ACEB: 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.
ACEB
Largest movements
- Tangible fixed assets +€765,392
up €765,392 (+2,240%), from €34,173 to €799,565
of which Land and buildings: +€784,548
- Cash +€31,012
up €31,012 (+54.5%), from €56,934 to €87,946
mainly Debts after one year (+€753,099) and Depreciation (+€122,702)
- Receivables within one year -€11,906
down €11,906 (-13.0%), from €91,385 to €79,479
of which Other amounts receivable: -€13,246
- Debts after one year +€753,099
up €753,099 (+9,223%), from €8,166 to €761,265
of which Financial debts: +€403,099
- Current portion of long-term debt +€34,699
up €34,699 (+106%), from €32,759 to €67,458
- Other debts -€15,266
down €15,266 (-16.5%), from €92,530 to €77,264
- Depreciation +€98,124
up €98,124 (+399%), from €24,578 to €122,702
- Gross operating margin +€89,588
up €89,588 (+49.4%), from €181,489 to €271,076
- Staff costs +€61,356
new in 2025: €61,356
- Taxes -€16,870
down €16,870 (-39.3%), from €42,965 to €26,095
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 | €188,255 | €971,600 | +€783,345 | +416% |
| Fixed assets | 21/28 | €34,173 | €799,565 | +€765,392 | +2,240% |
| Tangible fixed assets | 22/27 | €34,173 | €799,565 | +€765,392 | +2,240% |
| Land and buildings | 22 | - | €784,548 | +€784,548 | |
| Furniture and vehicles | 24 | €26,710 | €10,353 | -€16,356 | -61.2% |
| Other tangible fixed assets | 26 | €7,463 | €4,663 | -€2,800 | -37.5% |
| Current assets | 29/58 | €154,083 | €172,035 | +€17,952 | +11.7% |
| Amounts receivable within one year | 40/41 | €91,385 | €79,479 | -€11,906 | -13.0% |
| Trade receivables | 40 | €64,340 | €65,679 | +€1,339 | +2.1% |
| Other amounts receivable | 41 | €27,046 | €13,800 | -€13,246 | -49.0% |
| Cash at bank and in hand | 54/58 | €56,934 | €87,946 | +€31,012 | +54.5% |
| Deferred charges and accrued income | 490/1 | €5,763 | €4,610 | -€1,153 | -20.0% |
| Total equity and liabilities | 10/49 | €188,255 | €971,600 | +€783,345 | +416% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €167,795 | €951,140 | +€783,345 | +467% |
| Amounts payable after more than one year | 17 | €8,166 | €761,265 | +€753,099 | +9,223% |
| Financial debts | 170/4 | €8,166 | €411,265 | +€403,099 | +4,936% |
| Other amounts payable | 178/9 | - | €350,000 | +€350,000 | |
| Amounts payable within one year | 42/48 | €159,630 | €189,875 | +€30,245 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €32,759 | €67,458 | +€34,699 | +106% |
| Trade debts | 44 | €2,500 | €7,588 | +€5,088 | +204% |
| Suppliers | 440/4 | €2,500 | €7,588 | +€5,088 | +204% |
| Taxes, remuneration and social security | 45 | €31,841 | €37,566 | +€5,725 | +18.0% |
| Taxes | 450/3 | €31,841 | €27,088 | -€4,752 | -14.9% |
| Remuneration and social security | 454/9 | - | €10,477 | +€10,477 | |
| Other amounts payable | 47/48 | €92,530 | €77,264 | -€15,266 | -16.5% |
| Remuneration, social security and pensions | 62 | - | €61,356 | +€61,356 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,578 | €122,702 | +€98,124 | +399% |
| Other operating charges | 640/8 | €1,887 | €2,930 | +€1,043 | +55.3% |
| Gross operating margin | 9900 | €181,489 | €271,076 | +€89,588 | +49.4% |
| Operating profit (loss) | 9901 | €155,024 | €84,089 | -€70,936 | -45.8% |
| Financial income | 75/76B | €532 | €105 | -€427 | -80.2% |
| Recurring financial income | 75 | €532 | €105 | -€427 | -80.2% |
| Financial charges | 65/66B | €3,733 | €5,465 | +€1,732 | +46.4% |
| Recurring financial charges | 65 | €3,733 | €5,465 | +€1,732 | +46.4% |
| Profit (loss) for the period before taxes | 9903 | €151,824 | €78,729 | -€73,094 | -48.1% |
| Income taxes | 67/77 | €42,965 | €26,095 | -€16,870 | -39.3% |
| Profit (loss) for the period | 9904 | €108,859 | €52,634 | -€56,225 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,859 | €52,634 | -€56,225 | -51.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.