ACS Partners: 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 Partners
Largest movements
- Receivables within one year -€129,345
down €129,345 (-19.4%), from €667,530 to €538,185
of which Trade receivables: -€141,855
- Stocks and contracts +€40,124
up €40,124 (+55.4%), from €72,406 to €112,530
- Deferred charges and accrued income -€21,879
down €21,879 (-42.1%), from €51,940 to €30,061
- Financial fixed assets -€17,813
down €17,813 (-52.9%), from €33,661 to €15,849
- Formation expenses -€13,504
down €13,504 (-23.7%), from €56,890 to €43,386
- Profit (loss) carried forward +€81,731
up €81,731 (+20.2%), from €404,867 to €486,598
- Trade debts -€74,130
down €74,130 (-25.3%), from €293,531 to €219,401
- Debts after one year -€60,785
down €60,785 (-82.0%), from €74,162 to €13,377
- Accrued charges and deferred income -€36,808
down €36,808 (-43.2%), from €85,277 to €48,469
- Provisions -€30,228
no longer reported in 2026 (was €30,228)
- Gross operating margin -€658,785
down €658,785 (-52.7%), from €1.3m to €592,098
- Staff costs -€617,645
down €617,645 (-59.3%), from €1.0m to €423,138
- Write-downs -€62,019
no longer reported in 2026 (was €62,019)
- Financial charges -€36,695
down €36,695 (-91.0%), from €40,302 to €3,607
- Depreciation -€21,370
down €21,370 (-31.5%), from €67,813 to €46,443
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,139,872 | €978,859 | -€161,012 | -14.1% |
| Formation expenses | 20 | €56,890 | €43,386 | -€13,504 | -23.7% |
| Fixed assets | 21/28 | €117,206 | €83,780 | -€33,426 | -28.5% |
| Intangible fixed assets | 21 | €14,587 | €6,253 | -€8,333 | -57.1% |
| Tangible fixed assets | 22/27 | €68,958 | €61,678 | -€7,280 | -10.6% |
| Plant, machinery and equipment | 23 | €67,639 | €61,678 | -€5,961 | -8.8% |
| Furniture and vehicles | 24 | €1,320 | - | -€1,320 | |
| Financial fixed assets | 28 | €33,661 | €15,849 | -€17,813 | -52.9% |
| Current assets | 29/58 | €965,776 | €851,693 | -€114,083 | -11.8% |
| Stocks and contracts in progress | 3 | €72,406 | €112,530 | +€40,124 | +55.4% |
| Stocks | 30/36 | €72,406 | €112,530 | +€40,124 | +55.4% |
| Amounts receivable within one year | 40/41 | €667,530 | €538,185 | -€129,345 | -19.4% |
| Trade receivables | 40 | €667,302 | €525,447 | -€141,855 | -21.3% |
| Other amounts receivable | 41 | €228 | €12,738 | +€12,511 | +5,492% |
| Cash at bank and in hand | 54/58 | €173,901 | €170,918 | -€2,983 | -1.7% |
| Deferred charges and accrued income | 490/1 | €51,940 | €30,061 | -€21,879 | -42.1% |
| Total equity and liabilities | 10/49 | €1,139,872 | €978,859 | -€161,012 | -14.1% |
| Equity | 10/15 | €544,467 | €630,498 | +€86,031 | +15.8% |
| Contributions | 10/11 | €133,400 | €133,400 | = | 0.0% |
| Capital | 10 | €133,400 | €133,400 | = | 0.0% |
| Issued capital | 100 | €133,400 | €133,400 | = | 0.0% |
| Reserves | 13 | €6,200 | €10,500 | +€4,300 | +69.4% |
| Non-distributable reserves | 130/1 | €6,200 | €10,500 | +€4,300 | +69.4% |
| Legal reserve | 130 | €6,200 | €10,500 | +€4,300 | +69.4% |
| Profit (loss) carried forward | 14 | €404,867 | €486,598 | +€81,731 | +20.2% |
| Provisions and deferred taxes | 16 | €30,228 | - | -€30,228 | |
| Provisions for liabilities and charges | 160/5 | €30,228 | - | -€30,228 | |
| Other liabilities and charges | 164/5 | €30,228 | - | -€30,228 | |
| Amounts payable | 17/49 | €565,177 | €348,361 | -€216,815 | -38.4% |
| Amounts payable after more than one year | 17 | €74,162 | €13,377 | -€60,785 | -82.0% |
| Financial debts | 170/4 | €74,162 | €13,377 | -€60,785 | -82.0% |
| Amounts payable within one year | 42/48 | €405,738 | €286,515 | -€119,223 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €58,355 | €42,972 | -€15,383 | -26.4% |
| Trade debts | 44 | €293,531 | €219,401 | -€74,130 | -25.3% |
| Suppliers | 440/4 | €293,531 | €219,401 | -€74,130 | -25.3% |
| Taxes, remuneration and social security | 45 | €53,852 | €24,141 | -€29,710 | -55.2% |
| Taxes | 450/3 | €39,214 | - | -€39,214 | |
| Remuneration and social security | 454/9 | €14,638 | €24,141 | +€9,504 | +64.9% |
| Accrued charges and deferred income | 492/3 | €85,277 | €48,469 | -€36,808 | -43.2% |
| Non-recurring operating income | 76A | €141,539 | - | -€141,539 | |
| Remuneration, social security and pensions | 62 | €1,040,783 | €423,138 | -€617,645 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,813 | €46,443 | -€21,370 | -31.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,019 | - | -€62,019 | |
| Other operating charges | 640/8 | €3,444 | €1,333 | -€2,111 | -61.3% |
| Non-recurring operating charges | 66A | €19,147 | €961 | -€18,186 | -95.0% |
| Gross operating margin | 9900 | €1,250,882 | €592,098 | -€658,785 | -52.7% |
| Operating profit (loss) | 9901 | €57,676 | €120,223 | +€62,547 | +108% |
| Financial income | 75/76B | €406 | €2,488 | +€2,082 | +513% |
| Recurring financial income | 75 | €406 | €2,488 | +€2,082 | +513% |
| Financial charges | 65/66B | €40,302 | €3,607 | -€36,695 | -91.0% |
| Recurring financial charges | 65 | €40,302 | €3,607 | -€36,695 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €17,780 | €119,104 | +€101,324 | +570% |
| Income taxes | 67/77 | €13,804 | €33,073 | +€19,269 | +140% |
| Profit (loss) for the period | 9904 | €3,976 | €86,031 | +€82,055 | +2,064% |
| Profit (loss) for the period to be appropriated | 9905 | €3,976 | €86,031 | +€82,055 | +2,064% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.