ACS: 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.
ACS
Largest movements
- Tangible fixed assets -€76,357
down €76,357 (-7.4%), from €1.0m to €961,767
of which Land and buildings: -€75,459
- Debts after one year -€66,133
down €66,133 (-7.0%), from €942,286 to €876,153
of which Financial debts: -€70,333
- Other debts +€35,392
up €35,392 (+23.4%), from €150,938 to €186,330
- Profit (loss) carried forward -€25,599
down €25,599 (-13.5%), from -€190,174 to -€215,773
- Current portion of long-term debt -€12,330
down €12,330 (-14.3%), from €86,268 to €73,938
- Taxes +€23,535
up €23,535 (+846.7%), from €2,780 to €26,315
- Gross operating margin -€21,978
down €21,978 (-19.3%), from €114,068 to €92,090
- Depreciation -€8,681
down €8,681 (-10.2%), from €85,038 to €76,357
- Other operating charges +€2,588
up €2,588 (+2625.2%), from €99 to €2,687
- Financial charges -€1,743
down €1,743 (-12.4%), from €14,072 to €12,330
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 | €1,039,689 | €966,043 | -€73,647 | -7.1% |
| Fixed assets | 21/28 | €1,038,832 | €962,475 | -€76,357 | -7.4% |
| Tangible fixed assets | 22/27 | €1,038,124 | €961,767 | -€76,357 | -7.4% |
| Land and buildings | 22 | €1,032,136 | €956,677 | -€75,459 | -7.3% |
| Plant, machinery and equipment | 23 | €4,622 | €3,724 | -€898 | -19.4% |
| Assets under construction and advance payments | 27 | €1,366 | €1,366 | = | 0.0% |
| Financial fixed assets | 28 | €708 | €708 | = | 0.0% |
| Current assets | 29/58 | €857 | €3,567 | +€2,710 | +316.1% |
| Amounts receivable within one year | 40/41 | €848 | €3,567 | +€2,719 | +320.5% |
| Trade receivables | 40 | €848 | €3,567 | +€2,719 | +320.5% |
| Cash at bank and in hand | 54/58 | €9 | - | -€9 | |
| Total equity and liabilities | 10/49 | €1,039,689 | €966,043 | -€73,647 | -7.1% |
| Equity | 10/15 | -€151,387 | -€176,985 | -€25,599 | -16.9% |
| Contributions | 10/11 | €20,189 | €20,189 | = | 0.0% |
| Reserves | 13 | €18,598 | €18,598 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,479 | €4,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,479 | €4,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,120 | €14,120 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,174 | -€215,773 | -€25,599 | -13.5% |
| Amounts payable | 17/49 | €1,191,076 | €1,143,028 | -€48,048 | -4.0% |
| Amounts payable after more than one year | 17 | €942,286 | €876,153 | -€66,133 | -7.0% |
| Financial debts | 170/4 | €929,656 | €859,323 | -€70,333 | -7.6% |
| Other amounts payable | 178/9 | €12,630 | €16,830 | +€4,200 | +33.3% |
| Amounts payable within one year | 42/48 | €248,790 | €266,875 | +€18,085 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €86,268 | €73,938 | -€12,330 | -14.3% |
| Trade debts | 44 | €11,584 | €6,607 | -€4,978 | -43.0% |
| Suppliers | 440/4 | €11,584 | €6,607 | -€4,978 | -43.0% |
| Other amounts payable | 47/48 | €150,938 | €186,330 | +€35,392 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,038 | €76,357 | -€8,681 | -10.2% |
| Other operating charges | 640/8 | €99 | €2,687 | +€2,588 | +2625.2% |
| Gross operating margin | 9900 | €114,068 | €92,090 | -€21,978 | -19.3% |
| Operating profit (loss) | 9901 | €28,931 | €13,046 | -€15,885 | -54.9% |
| Financial charges | 65/66B | €14,072 | €12,330 | -€1,743 | -12.4% |
| Recurring financial charges | 65 | €14,072 | €12,330 | -€1,743 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €14,859 | €716 | -€14,143 | -95.2% |
| Income taxes | 67/77 | €2,780 | €26,315 | +€23,535 | +846.7% |
| Profit (loss) for the period | 9904 | €12,079 | -€25,599 | -€37,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,079 | -€25,599 | -€37,678 |
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 11 October 2026 via checked.be.