Acebo: 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
Acebo
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€762,551
2024 · €432,766+€329,786
Equity
€6.2m
2024 · €5.9m+€243,249
Cash
€146,065
2024 · €169,312-€23,247
Balance sheet total
€7.3m
2024 · €7.3m+€72,231
Largest movements
Assets
- Current investments +€314,526
up €314,526 (+7.1%), from €4.4m to €4.7m
- Tangible fixed assets -€238,343
down €238,343 (-10.8%), from €2.2m to €2.0m
of which Land and buildings: -€238,343
Equity and liabilities
- Reserves +€248,342
up €248,342 (+4.3%), from €5.8m to €6.0m
of which Distributable reserves: +€597,242
- Other debts -€183,841
down €183,841 (-46.8%), from €392,409 to €208,568
Income statement
- Gross operating margin +€400,055
up €400,055 (+53.4%), from €749,119 to €1.1m
- Taxes +€116,088
up €116,088 (+50.2%), from €231,445 to €347,533
- Financial income +€68,762
up €68,762 (+83.1%), from €82,787 to €151,549
- Depreciation -€17,362
down €17,362 (-14.5%), from €120,105 to €102,743
- Financial charges +€13,507
up €13,507 (+37.1%), from €36,417 to €49,924
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
€432,766
Gross operating margin
+€400,055
Depreciation
+€17,362
Other operating charges
-€698
Financial income
+€68,762
Financial charges
-€13,507
Taxes
-€116,088
Deferred taxes and other
-€26,100
Result 2025
€762,551
raises the resultlowers the resultnot broken down further in the accounts
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
+€742,888
Investment
-€178,926
Financing
-€587,209
Cash 2024
€169,312
From operations (derived)
+€742,888
Net result for the year
+€762,551
Depreciation
+€102,743
Receivables within one year
-€15,622
Deferred charges and accrued income
-€3,673
Provisions
+€24,402
Trade debts
-€826
Tax, wage and social debts
+€59,763
Other debts
-€183,841
Accrued charges and deferred income
-€2,610
Investment (derived)
-€178,926
Investment in fixed assets (net)
+€135,600
Current investments
-€314,526
Financing
-€587,209
Debts after one year
-€68,973
Current portion of long-term debt
+€1,067
Contributions, distributions and other
-€519,302
Cash 2025
€146,065
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,265,566 | €7,337,798 | +€72,231 | +1.0% |
| Fixed assets | 21/28 | €2,213,114 | €1,974,771 | -€238,343 | -10.8% |
| Tangible fixed assets | 22/27 | €2,212,914 | €1,974,571 | -€238,343 | -10.8% |
| Land and buildings | 22 | €2,212,914 | €1,974,571 | -€238,343 | -10.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €201 | €201 | = | 0.0% |
| Current assets | 29/58 | €5,052,452 | €5,363,026 | +€310,574 | +6.1% |
| Amounts receivable within one year | 40/41 | €403,400 | €419,022 | +€15,622 | +3.9% |
| Trade receivables | 40 | €403,400 | €419,022 | +€15,622 | +3.9% |
| Current investments | 50/53 | €4,422,937 | €4,737,463 | +€314,526 | +7.1% |
| Cash at bank and in hand | 54/58 | €169,312 | €146,065 | -€23,247 | -13.7% |
| Deferred charges and accrued income | 490/1 | €56,804 | €60,477 | +€3,673 | +6.5% |
| Total equity and liabilities | 10/49 | €7,265,566 | €7,337,798 | +€72,231 | +1.0% |
| Equity | 10/15 | €5,914,749 | €6,157,998 | +€243,249 | +4.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €5,787,006 | €6,035,348 | +€248,342 | +4.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €721,900 | €373,000 | -€348,900 | -48.3% |
| Distributable reserves | 133 | €5,065,106 | €5,662,348 | +€597,242 | +11.8% |
| Profit (loss) carried forward | 14 | €8,849 | €8,849 | = | 0.0% |
| Investment grants | 15 | €100,343 | €95,250 | -€5,093 | -5.1% |
| Provisions and deferred taxes | 16 | €33,448 | €57,850 | +€24,402 | +73.0% |
| Deferred taxes | 168 | €33,448 | €57,850 | +€24,402 | +73.0% |
| Amounts payable | 17/49 | €1,317,370 | €1,121,950 | -€195,420 | -14.8% |
| Amounts payable after more than one year | 17 | €706,591 | €637,617 | -€68,973 | -9.8% |
| Financial debts | 170/4 | €689,491 | €611,517 | -€77,973 | -11.3% |
| Other amounts payable | 178/9 | €17,100 | €26,100 | +€9,000 | +52.6% |
| Amounts payable within one year | 42/48 | €604,700 | €480,863 | -€123,837 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €76,906 | €77,973 | +€1,067 | +1.4% |
| Trade debts | 44 | €8,014 | €7,188 | -€826 | -10.3% |
| Suppliers | 440/4 | €8,014 | €7,188 | -€826 | -10.3% |
| Taxes, remuneration and social security | 45 | €127,370 | €187,134 | +€59,763 | +46.9% |
| Taxes | 450/3 | €127,370 | €187,134 | +€59,763 | +46.9% |
| Other amounts payable | 47/48 | €392,409 | €208,568 | -€183,841 | -46.8% |
| Accrued charges and deferred income | 492/3 | €6,079 | €3,469 | -€2,610 | -42.9% |
| Non-recurring operating income | 76A | - | €104,400 | +€104,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,105 | €102,743 | -€17,362 | -14.5% |
| Other operating charges | 640/8 | €12,871 | €13,569 | +€698 | +5.4% |
| Gross operating margin | 9900 | €749,119 | €1,149,174 | +€400,055 | +53.4% |
| Operating profit (loss) | 9901 | €616,143 | €1,032,862 | +€416,719 | +67.6% |
| Financial income | 75/76B | €82,787 | €151,549 | +€68,762 | +83.1% |
| Recurring financial income | 75 | €82,787 | €151,549 | +€68,762 | +83.1% |
| Financial charges | 65/66B | €36,417 | €49,924 | +€13,507 | +37.1% |
| Recurring financial charges | 65 | €36,417 | €49,924 | +€13,507 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €662,513 | €1,134,487 | +€471,974 | +71.2% |
| Transfer from deferred taxes | 780 | €1,698 | €1,698 | +€0 | 0.0% |
| Transfer to deferred taxes | 680 | - | €26,100 | +€26,100 | |
| Income taxes | 67/77 | €231,445 | €347,533 | +€116,088 | +50.2% |
| Profit (loss) for the period | 9904 | €432,766 | €762,551 | +€329,786 | +76.2% |
| Transfer from tax-exempt reserves | 789 | €267,000 | €427,200 | +€160,200 | +60.0% |
| Transfer to tax-exempt reserves | 689 | - | €78,300 | +€78,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €699,766 | €1,111,451 | +€411,686 | +58.8% |
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 14 October 2026 via checked.be.