ACCOLADE: 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.
ACCOLADE
Largest movements
- Tangible fixed assets +€272,851
up €272,851 (+554%), from €49,218 to €322,069
of which Assets under construction and advance payments: +€274,454
- Cash -€143,232
down €143,232 (-52.7%), from €271,784 to €128,553
mainly Investment in fixed assets (net) (-€287,691) and Stocks and contracts (-€25,797)
- Stocks and contracts +€25,797
up €25,797 (+79.2%), from €32,591 to €58,388
- Receivables within one year -€17,285
down €17,285 (-10.9%), from €158,041 to €140,757
of which Trade receivables: -€61,686
- Reserves +€76,577
up €76,577 (+15.6%), from €490,867 to €567,443
- Trade debts +€72,972
up €72,972 (+554%), from €13,171 to €86,143
- Current portion of long-term debt -€10,332
down €10,332 (-60.3%), from €17,123 to €6,791
- Gross operating margin -€56,030
down €56,030 (-28.1%), from €199,317 to €143,287
- Taxes -€24,566
down €24,566 (-43.5%), from €56,468 to €31,902
- Depreciation +€4,961
up €4,961 (+50.2%), from €9,880 to €14,841
- Other operating charges -€2,649
down €2,649 (-55.4%), from €4,781 to €2,132
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 | €573,682 | €708,279 | +€134,597 | +23.5% |
| Fixed assets | 21/28 | €106,163 | €379,014 | +€272,851 | +257% |
| Tangible fixed assets | 22/27 | €49,218 | €322,069 | +€272,851 | +554% |
| Furniture and vehicles | 24 | €17,805 | €10,784 | -€7,021 | -39.4% |
| Other tangible fixed assets | 26 | €31,413 | €36,831 | +€5,418 | +17.2% |
| Assets under construction and advance payments | 27 | - | €274,454 | +€274,454 | |
| Financial fixed assets | 28 | €56,945 | €56,945 | = | 0.0% |
| Current assets | 29/58 | €467,519 | €329,265 | -€138,254 | -29.6% |
| Stocks and contracts in progress | 3 | €32,591 | €58,388 | +€25,797 | +79.2% |
| Stocks | 30/36 | €32,591 | €58,388 | +€25,797 | +79.2% |
| Amounts receivable within one year | 40/41 | €158,041 | €140,757 | -€17,285 | -10.9% |
| Trade receivables | 40 | €115,740 | €54,055 | -€61,686 | -53.3% |
| Other amounts receivable | 41 | €42,301 | €86,702 | +€44,401 | +105% |
| Cash at bank and in hand | 54/58 | €271,784 | €128,553 | -€143,232 | -52.7% |
| Deferred charges and accrued income | 490/1 | €5,102 | €1,568 | -€3,534 | -69.3% |
| Total equity and liabilities | 10/49 | €573,682 | €708,279 | +€134,597 | +23.5% |
| Equity | 10/15 | €509,467 | €586,043 | +€76,577 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €490,867 | €567,443 | +€76,577 | +15.6% |
| Distributable reserves | 133 | €490,867 | €567,443 | +€76,577 | +15.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €64,215 | €122,236 | +€58,020 | +90.4% |
| Amounts payable after more than one year | 17 | €7,576 | €785 | -€6,791 | -89.6% |
| Financial debts | 170/4 | €7,576 | €785 | -€6,791 | -89.6% |
| Amounts payable within one year | 42/48 | €56,136 | €121,450 | +€65,314 | +116% |
| Current portion of amounts payable after more than one year | 42 | €17,123 | €6,791 | -€10,332 | -60.3% |
| Trade debts | 44 | €13,171 | €86,143 | +€72,972 | +554% |
| Suppliers | 440/4 | €13,171 | €86,143 | +€72,972 | +554% |
| Taxes, remuneration and social security | 45 | €25,843 | €28,516 | +€2,673 | +10.3% |
| Taxes | 450/3 | €25,843 | €28,516 | +€2,673 | +10.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €503 | €0 | -€503 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,880 | €14,841 | +€4,961 | +50.2% |
| Other operating charges | 640/8 | €4,781 | €2,132 | -€2,649 | -55.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €199,317 | €143,287 | -€56,030 | -28.1% |
| Operating profit (loss) | 9901 | €184,657 | €126,314 | -€58,342 | -31.6% |
| Financial income | 75/76B | €1,260 | €2,689 | +€1,429 | +113% |
| Recurring financial income | 75 | €1,260 | €2,689 | +€1,429 | +113% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €903 | €996 | +€93 | +10.2% |
| Recurring financial charges | 65 | €903 | €996 | +€93 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €185,014 | €128,008 | -€57,006 | -30.8% |
| Income taxes | 67/77 | €56,468 | €31,902 | -€24,566 | -43.5% |
| Profit (loss) for the period | 9904 | €128,545 | €96,105 | -€32,440 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,545 | €96,105 | -€32,440 | -25.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.