ACHECO: 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.
ACHECO
Largest movements
- Tangible fixed assets -€139,822
down €139,822 (-14.2%), from €982,194 to €842,372
of which Plant, machinery and equipment: -€73,258
- Stocks and contracts +€30,511
up €30,511 (+12.2%), from €250,038 to €280,550
- Deferred charges and accrued income -€24,579
down €24,579 (-94.4%), from €26,049 to €1,470
- Financial fixed assets +€18,032
new in 2025: €18,032
- Receivables within one year -€14,659
down €14,659 (-38.7%), from €37,873 to €23,215
of which Other amounts receivable: -€13,461
- Debts after one year -€146,822
down €146,822 (-14.2%), from €1.0m to €887,452
of which Other amounts payable: -€98,000
- Trade debts -€53,973
down €53,973 (-44.1%), from €122,381 to €68,408
- Other debts +€37,632
up €37,632 (+2577.2%), from €1,460 to €39,093
- Gross operating margin +€84,000
up €84,000 (+14.5%), from €579,947 to €663,946
- Financial charges -€15,592
down €15,592 (-17.6%), from €88,504 to €72,913
- Financial income -€12,071
down €12,071 (-56.4%), from €21,395 to €9,324
- Other operating charges +€8,680
up €8,680 (+445.9%), from €1,946 to €10,626
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 | €1,392,681 | €1,240,504 | -€152,177 | -10.9% |
| Fixed assets | 21/28 | €993,139 | €860,404 | -€132,735 | -13.4% |
| Intangible fixed assets | 21 | €10,945 | - | -€10,945 | |
| Tangible fixed assets | 22/27 | €982,194 | €842,372 | -€139,822 | -14.2% |
| Plant, machinery and equipment | 23 | €486,384 | €413,126 | -€73,258 | -15.1% |
| Furniture and vehicles | 24 | €17,778 | €12,180 | -€5,599 | -31.5% |
| Other tangible fixed assets | 26 | €478,032 | €417,066 | -€60,966 | -12.8% |
| Financial fixed assets | 28 | - | €18,032 | +€18,032 | |
| Current assets | 29/58 | €399,542 | €380,100 | -€19,442 | -4.9% |
| Stocks and contracts in progress | 3 | €250,038 | €280,550 | +€30,511 | +12.2% |
| Stocks | 30/36 | €250,038 | €280,550 | +€30,511 | +12.2% |
| Amounts receivable within one year | 40/41 | €37,873 | €23,215 | -€14,659 | -38.7% |
| Trade receivables | 40 | €18,538 | €17,340 | -€1,198 | -6.5% |
| Other amounts receivable | 41 | €19,336 | €5,875 | -€13,461 | -69.6% |
| Cash at bank and in hand | 54/58 | €85,581 | €74,866 | -€10,716 | -12.5% |
| Deferred charges and accrued income | 490/1 | €26,049 | €1,470 | -€24,579 | -94.4% |
| Total equity and liabilities | 10/49 | €1,392,681 | €1,240,504 | -€152,177 | -10.9% |
| Equity | 10/15 | -€197,931 | -€202,843 | -€4,911 | -2.5% |
| Contributions | 10/11 | €75,144 | €75,144 | = | 0.0% |
| Capital | 10 | €75,144 | - | -€75,144 | |
| Issued capital | 100 | €75,144 | - | -€75,144 | |
| Outside capital | 11 | - | €75,144 | +€75,144 | |
| Other | 1109/19 | - | €75,144 | +€75,144 | |
| Reserves | 13 | €3,369 | €3,369 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,369 | €3,369 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,369 | €3,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€276,444 | -€281,356 | -€4,911 | -1.8% |
| Amounts payable | 17/49 | €1,590,612 | €1,443,347 | -€147,266 | -9.3% |
| Amounts payable after more than one year | 17 | €1,034,274 | €887,452 | -€146,822 | -14.2% |
| Financial debts | 170/4 | €936,274 | €887,452 | -€48,822 | -5.2% |
| Other amounts payable | 178/9 | €98,000 | - | -€98,000 | |
| Amounts payable within one year | 42/48 | €532,171 | €528,094 | -€4,077 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €141,944 | €143,822 | +€1,878 | +1.3% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €122,381 | €68,408 | -€53,973 | -44.1% |
| Suppliers | 440/4 | €122,381 | €68,408 | -€53,973 | -44.1% |
| Taxes, remuneration and social security | 45 | €66,386 | €76,772 | +€10,385 | +15.6% |
| Taxes | 450/3 | €2,432 | €6,044 | +€3,612 | +148.5% |
| Remuneration and social security | 454/9 | €63,954 | €70,728 | +€6,774 | +10.6% |
| Other amounts payable | 47/48 | €1,460 | €39,093 | +€37,632 | +2577.2% |
| Accrued charges and deferred income | 492/3 | €24,167 | €27,800 | +€3,633 | +15.0% |
| Remuneration, social security and pensions | 62 | €417,780 | €416,775 | -€1,005 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,355 | €157,412 | +€2,057 | +1.3% |
| Other operating charges | 640/8 | €1,946 | €10,626 | +€8,680 | +445.9% |
| Non-recurring operating charges | 66A | - | €19,745 | +€19,745 | |
| Gross operating margin | 9900 | €579,947 | €663,946 | +€84,000 | +14.5% |
| Operating profit (loss) | 9901 | €4,866 | €59,388 | +€54,522 | +1120.5% |
| Financial income | 75/76B | €21,395 | €9,324 | -€12,071 | -56.4% |
| Recurring financial income | 75 | €21,395 | €9,324 | -€12,071 | -56.4% |
| Financial charges | 65/66B | €88,504 | €72,913 | -€15,592 | -17.6% |
| Recurring financial charges | 65 | €88,504 | €72,913 | -€15,592 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€62,243 | -€4,201 | +€58,042 | +93.3% |
| Income taxes | 67/77 | €732 | €710 | -€22 | -3.0% |
| Profit (loss) for the period | 9904 | -€62,976 | -€4,911 | +€58,064 | +92.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,976 | -€4,911 | +€58,064 | +92.2% |
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 7 October 2026 via checked.be.