ACEL: 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.
ACEL
Largest movements
- Tangible fixed assets -€17,483
down €17,483 (-4.4%), from €401,128 to €383,646
of which Land and buildings: -€16,061
- Cash -€10,965
down €10,965 (-29.1%), from €37,717 to €26,752
mainly Net result for the year (-€10,331) and Debts after one year (-€9,260)
- Debts after one year -€9,260
down €9,260 (-6.2%), from €149,402 to €140,142
- Profit (loss) carried forward -€6,244
down €6,244 (-35.8%), from €17,424 to €11,181
- Gross operating margin -€1,463
down €1,463 (-11.3%), from €12,996 to €11,534
- Financial charges -€246
down €246 (-7.3%), from €3,388 to €3,142
- Depreciation -€153
down €153 (-0.9%), from €17,636 to €17,483
- Other operating charges +€135
up €135 (+4.0%), from €3,411 to €3,546
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €452,015 | €427,323 | -€24,692 | -5.5% |
| Fixed assets | 21/28 | €401,128 | €384,346 | -€16,783 | -4.2% |
| Tangible fixed assets | 22/27 | €401,128 | €383,646 | -€17,483 | -4.4% |
| Land and buildings | 22 | €398,413 | €382,352 | -€16,061 | -4.0% |
| Plant, machinery and equipment | 23 | €1,902 | €588 | -€1,314 | -69.1% |
| Furniture and vehicles | 24 | €813 | €706 | -€107 | -13.2% |
| Financial fixed assets | 28 | - | €700 | +€700 | |
| Current assets | 29/58 | €50,887 | €42,977 | -€7,909 | -15.5% |
| Amounts receivable within one year | 40/41 | €13,170 | €14,931 | +€1,762 | +13.4% |
| Trade receivables | 40 | €6,891 | €8,452 | +€1,562 | +22.7% |
| Other amounts receivable | 41 | €6,279 | €6,479 | +€200 | +3.2% |
| Cash at bank and in hand | 54/58 | €37,717 | €26,752 | -€10,965 | -29.1% |
| Deferred charges and accrued income | 490/1 | - | €1,294 | +€1,294 | |
| Total equity and liabilities | 10/49 | €452,015 | €427,323 | -€24,692 | -5.5% |
| Equity | 10/15 | €197,882 | €187,551 | -€10,331 | -5.2% |
| Contributions | 10/11 | €78,616 | €78,616 | = | 0.0% |
| Reserves | 13 | €101,842 | €97,754 | -€4,087 | -4.0% |
| Tax-exempt reserves | 132 | €101,842 | €97,754 | -€4,087 | -4.0% |
| Profit (loss) carried forward | 14 | €17,424 | €11,181 | -€6,244 | -35.8% |
| Provisions and deferred taxes | 16 | €52,436 | €50,330 | -€2,106 | -4.0% |
| Deferred taxes | 168 | €52,436 | €50,330 | -€2,106 | -4.0% |
| Amounts payable | 17/49 | €201,697 | €189,442 | -€12,255 | -6.1% |
| Amounts payable after more than one year | 17 | €149,402 | €140,142 | -€9,260 | -6.2% |
| Financial debts | 170/4 | €149,402 | €140,142 | -€9,260 | -6.2% |
| Amounts payable within one year | 42/48 | €50,965 | €45,875 | -€5,090 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €9,083 | €9,260 | +€177 | +1.9% |
| Trade debts | 44 | €5,303 | €3,056 | -€2,247 | -42.4% |
| Suppliers | 440/4 | €5,303 | €3,056 | -€2,247 | -42.4% |
| Other amounts payable | 47/48 | €36,579 | €33,559 | -€3,020 | -8.3% |
| Accrued charges and deferred income | 492/3 | €1,331 | €3,425 | +€2,095 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,636 | €17,483 | -€153 | -0.9% |
| Other operating charges | 640/8 | €3,411 | €3,546 | +€135 | +4.0% |
| Gross operating margin | 9900 | €12,996 | €11,534 | -€1,463 | -11.3% |
| Operating profit (loss) | 9901 | -€8,050 | -€9,495 | -€1,444 | -17.9% |
| Financial income | 75/76B | €201 | €200 | -€1 | -0.6% |
| Recurring financial income | 75 | €201 | €200 | -€1 | -0.6% |
| Financial charges | 65/66B | €3,388 | €3,142 | -€246 | -7.3% |
| Recurring financial charges | 65 | €3,388 | €3,142 | -€246 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,237 | -€12,437 | -€1,200 | -10.7% |
| Transfer from deferred taxes | 780 | €2,106 | €2,106 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€9,131 | -€10,331 | -€1,200 | -13.1% |
| Transfer from tax-exempt reserves | 789 | €4,087 | €4,087 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,044 | -€6,244 | -€1,200 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.