ACLO & CO: 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.
ACLO & CO
Largest movements
- Receivables within one year +€84,130
up €84,130 (+59.0%), from €142,602 to €226,732
of which Trade receivables: +€48,775
- Cash +€37,433
up €37,433 (+43.7%), from €85,599 to €123,033
mainly Trade debts (+€178,714) and Depreciation (+€34,228)
- Receivables after one year -€30,949
down €30,949 (-41.8%), from €74,000 to €43,051
- Stocks and contracts +€29,621
new in 2025: €29,621
- Tangible fixed assets -€7,506
down €7,506 (-6.6%), from €114,074 to €106,568
of which Furniture and vehicles: -€18,209
- Trade debts +€178,714
up €178,714 (+107%), from €167,658 to €346,373
- Other debts -€25,102
down €25,102 (-100%), from €25,102 to €0
- Debts after one year -€22,254
down €22,254 (-41.7%), from €53,358 to €31,104
- Tax, wage and social debts -€21,455
down €21,455 (-80.3%), from €26,710 to €5,256
of which Taxes: -€21,293
- Reserves +€11,347
up €11,347 (+9.4%), from €121,279 to €132,626
of which Distributable reserves: +€11,347
- Gross operating margin -€22,888
down €22,888 (-10.5%), from €218,385 to €195,496
- Depreciation +€14,168
up €14,168 (+70.6%), from €20,060 to €34,228
- Write-downs -€10,701
down €10,701 (-100%), from €10,701 to €0
- Taxes -€6,426
down €6,426 (-35.8%), from €17,953 to €11,527
- Staff costs +€3,694
up €3,694 (+3.4%), from €110,230 to €113,924
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 | €433,040 | €546,939 | +€113,899 | +26.3% |
| Fixed assets | 21/28 | €121,047 | €113,541 | -€7,506 | -6.2% |
| Tangible fixed assets | 22/27 | €114,074 | €106,568 | -€7,506 | -6.6% |
| Plant, machinery and equipment | 23 | €53,568 | €64,271 | +€10,703 | +20.0% |
| Furniture and vehicles | 24 | €60,506 | €42,297 | -€18,209 | -30.1% |
| Financial fixed assets | 28 | €6,973 | €6,973 | = | 0.0% |
| Current assets | 29/58 | €311,993 | €433,398 | +€121,406 | +38.9% |
| Amounts receivable after more than one year | 29 | €74,000 | €43,051 | -€30,949 | -41.8% |
| Other amounts receivable | 291 | €74,000 | €43,051 | -€30,949 | -41.8% |
| Stocks and contracts in progress | 3 | - | €29,621 | +€29,621 | |
| Contracts in progress | 37 | - | €29,621 | +€29,621 | |
| Amounts receivable within one year | 40/41 | €142,602 | €226,732 | +€84,130 | +59.0% |
| Trade receivables | 40 | €61,037 | €109,812 | +€48,775 | +79.9% |
| Other amounts receivable | 41 | €81,566 | €116,920 | +€35,355 | +43.3% |
| Cash at bank and in hand | 54/58 | €85,599 | €123,033 | +€37,433 | +43.7% |
| Deferred charges and accrued income | 490/1 | €9,791 | €10,962 | +€1,171 | +12.0% |
| Total equity and liabilities | 10/49 | €433,040 | €546,939 | +€113,899 | +26.3% |
| Equity | 10/15 | €139,879 | €151,226 | +€11,347 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,279 | €132,626 | +€11,347 | +9.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €121,279 | €132,626 | +€11,347 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €293,161 | €395,713 | +€102,552 | +35.0% |
| Amounts payable after more than one year | 17 | €53,358 | €31,104 | -€22,254 | -41.7% |
| Financial debts | 170/4 | €53,358 | €31,104 | -€22,254 | -41.7% |
| Amounts payable within one year | 42/48 | €239,803 | €364,609 | +€124,806 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €17,164 | €12,981 | -€4,183 | -24.4% |
| Financial debts | 43 | €3,168 | €0 | -€3,168 | -100% |
| Credit institutions | 430/8 | €3,168 | €0 | -€3,168 | -100% |
| Trade debts | 44 | €167,658 | €346,373 | +€178,714 | +107% |
| Suppliers | 440/4 | €167,658 | €346,373 | +€178,714 | +107% |
| Taxes, remuneration and social security | 45 | €26,710 | €5,256 | -€21,455 | -80.3% |
| Taxes | 450/3 | €23,844 | €2,550 | -€21,293 | -89.3% |
| Remuneration and social security | 454/9 | €2,867 | €2,705 | -€161 | -5.6% |
| Other amounts payable | 47/48 | €25,102 | €0 | -€25,102 | -100% |
| Non-recurring operating income | 76A | €12,000 | €0 | -€12,000 | -100% |
| Remuneration, social security and pensions | 62 | €110,230 | €113,924 | +€3,694 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,060 | €34,228 | +€14,168 | +70.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,701 | €0 | -€10,701 | -100% |
| Other operating charges | 640/8 | €1,918 | €2,130 | +€212 | +11.0% |
| Gross operating margin | 9900 | €218,385 | €195,496 | -€22,888 | -10.5% |
| Operating profit (loss) | 9901 | €75,476 | €45,214 | -€30,261 | -40.1% |
| Financial income | 75/76B | €5,279 | €4,031 | -€1,248 | -23.6% |
| Recurring financial income | 75 | €5,279 | €4,031 | -€1,248 | -23.6% |
| Financial charges | 65/66B | €11,667 | €12,215 | +€548 | +4.7% |
| Recurring financial charges | 65 | €11,667 | €12,215 | +€548 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €69,088 | €37,031 | -€32,057 | -46.4% |
| Income taxes | 67/77 | €17,953 | €11,527 | -€6,426 | -35.8% |
| Profit (loss) for the period | 9904 | €51,135 | €25,504 | -€25,631 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,135 | €25,504 | -€25,631 | -50.1% |
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 26 October 2026 via checked.be.