ACE - INVEST: 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.
What changed
ACE - INVEST
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,442
2024 · €4,307+€8,135
Equity
€509,840
2024 · €497,399+€12,442
Cash
€15,844
2024 · €1,158+€14,686
Balance sheet total
€1.5m
2024 · €1.5m-€60,363
Largest movements
Assets
- Tangible fixed assets -€99,668
down €99,668 (-6.9%), from €1.4m to €1.3m
- Stocks and contracts +€33,734
up €33,734 (+46.5%), from €72,482 to €106,216
Equity and liabilities
- Debts after one year -€54,193
down €54,193 (-6.9%), from €781,844 to €727,651
- Trade debts -€28,555
down €28,555 (-59.2%), from €48,239 to €19,685
Income statement
- Gross operating margin +€6,979
up €6,979 (+4.7%), from €148,581 to €155,560
- Depreciation -€6,390
down €6,390 (-6.2%), from €102,348 to €95,958
- Taxes +€5,187
up €5,187 (+43.8%), from €11,855 to €17,043
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.
Result 2024
€4,307
Gross operating margin
+€6,979
Depreciation
+€6,390
Other operating charges
-€887
Financial income
+€14
Financial charges
+€825
Taxes
-€5,187
Result 2025
€12,442
raises the resultlowers the result
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.
From operations
+€64,120
Investment
+€3,710
Financing
-€53,143
Cash 2024
€1,158
From operations (derived)
+€64,120
Net result for the year
+€12,442
Depreciation
+€95,958
Stocks and contracts
-€33,734
Receivables within one year
+€8,690
Deferred charges and accrued income
+€426
Provisions
-€8,809
Trade debts
-€28,555
Tax, wage and social debts
+€4,187
Advances received
+€12,475
Other debts
+€1,039
Investment (derived)
+€3,710
Investment in fixed assets (net)
+€3,710
Financing
-€53,143
Debts after one year
-€54,193
Current portion of long-term debt
+€7,050
Short-term financial debts
-€6,000
Cash 2025
€15,844
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,547,989 | €1,487,626 | -€60,363 | -3.9% |
| Fixed assets | 21/28 | €1,434,176 | €1,334,508 | -€99,668 | -6.9% |
| Tangible fixed assets | 22/27 | €1,434,176 | €1,334,508 | -€99,668 | -6.9% |
| Land and buildings | 22 | €1,434,176 | €1,334,508 | -€99,668 | -6.9% |
| Current assets | 29/58 | €113,813 | €153,118 | +€39,304 | +34.5% |
| Stocks and contracts in progress | 3 | €72,482 | €106,216 | +€33,734 | +46.5% |
| Stocks | 30/36 | €72,482 | €106,216 | +€33,734 | +46.5% |
| Amounts receivable within one year | 40/41 | €38,954 | €30,263 | -€8,690 | -22.3% |
| Other amounts receivable | 41 | €38,954 | €30,263 | -€8,690 | -22.3% |
| Cash at bank and in hand | 54/58 | €1,158 | €15,844 | +€14,686 | +1,268% |
| Deferred charges and accrued income | 490/1 | €1,220 | €794 | -€426 | -34.9% |
| Total equity and liabilities | 10/49 | €1,547,989 | €1,487,626 | -€60,363 | -3.9% |
| Equity | 10/15 | €497,399 | €509,840 | +€12,442 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €478,799 | €491,240 | +€12,442 | +2.6% |
| Tax-exempt reserves | 132 | €292,866 | €272,071 | -€20,795 | -7.1% |
| Distributable reserves | 133 | €185,933 | €219,169 | +€33,236 | +17.9% |
| Provisions and deferred taxes | 16 | €89,973 | €81,164 | -€8,809 | -9.8% |
| Deferred taxes | 168 | €89,973 | €81,164 | -€8,809 | -9.8% |
| Amounts payable | 17/49 | €960,617 | €896,621 | -€63,996 | -6.7% |
| Amounts payable after more than one year | 17 | €781,844 | €727,651 | -€54,193 | -6.9% |
| Financial debts | 170/4 | €781,844 | €727,651 | -€54,193 | -6.9% |
| Amounts payable within one year | 42/48 | €178,773 | €168,970 | -€9,803 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €86,451 | €93,501 | +€7,050 | +8.2% |
| Financial debts | 43 | €6,000 | - | -€6,000 | |
| Credit institutions | 430/8 | €6,000 | - | -€6,000 | |
| Trade debts | 44 | €48,239 | €19,685 | -€28,555 | -59.2% |
| Suppliers | 440/4 | €48,239 | €19,685 | -€28,555 | -59.2% |
| Advances received on contracts in progress | 46 | €20,510 | €32,985 | +€12,475 | +60.8% |
| Taxes, remuneration and social security | 45 | €2,510 | €6,697 | +€4,187 | +167% |
| Taxes | 450/3 | €2,510 | €6,697 | +€4,187 | +167% |
| Other amounts payable | 47/48 | €15,063 | €16,103 | +€1,039 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,348 | €95,958 | -€6,390 | -6.2% |
| Other operating charges | 640/8 | €16,416 | €17,304 | +€887 | +5.4% |
| Gross operating margin | 9900 | €148,581 | €155,560 | +€6,979 | +4.7% |
| Operating profit (loss) | 9901 | €29,817 | €42,299 | +€12,482 | +41.9% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €22,463 | €21,638 | -€825 | -3.7% |
| Recurring financial charges | 65 | €22,463 | €21,638 | -€825 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €7,354 | €20,676 | +€13,322 | +181% |
| Transfer from deferred taxes | 780 | €8,809 | €8,809 | = | 0.0% |
| Income taxes | 67/77 | €11,855 | €17,043 | +€5,187 | +43.8% |
| Profit (loss) for the period | 9904 | €4,307 | €12,442 | +€8,135 | +189% |
| Transfer from tax-exempt reserves | 789 | €20,795 | €20,795 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,102 | €33,236 | +€8,135 | +32.4% |
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 23 October 2026 via checked.be.