ACKERMAN - DE PAUW: 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.
ACKERMAN - DE PAUW
Largest movements
- Tangible fixed assets -€51,377
down €51,377 (-9.2%), from €559,296 to €507,919
of which Land and buildings: -€49,865
- Cash +€25,534
up €25,534 (+32.8%), from €77,765 to €103,299
mainly Depreciation (+€54,387) and Net result for the year (+€53,109)
- Receivables within one year +€21,417
up €21,417 (+25.4%), from €84,169 to €105,586
of which Trade receivables: +€23,450
- Reserves +€53,109
up €53,109 (+122%), from €43,690 to €96,799
of which Distributable reserves: +€53,109
- Debts after one year -€49,633
down €49,633 (-8.5%), from €586,836 to €537,203
of which Financial debts: -€49,633
- Current portion of long-term debt -€19,939
down €19,939 (-28.7%), from €69,573 to €49,633
- Accrued charges and deferred income +€13,759
up €13,759 (+183%), from €7,499 to €21,258
- Gross operating margin +€23,806
up €23,806 (+15.0%), from €158,951 to €182,758
- Financial charges +€11,649
up €11,649 (+30.8%), from €37,762 to €49,411
- Taxes +€10,742
up €10,742 (+158%), from €6,797 to €17,539
- Write-downs -€3,003
down €3,003 (-62.6%), from €4,796 to €1,794
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 | €870,982 | €872,575 | +€1,593 | +0.2% |
| Fixed assets | 21/28 | €559,321 | €507,943 | -€51,377 | -9.2% |
| Tangible fixed assets | 22/27 | €559,296 | €507,919 | -€51,377 | -9.2% |
| Land and buildings | 22 | €545,699 | €495,833 | -€49,865 | -9.1% |
| Plant, machinery and equipment | 23 | €13,597 | €12,085 | -€1,512 | -11.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €311,661 | €364,631 | +€52,970 | +17.0% |
| Stocks and contracts in progress | 3 | €139,792 | €147,533 | +€7,742 | +5.5% |
| Stocks | 30/36 | €139,792 | €147,533 | +€7,742 | +5.5% |
| Amounts receivable within one year | 40/41 | €84,169 | €105,586 | +€21,417 | +25.4% |
| Trade receivables | 40 | €80,112 | €103,562 | +€23,450 | +29.3% |
| Other amounts receivable | 41 | €4,057 | €2,025 | -€2,032 | -50.1% |
| Cash at bank and in hand | 54/58 | €77,765 | €103,299 | +€25,534 | +32.8% |
| Deferred charges and accrued income | 490/1 | €9,936 | €8,213 | -€1,723 | -17.3% |
| Total equity and liabilities | 10/49 | €870,982 | €872,575 | +€1,593 | +0.2% |
| Equity | 10/15 | €80,874 | €133,983 | +€53,109 | +65.7% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €43,690 | €96,799 | +€53,109 | +122% |
| Tax-exempt reserves | 132 | €22,500 | €22,500 | = | 0.0% |
| Distributable reserves | 133 | €21,190 | €74,299 | +€53,109 | +251% |
| Amounts payable | 17/49 | €790,108 | €738,592 | -€51,516 | -6.5% |
| Amounts payable after more than one year | 17 | €586,836 | €537,203 | -€49,633 | -8.5% |
| Financial debts | 170/4 | €386,836 | €337,203 | -€49,633 | -12.8% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €195,773 | €180,131 | -€15,642 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €69,573 | €49,633 | -€19,939 | -28.7% |
| Trade debts | 44 | €75,704 | €80,004 | +€4,300 | +5.7% |
| Suppliers | 440/4 | €75,704 | €80,004 | +€4,300 | +5.7% |
| Taxes, remuneration and social security | 45 | €8,536 | €8,079 | -€457 | -5.4% |
| Taxes | 450/3 | €4,936 | €6,279 | +€1,343 | +27.2% |
| Remuneration and social security | 454/9 | €3,600 | €1,800 | -€1,800 | -50.0% |
| Other amounts payable | 47/48 | €41,960 | €42,415 | +€454 | +1.1% |
| Accrued charges and deferred income | 492/3 | €7,499 | €21,258 | +€13,759 | +183% |
| Remuneration, social security and pensions | 62 | - | €520 | +€520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,121 | €54,387 | -€1,734 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,796 | €1,794 | -€3,003 | -62.6% |
| Other operating charges | 640/8 | €7,273 | €7,557 | +€284 | +3.9% |
| Gross operating margin | 9900 | €158,951 | €182,758 | +€23,806 | +15.0% |
| Operating profit (loss) | 9901 | €90,761 | €118,500 | +€27,739 | +30.6% |
| Financial income | 75/76B | €1,836 | €1,559 | -€277 | -15.1% |
| Recurring financial income | 75 | €1,836 | €1,559 | -€277 | -15.1% |
| Financial charges | 65/66B | €37,762 | €49,411 | +€11,649 | +30.8% |
| Recurring financial charges | 65 | €37,762 | €49,411 | +€11,649 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €54,836 | €70,648 | +€15,813 | +28.8% |
| Income taxes | 67/77 | €6,797 | €17,539 | +€10,742 | +158% |
| Profit (loss) for the period | 9904 | €48,039 | €53,109 | +€5,071 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,039 | €53,109 | +€5,071 | +10.6% |
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 13 October 2026 via checked.be.