AC A.V.: 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 A.V.
Largest movements
- Current investments +€278,550
up €278,550 (+376.9%), from €73,914 to €352,463
- Cash -€168,147
down €168,147 (-64.6%), from €260,190 to €92,043
mainly Current investments (-€278,550) and Receivables within one year (-€120,376)
- Receivables within one year +€120,376
up €120,376 (+85.1%), from €141,434 to €261,810
of which Trade receivables: +€127,831
- Tangible fixed assets -€11,799
down €11,799 (-27.0%), from €43,707 to €31,907
- Reserves +€270,241
up €270,241 (+68.0%), from €397,497 to €667,737
of which Distributable reserves: +€143,941
- Debts after one year -€27,289
down €27,289 (-36.2%), from €75,474 to €48,184
- Tax, wage and social debts -€19,098
down €19,098 (-26.4%), from €72,261 to €53,163
- Gross operating margin +€138,111
up €138,111 (+52.9%), from €260,907 to €399,018
- Taxes +€31,279
up €31,279 (+36.8%), from €84,969 to €116,248
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 | €892,737 | €1,111,781 | +€219,044 | +24.5% |
| Fixed assets | 21/28 | €416,052 | €404,252 | -€11,799 | -2.8% |
| Tangible fixed assets | 22/27 | €43,707 | €31,907 | -€11,799 | -27.0% |
| Furniture and vehicles | 24 | €43,707 | €31,907 | -€11,799 | -27.0% |
| Financial fixed assets | 28 | €372,345 | €372,345 | = | 0.0% |
| Current assets | 29/58 | €476,685 | €707,529 | +€230,844 | +48.4% |
| Amounts receivable within one year | 40/41 | €141,434 | €261,810 | +€120,376 | +85.1% |
| Trade receivables | 40 | €133,979 | €261,810 | +€127,831 | +95.4% |
| Other amounts receivable | 41 | €7,455 | €0 | -€7,455 | -100.0% |
| Current investments | 50/53 | €73,914 | €352,463 | +€278,550 | +376.9% |
| Cash at bank and in hand | 54/58 | €260,190 | €92,043 | -€168,147 | -64.6% |
| Deferred charges and accrued income | 490/1 | €1,147 | €1,212 | +€65 | +5.7% |
| Total equity and liabilities | 10/49 | €892,737 | €1,111,781 | +€219,044 | +24.5% |
| Equity | 10/15 | €676,377 | €946,617 | +€270,241 | +40.0% |
| Contributions | 10/11 | €278,880 | €278,880 | = | 0.0% |
| Reserves | 13 | €397,497 | €667,737 | +€270,241 | +68.0% |
| Tax-exempt reserves | 132 | - | €126,300 | +€126,300 | |
| Distributable reserves | 133 | €397,497 | €541,437 | +€143,941 | +36.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €216,360 | €165,164 | -€51,196 | -23.7% |
| Amounts payable after more than one year | 17 | €75,474 | €48,184 | -€27,289 | -36.2% |
| Financial debts | 170/4 | €75,474 | €48,184 | -€27,289 | -36.2% |
| Amounts payable within one year | 42/48 | €138,762 | €115,001 | -€23,761 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €37,239 | €28,954 | -€8,285 | -22.2% |
| Trade debts | 44 | €3,091 | €3,179 | +€88 | +2.8% |
| Suppliers | 440/4 | €3,091 | €3,179 | +€88 | +2.8% |
| Taxes, remuneration and social security | 45 | €72,261 | €53,163 | -€19,098 | -26.4% |
| Taxes | 450/3 | €72,261 | €53,163 | -€19,098 | -26.4% |
| Other amounts payable | 47/48 | €26,170 | €29,704 | +€3,534 | +13.5% |
| Accrued charges and deferred income | 492/3 | €2,124 | €1,978 | -€146 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,799 | €11,799 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,237 | €1,190 | -€47 | -3.8% |
| Gross operating margin | 9900 | €260,907 | €399,018 | +€138,111 | +52.9% |
| Operating profit (loss) | 9901 | €247,871 | €386,029 | +€138,158 | +55.7% |
| Financial income | 75/76B | €5,325 | €4,366 | -€959 | -18.0% |
| Recurring financial income | 75 | €5,325 | €4,366 | -€959 | -18.0% |
| Financial charges | 65/66B | €3,642 | €2,240 | -€1,402 | -38.5% |
| Recurring financial charges | 65 | €3,642 | €2,240 | -€1,402 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €249,554 | €388,155 | +€138,601 | +55.5% |
| Income taxes | 67/77 | €84,969 | €116,248 | +€31,279 | +36.8% |
| Profit (loss) for the period | 9904 | €164,585 | €271,907 | +€107,321 | +65.2% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €164,585 | €145,607 | -€18,979 | -11.5% |
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 11 October 2026 via checked.be.