AC NET: 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.
AC NET
Largest movements
- Cash -€31,961
down €31,961 (-55.8%), from €57,272 to €25,311
mainly Net result for the year (-€19,597) and Receivables within one year (-€14,748)
- Tangible fixed assets -€27,468
down €27,468 (-23.6%), from €116,294 to €88,826
of which Furniture and vehicles: -€15,220
- Receivables within one year +€14,748
up €14,748 (+79.1%), from €18,646 to €33,394
of which Trade receivables: +€17,514
- Deferred charges and accrued income +€10,155
up €10,155 (+179.0%), from €5,674 to €15,829
- Stocks and contracts +€4,067
up €4,067 (+99.9%), from €4,071 to €8,138
- Profit (loss) carried forward -€19,597
down €19,597 (-19.9%), from €98,377 to €78,780
- Trade debts +€15,528
up €15,528 (+157.7%), from €9,844 to €25,372
- Debts after one year -€14,420
down €14,420 (-53.4%), from €26,980 to €12,560
- Current portion of long-term debt -€10,781
down €10,781 (-41.9%), from €25,713 to €14,933
- Turnover -€21,654
down €21,654 (-7.5%), from €289,770 to €268,116
- Purchases and services -€19,934
down €19,934 (-11.5%), from €172,630 to €152,695
- Depreciation -€10,433
down €10,433 (-33.7%), from €30,999 to €20,566
- Other operating charges +€6,729
up €6,729 (+133.6%), from €5,036 to €11,765
- Gross operating margin -€3,641
down €3,641 (-2.7%), from €136,922 to €133,281
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 | €202,058 | €172,199 | -€29,859 | -14.8% |
| Fixed assets | 21/28 | €116,394 | €89,526 | -€26,868 | -23.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €116,294 | €88,826 | -€27,468 | -23.6% |
| Land and buildings | 22 | €51,573 | €44,346 | -€7,227 | -14.0% |
| Plant, machinery and equipment | 23 | €49,502 | €38,483 | -€11,019 | -22.3% |
| Furniture and vehicles | 24 | €15,220 | €0 | -€15,220 | -100.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €5,997 | +€5,997 | |
| Financial fixed assets | 28 | €100 | €700 | +€600 | +600.0% |
| Current assets | 29/58 | €85,663 | €82,672 | -€2,991 | -3.5% |
| Stocks and contracts in progress | 3 | €4,071 | €8,138 | +€4,067 | +99.9% |
| Stocks | 30/36 | €4,071 | €8,138 | +€4,067 | +99.9% |
| Amounts receivable within one year | 40/41 | €18,646 | €33,394 | +€14,748 | +79.1% |
| Trade receivables | 40 | €4,165 | €21,679 | +€17,514 | +420.5% |
| Other amounts receivable | 41 | €14,481 | €11,715 | -€2,766 | -19.1% |
| Cash at bank and in hand | 54/58 | €57,272 | €25,311 | -€31,961 | -55.8% |
| Deferred charges and accrued income | 490/1 | €5,674 | €15,829 | +€10,155 | +179.0% |
| Total equity and liabilities | 10/49 | €202,058 | €172,199 | -€29,859 | -14.8% |
| Equity | 10/15 | €129,700 | €108,741 | -€20,959 | -16.2% |
| Contributions | 10/11 | €11,310 | €11,310 | = | 0.0% |
| Reserves | 13 | €17,970 | €17,970 | = | 0.0% |
| Distributable reserves | 133 | €17,970 | €17,970 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,377 | €78,780 | -€19,597 | -19.9% |
| Investment grants | 15 | €2,043 | €681 | -€1,362 | -66.7% |
| Amounts payable | 17/49 | €72,358 | €63,458 | -€8,900 | -12.3% |
| Amounts payable after more than one year | 17 | €26,980 | €12,560 | -€14,420 | -53.4% |
| Financial debts | 170/4 | €26,980 | €12,560 | -€14,420 | -53.4% |
| Amounts payable within one year | 42/48 | €45,378 | €50,898 | +€5,520 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €25,713 | €14,933 | -€10,781 | -41.9% |
| Trade debts | 44 | €9,844 | €25,372 | +€15,528 | +157.7% |
| Suppliers | 440/4 | €9,844 | €25,372 | +€15,528 | +157.7% |
| Taxes, remuneration and social security | 45 | €9,820 | €10,593 | +€773 | +7.9% |
| Taxes | 450/3 | €2,069 | €0 | -€2,069 | -100.0% |
| Remuneration and social security | 454/9 | €7,751 | €10,593 | +€2,842 | +36.7% |
| Turnover | 70 | €289,770 | €268,116 | -€21,654 | -7.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €172,630 | €152,695 | -€19,934 | -11.5% |
| Remuneration, social security and pensions | 62 | €115,635 | €117,882 | +€2,248 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,999 | €20,566 | -€10,433 | -33.7% |
| Other operating charges | 640/8 | €5,036 | €11,765 | +€6,729 | +133.6% |
| Gross operating margin | 9900 | €136,922 | €133,281 | -€3,641 | -2.7% |
| Operating profit (loss) | 9901 | -€14,748 | -€16,933 | -€2,185 | -14.8% |
| Financial income | 75/76B | €2,191 | €1,933 | -€257 | -11.7% |
| Recurring financial income | 75 | €2,191 | €1,933 | -€257 | -11.7% |
| Financial charges | 65/66B | €3,695 | €4,236 | +€541 | +14.6% |
| Recurring financial charges | 65 | €3,695 | €4,236 | +€541 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,253 | -€19,235 | -€2,983 | -18.4% |
| Income taxes | 67/77 | €570 | €362 | -€207 | -36.4% |
| Profit (loss) for the period | 9904 | -€16,822 | -€19,597 | -€2,775 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,822 | -€19,597 | -€2,775 | -16.5% |
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 2 October 2026 via checked.be.