ACKERSTRAETE: 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.
ACKERSTRAETE
Largest movements
- Tangible fixed assets +€880,977
up €880,977 (+121.1%), from €727,248 to €1.6m
of which Assets under construction and advance payments: +€654,085
- Current investments +€105,925
new in 2025: €105,925
- Other debts +€1.0m
up €1.0m (+711.2%), from €145,011 to €1.2m
- Reserves -€34,222
down €34,222 (-14.9%), from €228,961 to €194,739
of which Distributable reserves: -€29,588
- Depreciation +€16,819
up €16,819 (+49.0%), from €34,299 to €51,118
- Other operating charges +€13,981
up €13,981 (+213.4%), from €6,551 to €20,532
- Financial income +€5,658
up €5,658 (+2145.5%), from €264 to €5,922
- Gross operating margin +€1,133
up €1,133 (+3.2%), from €35,065 to €36,198
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 | €754,128 | €1,755,707 | +€1.0m | +132.8% |
| Fixed assets | 21/28 | €730,806 | €1,611,783 | +€880,977 | +120.5% |
| Tangible fixed assets | 22/27 | €727,248 | €1,608,225 | +€880,977 | +121.1% |
| Land and buildings | 22 | €563,161 | €667,956 | +€104,796 | +18.6% |
| Plant, machinery and equipment | 23 | €164,087 | €286,183 | +€122,096 | +74.4% |
| Assets under construction and advance payments | 27 | - | €654,085 | +€654,085 | |
| Financial fixed assets | 28 | €3,558 | €3,558 | = | 0.0% |
| Current assets | 29/58 | €23,322 | €143,924 | +€120,602 | +517.1% |
| Amounts receivable within one year | 40/41 | €4,785 | €4,808 | +€23 | +0.5% |
| Other amounts receivable | 41 | €4,785 | €4,808 | +€23 | +0.5% |
| Current investments | 50/53 | - | €105,925 | +€105,925 | |
| Cash at bank and in hand | 54/58 | €17,864 | €33,006 | +€15,141 | +84.8% |
| Deferred charges and accrued income | 490/1 | €673 | €186 | -€487 | -72.3% |
| Total equity and liabilities | 10/49 | €754,128 | €1,755,707 | +€1.0m | +132.8% |
| Equity | 10/15 | €544,961 | €510,739 | -€34,222 | -6.3% |
| Contributions | 10/11 | €316,000 | €316,000 | = | 0.0% |
| Capital | 10 | €316,000 | €316,000 | = | 0.0% |
| Issued capital | 100 | €316,000 | €316,000 | = | 0.0% |
| Reserves | 13 | €228,961 | €194,739 | -€34,222 | -14.9% |
| Non-distributable reserves | 130/1 | €18,663 | €18,663 | = | 0.0% |
| Legal reserve | 130 | €18,663 | €18,663 | = | 0.0% |
| Tax-exempt reserves | 132 | €137,215 | €132,581 | -€4,634 | -3.4% |
| Distributable reserves | 133 | €73,084 | €43,496 | -€29,588 | -40.5% |
| Provisions and deferred taxes | 16 | €45,738 | €44,194 | -€1,545 | -3.4% |
| Deferred taxes | 168 | €45,738 | €44,194 | -€1,545 | -3.4% |
| Amounts payable | 17/49 | €163,428 | €1,200,774 | +€1.0m | +634.7% |
| Amounts payable within one year | 42/48 | €156,204 | €1,199,834 | +€1.0m | +668.1% |
| Trade debts | 44 | €11,192 | €23,539 | +€12,347 | +110.3% |
| Suppliers | 440/4 | €11,192 | €23,539 | +€12,347 | +110.3% |
| Other amounts payable | 47/48 | €145,011 | €1,176,294 | +€1.0m | +711.2% |
| Accrued charges and deferred income | 492/3 | €7,225 | €941 | -€6,284 | -87.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,299 | €51,118 | +€16,819 | +49.0% |
| Other operating charges | 640/8 | €6,551 | €20,532 | +€13,981 | +213.4% |
| Gross operating margin | 9900 | €35,065 | €36,198 | +€1,133 | +3.2% |
| Operating profit (loss) | 9901 | -€5,785 | -€35,451 | -€29,667 | -512.9% |
| Financial income | 75/76B | €264 | €5,922 | +€5,658 | +2145.5% |
| Recurring financial income | 75 | €264 | €5,922 | +€5,658 | +2145.5% |
| Financial charges | 65/66B | €6,528 | €6,238 | -€290 | -4.4% |
| Recurring financial charges | 65 | €6,528 | €6,238 | -€290 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,048 | -€35,767 | -€23,719 | -196.9% |
| Transfer from deferred taxes | 780 | €1,545 | €1,545 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€10,504 | -€34,222 | -€23,719 | -225.8% |
| Transfer from tax-exempt reserves | 789 | €4,634 | €4,634 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,869 | -€29,588 | -€23,719 | -404.1% |
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.