ACHILLES: 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.
ACHILLES
Largest movements
- Current investments -€99,349
down €99,349 (-4.4%), from €2.3m to €2.2m
- Financial fixed assets -€60,000
no longer reported in 2025 (was €60,000)
- Receivables within one year +€50,810
up €50,810 (+466.6%), from €10,890 to €61,700
of which Other amounts receivable: +€55,423
- Reserves -€202,560
down €202,560 (-10.1%), from €2.0m to €1.8m
- Other debts +€51,748
up €51,748 (+37.1%), from €139,496 to €191,244
- Financial charges +€42,939
up €42,939 (+11481.0%), from €374 to €43,313
of which Financial charges: +€30,199
- Gross operating margin -€15,015
down €15,015, from €109 to -€14,906
- Taxes -€8,151
down €8,151 (-50.8%), from €16,038 to €7,887
- Financial income -€6,855
down €6,855 (-10.9%), from €62,723 to €55,868
- Depreciation -€6,750
no longer reported in 2025 (was €6,750)
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 | €3,217,395 | €3,065,955 | -€151,440 | -4.7% |
| Fixed assets | 21/28 | €69,006 | - | -€69,006 | |
| Tangible fixed assets | 22/27 | €9,006 | - | -€9,006 | |
| Furniture and vehicles | 24 | €9,006 | - | -€9,006 | |
| Financial fixed assets | 28 | €60,000 | - | -€60,000 | |
| Current assets | 29/58 | €3,148,389 | €3,065,955 | -€82,434 | -2.6% |
| Amounts receivable within one year | 40/41 | €10,890 | €61,700 | +€50,810 | +466.6% |
| Trade receivables | 40 | €4,613 | - | -€4,613 | |
| Other amounts receivable | 41 | €6,277 | €61,700 | +€55,423 | +883.0% |
| Current investments | 50/53 | €2,257,065 | €2,157,716 | -€99,349 | -4.4% |
| Cash at bank and in hand | 54/58 | €867,104 | €842,191 | -€24,913 | -2.9% |
| Deferred charges and accrued income | 490/1 | €13,330 | €4,348 | -€8,982 | -67.4% |
| Total equity and liabilities | 10/49 | €3,217,395 | €3,065,955 | -€151,440 | -4.7% |
| Equity | 10/15 | €3,073,668 | €2,871,108 | -€202,560 | -6.6% |
| Contributions | 10/11 | €1,058,750 | €1,058,750 | = | 0.0% |
| Reserves | 13 | €2,014,918 | €1,812,358 | -€202,560 | -10.1% |
| Distributable reserves | 133 | €2,014,918 | €1,812,358 | -€202,560 | -10.1% |
| Amounts payable | 17/49 | €143,727 | €194,847 | +€51,120 | +35.6% |
| Amounts payable within one year | 42/48 | €143,519 | €194,539 | +€51,020 | +35.5% |
| Trade debts | 44 | €235 | €3,265 | +€3,030 | +1289.4% |
| Suppliers | 440/4 | €235 | €3,265 | +€3,030 | +1289.4% |
| Taxes, remuneration and social security | 45 | €3,788 | €30 | -€3,758 | -99.2% |
| Taxes | 450/3 | €3,788 | €30 | -€3,758 | -99.2% |
| Other amounts payable | 47/48 | €139,496 | €191,244 | +€51,748 | +37.1% |
| Accrued charges and deferred income | 492/3 | €208 | €308 | +€100 | +48.1% |
| Non-recurring operating income | 76A | €4,000 | €959 | -€3,041 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,750 | - | -€6,750 | |
| Other operating charges | 640/8 | €1,034 | €1,078 | +€44 | +4.3% |
| Gross operating margin | 9900 | €109 | -€14,906 | -€15,015 | |
| Operating profit (loss) | 9901 | -€7,675 | -€15,984 | -€8,309 | -108.3% |
| Financial income | 75/76B | €62,723 | €55,868 | -€6,855 | -10.9% |
| Recurring financial income | 75 | €62,723 | €55,868 | -€6,855 | -10.9% |
| Financial charges | 65/66B | €374 | €43,313 | +€42,939 | +11481.0% |
| Recurring financial charges | 65 | €374 | €30,573 | +€30,199 | +8074.6% |
| Non-recurring financial charges | 66B | - | €12,740 | +€12,740 | |
| Profit (loss) for the period before taxes | 9903 | €54,674 | -€3,429 | -€58,103 | |
| Income taxes | 67/77 | €16,038 | €7,887 | -€8,151 | -50.8% |
| Profit (loss) for the period | 9904 | €38,636 | -€11,316 | -€49,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,636 | -€11,316 | -€49,952 |
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 1 October 2026 via checked.be.