Acasa Projects: 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.
What changed
Acasa Projects
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.6m-€179,660
Equity
€574,156
2024 · €573,257+€899
Cash
€4.2m
2024 · €2.9m+€1.3m
Balance sheet total
€30.7m
2024 · €24.7m+€6.1m
Largest movements
Assets
- Stocks and contracts +€6.7m
up €6.7m (+39.7%), from €16.9m to €23.6m
of which Contracts in progress: +€6.7m
- Receivables within one year -€2.5m
down €2.5m (-53.5%), from €4.6m to €2.1m
of which Other amounts receivable: -€2.2m
- Cash +€1.3m
up €1.3m (+46.6%), from €2.9m to €4.2m
mainly Other debts (+€9.3m) and Receivables within one year (+€2.5m)
- Tangible fixed assets +€506,662
new in 2025: €506,662
Equity and liabilities
- Other debts +€9.3m
up €9.3m (+263%), from €3.5m to €12.9m
- Trade debts -€2.0m
down €2.0m (-22.1%), from €9.1m to €7.1m
- Tax, wage and social debts -€851,278
down €851,278 (-63.0%), from €1.4m to €499,165
- Advances received -€767,838
down €767,838 (-31.7%), from €2.4m to €1.7m
- Accrued charges and deferred income +€513,003
up €513,003, from €0 to €513,003
Income statement
- Turnover -€6.5m
down €6.5m (-14.0%), from €46.2m to €39.7m
- Goods and materials -€2.1m
down €2.1m (-4.9%), from €42.5m to €40.4m
of which Purchases: -€1.9m
- Financial charges +€770,972
up €770,972 (+188%), from €410,385 to €1.2m
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
€1.6m
Turnover
-€6.5m
Other operating income
-€36,579
Goods and materials
+€2.1m
Services and other goods
+€172,867
Depreciation
-€9,907
Write-downs
-€34,388
Other operating charges
+€609
Other operating items
+€4.9m
Financial income
-€35,214
Financial charges
-€770,972
Taxes
+€17,852
Result 2025
€1.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€3.3m
Investment
-€516,041
Financing
-€1.5m
Cash 2024
€2.9m
From operations (derived)
+€3.3m
Net result for the year
+€1.4m
Depreciation
+€9,907
Stocks and contracts
-€6.7m
Receivables within one year
+€2.5m
Deferred charges and accrued income
+€11,028
Trade debts
-€2.0m
Tax, wage and social debts
-€851,278
Advances received
-€767,838
Other debts
+€9.3m
Accrued charges and deferred income
+€513,003
Investment (derived)
-€516,041
Investment in fixed assets (net)
-€516,041
Financing
-€1.5m
Debts after one year
-€161,646
Short-term financial debts
+€40,291
Contributions, distributions and other
-€1.4m
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,665,354 | €30,728,776 | +€6.1m | +24.6% |
| Fixed assets | 21/28 | €226,416 | €732,550 | +€506,134 | +224% |
| Tangible fixed assets | 22/27 | - | €506,662 | +€506,662 | |
| Other tangible fixed assets | 26 | - | €506,662 | +€506,662 | |
| Financial fixed assets | 28 | €226,416 | €225,887 | -€528 | -0.2% |
| Affiliated companies | 280/1 | €225,807 | €225,807 | = | 0.0% |
| Amounts receivable | 281 | €225,807 | €225,807 | = | 0.0% |
| Other financial fixed assets | 284/8 | €608 | €80 | -€528 | -86.8% |
| Amounts receivable and cash guarantees | 285/8 | €608 | €80 | -€528 | -86.8% |
| Current assets | 29/58 | €24,438,938 | €29,996,227 | +€5.6m | +22.7% |
| Stocks and contracts in progress | 3 | €16,884,049 | €23,579,825 | +€6.7m | +39.7% |
| Stocks | 30/36 | €57,913 | €58,848 | +€935 | +1.6% |
| Property held for sale | 35 | €57,913 | €58,848 | +€935 | +1.6% |
| Contracts in progress | 37 | €16,826,136 | €23,520,977 | +€6.7m | +39.8% |
| Amounts receivable within one year | 40/41 | €4,597,982 | €2,139,435 | -€2.5m | -53.5% |
| Trade receivables | 40 | €1,715,342 | €1,412,572 | -€302,770 | -17.7% |
| Other amounts receivable | 41 | €2,882,640 | €726,863 | -€2.2m | -74.8% |
| Cash at bank and in hand | 54/58 | €2,858,023 | €4,189,110 | +€1.3m | +46.6% |
| Deferred charges and accrued income | 490/1 | €98,885 | €87,856 | -€11,028 | -11.2% |
| Total equity and liabilities | 10/49 | €24,665,354 | €30,728,776 | +€6.1m | +24.6% |
| Equity | 10/15 | €573,257 | €574,156 | +€899 | +0.2% |
