ACCRETIO MANAGEMENT: 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.
ACCRETIO MANAGEMENT
Largest movements
- Cash +€149,953
up €149,953 (+62.6%), from €239,431 to €389,385
mainly Net result for the year (+€192,561) and Current investments (+€102,660)
- Current investments -€102,660
down €102,660 (-58.4%), from €175,693 to €73,033
- Receivables within one year -€56,071
down €56,071 (-20.4%), from €275,455 to €219,384
of which Trade receivables: -€56,109
- Deferred charges and accrued income +€19,805
up €19,805 (+78.6%), from €25,203 to €45,008
- Tangible fixed assets -€18,194
down €18,194 (-30.9%), from €58,965 to €40,772
of which Furniture and vehicles: -€11,328
- Trade debts -€18,532
down €18,532 (-27.2%), from €68,116 to €49,584
- Profit (loss) carried forward +€17,561
up €17,561 (+396%), from €4,440 to €22,001
- Gross operating margin -€174,593
down €174,593 (-29.0%), from €601,339 to €426,746
- Staff costs -€79,178
down €79,178 (-28.6%), from €276,865 to €197,688
- Taxes -€25,408
down €25,408 (-62.8%), from €40,486 to €15,078
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 | €775,403 | €767,591 | -€7,812 | -1.0% |
| Fixed assets | 21/28 | €59,620 | €40,781 | -€18,839 | -31.6% |
| Intangible fixed assets | 21 | €655 | €9 | -€645 | -98.6% |
| Tangible fixed assets | 22/27 | €58,965 | €40,772 | -€18,194 | -30.9% |
| Furniture and vehicles | 24 | €12,535 | €1,207 | -€11,328 | -90.4% |
| Other tangible fixed assets | 26 | €46,431 | €39,565 | -€6,866 | -14.8% |
| Current assets | 29/58 | €715,783 | €726,810 | +€11,027 | +1.5% |
| Amounts receivable within one year | 40/41 | €275,455 | €219,384 | -€56,071 | -20.4% |
| Trade receivables | 40 | €226,711 | €170,602 | -€56,109 | -24.7% |
| Other amounts receivable | 41 | €48,744 | €48,782 | +€38 | +0.1% |
| Current investments | 50/53 | €175,693 | €73,033 | -€102,660 | -58.4% |
| Cash at bank and in hand | 54/58 | €239,431 | €389,385 | +€149,953 | +62.6% |
| Deferred charges and accrued income | 490/1 | €25,203 | €45,008 | +€19,805 | +78.6% |
| Total equity and liabilities | 10/49 | €775,403 | €767,591 | -€7,812 | -1.0% |
| Equity | 10/15 | €501,440 | €519,001 | +€17,561 | +3.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €490,000 | €490,000 | = | 0.0% |
| Distributable reserves | 133 | €490,000 | €490,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,440 | €22,001 | +€17,561 | +396% |
| Amounts payable | 17/49 | €273,963 | €248,591 | -€25,372 | -9.3% |
| Amounts payable within one year | 42/48 | €273,963 | €248,591 | -€25,372 | -9.3% |
| Trade debts | 44 | €68,116 | €49,584 | -€18,532 | -27.2% |
| Suppliers | 440/4 | €68,116 | €49,584 | -€18,532 | -27.2% |
| Taxes, remuneration and social security | 45 | €25,847 | €24,007 | -€1,840 | -7.1% |
| Remuneration and social security | 454/9 | €25,847 | €24,007 | -€1,840 | -7.1% |
| Other amounts payable | 47/48 | €180,000 | €175,000 | -€5,000 | -2.8% |
| Remuneration, social security and pensions | 62 | €276,865 | €197,688 | -€79,178 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,529 | €18,839 | -€4,690 | -19.9% |
| Other operating charges | 640/8 | €1,071 | €1,408 | +€337 | +31.5% |
| Gross operating margin | 9900 | €601,339 | €426,746 | -€174,593 | -29.0% |
| Operating profit (loss) | 9901 | €299,873 | €208,811 | -€91,062 | -30.4% |
| Financial income | 75/76B | €1,618 | €5,545 | +€3,926 | +243% |
| Recurring financial income | 75 | €1,618 | €5,545 | +€3,926 | +243% |
| Financial charges | 65/66B | €4,121 | €6,717 | +€2,596 | +63.0% |
| Recurring financial charges | 65 | €4,121 | €6,717 | +€2,596 | +63.0% |
| Profit (loss) for the period before taxes | 9903 | €297,370 | €207,638 | -€89,732 | -30.2% |
| Income taxes | 67/77 | €40,486 | €15,078 | -€25,408 | -62.8% |
| Profit (loss) for the period | 9904 | €256,885 | €192,561 | -€64,324 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €256,885 | €192,561 | -€64,324 | -25.0% |
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 18 October 2026 via checked.be.