ACO PASSAVANT: 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.
What changed
ACO PASSAVANT
NACE 46.839, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.4m-€324,507
Equity
€3.1m
2024 · €3.0m+€120,734
Cash
€255,301
2024 · €291,728-€36,427
Balance sheet total
€7.6m
2024 · €8.0m-€433,216
Largest movements
Assets
- Tangible fixed assets -€191,449
down €191,449 (-5.7%), from €3.3m to €3.1m
of which Land and buildings: -€210,040
- Stocks and contracts -€130,833
down €130,833 (-7.0%), from €1.9m to €1.7m
Equity and liabilities
- Other debts -€400,000
down €400,000 (-28.6%), from €1.4m to €1.0m
- Debts after one year -€156,000
down €156,000 (-12.5%), from €1.2m to €1.1m
- Profit (loss) carried forward +€113,369
up €113,369 (+5.3%), from €2.1m to €2.3m
Income statement
- Turnover -€791,047
down €791,047 (-3.8%), from €20.6m to €19.8m
- Goods and materials -€402,533
down €402,533 (-3.5%), from €11.5m to €11.1m
of which Purchases: -€1.1m
- Other operating charges -€294,203
down €294,203 (-70.9%), from €415,225 to €121,022
- Staff costs +€214,269
up €214,269 (+5.7%), from €3.7m to €4.0m
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.
Result 2024
€1.4m
Turnover
-€791,047
Other operating income
-€10,866
Goods and materials
+€402,533
Services and other goods
-€74,186
Staff costs
-€214,269
Depreciation
-€2,661
Write-downs
+€39,925
Other operating charges
+€294,203
Other operating items
-€107,000
Financial income
-€39,542
Financial charges
+€50,716
Taxes
+€127,687
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.2m
Investment
-€96,737
Financing
-€1.2m
Cash 2024
€291,728
From operations (derived)
+€1.2m
Net result for the year
+€1.1m
Depreciation
+€288,186
Stocks and contracts
+€130,833
Receivables within one year
+€72,302
Deferred charges and accrued income
+€2,205
Provisions
-€9,636
Trade debts
-€4,311
Tax, wage and social debts
+€36,571
Other debts
-€400,000
Accrued charges and deferred income
-€20,573
Investment (derived)
-€96,737
Investment in fixed assets (net)
-€96,737
Current investments
+€0
Financing
-€1.2m
Debts after one year
-€156,000
Contributions, distributions and other
-€1.0m
Cash 2025
€255,301
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,048,652 | €7,615,436 | -€433,216 | -5.4% |
| Fixed assets | 21/28 | €3,331,185 | €3,139,736 | -€191,449 | -5.7% |
| Tangible fixed assets | 22/27 | €3,329,795 | €3,138,347 | -€191,449 | -5.7% |
| Land and buildings | 22 | €3,186,736 | €2,976,696 | -€210,040 | -6.6% |
| Plant, machinery and equipment | 23 | €22,679 | €29,135 | +€6,457 | +28.5% |
| Furniture and vehicles | 24 | €55,284 | €55,000 | -€284 | -0.5% |
| Other tangible fixed assets | 26 | €65,096 | €77,515 | +€12,419 | +19.1% |
| Financial fixed assets | 28 | €1,389 | €1,389 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,389 | €1,389 | = | 0.0% |
| Shares | 284 | €150 | €150 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,239 | €1,239 | = | 0.0% |
| Current assets | 29/58 | €4,717,467 | €4,475,700 | -€241,767 | -5.1% |
| Stocks and contracts in progress | 3 | €1,873,268 | €1,742,435 | -€130,833 | -7.0% |
| Stocks | 30/36 | €1,873,268 | €1,742,435 | -€130,833 | -7.0% |
| Goods purchased for resale | 34 | €1,873,268 | €1,742,435 | -€130,833 | -7.0% |
| Amounts receivable within one year | 40/41 | €2,534,577 | €2,462,276 | -€72,302 | -2.9% |
| Trade receivables | 40 | €1,789,459 | €2,336,939 | +€547,480 | +30.6% |
| Other amounts receivable | 41 | €745,118 | €125,336 | -€619,782 | -83.2% |
| Current investments | 50/53 | €505 | €505 | -€0 | 0.0% |
| Other investments | 51/53 | €505 | €505 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €291,728 | €255,301 | -€36,427 | -12.5% |
| Deferred charges and accrued income | 490/1 | €17,390 | €15,184 | -€2,205 | -12.7% |
| Total equity and liabilities | 10/49 | €8,048,652 | €7,615,436 | -€433,216 | -5.4% |
| Equity | 10/15 | €3,006,721 | €3,127,455 | +€120,734 | +4.0% |
| Contributions | 10/11 | €656,000 | €656,000 | = | 0.0% |
| Capital | 10 | €656,000 | €656,000 | = | 0.0% |
| Issued capital | 100 | €656,000 | €656,000 | = | 0.0% |
