ACG Rietveld: 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.
ACG Rietveld
Largest movements
- Tangible fixed assets +€15.0m
up €15.0m (+167%), from €9.0m to €24.0m
- Debts after one year +€15.1m
up €15.1m (+314%), from €4.8m to €20.0m
- Profit (loss) carried forward -€971,707
down €971,707 (-53.7%), from €1.8m to €838,531
- Other debts +€349,454
up €349,454 (+14.9%), from €2.4m to €2.7m
- Depreciation +€443,128
up €443,128 (+390%), from €113,610 to €556,738
- Financial charges +€416,398
up €416,398 (+598%), from €69,685 to €486,083
- Gross operating margin -€119,546
down €119,546 (-61.0%), from €195,896 to €76,349
- Other operating charges -€48,232
down €48,232 (-83.1%), from €58,011 to €9,778
- Financial income -€3,875
down €3,875 (-46.0%), from €8,418 to €4,543
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 | €9,363,156 | €24,124,816 | +€14.8m | +158% |
| Fixed assets | 21/28 | €8,981,779 | €23,974,608 | +€15.0m | +167% |
| Tangible fixed assets | 22/27 | €8,981,779 | €23,974,608 | +€15.0m | +167% |
| Land and buildings | 22 | €8,981,779 | €23,974,608 | +€15.0m | +167% |
| Current assets | 29/58 | €381,377 | €150,207 | -€231,169 | -60.6% |
| Amounts receivable within one year | 40/41 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 41 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €272,507 | €49,899 | -€222,607 | -81.7% |
| Deferred charges and accrued income | 490/1 | €58,870 | €50,308 | -€8,562 | -14.5% |
| Total equity and liabilities | 10/49 | €9,363,156 | €24,124,816 | +€14.8m | +158% |
| Equity | 10/15 | €2,036,012 | €1,064,305 | -€971,707 | -47.7% |
| Contributions | 10/11 | €207,046 | €207,046 | = | 0.0% |
| Reserves | 13 | €18,729 | €18,729 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,729 | €18,729 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,810,237 | €838,531 | -€971,707 | -53.7% |
| Amounts payable | 17/49 | €7,327,144 | €23,060,510 | +€15.7m | +215% |
| Amounts payable after more than one year | 17 | €4,815,860 | €19,952,886 | +€15.1m | +314% |
| Financial debts | 170/4 | €4,815,860 | €19,952,886 | +€15.1m | +314% |
| Amounts payable within one year | 42/48 | €2,453,185 | €2,826,014 | +€372,828 | +15.2% |
| Trade debts | 44 | €9,983 | €69,790 | +€59,807 | +599% |
| Suppliers | 440/4 | €9,983 | €69,790 | +€59,807 | +599% |
| Taxes, remuneration and social security | 45 | €92,656 | €56,223 | -€36,432 | -39.3% |
| Taxes | 450/3 | €92,656 | €56,223 | -€36,432 | -39.3% |
| Other amounts payable | 47/48 | €2,350,546 | €2,700,000 | +€349,454 | +14.9% |
| Accrued charges and deferred income | 492/3 | €58,098 | €281,611 | +€223,513 | +385% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,610 | €556,738 | +€443,128 | +390% |
| Other operating charges | 640/8 | €58,011 | €9,778 | -€48,232 | -83.1% |
| Non-recurring operating charges | 66A | €55,119 | - | -€55,119 | |
| Gross operating margin | 9900 | €195,896 | €76,349 | -€119,546 | -61.0% |
| Operating profit (loss) | 9901 | -€30,844 | -€490,167 | -€459,323 | -1,489% |
| Financial income | 75/76B | €8,418 | €4,543 | -€3,875 | -46.0% |
| Recurring financial income | 75 | €8,418 | €4,543 | -€3,875 | -46.0% |
| Financial charges | 65/66B | €69,685 | €486,083 | +€416,398 | +598% |
| Recurring financial charges | 65 | €69,685 | €486,083 | +€416,398 | +598% |
| Profit (loss) for the period before taxes | 9903 | -€92,112 | -€971,707 | -€879,595 | -955% |
| Profit (loss) for the period | 9904 | -€92,112 | -€971,707 | -€879,595 | -955% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,112 | -€971,707 | -€879,595 | -955% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.