ACSW: what changed
Two fiscal 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.
What changed
ACSW
NACE 46.500, Wholesale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€37,119
2024 · €14,828+€22,291
Equity
€15.3m
2024 · €15.3m+€37,120
Cash
€147,508
2024 · €21,351+€126,157
Balance sheet total
€16.2m
2024 · €15.9m+€276,216
Largest movements
Assets
- Receivables after one year -€950,000
no longer reported in 2025 (was €950,000)
- Receivables within one year +€759,112
up €759,112 (+99.0%), from €766,994 to €1.5m
of which Trade receivables: +€653,291
- Intangible fixed assets +€312,022
up €312,022 (+421.6%), from €74,003 to €386,025
Equity and liabilities
- Trade debts +€195,791
up €195,791 (+47.4%), from €413,389 to €609,180
Income statement
- Turnover +€4.0m
new in 2025: €4.0m
- Services and other goods +€2.4m
new in 2025: €2.4m
- Gross operating margin -€954,101
no longer reported in 2025 (was €954,101)
- Staff costs +€634,171
up €634,171 (+71.0%), from €893,160 to €1.5m
- Taxes +€58,353
up €58,353 (+230.6%), from €25,309 to €83,662
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.
Result 2024
€14,828
Turnover
+€4.0m
Other operating income
+€7,105
Services and other goods
-€2.4m
Staff costs
-€634,171
Depreciation
-€23,395
Other operating charges
-€204
Other operating items
-€932,075
Financial income
+€24,752
Financial charges
-€6,529
Taxes
-€58,353
Result 2025
€37,119
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.
From operations
+€482,203
Investment
-€356,047
Financing
+€1
Cash 2024
€21,351
From operations (derived)
+€482,203
Net result for the year
+€37,119
Depreciation
+€32,905
Receivables after one year
+€950,000
Receivables within one year
-€759,112
Deferred charges and accrued income
-€17,805
Trade debts
+€195,791
Tax, wage and social debts
+€45,127
Accrued charges and deferred income
-€1,822
Investment (derived)
-€356,047
Investment in fixed assets (net)
-€356,047
Financing
+€1
Contributions, distributions and other
+€1
Cash 2025
€147,508
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,880,133 | €16,156,349 | +€276,216 | +1.7% |
| Formation expenses | 20 | €6,652 | - | -€6,652 | |
| Fixed assets | 21/28 | €14,127,568 | €14,457,362 | +€329,794 | +2.3% |
| Intangible fixed assets | 21 | €74,003 | €386,025 | +€312,022 | +421.6% |
| Tangible fixed assets | 22/27 | €3,999 | €3,354 | -€645 | -16.1% |
| Plant, machinery and equipment | 23 | €2,738 | €3,354 | +€616 | +22.5% |
| Assets under construction and advance payments | 27 | €1,261 | - | -€1,261 | |
| Financial fixed assets | 28 | €14,049,566 | €14,067,983 | +€18,417 | +0.1% |
| Affiliated companies | 280/1 | - | €14,067,983 | +€14.1m | |
| Participating interests | 280 | - | €14,067,983 | +€14.1m | |
| Current assets | 29/58 | €1,745,913 | €1,698,987 | -€46,926 | -2.7% |
| Amounts receivable after more than one year | 29 | €950,000 | - | -€950,000 | |
| Other amounts receivable | 291 | €950,000 | - | -€950,000 | |
| Amounts receivable within one year | 40/41 | €766,994 | €1,526,106 | +€759,112 | +99.0% |
| Trade receivables | 40 | €609,611 | €1,262,902 | +€653,291 | +107.2% |
| Other amounts receivable | 41 | €157,383 | €263,204 | +€105,821 | +67.2% |
| Cash at bank and in hand | 54/58 | €21,351 | €147,508 | +€126,157 | +590.9% |
| Deferred charges and accrued income | 490/1 | €7,568 | €25,373 | +€17,805 | +235.3% |
| Total equity and liabilities | 10/49 | €15,880,133 | €16,156,349 | +€276,216 | +1.7% |
| Equity | 10/15 | €15,256,107 | €15,293,227 | +€37,120 | +0.2% |
| Contributions | 10/11 | €15,303,114 | €15,303,114 | = | 0.0% |
| Capital | 10 | €15,303,114 | €15,303,114 | = | 0.0% |
| Issued capital | 100 | €15,303,114 | €15,303,114 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,007 | -€9,887 | +€37,120 | +79.0% |
| Amounts payable | 17/49 | €624,026 | €863,122 | +€239,096 | +38.3% |
| Amounts payable within one year | 42/48 | €622,204 | €863,122 | +€240,918 | +38.7% |
| Trade debts | 44 | €413,389 | €609,180 | +€195,791 | +47.4% |
| Suppliers | 440/4 | €413,389 | €609,180 | +€195,791 | +47.4% |
| Taxes, remuneration and social security | 45 | €208,815 | €253,942 | +€45,127 | +21.6% |
| Taxes | 450/3 | €5,856 | €46,568 | +€40,712 | +695.2% |
| Remuneration and social security | 454/9 | €202,959 | €207,374 | +€4,415 | +2.2% |
| Accrued charges and deferred income | 492/3 | €1,822 | - | -€1,822 | |
| Operating income | 70/76A | - | €4,043,244 | +€4.0m | |
| Turnover | 70 | - | €4,014,113 | +€4.0m | |
| Own construction capitalised | 72 | - | €22,026 | +€22,026 | |
| Other operating income | 74 | - | €7,105 | +€7,105 | |
| Operating charges | 60/66A | - | €3,930,397 | +€3.9m | |
| Services and other goods | 61 | - | €2,368,952 | +€2.4m | |
| Remuneration, social security and pensions | 62 | €893,160 | €1,527,331 | +€634,171 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,510 | €32,905 | +€23,395 | +246.0% |
| Other operating charges | 640/8 | €1,005 | €1,209 | +€204 | +20.3% |
| Gross operating margin | 9900 | €954,101 | - | -€954,101 | |
| Operating profit (loss) | 9901 | €50,426 | €112,847 | +€62,421 | +123.8% |
| Financial income | 75/76B | €68 | €24,820 | +€24,752 | +36400.0% |
| Recurring financial income | 75 | €68 | €24,820 | +€24,752 | +36400.0% |
| Income from current assets | 751 | - | €24,820 | +€24,820 | |
| Financial charges | 65/66B | €10,357 | €16,886 | +€6,529 | +63.0% |
| Recurring financial charges | 65 | €10,357 | €16,886 | +€6,529 | +63.0% |
| Debt charges | 650 | - | €16,886 | +€16,886 | |
| Profit (loss) for the period before taxes | 9903 | €40,137 | €120,781 | +€80,644 | +200.9% |
| Income taxes | 67/77 | €25,309 | €83,662 | +€58,353 | +230.6% |
| Taxes | 670/3 | - | €83,662 | +€83,662 | |
| Profit (loss) for the period | 9904 | €14,828 | €37,119 | +€22,291 | +150.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,828 | €37,119 | +€22,291 | +150.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.