ACOVEX: 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.
ACOVEX
Largest movements
- Cash -€11,847
down €11,847 (-41.1%), from €28,844 to €16,997
mainly Trade debts (-€15,805) and Net result for the year (-€11,929)
- Receivables within one year -€7,110
down €7,110 (-13.5%), from €52,512 to €45,402
of which Other amounts receivable: -€5,117
- Tangible fixed assets -€7,096
down €7,096 (-42.2%), from €16,831 to €9,734
of which Furniture and vehicles: -€4,954
- Current investments +€6,365
up €6,365 (+15.1%), from €42,040 to €48,405
- Deferred charges and accrued income +€5,911
up €5,911 (+53.8%), from €10,979 to €16,890
- Trade debts -€15,805
down €15,805 (-57.5%), from €27,504 to €11,700
- Profit (loss) carried forward -€11,929
down €11,929 (-31.9%), from -€37,451 to -€49,379
- Other debts +€7,778
up €7,778 (+11.0%), from €70,416 to €78,194
- Tax, wage and social debts +€5,188
up €5,188 (+133%), from €3,906 to €9,094
- Accrued charges and deferred income +€2,274
up €2,274 (+206%), from €1,103 to €3,377
- Depreciation -€10,516
down €10,516 (-49.9%), from €21,075 to €10,559
- Gross operating margin -€5,714
down €5,714 (-47.0%), from €12,157 to €6,443
- Financial charges +€1,675
up €1,675 (+79.1%), from €2,117 to €3,791
- Write-downs +€1,050
new in 2025: €1,050
- Other operating charges -€476
down €476 (-14.1%), from €3,364 to €2,889
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,204 | €137,428 | -€13,776 | -9.1% |
| Fixed assets | 21/28 | €16,831 | €9,734 | -€7,096 | -42.2% |
| Tangible fixed assets | 22/27 | €16,831 | €9,734 | -€7,096 | -42.2% |
| Land and buildings | 22 | €2,925 | €1,665 | -€1,260 | -43.1% |
| Plant, machinery and equipment | 23 | €470 | €0 | -€470 | -100% |
| Furniture and vehicles | 24 | €13,002 | €8,048 | -€4,954 | -38.1% |
| Other tangible fixed assets | 26 | €434 | €21 | -€413 | -95.1% |
| Current assets | 29/58 | €134,374 | €127,694 | -€6,680 | -5.0% |
| Amounts receivable within one year | 40/41 | €52,512 | €45,402 | -€7,110 | -13.5% |
| Trade receivables | 40 | €45,416 | €43,423 | -€1,993 | -4.4% |
| Other amounts receivable | 41 | €7,096 | €1,979 | -€5,117 | -72.1% |
| Current investments | 50/53 | €42,040 | €48,405 | +€6,365 | +15.1% |
| Cash at bank and in hand | 54/58 | €28,844 | €16,997 | -€11,847 | -41.1% |
| Deferred charges and accrued income | 490/1 | €10,979 | €16,890 | +€5,911 | +53.8% |
| Total equity and liabilities | 10/49 | €151,204 | €137,428 | -€13,776 | -9.1% |
| Equity | 10/15 | €46,992 | €35,064 | -€11,929 | -25.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €64,443 | €64,443 | = | 0.0% |
| Distributable reserves | 133 | €64,443 | €64,443 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,451 | -€49,379 | -€11,929 | -31.9% |
| Amounts payable | 17/49 | €104,212 | €102,364 | -€1,848 | -1.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €103,109 | €98,987 | -€4,122 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €1,283 | €0 | -€1,283 | -100% |
| Trade debts | 44 | €27,504 | €11,700 | -€15,805 | -57.5% |
| Suppliers | 440/4 | €27,504 | €11,700 | -€15,805 | -57.5% |
| Taxes, remuneration and social security | 45 | €3,906 | €9,094 | +€5,188 | +133% |
| Taxes | 450/3 | €3,906 | €9,094 | +€5,188 | +133% |
| Other amounts payable | 47/48 | €70,416 | €78,194 | +€7,778 | +11.0% |
| Accrued charges and deferred income | 492/3 | €1,103 | €3,377 | +€2,274 | +206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,075 | €10,559 | -€10,516 | -49.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,050 | +€1,050 | |
| Other operating charges | 640/8 | €3,364 | €2,889 | -€476 | -14.1% |
| Gross operating margin | 9900 | €12,157 | €6,443 | -€5,714 | -47.0% |
| Operating profit (loss) | 9901 | -€12,282 | -€8,054 | +€4,228 | +34.4% |
| Financial income | 75/76B | €593 | €448 | -€145 | -24.5% |
| Recurring financial income | 75 | €593 | €448 | -€145 | -24.5% |
| Financial charges | 65/66B | €2,117 | €3,791 | +€1,675 | +79.1% |
| Recurring financial charges | 65 | €2,117 | €3,791 | +€1,675 | +79.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,806 | -€11,398 | +€2,408 | +17.4% |
| Income taxes | 67/77 | €491 | €531 | +€40 | +8.1% |
| Profit (loss) for the period | 9904 | -€14,297 | -€11,929 | +€2,368 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,297 | -€11,929 | +€2,368 | +16.6% |
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 17 October 2026 via checked.be.