ACD CONCEPTS: 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.
ACD CONCEPTS
Largest movements
- Stocks and contracts -€77,389
down €77,389 (-31.7%), from €244,055 to €166,666
- Tangible fixed assets +€29,419
up €29,419 (+3.8%), from €775,546 to €804,965
of which Land and buildings: +€45,869
- Other debts +€161,266
up €161,266 (+115.9%), from €139,088 to €300,354
- Trade debts -€94,964
down €94,964 (-47.5%), from €199,985 to €105,021
- Debts after one year -€79,584
down €79,584 (-15.4%), from €518,121 to €438,537
- Current portion of long-term debt -€16,542
down €16,542 (-14.3%), from €115,413 to €98,871
- Tax, wage and social debts -€14,003
down €14,003 (-53.8%), from €26,036 to €12,034
of which Taxes: -€18,279
- Gross operating margin +€96,188
up €96,188 (+21.7%), from €443,638 to €539,825
- Other operating charges -€71,269
down €71,269 (-62.7%), from €113,661 to €42,391
- Staff costs -€14,041
down €14,041 (-17.5%), from €80,391 to €66,350
- Write-downs +€13,191
no longer reported in 2025 (was -€13,191)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,141,438 | €1,102,312 | -€39,127 | -3.4% |
| Fixed assets | 21/28 | €823,686 | €853,105 | +€29,419 | +3.6% |
| Tangible fixed assets | 22/27 | €775,546 | €804,965 | +€29,419 | +3.8% |
| Land and buildings | 22 | €715,898 | €761,768 | +€45,869 | +6.4% |
| Plant, machinery and equipment | 23 | €57,478 | €41,729 | -€15,749 | -27.4% |
| Furniture and vehicles | 24 | €2,171 | €1,469 | -€701 | -32.3% |
| Financial fixed assets | 28 | €48,140 | €48,140 | = | 0.0% |
| Current assets | 29/58 | €317,752 | €249,206 | -€68,546 | -21.6% |
| Stocks and contracts in progress | 3 | €244,055 | €166,666 | -€77,389 | -31.7% |
| Stocks | 30/36 | €244,055 | €166,666 | -€77,389 | -31.7% |
| Amounts receivable within one year | 40/41 | €63,414 | €74,396 | +€10,982 | +17.3% |
| Trade receivables | 40 | €63,342 | €47,366 | -€15,976 | -25.2% |
| Other amounts receivable | 41 | €73 | €27,030 | +€26,958 | +37168.0% |
| Cash at bank and in hand | 54/58 | €7,308 | €7,461 | +€154 | +2.1% |
| Deferred charges and accrued income | 490/1 | €2,974 | €682 | -€2,292 | -77.1% |
| Total equity and liabilities | 10/49 | €1,141,438 | €1,102,312 | -€39,127 | -3.4% |
| Equity | 10/15 | €67,795 | €72,496 | +€4,701 | +6.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,595 | €66,296 | +€4,701 | +7.6% |
| Distributable reserves | 133 | €61,595 | €66,296 | +€4,701 | +7.6% |
| Amounts payable | 17/49 | €1,073,643 | €1,029,816 | -€43,827 | -4.1% |
| Amounts payable after more than one year | 17 | €518,121 | €438,537 | -€79,584 | -15.4% |
| Financial debts | 170/4 | €518,121 | €438,537 | -€79,584 | -15.4% |
| Amounts payable within one year | 42/48 | €555,522 | €591,279 | +€35,757 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €115,413 | €98,871 | -€16,542 | -14.3% |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Other loans | 439 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €199,985 | €105,021 | -€94,964 | -47.5% |
| Suppliers | 440/4 | €199,985 | €105,021 | -€94,964 | -47.5% |
| Taxes, remuneration and social security | 45 | €26,036 | €12,034 | -€14,003 | -53.8% |
| Taxes | 450/3 | €25,889 | €7,610 | -€18,279 | -70.6% |
| Remuneration and social security | 454/9 | €147 | €4,423 | +€4,276 | +2903.0% |
| Other amounts payable | 47/48 | €139,088 | €300,354 | +€161,266 | +115.9% |
| Non-recurring operating income | 76A | - | €126,417 | +€126,417 | |
| Remuneration, social security and pensions | 62 | €80,391 | €66,350 | -€14,041 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,916 | €91,642 | +€726 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,191 | - | +€13,191 | |
| Other operating charges | 640/8 | €113,661 | €42,391 | -€71,269 | -62.7% |
| Gross operating margin | 9900 | €443,638 | €539,825 | +€96,188 | +21.7% |
| Operating profit (loss) | 9901 | €171,860 | €339,442 | +€167,582 | +97.5% |
| Financial income | 75/76B | €960 | €187 | -€773 | -80.6% |
| Recurring financial income | 75 | €960 | €187 | -€773 | -80.6% |
| Financial charges | 65/66B | €31,684 | €31,451 | -€233 | -0.7% |
| Recurring financial charges | 65 | €31,684 | €31,451 | -€233 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €141,136 | €308,177 | +€167,041 | +118.4% |
| Income taxes | 67/77 | €2,043 | €3,476 | +€1,433 | +70.1% |
| Profit (loss) for the period | 9904 | €139,093 | €304,701 | +€165,608 | +119.1% |
| Profit (loss) for the period to be appropriated | 9905 | €139,093 | €304,701 | +€165,608 | +119.1% |
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 11 October 2026 via checked.be.