| Contributions | 10/11 | €436,067 | €436,067 | = | 0.0% |
| Capital | 10 | €436,067 | €436,067 | = | 0.0% |
| Issued capital | 100 | €436,067 | €436,067 | = | 0.0% |
| Reserves | 13 | €137,190 | €138,089 | +€899 | +0.7% |
| Non-distributable reserves | 130/1 | €43,607 | €43,607 | = | 0.0% |
| Legal reserve | 130 | €43,607 | €43,607 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,599 | €61,599 | = | 0.0% |
| Distributable reserves | 133 | €31,984 | €32,883 | +€899 | +2.8% |
| Provisions and deferred taxes | 16 | €25,531 | €25,531 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,531 | €25,531 | = | 0.0% |
| Other liabilities and charges | 164/5 | €25,531 | €25,531 | = | 0.0% |
| Amounts payable | 17/49 | €24,066,566 | €30,129,089 | +€6.1m | +25.2% |
| Amounts payable after more than one year | 17 | €2,434,237 | €2,272,591 | -€161,646 | -6.6% |
| Financial debts | 170/4 | €2,434,237 | €2,272,591 | -€161,646 | -6.6% |
| Other loans | 174 | €2,434,237 | €2,272,591 | -€161,646 | -6.6% |
| Amounts payable within one year | 42/48 | €21,632,329 | €27,343,494 | +€5.7m | +26.4% |
| Financial debts | 43 | €5,161,802 | €5,202,092 | +€40,291 | +0.8% |
| Credit institutions | 430/8 | €5,161,802 | €5,202,092 | +€40,291 | +0.8% |
| Trade debts | 44 | €9,149,685 | €7,124,541 | -€2.0m | -22.1% |
| Suppliers | 440/4 | €9,149,685 | €7,124,541 | -€2.0m | -22.1% |
| Advances received on contracts in progress | 46 | €2,424,558 | €1,656,721 | -€767,838 | -31.7% |
| Taxes, remuneration and social security | 45 | €1,350,444 | €499,165 | -€851,278 | -63.0% |
| Taxes | 450/3 | €1,350,444 | €499,165 | -€851,278 | -63.0% |
| Other amounts payable | 47/48 | €3,545,841 | €12,860,975 | +€9.3m | +263% |
| Accrued charges and deferred income | 492/3 | €0 | €513,003 | +€513,003 | |
| Operating income | 70/76A | €45,346,926 | €43,731,307 | -€1.6m | -3.6% |
| Turnover | 70 | €46,176,844 | €39,719,592 | -€6.5m | -14.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,228,005 | €3,650,207 | +€4.9m | |
| Other operating income | 74 | €398,087 | €361,508 | -€36,579 | -9.2% |
| Operating charges | 60/66A | €42,912,267 | €40,687,973 | -€2.2m | -5.2% |
| Goods for resale, raw materials and consumables | 60 | €42,491,007 | €40,395,895 | -€2.1m | -4.9% |
| Purchases | 600/8 | €42,277,519 | €40,396,830 | -€1.9m | -4.4% |
| Change in stocks: decrease (increase) | 609 | €213,488 | -€935 | -€214,423 | |
| Services and other goods | 61 | €322,472 | €149,605 | -€172,867 | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,907 | +€9,907 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €96,528 | €130,916 | +€34,388 | +35.6% |
| Other operating charges | 640/8 | €2,259 | €1,651 | -€609 | -26.9% |
| Operating profit (loss) | 9901 | €2,434,659 | €3,043,333 | +€608,674 | +25.0% |
| Financial income | 75/76B | €43,303 | €8,089 | -€35,214 | -81.3% |
| Recurring financial income | 75 | €43,303 | €8,089 | -€35,214 | -81.3% |
| Income from current assets | 751 | - | €481 | +€481 | |
| Other financial income | 752/9 | €43,303 | €7,608 | -€35,695 | -82.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €410,385 | €1,181,358 | +€770,972 | +188% |
| Recurring financial charges | 65 | €410,385 | €1,181,358 | +€770,972 | +188% |
| Debt charges | 650 | €381,857 | €1,121,662 | +€739,805 | +194% |
| Other financial charges | 652/9 | €28,529 | €59,696 | +€31,167 | +109% |
| Profit (loss) for the period before taxes | 9903 | €2,067,577 | €1,870,064 | -€197,512 | -9.6% |
| Income taxes | 67/77 | €517,017 | €499,165 | -€17,852 | -3.5% |
| Taxes | 670/3 | €517,017 | €499,165 | -€17,852 | -3.5% |
| Profit (loss) for the period | 9904 | €1,550,560 | €1,370,899 | -€179,660 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,550,560 | €1,370,899 | -€179,660 | -11.6% |
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 15 October 2026 via checked.be.