ACF Construct: 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 Construct
Largest movements
- Receivables within one year +€70,992
up €70,992 (+108.4%), from €65,478 to €136,470
of which Trade receivables: +€73,192
- Intangible fixed assets +€37,019
new in 2025: €37,019
- Tangible fixed assets +€32,359
up €32,359 (+1188.8%), from €2,722 to €35,081
of which Furniture and vehicles: +€19,939
- Cash -€7,515
down €7,515 (-48.1%), from €15,624 to €8,109
mainly Investment in fixed assets (net) (-€78,281) and Receivables within one year (-€70,992)
- Trade debts +€103,924
up €103,924 (+821.5%), from €12,651 to €116,575
- Profit (loss) carried forward +€36,796
up €36,796 (+235.9%), from €15,595 to €52,391
- Current portion of long-term debt -€19,769
no longer reported in 2025 (was €19,769)
- Tax, wage and social debts +€19,067
up €19,067 (+88.6%), from €21,530 to €40,597
of which Taxes: +€12,401
- Other debts -€7,163
down €7,163 (-63.5%), from €11,279 to €4,116
- Gross operating margin +€46,724
up €46,724 (+312.9%), from €14,932 to €61,656
- Taxes +€9,688
up €9,688 (+257.1%), from €3,768 to €13,456
- Depreciation +€8,125
up €8,125 (+1044.3%), from €778 to €8,903
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 | €83,824 | €216,679 | +€132,855 | +158.5% |
| Fixed assets | 21/28 | €2,722 | €72,100 | +€69,378 | +2548.8% |
| Intangible fixed assets | 21 | - | €37,019 | +€37,019 | |
| Tangible fixed assets | 22/27 | €2,722 | €35,081 | +€32,359 | +1188.8% |
| Land and buildings | 22 | - | €12,420 | +€12,420 | |
| Furniture and vehicles | 24 | €2,722 | €22,661 | +€19,939 | +732.5% |
| Current assets | 29/58 | €81,102 | €144,579 | +€63,477 | +78.3% |
| Amounts receivable within one year | 40/41 | €65,478 | €136,470 | +€70,992 | +108.4% |
| Trade receivables | 40 | €61,186 | €134,378 | +€73,192 | +119.6% |
| Other amounts receivable | 41 | €4,292 | €2,092 | -€2,200 | -51.3% |
| Cash at bank and in hand | 54/58 | €15,624 | €8,109 | -€7,515 | -48.1% |
| Total equity and liabilities | 10/49 | €83,824 | €216,679 | +€132,855 | +158.5% |
| Equity | 10/15 | €18,595 | €55,391 | +€36,796 | +197.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,595 | €52,391 | +€36,796 | +235.9% |
| Amounts payable | 17/49 | €65,229 | €161,288 | +€96,059 | +147.3% |
| Amounts payable within one year | 42/48 | €65,229 | €161,288 | +€96,059 | +147.3% |
| Current portion of amounts payable after more than one year | 42 | €19,769 | - | -€19,769 | |
| Trade debts | 44 | €12,651 | €116,575 | +€103,924 | +821.5% |
| Suppliers | 440/4 | €12,651 | €116,575 | +€103,924 | +821.5% |
| Taxes, remuneration and social security | 45 | €21,530 | €40,597 | +€19,067 | +88.6% |
| Taxes | 450/3 | €8,880 | €21,281 | +€12,401 | +139.7% |
| Remuneration and social security | 454/9 | €12,650 | €19,316 | +€6,666 | +52.7% |
| Other amounts payable | 47/48 | €11,279 | €4,116 | -€7,163 | -63.5% |
| Remuneration, social security and pensions | 62 | - | €83 | +€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778 | €8,903 | +€8,125 | +1044.3% |
| Other operating charges | 640/8 | €540 | €1,093 | +€553 | +102.4% |
| Gross operating margin | 9900 | €14,932 | €61,656 | +€46,724 | +312.9% |
| Operating profit (loss) | 9901 | €13,614 | €51,577 | +€37,963 | +278.9% |
| Financial income | 75/76B | €1 | €5 | +€4 | +400.0% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +400.0% |
| Financial charges | 65/66B | €723 | €1,330 | +€607 | +84.0% |
| Recurring financial charges | 65 | €723 | €1,330 | +€607 | +84.0% |
| Profit (loss) for the period before taxes | 9903 | €12,892 | €50,252 | +€37,360 | +289.8% |
| Income taxes | 67/77 | €3,768 | €13,456 | +€9,688 | +257.1% |
| Profit (loss) for the period | 9904 | €9,124 | €36,796 | +€27,672 | +303.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,124 | €36,796 | +€27,672 | +303.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.