ACADEM: 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.
ACADEM
Largest movements
- Stocks and contracts +€63,139
up €63,139 (+18.9%), from €333,717 to €396,856
- Tangible fixed assets +€52,549
up €52,549 (+29.2%), from €179,713 to €232,262
of which Furniture and vehicles: +€41,561
- Receivables within one year -€37,730
down €37,730 (-19.0%), from €198,896 to €161,166
- Cash -€18,114
down €18,114 (-22.7%), from €79,904 to €61,790
mainly Investment in fixed assets (net) (-€104,781) and Contributions, distributions and other (-€79,200)
- Profit (loss) carried forward +€15,763
up €15,763 (+2732.5%), from €577 to €16,340
- Debts after one year +€15,116
up €15,116 (+15.4%), from €98,074 to €113,190
- Current portion of long-term debt +€13,854
up €13,854 (+43.4%), from €31,931 to €45,785
- Tax, wage and social debts +€12,334
up €12,334 (+9.5%), from €129,745 to €142,079
of which Remuneration and social security: +€12,367
- Gross operating margin +€98,810
up €98,810 (+12.1%), from €816,741 to €915,550
- Staff costs +€70,385
up €70,385 (+10.8%), from €654,085 to €724,470
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 | €792,229 | €852,074 | +€59,845 | +7.6% |
| Fixed assets | 21/28 | €179,713 | €232,262 | +€52,549 | +29.2% |
| Tangible fixed assets | 22/27 | €179,713 | €232,262 | +€52,549 | +29.2% |
| Plant, machinery and equipment | 23 | €28,296 | €39,285 | +€10,989 | +38.8% |
| Furniture and vehicles | 24 | €151,417 | €192,977 | +€41,561 | +27.4% |
| Current assets | 29/58 | €612,517 | €619,812 | +€7,295 | +1.2% |
| Stocks and contracts in progress | 3 | €333,717 | €396,856 | +€63,139 | +18.9% |
| Contracts in progress | 37 | €333,717 | €396,856 | +€63,139 | +18.9% |
| Amounts receivable within one year | 40/41 | €198,896 | €161,166 | -€37,730 | -19.0% |
| Trade receivables | 40 | €198,896 | €161,166 | -€37,730 | -19.0% |
| Cash at bank and in hand | 54/58 | €79,904 | €61,790 | -€18,114 | -22.7% |
| Total equity and liabilities | 10/49 | €792,229 | €852,074 | +€59,845 | +7.6% |
| Equity | 10/15 | €103,537 | €119,300 | +€15,763 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,360 | €84,360 | = | 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% |
| Tax-exempt reserves | 132 | €82,500 | €82,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €577 | €16,340 | +€15,763 | +2732.5% |
| Amounts payable | 17/49 | €688,692 | €732,774 | +€44,082 | +6.4% |
| Amounts payable after more than one year | 17 | €98,074 | €113,190 | +€15,116 | +15.4% |
| Financial debts | 170/4 | €98,074 | €113,190 | +€15,116 | +15.4% |
| Amounts payable within one year | 42/48 | €588,639 | €619,584 | +€30,945 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €31,931 | €45,785 | +€13,854 | +43.4% |
| Trade debts | 44 | €351,657 | €352,520 | +€863 | +0.2% |
| Suppliers | 440/4 | €351,657 | €352,520 | +€863 | +0.2% |
| Taxes, remuneration and social security | 45 | €129,745 | €142,079 | +€12,334 | +9.5% |
| Taxes | 450/3 | €3,233 | €3,200 | -€33 | -1.0% |
| Remuneration and social security | 454/9 | €126,513 | €138,879 | +€12,367 | +9.8% |
| Other amounts payable | 47/48 | €75,305 | €79,200 | +€3,895 | +5.2% |
| Accrued charges and deferred income | 492/3 | €1,980 | - | -€1,980 | |
| Remuneration, social security and pensions | 62 | €654,085 | €724,470 | +€70,385 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,732 | €52,231 | +€1,500 | +3.0% |
| Other operating charges | 640/8 | €724 | €1,795 | +€1,072 | +148.1% |
| Gross operating margin | 9900 | €816,741 | €915,550 | +€98,810 | +12.1% |
| Operating profit (loss) | 9901 | €111,200 | €137,053 | +€25,853 | +23.2% |
| Financial income | 75/76B | €54 | €237 | +€183 | +338.9% |
| Recurring financial income | 75 | €54 | €237 | +€183 | +338.9% |
| Financial charges | 65/66B | €6,110 | €6,078 | -€32 | -0.5% |
| Recurring financial charges | 65 | €6,110 | €6,078 | -€32 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €105,145 | €131,213 | +€26,068 | +24.8% |
| Income taxes | 67/77 | €30,196 | €36,250 | +€6,054 | +20.0% |
| Profit (loss) for the period | 9904 | €74,948 | €94,963 | +€20,015 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,948 | €94,963 | +€20,015 | +26.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.