ACSV: 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.
ACSV
Largest movements
- Tangible fixed assets +€34,274
up €34,274 (+43.7%), from €78,405 to €112,679
of which Leasing and similar rights: +€18,104
- Stocks and contracts +€7,000
up €7,000 (+64.4%), from €10,871 to €17,871
of which Contracts in progress: +€7,000
- Receivables within one year -€6,039
down €6,039 (-13.4%), from €45,110 to €39,071
of which Trade receivables: -€12,580
- Cash -€5,875
down €5,875 (-14.9%), from €39,528 to €33,653
mainly Investment in fixed assets (net) (-€60,814) and Stocks and contracts (-€7,000)
- Reserves +€27,519
up €27,519 (+36.2%), from €76,010 to €103,529
- Other debts -€5,405
down €5,405 (-45.2%), from €11,964 to €6,559
- Current portion of long-term debt +€5,278
up €5,278 (+31.2%), from €16,920 to €22,198
- Trade debts +€4,723
up €4,723 (+138%), from €3,427 to €8,150
- Tax, wage and social debts -€4,536
down €4,536 (-34.7%), from €13,082 to €8,546
- Gross operating margin -€51,020
down €51,020 (-41.6%), from €122,557 to €71,537
- Taxes -€15,396
down €15,396 (-57.3%), from €26,854 to €11,458
- Depreciation +€4,152
up €4,152 (+18.5%), from €22,389 to €26,541
- Financial charges +€2,016
up €2,016 (+134%), from €1,508 to €3,524
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 | €173,913 | €203,273 | +€29,360 | +16.9% |
| Fixed assets | 21/28 | €78,405 | €112,679 | +€34,274 | +43.7% |
| Tangible fixed assets | 22/27 | €78,405 | €112,679 | +€34,274 | +43.7% |
| Plant, machinery and equipment | 23 | €53,528 | €69,058 | +€15,530 | +29.0% |
| Furniture and vehicles | 24 | €838 | €1,828 | +€990 | +118% |
| Leasing and similar rights | 25 | €23,338 | €41,442 | +€18,104 | +77.6% |
| Other tangible fixed assets | 26 | €700 | €350 | -€350 | -50.0% |
| Current assets | 29/58 | €95,508 | €90,595 | -€4,913 | -5.1% |
| Stocks and contracts in progress | 3 | €10,871 | €17,871 | +€7,000 | +64.4% |
| Stocks | 30/36 | €10,871 | €10,871 | = | 0.0% |
| Contracts in progress | 37 | - | €7,000 | +€7,000 | |
| Amounts receivable within one year | 40/41 | €45,110 | €39,071 | -€6,039 | -13.4% |
| Trade receivables | 40 | €45,110 | €32,529 | -€12,580 | -27.9% |
| Other amounts receivable | 41 | - | €6,542 | +€6,542 | |
| Cash at bank and in hand | 54/58 | €39,528 | €33,653 | -€5,875 | -14.9% |
| Total equity and liabilities | 10/49 | €173,913 | €203,273 | +€29,360 | +16.9% |
| Equity | 10/15 | €94,560 | €122,079 | +€27,519 | +29.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €76,010 | €103,529 | +€27,519 | +36.2% |
| Distributable reserves | 133 | €76,010 | €103,529 | +€27,519 | +36.2% |
| Amounts payable | 17/49 | €79,353 | €81,195 | +€1,841 | +2.3% |
| Amounts payable after more than one year | 17 | €31,926 | €29,665 | -€2,261 | -7.1% |
| Financial debts | 170/4 | €31,926 | €29,665 | -€2,261 | -7.1% |
| Amounts payable within one year | 42/48 | €47,428 | €51,530 | +€4,102 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €16,920 | €22,198 | +€5,278 | +31.2% |
| Financial debts | 43 | €2,035 | €6,077 | +€4,042 | +199% |
| Other loans | 439 | €2,035 | €6,077 | +€4,042 | +199% |
| Trade debts | 44 | €3,427 | €8,150 | +€4,723 | +138% |
| Suppliers | 440/4 | €3,427 | €8,150 | +€4,723 | +138% |
| Taxes, remuneration and social security | 45 | €13,082 | €8,546 | -€4,536 | -34.7% |
| Taxes | 450/3 | €13,082 | €8,546 | -€4,536 | -34.7% |
| Other amounts payable | 47/48 | €11,964 | €6,559 | -€5,405 | -45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,389 | €26,541 | +€4,152 | +18.5% |
| Other operating charges | 640/8 | €914 | €1,462 | +€548 | +59.9% |
| Gross operating margin | 9900 | €122,557 | €71,537 | -€51,020 | -41.6% |
| Operating profit (loss) | 9901 | €99,254 | €43,535 | -€55,719 | -56.1% |
| Financial income | 75/76B | €1,420 | €215 | -€1,205 | -84.9% |
| Recurring financial income | 75 | €1,420 | €215 | -€1,205 | -84.9% |
| Financial charges | 65/66B | €1,508 | €3,524 | +€2,016 | +134% |
| Recurring financial charges | 65 | €1,508 | €3,524 | +€2,016 | +134% |
| Profit (loss) for the period before taxes | 9903 | €99,166 | €40,225 | -€58,941 | -59.4% |
| Income taxes | 67/77 | €26,854 | €11,458 | -€15,396 | -57.3% |
| Profit (loss) for the period | 9904 | €72,312 | €28,767 | -€43,545 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,312 | €28,767 | -€43,545 | -60.2% |
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 14 October 2026 via checked.be.