ACD-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.
ACD-PROJECTS
Largest movements
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Receivables within one year +€35,229
up €35,229 (+103%), from €34,177 to €69,406
of which Other amounts receivable: +€44,818
- Deferred charges and accrued income +€29,404
up €29,404 (+2,411%), from €1,220 to €30,623
- Tangible fixed assets -€21,018
down €21,018 (-67.3%), from €31,214 to €10,196
of which Furniture and vehicles: -€19,207
- Cash +€17,280
up €17,280 (+132%), from €13,139 to €30,419
mainly Net result for the year (+€653,164) and Current investments (+€40,000)
- Profit (loss) carried forward +€53,164
new in 2025: €53,164
- Debts after one year -€40,069
down €40,069 (-92.3%), from €43,426 to €3,356
- Trade debts +€31,803
up €31,803 (+429%), from €7,418 to €39,221
- Other debts -€25,347
down €25,347 (-21.3%), from €119,144 to €93,797
- Contributions +€12,100
up €12,100 (+186%), from €6,500 to €18,600
- Financial income +€501,146
up €501,146 (+97,949%), from €512 to €501,658
- Gross operating margin +€57,630
up €57,630 (+35.5%), from €162,203 to €219,833
- Taxes +€19,570
up €19,570 (+53.1%), from €36,887 to €56,457
- Financial charges +€4,023
up €4,023 (+139%), from €2,892 to €6,915
- Depreciation -€3,287
down €3,287 (-44.6%), from €7,366 to €4,079
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 | €455,793 | €491,688 | +€35,895 | +7.9% |
| Fixed assets | 21/28 | €367,258 | €361,240 | -€6,018 | -1.6% |
| Tangible fixed assets | 22/27 | €31,214 | €10,196 | -€21,018 | -67.3% |
| Plant, machinery and equipment | 23 | - | €549 | +€549 | |
| Furniture and vehicles | 24 | €20,377 | €1,170 | -€19,207 | -94.3% |
| Other tangible fixed assets | 26 | €10,837 | €8,477 | -€2,360 | -21.8% |
| Financial fixed assets | 28 | €336,044 | €351,044 | +€15,000 | +4.5% |
| Current assets | 29/58 | €88,536 | €130,448 | +€41,913 | +47.3% |
| Amounts receivable within one year | 40/41 | €34,177 | €69,406 | +€35,229 | +103% |
| Trade receivables | 40 | €30,250 | €20,661 | -€9,589 | -31.7% |
| Other amounts receivable | 41 | €3,927 | €48,745 | +€44,818 | +1,141% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €13,139 | €30,419 | +€17,280 | +132% |
| Deferred charges and accrued income | 490/1 | €1,220 | €30,623 | +€29,404 | +2,411% |
| Total equity and liabilities | 10/49 | €455,793 | €491,688 | +€35,895 | +7.9% |
| Equity | 10/15 | €190,860 | €256,124 | +€65,264 | +34.2% |
| Contributions | 10/11 | €6,500 | €18,600 | +€12,100 | +186% |
| Reserves | 13 | €184,360 | €184,360 | = | 0.0% |
| Distributable reserves | 133 | €184,360 | €184,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €53,164 | +€53,164 | |
| Amounts payable | 17/49 | €264,933 | €235,564 | -€29,369 | -11.1% |
| Amounts payable after more than one year | 17 | €43,426 | €3,356 | -€40,069 | -92.3% |
| Financial debts | 170/4 | €43,426 | €3,356 | -€40,069 | -92.3% |
| Amounts payable within one year | 42/48 | €221,508 | €232,208 | +€10,700 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €39,691 | €40,069 | +€378 | +1.0% |
| Financial debts | 43 | €15,205 | €20,715 | +€5,511 | +36.2% |
| Credit institutions | 430/8 | €15,205 | €20,715 | +€5,511 | +36.2% |
| Trade debts | 44 | €7,418 | €39,221 | +€31,803 | +429% |
| Suppliers | 440/4 | €7,418 | €39,221 | +€31,803 | +429% |
| Taxes, remuneration and social security | 45 | €40,050 | €38,405 | -€1,645 | -4.1% |
| Taxes | 450/3 | €37,750 | €38,405 | +€655 | +1.7% |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Other amounts payable | 47/48 | €119,144 | €93,797 | -€25,347 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,366 | €4,079 | -€3,287 | -44.6% |
| Other operating charges | 640/8 | €1,651 | €875 | -€775 | -47.0% |
| Gross operating margin | 9900 | €162,203 | €219,833 | +€57,630 | +35.5% |
| Operating profit (loss) | 9901 | €153,187 | €214,879 | +€61,692 | +40.3% |
| Financial income | 75/76B | €512 | €501,658 | +€501,146 | +97,949% |
| Recurring financial income | 75 | €512 | €501,658 | +€501,146 | +97,949% |
| Financial charges | 65/66B | €2,892 | €6,915 | +€4,023 | +139% |
| Recurring financial charges | 65 | €2,892 | €6,915 | +€4,023 | +139% |
| Profit (loss) for the period before taxes | 9903 | €150,807 | €709,621 | +€558,814 | +371% |
| Income taxes | 67/77 | €36,887 | €56,457 | +€19,570 | +53.1% |
| Profit (loss) for the period | 9904 | €113,920 | €653,164 | +€539,244 | +473% |
| Profit (loss) for the period to be appropriated | 9905 | €113,920 | €653,164 | +€539,244 | +473% |
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 17 October 2026 via checked.be.