ACPY: 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.
ACPY
Largest movements
- Receivables within one year +€192,191
up €192,191 (+196.3%), from €97,894 to €290,084
of which Other amounts receivable: +€182,211
- Deferred charges and accrued income +€16,461
new in 2025: €16,461
- Tangible fixed assets +€11,644
up €11,644 (+345.6%), from €3,370 to €15,014
of which Furniture and vehicles: +€11,727
- Reserves +€147,709
up €147,709 (+113.1%), from €130,613 to €278,321
- Other debts +€26,450
up €26,450 (+274.7%), from €9,629 to €36,079
- Debts after one year -€25,000
no longer reported in 2025 (was €25,000)
- Current portion of long-term debt +€25,000
new in 2025: €25,000
- Short-term financial debts +€23,929
new in 2025: €23,929
- Financial charges -€113,080
down €113,080 (-94.6%), from €119,510 to €6,430
of which Non-recurring financial charges: -€115,000
- Taxes +€12,602
up €12,602 (+114.5%), from €11,007 to €23,610
- Financial income -€10,020
down €10,020 (-5.7%), from €176,531 to €166,512
- Depreciation +€1,971
up €1,971 (+76.8%), from €2,566 to €4,537
- Gross operating margin -€1,911
down €1,911 (-10.2%), from €18,793 to €16,882
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 | €437,577 | €656,994 | +€219,417 | +50.1% |
| Formation expenses | 20 | €494 | €240 | -€254 | -51.4% |
| Fixed assets | 21/28 | €328,555 | €340,199 | +€11,644 | +3.5% |
| Tangible fixed assets | 22/27 | €3,370 | €15,014 | +€11,644 | +345.6% |
| Plant, machinery and equipment | 23 | €133 | €50 | -€83 | -62.5% |
| Furniture and vehicles | 24 | €3,237 | €14,964 | +€11,727 | +362.3% |
| Financial fixed assets | 28 | €325,186 | €325,186 | = | 0.0% |
| Current assets | 29/58 | €108,528 | €316,555 | +€208,027 | +191.7% |
| Amounts receivable within one year | 40/41 | €97,894 | €290,084 | +€192,191 | +196.3% |
| Trade receivables | 40 | €21 | €10,000 | +€9,979 | +48302.7% |
| Other amounts receivable | 41 | €97,873 | €280,084 | +€182,211 | +186.2% |
| Cash at bank and in hand | 54/58 | €10,634 | €10,010 | -€624 | -5.9% |
| Deferred charges and accrued income | 490/1 | - | €16,461 | +€16,461 | |
| Total equity and liabilities | 10/49 | €437,577 | €656,994 | +€219,417 | +50.1% |
| Equity | 10/15 | €380,613 | €528,321 | +€147,709 | +38.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €130,613 | €278,321 | +€147,709 | +113.1% |
| Distributable reserves | 133 | €130,613 | €278,321 | +€147,709 | +113.1% |
| Amounts payable | 17/49 | €56,964 | €128,673 | +€71,708 | +125.9% |
| Amounts payable after more than one year | 17 | €25,000 | - | -€25,000 | |
| Other amounts payable | 178/9 | €25,000 | - | -€25,000 | |
| Amounts payable within one year | 42/48 | €31,964 | €122,618 | +€90,653 | +283.6% |
| Current portion of amounts payable after more than one year | 42 | - | €25,000 | +€25,000 | |
| Financial debts | 43 | - | €23,929 | +€23,929 | |
| Credit institutions | 430/8 | - | €23,929 | +€23,929 | |
| Trade debts | 44 | €766 | €3,032 | +€2,266 | +296.0% |
| Suppliers | 440/4 | €766 | €3,032 | +€2,266 | +296.0% |
| Taxes, remuneration and social security | 45 | €21,570 | €34,578 | +€13,008 | +60.3% |
| Taxes | 450/3 | €21,570 | €34,578 | +€13,008 | +60.3% |
| Other amounts payable | 47/48 | €9,629 | €36,079 | +€26,450 | +274.7% |
| Accrued charges and deferred income | 492/3 | - | €6,055 | +€6,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,566 | €4,537 | +€1,971 | +76.8% |
| Other operating charges | 640/8 | €1,207 | €1,109 | -€98 | -8.1% |
| Gross operating margin | 9900 | €18,793 | €16,882 | -€1,911 | -10.2% |
| Operating profit (loss) | 9901 | €15,019 | €11,236 | -€3,783 | -25.2% |
| Financial income | 75/76B | €176,531 | €166,512 | -€10,020 | -5.7% |
| Recurring financial income | 75 | €176,531 | €166,512 | -€10,020 | -5.7% |
| Financial charges | 65/66B | €119,510 | €6,430 | -€113,080 | -94.6% |
| Recurring financial charges | 65 | €4,510 | €6,430 | +€1,920 | +42.6% |
| Non-recurring financial charges | 66B | €115,000 | - | -€115,000 | |
| Profit (loss) for the period before taxes | 9903 | €72,041 | €171,318 | +€99,277 | +137.8% |
| Income taxes | 67/77 | €11,007 | €23,610 | +€12,602 | +114.5% |
| Profit (loss) for the period | 9904 | €61,034 | €147,709 | +€86,675 | +142.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,034 | €147,709 | +€86,675 | +142.0% |
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 3 October 2026 via checked.be.