ACS-Invest: what changed
ACS-Invest
Largest movements
- Tangible fixed assets -€31,175
down €31,175 (-14.8%), from €211,310 to €180,134
of which Land and buildings: -€26,523
- Current investments -€28,555
down €28,555 (-11.5%), from €249,129 to €220,574
- Receivables within one year -€24,377
down €24,377 (-72.5%), from €33,610 to €9,233
of which Trade receivables: -€17,629
- Cash +€10,144
up €10,144 (+47.0%), from €21,571 to €31,715
mainly Depreciation (+€31,754) and Current investments (+€28,555)
- Reserves -€29,432
down €29,432 (-14.9%), from €197,375 to €167,942
- Debts after one year -€29,167
down €29,167 (-23.0%), from €126,800 to €97,633
- Other debts -€17,903
down €17,903 (-15.4%), from €116,402 to €98,499
- Tax, wage and social debts +€9,420
up €9,420 (+1,658%), from €568 to €9,988
of which Taxes: +€6,168
- Current portion of long-term debt -€8,185
down €8,185 (-21.9%), from €37,351 to €29,167
- Financial income +€23,924
up €23,924 (+31,578%), from €76 to €23,999
- Other operating charges +€8,694
up €8,694 (+103%), from €8,418 to €17,112
- Depreciation -€7,820
down €7,820 (-19.8%), from €39,575 to €31,754
- Taxes +€2,310
up €2,310 (+97.3%), from €2,375 to €4,685
- Gross operating margin +€717
up €717 (+1.1%), from €64,038 to €64,755
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €517,731 | €443,767 | -€73,964 | -14.3% |
| Fixed assets | 21/28 | €213,421 | €182,245 | -€31,175 | -14.6% |
| Tangible fixed assets | 22/27 | €211,310 | €180,134 | -€31,175 | -14.8% |
| Land and buildings | 22 | €197,260 | €170,737 | -€26,523 | -13.4% |
| Plant, machinery and equipment | 23 | €4,700 | €4,212 | -€488 | -10.4% |
| Furniture and vehicles | 24 | €9,350 | €5,185 | -€4,165 | -44.5% |
| Financial fixed assets | 28 | €2,111 | €2,111 | = | 0.0% |
| Current assets | 29/58 | €304,310 | €261,522 | -€42,788 | -14.1% |
| Amounts receivable within one year | 40/41 | €33,610 | €9,233 | -€24,377 | -72.5% |
| Trade receivables | 40 | €26,862 | €9,233 | -€17,629 | -65.6% |
| Other amounts receivable | 41 | €6,748 | - | -€6,748 | |
| Current investments | 50/53 | €249,129 | €220,574 | -€28,555 | -11.5% |
| Cash at bank and in hand | 54/58 | €21,571 | €31,715 | +€10,144 | +47.0% |
| Total equity and liabilities | 10/49 | €517,731 | €443,767 | -€73,964 | -14.3% |
| Equity | 10/15 | €215,967 | €186,534 | -€29,432 | -13.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €197,375 | €167,942 | -€29,432 | -14.9% |
| Distributable reserves | 133 | €197,375 | €167,942 | -€29,432 | -14.9% |
| Amounts payable | 17/49 | €301,764 | €257,233 | -€44,531 | -14.8% |
| Amounts payable after more than one year | 17 | €126,800 | €97,633 | -€29,167 | -23.0% |
| Financial debts | 170/4 | €126,800 | €97,633 | -€29,167 | -23.0% |
| Amounts payable within one year | 42/48 | €174,964 | €159,599 | -€15,365 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €37,351 | €29,167 | -€8,185 | -21.9% |
| Financial debts | 43 | - | €426 | +€426 | |
| Credit institutions | 430/8 | - | €426 | +€426 | |
| Trade debts | 44 | €20,642 | €21,520 | +€877 | +4.2% |
| Suppliers | 440/4 | €20,642 | €21,520 | +€877 | +4.2% |
| Taxes, remuneration and social security | 45 | €568 | €9,988 | +€9,420 | +1,658% |
| Taxes | 450/3 | €568 | €6,737 | +€6,168 | +1,086% |
| Remuneration and social security | 454/9 | - | €3,252 | +€3,252 | |
| Other amounts payable | 47/48 | €116,402 | €98,499 | -€17,903 | -15.4% |
| Non-recurring operating income | 76A | €1,810 | - | -€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,575 | €31,754 | -€7,820 | -19.8% |
| Other operating charges | 640/8 | €8,418 | €17,112 | +€8,694 | +103% |
| Gross operating margin | 9900 | €64,038 | €64,755 | +€717 | +1.1% |
| Operating profit (loss) | 9901 | €16,045 | €15,888 | -€157 | -1.0% |
| Financial income | 75/76B | €76 | €23,999 | +€23,924 | +31,578% |
| Recurring financial income | 75 | €76 | €23,999 | +€23,924 | +31,578% |
| Financial charges | 65/66B | €8,063 | €7,635 | -€428 | -5.3% |
| Recurring financial charges | 65 | €8,063 | €7,635 | -€428 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €8,057 | €32,253 | +€24,195 | +300% |
| Income taxes | 67/77 | €2,375 | €4,685 | +€2,310 | +97.3% |
| Profit (loss) for the period | 9904 | €5,682 | €27,568 | +€21,885 | +385% |
| Profit (loss) for the period to be appropriated | 9905 | €5,682 | €27,568 | +€21,885 | +385% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.