ACORTIS: 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.
ACORTIS
Largest movements
- Current investments +€440,102
up €440,102 (+63.9%), from €689,137 to €1.1m
- Tangible fixed assets -€280,016
down €280,016 (-48.6%), from €575,833 to €295,817
of which Land and buildings: -€379,920
- Financial fixed assets -€73,500
no longer reported in 2025 (was €73,500)
- Receivables after one year +€45,043
up €45,043 (+9.9%), from €453,180 to €498,223
- Deferred charges and accrued income -€22,293
down €22,293 (-16.8%), from €132,507 to €110,215
- Reserves +€276,035
up €276,035 (+21.8%), from €1.3m to €1.5m
- Tax, wage and social debts -€105,007
down €105,007 (-86.5%), from €121,461 to €16,453
- Debts after one year -€45,714
down €45,714 (-42.9%), from €106,667 to €60,953
- Financial income +€109,167
up €109,167 (+358.8%), from €30,427 to €139,594
of which Non-recurring financial income: +€76,125
- Gross operating margin -€42,524
down €42,524 (-9.6%), from €442,852 to €400,329
- Taxes +€20,511
up €20,511 (+14.5%), from €141,432 to €161,943
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 | €2,010,543 | €2,138,340 | +€127,797 | +6.4% |
| Fixed assets | 21/28 | €649,333 | €295,817 | -€353,516 | -54.4% |
| Tangible fixed assets | 22/27 | €575,833 | €295,817 | -€280,016 | -48.6% |
| Land and buildings | 22 | €564,207 | €184,287 | -€379,920 | -67.3% |
| Plant, machinery and equipment | 23 | €827 | €270 | -€556 | -67.3% |
| Furniture and vehicles | 24 | €2,690 | €19,737 | +€17,046 | +633.6% |
| Other tangible fixed assets | 26 | €8,109 | €91,523 | +€83,414 | +1028.6% |
| Financial fixed assets | 28 | €73,500 | - | -€73,500 | |
| Current assets | 29/58 | €1,361,210 | €1,842,523 | +€481,313 | +35.4% |
| Amounts receivable after more than one year | 29 | €453,180 | €498,223 | +€45,043 | +9.9% |
| Trade receivables | 290 | €453,180 | €498,223 | +€45,043 | +9.9% |
| Amounts receivable within one year | 40/41 | - | €11,945 | +€11,945 | |
| Trade receivables | 40 | - | €11,945 | +€11,945 | |
| Current investments | 50/53 | €689,137 | €1,129,239 | +€440,102 | +63.9% |
| Cash at bank and in hand | 54/58 | €86,386 | €92,902 | +€6,516 | +7.5% |
| Deferred charges and accrued income | 490/1 | €132,507 | €110,215 | -€22,293 | -16.8% |
| Total equity and liabilities | 10/49 | €2,010,543 | €2,138,340 | +€127,797 | +6.4% |
| Equity | 10/15 | €1,722,127 | €1,998,162 | +€276,035 | +16.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,264,507 | €1,540,541 | +€276,035 | +21.8% |
| Distributable reserves | 133 | €1,264,507 | €1,540,541 | +€276,035 | +21.8% |
| Profit (loss) carried forward | 14 | €451,424 | €451,424 | = | 0.0% |
| Amounts payable | 17/49 | €288,416 | €140,178 | -€148,238 | -51.4% |
| Amounts payable after more than one year | 17 | €106,667 | €60,953 | -€45,714 | -42.9% |
| Financial debts | 170/4 | €106,667 | €60,953 | -€45,714 | -42.9% |
| Amounts payable within one year | 42/48 | €181,749 | €79,225 | -€102,524 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €55,741 | €45,714 | -€10,027 | -18.0% |
| Trade debts | 44 | €4,547 | €14,036 | +€9,489 | +208.7% |
| Suppliers | 440/4 | €4,547 | €14,036 | +€9,489 | +208.7% |
| Taxes, remuneration and social security | 45 | €121,461 | €16,453 | -€105,007 | -86.5% |
| Taxes | 450/3 | €121,461 | €16,453 | -€105,007 | -86.5% |
| Other amounts payable | 47/48 | - | €3,022 | +€3,022 | |
| Non-recurring operating income | 76A | - | €32,029 | +€32,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,925 | €19,666 | -€3,259 | -14.2% |
| Other operating charges | 640/8 | €4,494 | €4,855 | +€361 | +8.0% |
| Gross operating margin | 9900 | €442,852 | €400,329 | -€42,524 | -9.6% |
| Operating profit (loss) | 9901 | €415,433 | €375,808 | -€39,626 | -9.5% |
| Financial income | 75/76B | €30,427 | €139,594 | +€109,167 | +358.8% |
| Recurring financial income | 75 | €30,427 | €63,469 | +€33,042 | +108.6% |
| Non-recurring financial income | 76B | - | €76,125 | +€76,125 | |
| Financial charges | 65/66B | €6,826 | €7,424 | +€598 | +8.8% |
| Recurring financial charges | 65 | €6,826 | €7,424 | +€598 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €439,034 | €507,977 | +€68,943 | +15.7% |
| Income taxes | 67/77 | €141,432 | €161,943 | +€20,511 | +14.5% |
| Profit (loss) for the period | 9904 | €297,602 | €346,035 | +€48,433 | +16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €297,602 | €346,035 | +€48,433 | +16.3% |
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 30 September 2026 via checked.be.