Accoform: 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.
Accoform
Largest movements
- Receivables within one year +€48.5m
up €48.5m (+41.6%), from €116.7m to €165.2m
of which Other amounts receivable: +€46.7m
- Cash -€29.1m
down €29.1m (-76.4%), from €38.1m to €9.0m
mainly Receivables within one year (-€48.5m) and Short-term financial debts (-€46.0m)
- Current investments -€14.7m
down €14.7m (-34.0%), from €43.2m to €28.5m
- Financial fixed assets -€6.3m
down €6.3m (-5.9%), from €107.2m to €100.9m
- Short-term financial debts -€46.0m
down €46.0m (-28.1%), from €163.5m to €117.5m
- Profit (loss) carried forward +€25.3m
up €25.3m (+46.3%), from €54.5m to €79.8m
- Other debts +€18.8m
up €18.8m (+167%), from €11.3m to €30.1m
- Current portion of long-term debt +€4.3m
up €4.3m (+112%), from €3.8m to €8.1m
- Financial income +€17.0m
up €17.0m (+64.1%), from €26.5m to €43.4m
- Financial charges +€2.2m
up €2.2m (+15.1%), from €14.8m to €17.1m
of which Financial charges: +€2.3m
- Taxes +€170,396
up €170,396 (+9,204%), from €1,851 to €172,247
- Other operating charges +€81,663
up €81,663 (+64.8%), from €126,102 to €207,765
- Gross operating margin +€59,673
up €59,673 (+19.2%), from -€310,569 to -€250,896
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €310,948,678 | €310,397,211 | -€551,467 | -0.2% |
| Formation expenses | 20 | €13,338 | €0 | -€13,338 | -100% |
| Fixed assets | 21/28 | €108,782,770 | €102,281,008 | -€6.5m | -6.0% |
| Tangible fixed assets | 22/27 | €1,589,459 | €1,367,717 | -€221,742 | -14.0% |
| Land and buildings | 22 | €811 | €401 | -€410 | -50.6% |
| Plant, machinery and equipment | 23 | €1,460,419 | €1,279,704 | -€180,715 | -12.4% |
| Furniture and vehicles | 24 | €128,229 | €87,611 | -€40,617 | -31.7% |
| Financial fixed assets | 28 | €107,193,312 | €100,913,292 | -€6.3m | -5.9% |
| Current assets | 29/58 | €202,152,569 | €208,116,203 | +€6.0m | +3.0% |
| Amounts receivable within one year | 40/41 | €116,677,423 | €165,161,265 | +€48.5m | +41.6% |
| Trade receivables | 40 | €4,978,631 | €6,778,530 | +€1.8m | +36.2% |
| Other amounts receivable | 41 | €111,698,792 | €158,382,735 | +€46.7m | +41.8% |
| Current investments | 50/53 | €43,218,593 | €28,504,298 | -€14.7m | -34.0% |
| Cash at bank and in hand | 54/58 | €38,122,068 | €9,007,025 | -€29.1m | -76.4% |
| Deferred charges and accrued income | 490/1 | €4,134,485 | €5,443,615 | +€1.3m | +31.7% |
| Total equity and liabilities | 10/49 | €310,948,678 | €310,397,211 | -€551,467 | -0.2% |
| Equity | 10/15 | €121,440,507 | €146,696,666 | +€25.3m | +20.8% |
| Contributions | 10/11 | €50,000,000 | €50,000,000 | = | 0.0% |
| Capital | 10 | €50,000,000 | €50,000,000 | = | 0.0% |
| Issued capital | 100 | €50,000,000 | €50,000,000 | = | 0.0% |
| Reserves | 13 | €16,895,985 | €16,895,985 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,644,923 | €4,644,923 | = | 0.0% |
| Legal reserve | 130 | €4,644,923 | €4,644,923 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,142,887 | €705,297 | -€2.4m | -77.6% |
| Distributable reserves | 133 | €9,108,175 | €11,545,765 | +€2.4m | +26.8% |
| Profit (loss) carried forward | 14 | €54,544,522 | €79,800,681 | +€25.3m | +46.3% |
| Amounts payable | 17/49 | €189,508,171 | €163,700,545 | -€25.8m | -13.6% |
| Amounts payable after more than one year | 17 | €8,634,231 | €6,481,218 | -€2.2m | -24.9% |
| Financial debts | 170/4 | €8,634,231 | €6,481,218 | -€2.2m | -24.9% |
| Amounts payable within one year | 42/48 | €179,354,720 | €156,540,556 | -€22.8m | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €3,821,294 | €8,110,951 | +€4.3m | +112% |
| Financial debts | 43 | €163,450,000 | €117,450,000 | -€46.0m | -28.1% |
| Credit institutions | 430/8 | €163,450,000 | €117,450,000 | -€46.0m | -28.1% |
| Trade debts | 44 | €712,224 | €760,862 | +€48,638 | +6.8% |
| Suppliers | 440/4 | €712,224 | €760,862 | +€48,638 | +6.8% |
| Taxes, remuneration and social security | 45 | €80,029 | €121,255 | +€41,227 | +51.5% |
| Taxes | 450/3 | €41,458 | €73,829 | +€32,371 | +78.1% |
| Remuneration and social security | 454/9 | €38,571 | €47,426 | +€8,855 | +23.0% |
| Other amounts payable | 47/48 | €11,291,174 | €30,097,487 | +€18.8m | +167% |
| Accrued charges and deferred income | 492/3 | €1,519,219 | €678,771 | -€840,449 | -55.3% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Remuneration, social security and pensions | 62 | €264,127 | €232,048 | -€32,080 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279,969 | €237,337 | -€42,632 | -15.2% |
| Other operating charges | 640/8 | €126,102 | €207,765 | +€81,663 | +64.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€310,569 | -€250,896 | +€59,673 | +19.2% |
| Operating profit (loss) | 9901 | -€980,768 | -€928,046 | +€52,722 | +5.4% |
| Financial income | 75/76B | €26,463,091 | €43,421,175 | +€17.0m | +64.1% |
| Recurring financial income | 75 | €26,463,091 | €43,421,175 | +€17.0m | +64.1% |
| Financial charges | 65/66B | €14,820,625 | €17,064,723 | +€2.2m | +15.1% |
| Recurring financial charges | 65 | €14,795,703 | €17,064,723 | +€2.3m | +15.3% |
| Non-recurring financial charges | 66B | €24,923 | €0 | -€24,923 | -100% |
| Profit (loss) for the period before taxes | 9903 | €10,661,698 | €25,428,406 | +€14.8m | +139% |
| Income taxes | 67/77 | €1,851 | €172,247 | +€170,396 | +9,204% |
| Profit (loss) for the period | 9904 | €10,659,847 | €25,256,159 | +€14.6m | +137% |
| Transfer from tax-exempt reserves | 789 | €1,857,107 | €2,437,590 | +€580,483 | +31.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €12,516,953 | €27,693,749 | +€15.2m | +121% |
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 29 October 2026 via checked.be.