Ace Law: 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 Law
Largest movements
- Cash +€1.1m
up €1.1m (+142%), from €778,949 to €1.9m
mainly Net result for the year (+€1.3m) and Receivables within one year (+€526,605)
- Receivables within one year -€526,605
down €526,605 (-66.6%), from €791,236 to €264,630
of which Trade receivables: -€583,392
- Deferred charges and accrued income +€30,327
up €30,327 (+5,987%), from €507 to €30,833
- Reserves +€830,457
up €830,457 (+37,765%), from €2,199 to €832,656
- Other debts -€299,748
down €299,748 (-99.9%), from €300,155 to €407
- Tax, wage and social debts -€282,626
down €282,626 (-82.5%), from €342,615 to €59,989
- Short-term financial debts +€258,333
up €258,333 (+93.9%), from €275,000 to €533,333
- Trade debts +€132,756
up €132,756 (+28.9%), from €458,579 to €591,335
- Gross operating margin +€889,491
up €889,491 (+96.2%), from €925,071 to €1.8m
- Taxes +€241,035
up €241,035 (+114%), from €210,700 to €451,735
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 | €1,603,162 | €2,213,091 | +€609,929 | +38.0% |
| Fixed assets | 21/28 | €32,471 | €30,761 | -€1,710 | -5.3% |
| Tangible fixed assets | 22/27 | €29,546 | €27,836 | -€1,710 | -5.8% |
| Plant, machinery and equipment | 23 | €803 | - | -€803 | |
| Furniture and vehicles | 24 | €15,140 | €15,701 | +€562 | +3.7% |
| Other tangible fixed assets | 26 | €13,604 | €12,135 | -€1,469 | -10.8% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €1,570,691 | €2,182,330 | +€611,640 | +38.9% |
| Amounts receivable within one year | 40/41 | €791,236 | €264,630 | -€526,605 | -66.6% |
| Trade receivables | 40 | €780,590 | €197,198 | -€583,392 | -74.7% |
| Other amounts receivable | 41 | €10,646 | €67,433 | +€56,787 | +533% |
| Cash at bank and in hand | 54/58 | €778,949 | €1,886,867 | +€1.1m | +142% |
| Deferred charges and accrued income | 490/1 | €507 | €30,833 | +€30,327 | +5,987% |
| Total equity and liabilities | 10/49 | €1,603,162 | €2,213,091 | +€609,929 | +38.0% |
| Equity | 10/15 | €102,199 | €932,656 | +€830,457 | +813% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,199 | €832,656 | +€830,457 | +37,765% |
| Distributable reserves | 133 | €2,199 | €832,656 | +€830,457 | +37,765% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,500,963 | €1,280,436 | -€220,527 | -14.7% |
| Amounts payable after more than one year | 17 | €86,574 | €49,239 | -€37,336 | -43.1% |
| Financial debts | 170/4 | €86,574 | €49,239 | -€37,336 | -43.1% |
| Amounts payable within one year | 42/48 | €1,414,389 | €1,222,401 | -€191,988 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €38,040 | €37,336 | -€704 | -1.9% |
| Financial debts | 43 | €275,000 | €533,333 | +€258,333 | +93.9% |
| Credit institutions | 430/8 | €275,000 | €533,333 | +€258,333 | +93.9% |
| Trade debts | 44 | €458,579 | €591,335 | +€132,756 | +28.9% |
| Suppliers | 440/4 | €458,579 | €591,335 | +€132,756 | +28.9% |
| Taxes, remuneration and social security | 45 | €342,615 | €59,989 | -€282,626 | -82.5% |
| Taxes | 450/3 | €342,615 | €59,989 | -€282,626 | -82.5% |
| Other amounts payable | 47/48 | €300,155 | €407 | -€299,748 | -99.9% |
| Accrued charges and deferred income | 492/3 | - | €8,797 | +€8,797 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,391 | €4,459 | +€1,068 | +31.5% |
| Other operating charges | 640/8 | €5,251 | €9,674 | +€4,423 | +84.2% |
| Non-recurring operating charges | 66A | €139,446 | €0 | -€139,446 | -100% |
| Gross operating margin | 9900 | €925,071 | €1,814,563 | +€889,491 | +96.2% |
| Operating profit (loss) | 9901 | €776,984 | €1,800,430 | +€1.0m | +132% |
| Financial income | 75/76B | €10,878 | €8,532 | -€2,346 | -21.6% |
| Recurring financial income | 75 | €10,878 | €8,532 | -€2,346 | -21.6% |
| Financial charges | 65/66B | €12,556 | €26,770 | +€14,213 | +113% |
| Recurring financial charges | 65 | €12,556 | €26,770 | +€14,213 | +113% |
| Profit (loss) for the period before taxes | 9903 | €775,305 | €1,782,192 | +€1.0m | +130% |
| Income taxes | 67/77 | €210,700 | €451,735 | +€241,035 | +114% |
| Profit (loss) for the period | 9904 | €564,605 | €1,330,457 | +€765,852 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €564,605 | €1,330,457 | +€765,852 | +136% |
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 22 October 2026 via checked.be.