,700 | +€17,700 | |
| Amounts payable within one year | 42/48 | €250,240 | €298,584 | +€48,344 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,837 | +€5,837 | |
| Trade debts | 44 | €9,488 | €19,599 | +€10,111 | +107% |
| Suppliers | 440/4 | €9,488 | €19,599 | +€10,111 | +107% |
| Taxes, remuneration and social security | 45 | €17,349 | €10,103 | -€7,246 | -41.8% |
| Taxes | 450/3 | €2,280 | €455 | -€1,825 | -80.0% |
| Remuneration and social security | 454/9 | €15,069 | €9,648 | -€5,421 | -36.0% |
| Other amounts payable | 47/48 | €223,403 | €263,044 | +€39,641 | +17.7% |
| Accrued charges and deferred income | 492/3 | €13 | €13 | = | 0.0% |
| Non-recurring operating income | 76A | €53 | €0 | -€53 | -100% |
| Remuneration, social security and pensions | 62 | €193,601 | €188,092 | -€5,509 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,345 | €9,257 | +€2,911 | +45.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,115 | -€1,696 | -€5,810 | |
| Other operating charges | 640/8 | €1,354 | €2,374 | +€1,020 | +75.3% |
| Gross operating margin | 9900 | €417,994 | €441,303 | +€23,309 | +5.6% |
| Operating profit (loss) | 9901 | €212,579 | €243,275 | +€30,696 | +14.4% |
| Financial income | 75/76B | €3,422 | €3,102 | -€320 | -9.4% |
| Recurring financial income | 75 | €3,422 | €3,102 | -€320 | -9.4% |
| Financial charges | 65/66B | €10,471 | €1,958 | -€8,513 | -81.3% |
| Recurring financial charges | 65 | €10,471 | €1,958 | -€8,513 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €205,531 | €244,420 | +€38,889 | +18.9% |
| Income taxes | 67/77 | €1,441 | €1,078 | -€363 | -25.2% |
| Profit (loss) for the period | 9904 | €204,089 | €243,341 | +€39,252 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €204,089 | €243,341 | +€39,252 | +19.2% |
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 31 October 2026 via checked.be.