ACF: what changed
Two fiscal 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.
ACF
Largest movements
- Cash +€451,173
up €451,173 (+289.7%), from €155,737 to €606,911
mainly Current investments (+€400,000) and Net result for the year (+€241,914)
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Receivables within one year +€241,626
up €241,626 (+41.6%), from €581,339 to €822,964
of which Other amounts receivable: +€153,295
- Reserves +€241,914
up €241,914 (+24.5%), from €986,487 to €1.2m
- Tax, wage and social debts +€31,983
up €31,983 (+36.0%), from €88,792 to €120,775
of which Taxes: +€24,255
- Trade debts +€24,701
up €24,701 (+40.4%), from €61,095 to €85,795
- Gross operating margin +€223,943
up €223,943 (+20.0%), from €1.1m to €1.3m
- Staff costs +€203,998
up €203,998 (+25.1%), from €811,235 to €1.0m
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.
Cash bridge derived
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 | €1,152,127 | €1,450,725 | +€298,598 | +25.9% |
| Fixed assets | 21/28 | €4,449 | €9,854 | +€5,405 | +121.5% |
| Tangible fixed assets | 22/27 | €3,234 | €8,639 | +€5,405 | +167.1% |
| Plant, machinery and equipment | 23 | €3,234 | €2,734 | -€500 | -15.5% |
| Furniture and vehicles | 24 | - | €5,905 | +€5,905 | |
| Financial fixed assets | 28 | €1,215 | €1,215 | = | 0.0% |
| Current assets | 29/58 | €1,147,678 | €1,440,871 | +€293,193 | +25.5% |
| Amounts receivable within one year | 40/41 | €581,339 | €822,964 | +€241,626 | +41.6% |
| Trade receivables | 40 | €456,584 | €544,914 | +€88,330 | +19.3% |
| Other amounts receivable | 41 | €124,755 | €278,050 | +€153,295 | +122.9% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €155,737 | €606,911 | +€451,173 | +289.7% |
| Deferred charges and accrued income | 490/1 | €10,602 | €10,996 | +€394 | +3.7% |
| Total equity and liabilities | 10/49 | €1,152,127 | €1,450,725 | +€298,598 | +25.9% |
| Equity | 10/15 | €1,001,487 | €1,243,401 | +€241,914 | +24.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €986,487 | €1,228,401 | +€241,914 | +24.5% |
| Distributable reserves | 133 | €986,487 | €1,228,401 | +€241,914 | +24.5% |
| Amounts payable | 17/49 | €150,641 | €207,324 | +€56,683 | +37.6% |
| Amounts payable after more than one year | 17 | €754 | €754 | = | 0.0% |
| Other amounts payable | 178/9 | €754 | €754 | = | 0.0% |
| Amounts payable within one year | 42/48 | €149,887 | €206,570 | +€56,683 | +37.8% |
| Trade debts | 44 | €61,095 | €85,795 | +€24,701 | +40.4% |
| Suppliers | 440/4 | €61,095 | €85,795 | +€24,701 | +40.4% |
| Taxes, remuneration and social security | 45 | €88,792 | €120,775 | +€31,983 | +36.0% |
| Taxes | 450/3 | €7,801 | €32,056 | +€24,255 | +310.9% |
| Remuneration and social security | 454/9 | €80,992 | €88,719 | +€7,727 | +9.5% |
| Remuneration, social security and pensions | 62 | €811,235 | €1,015,234 | +€203,998 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €595 | +€95 | +19.1% |
| Other operating charges | 640/8 | €10,429 | €6,690 | -€3,738 | -35.8% |
| Gross operating margin | 9900 | €1,120,244 | €1,344,187 | +€223,943 | +20.0% |
| Operating profit (loss) | 9901 | €298,080 | €321,667 | +€23,587 | +7.9% |
| Financial income | 75/76B | €1,915 | €3,814 | +€1,899 | +99.2% |
| Recurring financial income | 75 | €1,915 | €3,814 | +€1,899 | +99.2% |
| Financial charges | 65/66B | €2,836 | €2,247 | -€589 | -20.8% |
| Recurring financial charges | 65 | €2,836 | €2,247 | -€589 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €297,159 | €323,235 | +€26,076 | +8.8% |
| Income taxes | 67/77 | €74,666 | €81,320 | +€6,654 | +8.9% |
| Profit (loss) for the period | 9904 | €222,493 | €241,914 | +€19,421 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €222,493 | €241,914 | +€19,421 | +8.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.