ACE Advisers: 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.
ACE Advisers
Largest movements
- Cash -€263,429
down €263,429 (-81.8%), from €322,176 to €58,747
mainly Contributions, distributions and other (-€369,968) and Receivables within one year (-€88,929)
- Current investments -€106,107
down €106,107 (-6.9%), from €1.5m to €1.4m
- Receivables within one year +€88,929
up €88,929 (+21.0%), from €422,825 to €511,754
of which Other amounts receivable: +€49,938
- Reserves -€318,613
down €318,613 (-14.7%), from €2.2m to €1.9m
of which Distributable reserves: -€318,613
- Other debts +€67,259
up €67,259 (+23.7%), from €284,210 to €351,469
- Gross operating margin -€412,839
down €412,839, from €410,705 to -€2,134
- Taxes -€131,278
down €131,278 (-84.7%), from €155,031 to €23,753
- Financial charges -€36,297
down €36,297, from €35,199 to -€1,098
- Financial income -€32,169
down €32,169 (-29.0%), from €111,085 to €78,916
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 | €2,686,575 | €2,408,771 | -€277,804 | -10.3% |
| Fixed assets | 21/28 | €25,324 | €28,566 | +€3,242 | +12.8% |
| Tangible fixed assets | 22/27 | €25,324 | €28,566 | +€3,242 | +12.8% |
| Furniture and vehicles | 24 | €25,324 | €28,566 | +€3,242 | +12.8% |
| Current assets | 29/58 | €2,661,251 | €2,380,205 | -€281,046 | -10.6% |
| Amounts receivable after more than one year | 29 | €373,216 | €373,216 | = | 0.0% |
| Other amounts receivable | 291 | €373,216 | €373,216 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €422,825 | €511,754 | +€88,929 | +21.0% |
| Trade receivables | 40 | €4,450 | €43,441 | +€38,991 | +876% |
| Other amounts receivable | 41 | €418,375 | €468,313 | +€49,938 | +11.9% |
| Current investments | 50/53 | €1,542,335 | €1,436,228 | -€106,107 | -6.9% |
| Cash at bank and in hand | 54/58 | €322,176 | €58,747 | -€263,429 | -81.8% |
| Deferred charges and accrued income | 490/1 | €699 | €260 | -€439 | -62.7% |
| Total equity and liabilities | 10/49 | €2,686,575 | €2,408,771 | -€277,804 | -10.3% |
| Equity | 10/15 | €2,284,741 | €1,966,128 | -€318,613 | -13.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,170,051 | €1,851,438 | -€318,613 | -14.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,168,191 | €1,849,578 | -€318,613 | -14.7% |
| Profit (loss) carried forward | 14 | €102,291 | €102,291 | = | 0.0% |
| Amounts payable | 17/49 | €401,833 | €442,642 | +€40,809 | +10.2% |
| Amounts payable within one year | 42/48 | €401,787 | €442,642 | +€40,855 | +10.2% |
| Trade debts | 44 | €6,409 | €3,836 | -€2,573 | -40.1% |
| Suppliers | 440/4 | €6,409 | €3,836 | -€2,573 | -40.1% |
| Taxes, remuneration and social security | 45 | €111,168 | €87,337 | -€23,831 | -21.4% |
| Taxes | 450/3 | €111,168 | €87,337 | -€23,831 | -21.4% |
| Other amounts payable | 47/48 | €284,210 | €351,469 | +€67,259 | +23.7% |
| Accrued charges and deferred income | 492/3 | €46 | €0 | -€46 | -99.7% |
| Non-recurring operating income | 76A | €86 | - | -€86 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,266 | €2,502 | +€1,236 | +97.7% |
| Other operating charges | 640/8 | €507 | €270 | -€236 | -46.6% |
| Gross operating margin | 9900 | €410,705 | -€2,134 | -€412,839 | |
| Operating profit (loss) | 9901 | €408,932 | -€4,906 | -€413,839 | |
| Financial income | 75/76B | €111,085 | €78,916 | -€32,169 | -29.0% |
| Recurring financial income | 75 | €111,085 | €78,916 | -€32,169 | -29.0% |
| Financial charges | 65/66B | €35,199 | -€1,098 | -€36,297 | |
| Recurring financial charges | 65 | €35,199 | -€1,098 | -€36,297 | |
| Profit (loss) for the period before taxes | 9903 | €484,818 | €75,108 | -€409,711 | -84.5% |
| Income taxes | 67/77 | €155,031 | €23,753 | -€131,278 | -84.7% |
| Profit (loss) for the period | 9904 | €329,787 | €51,355 | -€278,433 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €329,787 | €51,355 | -€278,433 | -84.4% |
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 20 October 2026 via checked.be.