Actares: 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.
Actares
Largest movements
- Receivables within one year +€33,599
up €33,599 (+301%), from €11,162 to €44,761
of which Trade receivables: +€30,032
- Tangible fixed assets +€7,632
up €7,632 (+175%), from €4,363 to €11,995
of which Furniture and vehicles: +€8,972
- Cash -€5,439
down €5,439 (-2.9%), from €187,456 to €182,017
mainly Contributions, distributions and other (-€150,000) and Receivables within one year (-€33,599)
- Other debts +€135,142
up €135,142 (+2,920%), from €4,628 to €139,770
- Profit (loss) carried forward -€101,117
down €101,117 (-76.7%), from €131,861 to €30,744
- Advances received -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts +€27,680
up €27,680 (+354%), from €7,822 to €35,502
of which Taxes: +€27,571
- Gross operating margin -€10,140
down €10,140 (-14.4%), from €70,426 to €60,286
- Taxes -€9,252
down €9,252 (-61.4%), from €15,074 to €5,822
- Depreciation +€2,928
up €2,928 (+175%), from €1,672 to €4,600
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 | €212,640 | €246,627 | +€33,987 | +16.0% |
| Fixed assets | 21/28 | €12,217 | €19,849 | +€7,632 | +62.5% |
| Tangible fixed assets | 22/27 | €4,363 | €11,995 | +€7,632 | +175% |
| Furniture and vehicles | 24 | €1,496 | €10,468 | +€8,972 | +600% |
| Other tangible fixed assets | 26 | €2,867 | €1,527 | -€1,340 | -46.7% |
| Financial fixed assets | 28 | €7,854 | €7,854 | = | 0.0% |
| Current assets | 29/58 | €200,423 | €226,778 | +€26,355 | +13.1% |
| Amounts receivable within one year | 40/41 | €11,162 | €44,761 | +€33,599 | +301% |
| Trade receivables | 40 | €10,285 | €40,317 | +€30,032 | +292% |
| Other amounts receivable | 41 | €877 | €4,444 | +€3,567 | +407% |
| Cash at bank and in hand | 54/58 | €187,456 | €182,017 | -€5,439 | -2.9% |
| Deferred charges and accrued income | 490/1 | €1,805 | - | -€1,805 | |
| Total equity and liabilities | 10/49 | €212,640 | €246,627 | +€33,987 | +16.0% |
| Equity | 10/15 | €162,321 | €61,204 | -€101,117 | -62.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,861 | €30,744 | -€101,117 | -76.7% |
| Amounts payable | 17/49 | €50,319 | €185,423 | +€135,104 | +268% |
| Amounts payable within one year | 42/48 | €50,319 | €185,423 | +€135,104 | +268% |
| Trade debts | 44 | €7,869 | €10,151 | +€2,282 | +29.0% |
| Suppliers | 440/4 | €7,869 | €10,151 | +€2,282 | +29.0% |
| Advances received on contracts in progress | 46 | €30,000 | - | -€30,000 | |
| Taxes, remuneration and social security | 45 | €7,822 | €35,502 | +€27,680 | +354% |
| Taxes | 450/3 | €4,678 | €32,249 | +€27,571 | +589% |
| Remuneration and social security | 454/9 | €3,144 | €3,253 | +€109 | +3.5% |
| Other amounts payable | 47/48 | €4,628 | €139,770 | +€135,142 | +2,920% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,672 | €4,600 | +€2,928 | +175% |
| Other operating charges | 640/8 | €872 | €575 | -€297 | -34.1% |
| Gross operating margin | 9900 | €70,426 | €60,286 | -€10,140 | -14.4% |
| Operating profit (loss) | 9901 | €67,882 | €55,111 | -€12,771 | -18.8% |
| Financial charges | 65/66B | €92 | €406 | +€314 | +341% |
| Recurring financial charges | 65 | €92 | €406 | +€314 | +341% |
| Profit (loss) for the period before taxes | 9903 | €67,790 | €54,705 | -€13,085 | -19.3% |
| Income taxes | 67/77 | €15,074 | €5,822 | -€9,252 | -61.4% |
| Profit (loss) for the period | 9904 | €52,716 | €48,883 | -€3,833 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,716 | €48,883 | -€3,833 | -7.3% |
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.