ACR MANAGEMENT: 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.
ACR MANAGEMENT
Largest movements
- Cash -€2.0m
down €2.0m (-98.6%), from €2.0m to €28,840
mainly Debts after one year (-€1.8m) and Contributions, distributions and other (-€192,941)
- Receivables within one year +€172,765
up €172,765 (+339%), from €51,018 to €223,783
of which Other amounts receivable: +€172,507
- Debts after one year -€1.8m
down €1.8m (-97.9%), from €1.9m to €39,608
- Other debts +€162,941
up €162,941 (+543%), from €30,000 to €192,941
- Reserves -€141,884
down €141,884 (-99.5%), from €142,541 to €657
- Financial charges +€54,827
up €54,827 (+227%), from €24,191 to €79,019
- Taxes -€25,196
down €25,196 (-55.6%), from €45,291 to €20,095
- Gross operating margin +€13,036
up €13,036 (+8.8%), from €148,427 to €161,463
- Depreciation +€2,764
up €2,764 (+34.0%), from €8,131 to €10,894
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 | €4,261,722 | €2,478,447 | -€1.8m | -41.8% |
| Fixed assets | 21/28 | €2,210,362 | €2,225,712 | +€15,350 | +0.7% |
| Tangible fixed assets | 22/27 | €72,613 | €87,963 | +€15,350 | +21.1% |
| Land and buildings | 22 | €71,914 | €87,585 | +€15,670 | +21.8% |
| Furniture and vehicles | 24 | €699 | €379 | -€320 | -45.8% |
| Financial fixed assets | 28 | €2,137,749 | €2,137,749 | = | 0.0% |
| Current assets | 29/58 | €2,051,360 | €252,735 | -€1.8m | -87.7% |
| Amounts receivable within one year | 40/41 | €51,018 | €223,783 | +€172,765 | +339% |
| Trade receivables | 40 | €24,680 | €24,938 | +€258 | +1.0% |
| Other amounts receivable | 41 | €26,338 | €198,845 | +€172,507 | +655% |
| Cash at bank and in hand | 54/58 | €1,999,755 | €28,840 | -€2.0m | -98.6% |
| Deferred charges and accrued income | 490/1 | €588 | €112 | -€475 | -80.9% |
| Total equity and liabilities | 10/49 | €4,261,722 | €2,478,447 | -€1.8m | -41.8% |
| Equity | 10/15 | €161,140 | €19,256 | -€141,884 | -88.1% |
| Contributions | 10/11 | €18,599 | €18,599 | = | 0.0% |
| Reserves | 13 | €142,541 | €657 | -€141,884 | -99.5% |
| Distributable reserves | 133 | €142,541 | €657 | -€141,884 | -99.5% |
| Amounts payable | 17/49 | €4,100,583 | €2,459,192 | -€1.6m | -40.0% |
| Amounts payable after more than one year | 17 | €1,867,889 | €39,608 | -€1.8m | -97.9% |
| Financial debts | 170/4 | €1,867,889 | €39,608 | -€1.8m | -97.9% |
| Amounts payable within one year | 42/48 | €2,232,694 | €2,408,224 | +€175,530 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €8,156 | €8,281 | +€125 | +1.5% |
| Financial debts | 43 | €2,177,000 | €2,177,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,177,000 | €2,177,000 | = | 0.0% |
| Trade debts | 44 | €17,537 | €14,154 | -€3,383 | -19.3% |
| Suppliers | 440/4 | €4,254 | €14,154 | +€9,900 | +233% |
| Bills of exchange payable | 441 | €13,283 | - | -€13,283 | |
| Taxes, remuneration and social security | 45 | - | €15,847 | +€15,847 | |
| Taxes | 450/3 | - | €15,847 | +€15,847 | |
| Other amounts payable | 47/48 | €30,000 | €192,941 | +€162,941 | +543% |
| Accrued charges and deferred income | 492/3 | - | €11,360 | +€11,360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,131 | €10,894 | +€2,764 | +34.0% |
| Other operating charges | 640/8 | €3,130 | €2,366 | -€764 | -24.4% |
| Gross operating margin | 9900 | €148,427 | €161,463 | +€13,036 | +8.8% |
| Operating profit (loss) | 9901 | €137,167 | €148,203 | +€11,036 | +8.0% |
| Financial income | 75/76B | €2,030 | €1,967 | -€62 | -3.1% |
| Recurring financial income | 75 | €2,030 | €1,967 | -€62 | -3.1% |
| Financial charges | 65/66B | €24,191 | €79,019 | +€54,827 | +227% |
| Recurring financial charges | 65 | €24,191 | €79,019 | +€54,827 | +227% |
| Profit (loss) for the period before taxes | 9903 | €115,005 | €71,152 | -€43,853 | -38.1% |
| Income taxes | 67/77 | €45,291 | €20,095 | -€25,196 | -55.6% |
| Profit (loss) for the period | 9904 | €69,715 | €51,057 | -€18,658 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,715 | €51,057 | -€18,658 | -26.8% |
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 24 October 2026 via checked.be.