ACAP: 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
ACAP
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€20,791
2024 · €283,836-€263,045
Equity
€2.5m
2024 · €2.4m+€20,791
Cash
€95,387
2024 · €346,488-€251,101
Balance sheet total
€12.0m
2024 · €13.9m-€1.9m
Largest movements
Assets
- Receivables within one year -€1.7m
down €1.7m (-27.2%), from €6.1m to €4.4m
of which Trade receivables: -€1.4m
- Cash -€251,101
down €251,101 (-72.5%), from €346,488 to €95,387
mainly Trade debts (-€1.2m) and Investment in fixed assets (net) (-€1.2m)
- Stocks and contracts -€215,398
down €215,398 (-6.9%), from €3.1m to €2.9m
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-12.1%), from €10.3m to €9.0m
- Accrued charges and deferred income -€342,041
down €342,041 (-46.2%), from €740,539 to €398,498
- Other debts -€292,900
no longer reported in 2025 (was €292,900)
Income statement
- Turnover -€3.9m
down €3.9m (-9.6%), from €40.2m to €36.4m
- Goods and materials -€3.5m
down €3.5m (-10.6%), from €32.8m to €29.3m
of which Purchases: -€4.1m
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
€283,836
Turnover
-€3.9m
Other operating income
+€30,988
Goods and materials
+€3.5m
Services and other goods
+€184,565
Staff costs
-€32,492
Depreciation
-€112,699
Write-downs
+€1,356
Other operating charges
-€38,633
Other operating items
-€14,515
Financial income
+€23,443
Financial charges
+€207
Taxes
+€113,980
Result 2025
€20,791
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
+€980,555
Investment
-€1.2m
Financing
€0
Cash 2024
€346,488
From operations (derived)
+€980,555
Net result for the year
+€20,791
Depreciation
+€1.1m
Stocks and contracts
+€215,398
Receivables within one year
+€1.7m
Deferred charges and accrued income
-€70,776
Trade debts
-€1.2m
Tax, wage and social debts
-€54,237
Other debts
-€292,900
Accrued charges and deferred income
-€342,041
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Cash 2025
€95,387
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,935,426 | €12,021,362 | -€1.9m | -13.7% |
| Fixed assets | 21/28 | €4,338,433 | €4,474,924 | +€136,491 | +3.1% |
| Tangible fixed assets | 22/27 | €4,335,598 | €4,471,819 | +€136,221 | +3.1% |
| Plant, machinery and equipment | 23 | €1,561,639 | €1,872,206 | +€310,567 | +19.9% |
| Furniture and vehicles | 24 | €2,213,482 | €1,895,199 | -€318,283 | -14.4% |
| Other tangible fixed assets | 26 | €560,477 | €504,414 | -€56,063 | -10.0% |
| Assets under construction and advance payments | 27 | - | €200,000 | +€200,000 | |
| Financial fixed assets | 28 | €2,835 | €3,105 | +€270 | +9.5% |
| Other financial fixed assets | 284/8 | €2,835 | €3,105 | +€270 | +9.5% |
| Amounts receivable and cash guarantees | 285/8 | €2,835 | €3,105 | +€270 | +9.5% |
| Current assets | 29/58 | €9,596,993 | €7,546,438 | -€2.1m | -21.4% |
| Stocks and contracts in progress | 3 | €3,138,094 | €2,922,696 | -€215,398 | -6.9% |
| Stocks | 30/36 | €3,138,094 | €2,922,696 | -€215,398 | -6.9% |
| Raw materials and consumables | 30/31 | €2,837,699 | €2,334,192 | -€503,508 | -17.7% |
| Goods purchased for resale | 34 | €300,395 | €588,504 | +€288,110 | +95.9% |
| Amounts receivable within one year | 40/41 | €6,076,707 | €4,421,875 | -€1.7m | -27.2% |
| Trade receivables | 40 | €5,836,294 | €4,421,875 | -€1.4m | -24.2% |
| Other amounts receivable | 41 | €240,413 | - | -€240,413 | |
| Cash at bank and in hand | 54/58 | €346,488 | €95,387 | -€251,101 | -72.5% |
| Deferred charges and accrued income | 490/1 | €35,704 | €106,481 | +€70,776 | +198.2% |
