ACALIN: 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.
What changed
ACALIN
NACE 46.820, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€27,210
2024 · €134,215-€107,004
Equity
€4.4m
2024 · €4.4m+€27,210
Cash
€536,666
2024 · €542,514-€5,848
Balance sheet total
€7.4m
2024 · €6.5m+€950,103
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+157.0%), from €858,911 to €2.2m
of which Land and buildings: +€2.0m
- Receivables after one year -€500,434
down €500,434 (-33.4%), from €1.5m to €1.0m
- Stocks and contracts +€168,528
up €168,528 (+8.8%), from €1.9m to €2.1m
- Receivables within one year -€110,087
down €110,087 (-6.8%), from €1.6m to €1.5m
of which Trade receivables: -€111,154
Equity and liabilities
- Short-term financial debts +€900,000
new in 2025: €900,000
- Trade debts -€709,208
down €709,208 (-47.4%), from €1.5m to €788,062
- Debts after one year +€695,862
up €695,862 (+218.2%), from €318,928 to €1.0m
Income statement
- Staff costs +€176,693
up €176,693 (+20.4%), from €865,844 to €1.0m
- Taxes -€46,448
down €46,448 (-86.7%), from €53,554 to €7,106
- Gross operating margin +€37,797
up €37,797 (+3.2%), from €1.2m to €1.2m
- Depreciation +€29,463
up €29,463 (+37.3%), from €79,069 to €108,532
- Other operating charges +€16,003
up €16,003 (+68.2%), from €23,473 to €39,476
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.
Result 2024
€134,215
Gross operating margin
+€37,797
Staff costs
-€176,693
Depreciation
-€29,463
Other operating charges
-€16,003
Financial income
+€14,970
Financial charges
+€15,939
Taxes
+€46,448
Result 2025
€27,210
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.
From operations
-€142,898
Investment
-€1.5m
Financing
+€1.6m
Cash 2024
€542,514
From operations (derived)
-€142,898
Net result for the year
+€27,210
Depreciation
+€108,532
Receivables after one year
+€500,434
Stocks and contracts
-€168,528
Receivables within one year
+€110,087
Deferred charges and accrued income
-€8,443
Trade debts
-€709,208
Tax, wage and social debts
+€41,034
Other debts
-€50,000
Accrued charges and deferred income
+€5,985
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€1.6m
Debts after one year
+€695,862
Current portion of long-term debt
+€39,220
Short-term financial debts
+€900,000
Cash 2025
€536,666
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,492,748 | €7,442,851 | +€950,103 | +14.6% |
| Fixed assets | 21/28 | €901,531 | €2,291,031 | +€1.4m | +154.1% |
| Intangible fixed assets | 21 | €42,550 | €83,378 | +€40,828 | +96.0% |
| Tangible fixed assets | 22/27 | €858,911 | €2,207,583 | +€1.3m | +157.0% |
| Land and buildings | 22 | €95,945 | €2,103,187 | +€2.0m | +2092.1% |
| Furniture and vehicles | 24 | €114,162 | €104,395 | -€9,766 | -8.6% |
| Assets under construction and advance payments | 27 | €648,805 | €0 | -€648,805 | -100.0% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €5,591,217 | €5,151,820 | -€439,397 | -7.9% |
| Amounts receivable after more than one year | 29 | €1,500,434 | €1,000,000 | -€500,434 | -33.4% |
| Other amounts receivable | 291 | €1,500,434 | €1,000,000 | -€500,434 | -33.4% |
| Stocks and contracts in progress | 3 | €1,916,193 | €2,084,722 | +€168,528 | +8.8% |
| Stocks | 30/36 | €1,916,193 | €2,084,722 | +€168,528 | +8.8% |
| Amounts receivable within one year | 40/41 | €1,620,910 | €1,510,823 | -€110,087 | -6.8% |
| Trade receivables | 40 | €1,611,903 | €1,500,748 | -€111,154 | -6.9% |
| Other amounts receivable | 41 | €9,007 | €10,074 | +€1,067 | +11.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €542,514 | €536,666 | -€5,848 | -1.1% |
| Deferred charges and accrued income | 490/1 | €11,166 | €19,609 | +€8,443 | +75.6% |
| Total equity and liabilities | 10/49 | €6,492,748 | €7,442,851 | +€950,103 | +14.6% |
| Equity | 10/15 | €4,406,226 | €4,433,437 | +€27,210 | +0.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €977,750 | €977,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €951,500 | €951,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,353,476 | €3,380,687 | +€27,210 | +0.8% |
| Amounts payable | 17/49 | €2,086,521 | €3,009,414 | +€922,893 | +44.2% |
| Amounts payable after more than one year | 17 | €318,928 | €1,014,790 | +€695,862 | +218.2% |
| Financial debts | 170/4 | €318,928 | €1,014,790 | +€695,862 | +218.2% |
| Amounts payable within one year | 42/48 | €1,767,594 | €1,988,639 | +€221,046 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €60,468 | €99,688 | +€39,220 | +64.9% |
| Financial debts | 43 | - | €900,000 | +€900,000 | |
| Credit institutions | 430/8 | - | €900,000 | +€900,000 | |
| Trade debts | 44 | €1,497,270 | €788,062 | -€709,208 | -47.4% |
| Suppliers | 440/4 | €1,497,270 | €788,062 | -€709,208 | -47.4% |
| Taxes, remuneration and social security | 45 | €159,855 | €200,889 | +€41,034 | +25.7% |
| Taxes | 450/3 | €79,277 | €95,338 | +€16,061 | +20.3% |
| Remuneration and social security | 454/9 | €80,578 | €105,551 | +€24,973 | +31.0% |
| Other amounts payable | 47/48 | €50,000 | €0 | -€50,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €5,985 | +€5,985 | |
| Non-recurring operating income | 76A | €14,634 | €25,736 | +€11,102 | +75.9% |
| Remuneration, social security and pensions | 62 | €865,844 | €1,042,537 | +€176,693 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,069 | €108,532 | +€29,463 | +37.3% |
| Other operating charges | 640/8 | €23,473 | €39,476 | +€16,003 | +68.2% |
| Gross operating margin | 9900 | €1,181,763 | €1,219,560 | +€37,797 | +3.2% |
| Operating profit (loss) | 9901 | €213,378 | €29,016 | -€184,362 | -86.4% |
| Financial income | 75/76B | €59,243 | €74,214 | +€14,970 | +25.3% |
| Recurring financial income | 75 | €59,243 | €74,214 | +€14,970 | +25.3% |
| Financial charges | 65/66B | €84,852 | €68,913 | -€15,939 | -18.8% |
| Recurring financial charges | 65 | €19,425 | €68,913 | +€49,489 | +254.8% |
| Non-recurring financial charges | 66B | €65,427 | €0 | -€65,427 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €187,769 | €34,316 | -€153,452 | -81.7% |
| Income taxes | 67/77 | €53,554 | €7,106 | -€46,448 | -86.7% |
| Profit (loss) for the period | 9904 | €134,215 | €27,210 | -€107,004 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €134,215 | €27,210 | -€107,004 | -79.7% |
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 3 October 2026 via checked.be.