ACOFI: 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.
ACOFI
Largest movements
- Cash +€30,328
up €30,328 (+54.5%), from €55,655 to €85,983
mainly Net result for the year (+€22,100) and Current investments (+€19,771)
- Current investments -€19,771
down €19,771 (-49.2%), from €40,211 to €20,440
- Receivables within one year +€9,299
up €9,299 (+17.9%), from €52,085 to €61,383
of which Other amounts receivable: +€10,565
- Tangible fixed assets -€7,805
down €7,805 (-25.8%), from €30,306 to €22,502
of which Furniture and vehicles: -€8,048
- Deferred charges and accrued income -€3,353
down €3,353 (-26.4%), from €12,691 to €9,338
- Reserves +€20,300
up €20,300 (+21.3%), from €95,160 to €115,460
- Trade debts -€8,401
down €8,401 (-50.4%), from €16,670 to €8,269
- Debts after one year -€7,779
down €7,779 (-66.3%), from €11,726 to €3,947
- Gross operating margin +€18,907
up €18,907 (+16.0%), from €118,267 to €137,174
- Staff costs +€13,284
up €13,284 (+21.7%), from €61,179 to €74,462
- Write-downs +€10,311
new in 2025: €10,311
- Financial income -€1,621
down €1,621 (-51.9%), from €3,125 to €1,504
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 | €191,863 | €199,646 | +€7,783 | +4.1% |
| Fixed assets | 21/28 | €31,222 | €22,502 | -€8,720 | -27.9% |
| Intangible fixed assets | 21 | €916 | €0 | -€916 | -100.0% |
| Tangible fixed assets | 22/27 | €30,306 | €22,502 | -€7,805 | -25.8% |
| Plant, machinery and equipment | 23 | €109 | €255 | +€146 | +133.4% |
| Furniture and vehicles | 24 | €27,509 | €19,461 | -€8,048 | -29.3% |
| Other tangible fixed assets | 26 | €2,688 | €2,785 | +€97 | +3.6% |
| Current assets | 29/58 | €160,641 | €177,145 | +€16,503 | +10.3% |
| Amounts receivable within one year | 40/41 | €52,085 | €61,383 | +€9,299 | +17.9% |
| Trade receivables | 40 | €51,506 | €50,240 | -€1,266 | -2.5% |
| Other amounts receivable | 41 | €579 | €11,143 | +€10,565 | +1825.3% |
| Current investments | 50/53 | €40,211 | €20,440 | -€19,771 | -49.2% |
| Cash at bank and in hand | 54/58 | €55,655 | €85,983 | +€30,328 | +54.5% |
| Deferred charges and accrued income | 490/1 | €12,691 | €9,338 | -€3,353 | -26.4% |
| Total equity and liabilities | 10/49 | €191,863 | €199,646 | +€7,783 | +4.1% |
| Equity | 10/15 | €113,760 | €134,060 | +€20,300 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95,160 | €115,460 | +€20,300 | +21.3% |
| Distributable reserves | 133 | €95,160 | €115,460 | +€20,300 | +21.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,103 | €65,587 | -€12,517 | -16.0% |
| Amounts payable after more than one year | 17 | €11,726 | €3,947 | -€7,779 | -66.3% |
| Financial debts | 170/4 | €11,726 | €3,947 | -€7,779 | -66.3% |
| Amounts payable within one year | 42/48 | €66,377 | €61,640 | -€4,738 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €13,637 | €15,532 | +€1,895 | +13.9% |
| Trade debts | 44 | €16,670 | €8,269 | -€8,401 | -50.4% |
| Suppliers | 440/4 | €16,670 | €8,269 | -€8,401 | -50.4% |
| Taxes, remuneration and social security | 45 | €34,854 | €36,038 | +€1,184 | +3.4% |
| Taxes | 450/3 | €22,099 | €23,928 | +€1,829 | +8.3% |
| Remuneration and social security | 454/9 | €12,755 | €12,110 | -€645 | -5.1% |
| Other amounts payable | 47/48 | €1,216 | €1,800 | +€584 | +48.0% |
| Remuneration, social security and pensions | 62 | €61,179 | €74,462 | +€13,284 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,813 | €17,099 | +€286 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,311 | +€10,311 | |
| Other operating charges | 640/8 | €1,288 | €1,774 | +€485 | +37.7% |
| Non-recurring operating charges | 66A | €919 | €109 | -€810 | -88.1% |
| Gross operating margin | 9900 | €118,267 | €137,174 | +€18,907 | +16.0% |
| Operating profit (loss) | 9901 | €38,067 | €33,418 | -€4,649 | -12.2% |
| Financial income | 75/76B | €3,125 | €1,504 | -€1,621 | -51.9% |
| Recurring financial income | 75 | €3,125 | €1,504 | -€1,621 | -51.9% |
| Financial charges | 65/66B | €2,308 | €1,875 | -€433 | -18.8% |
| Recurring financial charges | 65 | €2,308 | €1,875 | -€433 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €38,884 | €33,047 | -€5,837 | -15.0% |
| Income taxes | 67/77 | €11,718 | €10,947 | -€771 | -6.6% |
| Profit (loss) for the period | 9904 | €27,166 | €22,100 | -€5,066 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,166 | €22,100 | -€5,066 | -18.6% |
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 12 October 2026 via checked.be.