| Total equity and liabilities | 10/49 | €13,935,426 | €12,021,362 | -€1.9m | -13.7% |
| Equity | 10/15 | €2,431,080 | €2,451,871 | +€20,791 | +0.9% |
| Contributions | 10/11 | €685,000 | €685,000 | = | 0.0% |
| Capital | 10 | €685,000 | €685,000 | = | 0.0% |
| Issued capital | 100 | €685,000 | €685,000 | = | 0.0% |
| Reserves | 13 | €700,381 | €700,381 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68,500 | €68,500 | = | 0.0% |
| Legal reserve | 130 | €68,500 | €68,500 | = | 0.0% |
| Distributable reserves | 133 | €631,881 | €631,881 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,045,699 | €1,066,490 | +€20,791 | +2.0% |
| Amounts payable | 17/49 | €11,504,346 | €9,569,491 | -€1.9m | -16.8% |
| Amounts payable within one year | 42/48 | €10,763,806 | €9,170,992 | -€1.6m | -14.8% |
| Trade debts | 44 | €10,289,414 | €9,043,738 | -€1.2m | -12.1% |
| Suppliers | 440/4 | €10,289,414 | €9,043,738 | -€1.2m | -12.1% |
| Taxes, remuneration and social security | 45 | €181,492 | €127,255 | -€54,237 | -29.9% |
| Taxes | 450/3 | €17,843 | €10,414 | -€7,430 | -41.6% |
| Remuneration and social security | 454/9 | €163,648 | €116,841 | -€46,807 | -28.6% |
| Other amounts payable | 47/48 | €292,900 | - | -€292,900 | |
| Accrued charges and deferred income | 492/3 | €740,539 | €398,498 | -€342,041 | -46.2% |
| Operating income | 70/76A | €40,684,916 | €36,819,224 | -€3.9m | -9.5% |
| Turnover | 70 | €40,235,273 | €36,353,107 | -€3.9m | -9.6% |
| Own construction capitalised | 72 | €177,015 | - | -€177,015 | |
| Other operating income | 74 | €130,128 | €161,117 | +€30,988 | +23.8% |
| Non-recurring operating income | 76A | €142,500 | €305,000 | +€162,500 | +114.0% |
| Operating charges | 60/66A | €40,404,805 | €36,939,787 | -€3.5m | -8.6% |
| Goods for resale, raw materials and consumables | 60 | €32,809,196 | €29,346,275 | -€3.5m | -10.6% |
| Purchases | 600/8 | €33,229,914 | €29,130,876 | -€4.1m | -12.3% |
| Change in stocks: decrease (increase) | 609 | -€420,718 | €215,398 | +€636,116 | |
| Services and other goods | 61 | €5,143,934 | €4,959,369 | -€184,565 | -3.6% |
| Remuneration, social security and pensions | 62 | €1,215,030 | €1,247,523 | +€32,492 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €982,466 | €1,095,165 | +€112,699 | +11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,356 | - | -€1,356 | |
| Other operating charges | 640/8 | €252,823 | €291,456 | +€38,633 | +15.3% |
| Operating profit (loss) | 9901 | €280,112 | -€120,564 | -€400,675 | |
| Financial income | 75/76B | €118,118 | €141,561 | +€23,443 | +19.8% |
| Recurring financial income | 75 | €118,118 | €141,561 | +€23,443 | +19.8% |
| Income from financial fixed assets | 750 | €3,488 | - | -€3,488 | |
| Other financial income | 752/9 | €114,630 | €141,561 | +€26,931 | +23.5% |
| Financial charges | 65/66B | €3,929 | €3,721 | -€207 | -5.3% |
| Recurring financial charges | 65 | €3,929 | €3,721 | -€207 | -5.3% |
| Debt charges | 650 | - | €370 | +€370 | |
| Other financial charges | 652/9 | €3,929 | €3,351 | -€578 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €394,301 | €17,276 | -€377,025 | -95.6% |
| Income taxes | 67/77 | €110,465 | -€3,515 | -€113,980 | |
| Taxes | 670/3 | €110,465 | €2,300 | -€108,165 | -97.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €5,815 | +€5,815 | |
| Profit (loss) for the period | 9904 | €283,836 | €20,791 | -€263,045 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €283,836 | €20,791 | -€263,045 | -92.7% |
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 9 October 2026 via checked.be.