ACT: 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.
ACT
Largest movements
- Cash +€206,608
up €206,608 (+152.4%), from €135,554 to €342,162
mainly Other debts (+€245,107) and Net result for the year (+€151,183)
- Current investments +€204,870
up €204,870 (+72.0%), from €284,594 to €489,464
- Receivables within one year +€14,889
up €14,889 (+34.8%), from €42,834 to €57,723
of which Trade receivables: +€20,523
- Other debts +€245,107
up €245,107 (+2511.1%), from €9,761 to €254,868
- Reserves +€151,183
up €151,183 (+35.3%), from €428,611 to €579,793
- Tax, wage and social debts +€26,507
up €26,507 (+214.9%), from €12,336 to €38,843
- Gross operating margin +€78,003
up €78,003 (+56.5%), from €137,990 to €215,992
- Taxes +€28,091
up €28,091 (+64.3%), from €43,659 to €71,750
- Financial income +€17,005
up €17,005 (+651.9%), from €2,609 to €19,613
- Financial charges +€9,117
up €9,117 (+1169.8%), from €779 to €9,897
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €469,308 | €892,487 | +€423,179 | +90.2% |
| Fixed assets | 21/28 | €5,074 | €3,137 | -€1,937 | -38.2% |
| Tangible fixed assets | 22/27 | €5,074 | €3,137 | -€1,937 | -38.2% |
| Plant, machinery and equipment | 23 | €3,142 | €1,985 | -€1,157 | -36.8% |
| Furniture and vehicles | 24 | €1,932 | €1,152 | -€780 | -40.4% |
| Current assets | 29/58 | €464,233 | €889,350 | +€425,116 | +91.6% |
| Amounts receivable within one year | 40/41 | €42,834 | €57,723 | +€14,889 | +34.8% |
| Trade receivables | 40 | €37,200 | €57,723 | +€20,523 | +55.2% |
| Other amounts receivable | 41 | €5,634 | - | -€5,634 | |
| Current investments | 50/53 | €284,594 | €489,464 | +€204,870 | +72.0% |
| Cash at bank and in hand | 54/58 | €135,554 | €342,162 | +€206,608 | +152.4% |
| Deferred charges and accrued income | 490/1 | €1,251 | - | -€1,251 | |
| Total equity and liabilities | 10/49 | €469,308 | €892,487 | +€423,179 | +90.2% |
| Equity | 10/15 | €447,211 | €598,393 | +€151,183 | +33.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €428,611 | €579,793 | +€151,183 | +35.3% |
| Distributable reserves | 133 | €428,611 | €579,793 | +€151,183 | +35.3% |
| Amounts payable | 17/49 | €22,097 | €294,094 | +€271,996 | +1230.9% |
| Amounts payable within one year | 42/48 | €22,097 | €294,094 | +€271,996 | +1230.9% |
| Trade debts | 44 | - | €382 | +€382 | |
| Suppliers | 440/4 | - | €382 | +€382 | |
| Taxes, remuneration and social security | 45 | €12,336 | €38,843 | +€26,507 | +214.9% |
| Taxes | 450/3 | €12,336 | €38,843 | +€26,507 | +214.9% |
| Other amounts payable | 47/48 | €9,761 | €254,868 | +€245,107 | +2511.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,840 | €1,937 | +€98 | +5.3% |
| Other operating charges | 640/8 | €766 | €839 | +€73 | +9.6% |
| Gross operating margin | 9900 | €137,990 | €215,992 | +€78,003 | +56.5% |
| Operating profit (loss) | 9901 | €135,384 | €213,216 | +€77,832 | +57.5% |
| Financial income | 75/76B | €2,609 | €19,613 | +€17,005 | +651.9% |
| Recurring financial income | 75 | €2,609 | €19,613 | +€17,005 | +651.9% |
| Financial charges | 65/66B | €779 | €9,897 | +€9,117 | +1169.8% |
| Recurring financial charges | 65 | €779 | €9,897 | +€9,117 | +1169.8% |
| Profit (loss) for the period before taxes | 9903 | €137,214 | €222,933 | +€85,719 | +62.5% |
| Income taxes | 67/77 | €43,659 | €71,750 | +€28,091 | +64.3% |
| Profit (loss) for the period | 9904 | €93,555 | €151,183 | +€57,628 | +61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,555 | €151,183 | +€57,628 | +61.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.