| Reserves | 13 | €207,992 | €215,357 | +€7,364 | +3.5% |
| Non-distributable reserves | 130/1 | €65,600 | €65,600 | = | 0.0% |
| Legal reserve | 130 | €65,600 | €65,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,758 | €75,123 | +€7,364 | +10.9% |
| Distributable reserves | 133 | €74,634 | €74,634 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,142,729 | €2,256,098 | +€113,369 | +5.3% |
| Provisions and deferred taxes | 16 | €36,485 | €26,849 | -€9,636 | -26.4% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €36,485 | €26,849 | -€9,636 | -26.4% |
| Amounts payable | 17/49 | €5,005,446 | €4,461,132 | -€544,313 | -10.9% |
| Amounts payable after more than one year | 17 | €1,248,000 | €1,092,000 | -€156,000 | -12.5% |
| Financial debts | 170/4 | €1,248,000 | €1,092,000 | -€156,000 | -12.5% |
| Other loans | 174 | €1,248,000 | €1,092,000 | -€156,000 | -12.5% |
| Amounts payable within one year | 42/48 | €3,700,073 | €3,332,332 | -€367,740 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €156,000 | €156,000 | = | 0.0% |
| Trade debts | 44 | €1,481,987 | €1,477,676 | -€4,311 | -0.3% |
| Suppliers | 440/4 | €1,481,987 | €1,477,676 | -€4,311 | -0.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €662,086 | €698,657 | +€36,571 | +5.5% |
| Taxes | 450/3 | €0 | €16 | +€16 | |
| Remuneration and social security | 454/9 | €662,086 | €698,641 | +€36,555 | +5.5% |
| Other amounts payable | 47/48 | €1,400,000 | €1,000,000 | -€400,000 | -28.6% |
| Accrued charges and deferred income | 492/3 | €57,373 | €36,800 | -€20,573 | -35.9% |
| Operating income | 70/76A | €20,945,065 | €20,036,152 | -€908,913 | -4.3% |
| Turnover | 70 | €20,564,452 | €19,773,405 | -€791,047 | -3.8% |
| Other operating income | 74 | €273,612 | €262,747 | -€10,866 | -4.0% |
| Non-recurring operating income | 76A | €107,000 | €0 | -€107,000 | -100% |
| Operating charges | 60/66A | €18,732,515 | €18,286,970 | -€445,545 | -2.4% |
| Goods for resale, raw materials and consumables | 60 | €11,474,915 | €11,072,382 | -€402,533 | -3.5% |
| Purchases | 600/8 | €11,937,807 | €10,881,549 | -€1.1m | -8.8% |
| Change in stocks: decrease (increase) | 609 | -€462,892 | €190,833 | +€653,725 | |
| Services and other goods | 61 | €2,815,773 | €2,889,959 | +€74,186 | +2.6% |
| Remuneration, social security and pensions | 62 | €3,741,706 | €3,955,975 | +€214,269 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285,525 | €288,186 | +€2,661 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€630 | -€40,554 | -€39,925 | -6,342% |
| Other operating charges | 640/8 | €415,225 | €121,022 | -€294,203 | -70.9% |
| Operating profit (loss) | 9901 | €2,212,550 | €1,749,182 | -€463,368 | -20.9% |
| Financial income | 75/76B | €65,266 | €25,724 | -€39,542 | -60.6% |
| Recurring financial income | 75 | €65,266 | €25,724 | -€39,542 | -60.6% |
| Income from current assets | 751 | €54,398 | €20,021 | -€34,376 | -63.2% |
| Other financial income | 752/9 | €10,868 | €5,703 | -€5,166 | -47.5% |
| Financial charges | 65/66B | €301,065 | €250,349 | -€50,716 | -16.8% |
| Recurring financial charges | 65 | €301,065 | €250,349 | -€50,716 | -16.8% |
| Debt charges | 650 | €81,333 | €53,016 | -€28,317 | -34.8% |
| Other financial charges | 652/9 | €219,732 | €197,333 | -€22,399 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,976,750 | €1,524,557 | -€452,194 | -22.9% |
| Transfer from deferred taxes | 780 | €9,636 | €9,636 | = | 0.0% |
| Income taxes | 67/77 | €541,146 | €413,459 | -€127,687 | -23.6% |
| Taxes | 670/3 | €541,146 | €421,000 | -€120,146 | -22.2% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €7,541 | +€7,541 | |
| Profit (loss) for the period | 9904 | €1,445,241 | €1,120,734 | -€324,507 | -22.5% |
| Transfer from tax-exempt reserves | 789 | €17,896 | €17,896 | -€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €25,260 | +€25,260 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,463,137 | €1,113,369 | -€349,767 | -23.9% |
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 18 October 2026 via checked.be.