ACOLED: 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.
ACOLED
Largest movements
- Receivables within one year +€43,885
up €43,885 (+258.2%), from €16,999 to €60,884
of which Other amounts receivable: +€42,553
- Intangible fixed assets -€26,400
down €26,400 (-22.0%), from €120,170 to €93,770
- Cash +€12,099
up €12,099 (+39.6%), from €30,566 to €42,664
mainly Debts after one year (+€83,159) and Current portion of long-term debt (+€31,916)
- Deferred charges and accrued income -€3,284
no longer reported in 2025 (was €3,284)
- Trade debts -€85,948
down €85,948 (-98.8%), from €86,958 to €1,010
- Debts after one year +€83,159
new in 2025: €83,159
- Current portion of long-term debt +€31,916
new in 2025: €31,916
- Accrued charges and deferred income +€5,151
new in 2025: €5,151
- Tax, wage and social debts -€4,946
down €4,946 (-23.6%), from €20,951 to €16,005
of which Remuneration and social security: -€4,969
- Gross operating margin -€23,297
down €23,297 (-41.6%), from €55,996 to €32,699
- Depreciation +€13,625
up €13,625 (+105.8%), from €12,880 to €26,505
- Taxes -€10,697
down €10,697 (-95.5%), from €11,204 to €507
- Financial charges +€5,072
up €5,072 (+198.8%), from €2,552 to €7,624
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 | €171,020 | €198,330 | +€27,310 | +16.0% |
| Fixed assets | 21/28 | €120,170 | €94,781 | -€25,389 | -21.1% |
| Intangible fixed assets | 21 | €120,170 | €93,770 | -€26,400 | -22.0% |
| Tangible fixed assets | 22/27 | - | €1,011 | +€1,011 | |
| Plant, machinery and equipment | 23 | - | €1,011 | +€1,011 | |
| Current assets | 29/58 | €50,849 | €103,549 | +€52,699 | +103.6% |
| Amounts receivable within one year | 40/41 | €16,999 | €60,884 | +€43,885 | +258.2% |
| Trade receivables | 40 | €16,999 | €18,331 | +€1,332 | +7.8% |
| Other amounts receivable | 41 | - | €42,553 | +€42,553 | |
| Cash at bank and in hand | 54/58 | €30,566 | €42,664 | +€12,099 | +39.6% |
| Deferred charges and accrued income | 490/1 | €3,284 | - | -€3,284 | |
| Total equity and liabilities | 10/49 | €171,020 | €198,330 | +€27,310 | +16.0% |
| Equity | 10/15 | €54,078 | €52,040 | -€2,038 | -3.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78 | -€1,960 | -€2,038 | |
| Amounts payable | 17/49 | €116,942 | €146,290 | +€29,349 | +25.1% |
| Amounts payable after more than one year | 17 | - | €83,159 | +€83,159 | |
| Financial debts | 170/4 | - | €83,159 | +€83,159 | |
| Amounts payable within one year | 42/48 | €116,942 | €57,981 | -€58,961 | -50.4% |
| Current portion of amounts payable after more than one year | 42 | - | €31,916 | +€31,916 | |
| Financial debts | 43 | €9,033 | €9,050 | +€17 | +0.2% |
| Credit institutions | 430/8 | €9,033 | €9,050 | +€17 | +0.2% |
| Trade debts | 44 | €86,958 | €1,010 | -€85,948 | -98.8% |
| Suppliers | 440/4 | €86,958 | €1,010 | -€85,948 | -98.8% |
| Taxes, remuneration and social security | 45 | €20,951 | €16,005 | -€4,946 | -23.6% |
| Taxes | 450/3 | €11,982 | €12,005 | +€23 | +0.2% |
| Remuneration and social security | 454/9 | €8,969 | €4,000 | -€4,969 | -55.4% |
| Accrued charges and deferred income | 492/3 | - | €5,151 | +€5,151 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,880 | €26,505 | +€13,625 | +105.8% |
| Other operating charges | 640/8 | €281 | €101 | -€181 | -64.2% |
| Gross operating margin | 9900 | €55,996 | €32,699 | -€23,297 | -41.6% |
| Operating profit (loss) | 9901 | €42,834 | €6,093 | -€36,741 | -85.8% |
| Financial charges | 65/66B | €2,552 | €7,624 | +€5,072 | +198.8% |
| Recurring financial charges | 65 | €2,552 | €7,624 | +€5,072 | +198.8% |
| Profit (loss) for the period before taxes | 9903 | €40,282 | -€1,531 | -€41,813 | |
| Income taxes | 67/77 | €11,204 | €507 | -€10,697 | -95.5% |
| Profit (loss) for the period | 9904 | €29,078 | -€2,038 | -€31,116 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,078 | -€2,038 | -€31,116 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.