ACHTEN PAUL: 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.
ACHTEN PAUL
Largest movements
- Cash +€21,383
up €21,383 (+42.3%), from €50,496 to €71,879
mainly Net result for the year (+€24,918) and Trade debts (+€15,461)
- Receivables within one year +€14,220
up €14,220 (+14.6%), from €97,121 to €111,341
of which Trade receivables: +€7,685
- Tangible fixed assets -€7,299
down €7,299 (-30.5%), from €23,933 to €16,634
of which Plant, machinery and equipment: -€3,768
- Reserves +€22,400
up €22,400 (+58.1%), from €38,546 to €60,946
- Trade debts +€15,461
up €15,461 (+59.6%), from €25,957 to €41,417
- Tax, wage and social debts -€7,321
down €7,321 (-43.8%), from €16,728 to €9,406
- Gross operating margin -€14,482
down €14,482 (-21.5%), from €67,391 to €52,909
- Financial charges -€1,910
down €1,910 (-95.9%), from €1,992 to €82
- Taxes -€1,852
down €1,852 (-10.8%), from €17,179 to €15,327
- Other operating charges +€748
up €748 (+21.3%), from €3,514 to €4,261
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 | €212,227 | €242,047 | +€29,821 | +14.1% |
| Fixed assets | 21/28 | €23,933 | €16,634 | -€7,299 | -30.5% |
| Tangible fixed assets | 22/27 | €23,933 | €16,634 | -€7,299 | -30.5% |
| Plant, machinery and equipment | 23 | €4,736 | €968 | -€3,768 | -79.6% |
| Furniture and vehicles | 24 | €5,201 | €4,126 | -€1,075 | -20.7% |
| Other tangible fixed assets | 26 | €13,996 | €11,540 | -€2,455 | -17.5% |
| Current assets | 29/58 | €188,294 | €225,413 | +€37,119 | +19.7% |
| Stocks and contracts in progress | 3 | €35,758 | €36,744 | +€986 | +2.8% |
| Stocks | 30/36 | €35,758 | €36,744 | +€986 | +2.8% |
| Amounts receivable within one year | 40/41 | €97,121 | €111,341 | +€14,220 | +14.6% |
| Trade receivables | 40 | €87,782 | €95,467 | +€7,685 | +8.8% |
| Other amounts receivable | 41 | €9,339 | €15,874 | +€6,535 | +70.0% |
| Cash at bank and in hand | 54/58 | €50,496 | €71,879 | +€21,383 | +42.3% |
| Deferred charges and accrued income | 490/1 | €4,920 | €5,450 | +€530 | +10.8% |
| Total equity and liabilities | 10/49 | €212,227 | €242,047 | +€29,821 | +14.1% |
| Equity | 10/15 | €167,053 | €189,481 | +€22,428 | +13.4% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €38,546 | €60,946 | +€22,400 | +58.1% |
| Distributable reserves | 133 | €38,546 | €60,946 | +€22,400 | +58.1% |
| Profit (loss) carried forward | 14 | €116,112 | €116,140 | +€28 | 0.0% |
| Amounts payable | 17/49 | €45,174 | €52,567 | +€7,392 | +16.4% |
| Amounts payable within one year | 42/48 | €45,174 | €52,567 | +€7,392 | +16.4% |
| Trade debts | 44 | €25,957 | €41,417 | +€15,461 | +59.6% |
| Suppliers | 440/4 | €25,957 | €41,417 | +€15,461 | +59.6% |
| Taxes, remuneration and social security | 45 | €16,728 | €9,406 | -€7,321 | -43.8% |
| Taxes | 450/3 | €16,728 | €9,406 | -€7,321 | -43.8% |
| Other amounts payable | 47/48 | €2,490 | €1,743 | -€747 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,635 | €9,185 | +€550 | +6.4% |
| Other operating charges | 640/8 | €3,514 | €4,261 | +€748 | +21.3% |
| Gross operating margin | 9900 | €67,391 | €52,909 | -€14,482 | -21.5% |
| Operating profit (loss) | 9901 | €55,242 | €39,462 | -€15,780 | -28.6% |
| Financial income | 75/76B | €569 | €865 | +€297 | +52.2% |
| Recurring financial income | 75 | €569 | €865 | +€297 | +52.2% |
| Financial charges | 65/66B | €1,992 | €82 | -€1,910 | -95.9% |
| Recurring financial charges | 65 | €1,992 | €82 | -€1,910 | -95.9% |
| Profit (loss) for the period before taxes | 9903 | €53,818 | €40,245 | -€13,573 | -25.2% |
| Income taxes | 67/77 | €17,179 | €15,327 | -€1,852 | -10.8% |
| Profit (loss) for the period | 9904 | €36,640 | €24,918 | -€11,721 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,640 | €24,918 | -€11,721 | -32.0% |
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 30 October 2026 via checked.be.