ACOGEFIN: 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.
ACOGEFIN
Largest movements
- Cash -€93,728
down €93,728 (-97.9%), from €95,756 to €2,028
mainly Current investments (-€53,479) and Receivables within one year (-€27,552)
- Current investments +€53,479
new in 2025: €53,479
- Receivables within one year +€27,552
up €27,552 (+36.0%), from €76,634 to €104,186
- Tangible fixed assets -€18,354
down €18,354 (-29.2%), from €62,872 to €44,518
of which Furniture and vehicles: -€18,140
- Short-term financial debts -€22,781
down €22,781 (-75.1%), from €30,337 to €7,556
- Debts after one year -€16,159
down €16,159 (-34.0%), from €47,533 to €31,374
- Trade debts +€3,417
up €3,417 (+90.1%), from €3,792 to €7,209
- Profit (loss) carried forward +€2,389
up €2,389 (+23.5%), from €10,183 to €12,572
- Staff costs +€18,639
up €18,639 (+5.4%), from €345,219 to €363,858
- Gross operating margin +€17,481
up €17,481 (+4.7%), from €375,114 to €392,595
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 | €235,871 | €204,778 | -€31,093 | -13.2% |
| Fixed assets | 21/28 | €63,072 | €44,718 | -€18,354 | -29.1% |
| Tangible fixed assets | 22/27 | €62,872 | €44,518 | -€18,354 | -29.2% |
| Plant, machinery and equipment | 23 | €214 | - | -€214 | |
| Furniture and vehicles | 24 | €62,658 | €44,518 | -€18,140 | -29.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €172,799 | €160,060 | -€12,739 | -7.4% |
| Amounts receivable within one year | 40/41 | €76,634 | €104,186 | +€27,552 | +36.0% |
| Trade receivables | 40 | €76,634 | €104,186 | +€27,552 | +36.0% |
| Current investments | 50/53 | - | €53,479 | +€53,479 | |
| Cash at bank and in hand | 54/58 | €95,756 | €2,028 | -€93,728 | -97.9% |
| Deferred charges and accrued income | 490/1 | €410 | €367 | -€42 | -10.3% |
| Total equity and liabilities | 10/49 | €235,871 | €204,778 | -€31,093 | -13.2% |
| Equity | 10/15 | €65,183 | €67,572 | +€2,389 | +3.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Outside capital | 11 | €50,000 | €50,000 | = | 0.0% |
| Other | 1109/19 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,183 | €12,572 | +€2,389 | +23.5% |
| Amounts payable | 17/49 | €170,689 | €137,207 | -€33,482 | -19.6% |
| Amounts payable after more than one year | 17 | €47,533 | €31,374 | -€16,159 | -34.0% |
| Financial debts | 170/4 | €47,533 | €31,374 | -€16,159 | -34.0% |
| Amounts payable within one year | 42/48 | €123,156 | €105,833 | -€17,323 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €15,548 | €16,159 | +€612 | +3.9% |
| Financial debts | 43 | €30,337 | €7,556 | -€22,781 | -75.1% |
| Credit institutions | 430/8 | €30,337 | €7,556 | -€22,781 | -75.1% |
| Trade debts | 44 | €3,792 | €7,209 | +€3,417 | +90.1% |
| Suppliers | 440/4 | €3,792 | €7,209 | +€3,417 | +90.1% |
| Taxes, remuneration and social security | 45 | €73,479 | €74,909 | +€1,430 | +1.9% |
| Taxes | 450/3 | €27,074 | €28,839 | +€1,765 | +6.5% |
| Remuneration and social security | 454/9 | €46,405 | €46,070 | -€335 | -0.7% |
| Remuneration, social security and pensions | 62 | €345,219 | €363,858 | +€18,639 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,905 | €18,354 | -€551 | -2.9% |
| Other operating charges | 640/8 | €1,134 | €875 | -€259 | -22.9% |
| Gross operating margin | 9900 | €375,114 | €392,595 | +€17,481 | +4.7% |
| Operating profit (loss) | 9901 | €9,855 | €9,508 | -€347 | -3.5% |
| Financial income | 75/76B | €0 | €202 | +€202 | +2023500.0% |
| Recurring financial income | 75 | €0 | €202 | +€202 | +2023500.0% |
| Financial charges | 65/66B | €3,089 | €3,822 | +€733 | +23.7% |
| Recurring financial charges | 65 | €3,089 | €3,822 | +€733 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €6,766 | €5,888 | -€878 | -13.0% |
| Income taxes | 67/77 | €2,350 | €3,499 | +€1,149 | +48.9% |
| Profit (loss) for the period | 9904 | €4,416 | €2,389 | -€2,027 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,416 | €2,389 | -€2,027 | -45.9% |
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 7 October 2026 via checked.be.