Acs Holding: 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 Holding
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+30.0%), from €5.0m to €6.5m
of which Affiliated companies: +€1.8m
- Receivables within one year +€748,589
up €748,589 (+134%), from €559,176 to €1.3m
of which Other amounts receivable: +€939,258
- Current investments +€125,000
new in 2025: €125,000
- Cash +€108,495
up €108,495 (+73.4%), from €147,725 to €256,220
mainly Net result for the year (+€4.1m) and Other debts (+€1.3m)
- Other debts +€1.3m
up €1.3m (+62.4%), from €2.0m to €3.3m
- Reserves +€779,831
up €779,831 (+40.9%), from €1.9m to €2.7m
of which Distributable reserves: +€779,831
- Debts after one year +€296,695
up €296,695 (+23.6%), from €1.3m to €1.6m
of which Other amounts payable: +€226,400
- Financial income +€1.2m
up €1.2m (+55.6%), from €2.2m to €3.4m
of which Financial income: +€1.0m
- Turnover +€237,200
up €237,200 (+18.4%), from €1.3m to €1.5m
- Services and other goods +€51,400
up €51,400 (+9.1%), from €564,108 to €615,507
- Taxes +€48,715
up €48,715 (+31.0%), from €157,400 to €206,115
- Financial charges -€15,694
down €15,694 (-15.3%), from €102,879 to €87,185
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 | €5,738,683 | €8,232,289 | +€2.5m | +43.5% |
| Fixed assets | 21/28 | €5,030,766 | €6,542,289 | +€1.5m | +30.0% |
| Financial fixed assets | 28 | €5,030,766 | €6,542,289 | +€1.5m | +30.0% |
| Affiliated companies | 280/1 | €4,551,719 | €6,372,995 | +€1.8m | +40.0% |
| Participating interests | 280 | €4,551,719 | €6,372,995 | +€1.8m | +40.0% |
| Companies linked by participating interests | 282/3 | €79,047 | €169,293 | +€90,247 | +114% |
| Participating interests | 282 | €79,047 | €169,293 | +€90,247 | +114% |
| Other financial fixed assets | 284/8 | €400,000 | €0 | -€400,000 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €400,000 | €0 | -€400,000 | -100% |
| Current assets | 29/58 | €707,917 | €1,690,001 | +€982,083 | +139% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €559,176 | €1,307,765 | +€748,589 | +134% |
| Trade receivables | 40 | €190,669 | €0 | -€190,669 | -100% |
| Other amounts receivable | 41 | €368,507 | €1,307,765 | +€939,258 | +255% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Other investments | 51/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €147,725 | €256,220 | +€108,495 | +73.4% |
| Deferred charges and accrued income | 490/1 | €1,016 | €1,016 | = | 0.0% |
| Total equity and liabilities | 10/49 | €5,738,683 | €8,232,289 | +€2.5m | +43.5% |
| Equity | 10/15 | €2,035,172 | €2,815,003 | +€779,831 | +38.3% |
| Contributions | 10/11 | €128,000 | €128,000 | = | 0.0% |
| Capital | 10 | €128,000 | €128,000 | = | 0.0% |
| Issued capital | 100 | €128,000 | €128,000 | = | 0.0% |
| Reserves | 13 | €1,907,172 | €2,687,003 | +€779,831 | +40.9% |
| Non-distributable reserves | 130/1 | €12,800 | €12,800 | = | 0.0% |
| Legal reserve | 130 | €12,800 | €12,800 | = | 0.0% |
| Distributable reserves | 133 | €1,894,372 | €2,674,203 | +€779,831 | +41.2% |
| Amounts payable | 17/49 | €3,703,511 | €5,417,286 | +€1.7m | +46.3% |
| Amounts payable after more than one year | 17 | €1,257,874 | €1,554,569 | +€296,695 | +23.6% |
| Financial debts | 170/4 | €1,257,874 | €1,328,169 | +€70,295 | +5.6% |
| Unsubordinated bonds | 171 | €1,008,634 | €882,000 | -€126,634 | -12.6% |
| Credit institutions | 173 | €249,240 | €446,169 | +€196,929 | +79.0% |
| Other amounts payable | 178/9 | - | €226,400 | +€226,400 | |
| Amounts payable within one year | 42/48 | €2,445,637 | €3,862,717 | +€1.4m | +57.9% |
| Current portion of amounts payable after more than one year | 42 | €186,282 | €243,071 | +€56,789 | +30.5% |
| Trade debts | 44 | €99,382 | €147,046 | +€47,664 | +48.0% |
| Suppliers | 440/4 | €99,382 | €147,046 | +€47,664 | +48.0% |
| Taxes, remuneration and social security | 45 | €126,314 | €170,848 | +€44,533 | +35.3% |
| Taxes | 450/3 | €126,314 | €170,848 | +€44,533 | +35.3% |
| Other amounts payable | 47/48 | €2,033,659 | €3,301,753 | +€1.3m | +62.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €1,291,300 | €1,524,000 | +€232,700 | +18.0% |
| Turnover | 70 | €1,286,800 | €1,524,000 | +€237,200 | +18.4% |
| Other operating income | 74 | €4,500 | €0 | -€4,500 | -100% |
| Operating charges | 60/66A | €565,520 | €617,209 | +€51,689 | +9.1% |
| Services and other goods | 61 | €564,108 | €615,507 | +€51,400 | +9.1% |
| Other operating charges | 640/8 | €1,412 | €1,702 | +€289 | +20.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €725,780 | €906,791 | +€181,011 | +24.9% |
| Financial income | 75/76B | €2,215,381 | €3,446,340 | +€1.2m | +55.6% |
| Recurring financial income | 75 | €2,215,381 | €3,216,515 | +€1.0m | +45.2% |
| Income from financial fixed assets | 750 | €2,211,558 | €3,213,129 | +€1.0m | +45.3% |
| Income from current assets | 751 | €3,823 | €2,832 | -€992 | -25.9% |
| Other financial income | 752/9 | €0 | €555 | +€555 | |
| Non-recurring financial income | 76B | - | €229,825 | +€229,825 | |
| Financial charges | 65/66B | €102,879 | €87,185 | -€15,694 | -15.3% |
| Recurring financial charges | 65 | €102,879 | €87,185 | -€15,694 | -15.3% |
| Debt charges | 650 | €102,215 | €85,896 | -€16,319 | -16.0% |
| Other financial charges | 652/9 | €664 | €1,289 | +€625 | +94.1% |
| Profit (loss) for the period before taxes | 9903 | €2,838,282 | €4,265,946 | +€1.4m | +50.3% |
| Income taxes | 67/77 | €157,400 | €206,115 | +€48,715 | +31.0% |
| Taxes | 670/3 | €157,400 | €206,115 | +€48,715 | +31.0% |
| Profit (loss) for the period | 9904 | €2,680,882 | €4,059,831 | +€1.4m | +51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,680,882 | €4,059,831 | +€1.4m | +51.4% |
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 20 October 2026 via checked.be.