ACTE VIII: 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.
ACTE VIII
Largest movements
- Cash +€244,721
up €244,721 (+81,492%), from €300 to €245,021
mainly Investment in fixed assets (net) (+€89,062) and Other debts (+€73,230)
- Tangible fixed assets -€100,902
down €100,902 (-9.5%), from €1.1m to €965,640
of which Land and buildings: -€106,591
- Other debts +€73,230
up €73,230 (+10.3%), from €707,743 to €780,972
- Profit (loss) carried forward +€66,768
up €66,768, from -€57,029 to €9,739
- Gross operating margin +€107,651
up €107,651, from -€7,572 to €100,080
- Financial charges +€17,519
up €17,519 (+449%), from €3,903 to €21,421
- Financial income -€3,195
no longer reported in 2025 (was €3,195)
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 | €1,070,714 | €1,210,712 | +€139,998 | +13.1% |
| Fixed assets | 21/28 | €1,066,592 | €965,690 | -€100,902 | -9.5% |
| Tangible fixed assets | 22/27 | €1,066,542 | €965,640 | -€100,902 | -9.5% |
| Land and buildings | 22 | €1,066,542 | €959,951 | -€106,591 | -10.0% |
| Plant, machinery and equipment | 23 | - | €5,689 | +€5,689 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €4,122 | €245,021 | +€240,900 | +5,845% |
| Amounts receivable within one year | 40/41 | €3,821 | - | -€3,821 | |
| Other amounts receivable | 41 | €3,821 | - | -€3,821 | |
| Cash at bank and in hand | 54/58 | €300 | €245,021 | +€244,721 | +81,492% |
| Total equity and liabilities | 10/49 | €1,070,714 | €1,210,712 | +€139,998 | +13.1% |
| Equity | 10/15 | €362,971 | €429,739 | +€66,768 | +18.4% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,029 | €9,739 | +€66,768 | |
| Amounts payable | 17/49 | €707,743 | €780,972 | +€73,230 | +10.3% |
| Amounts payable within one year | 42/48 | €707,743 | €780,972 | +€73,230 | +10.3% |
| Other amounts payable | 47/48 | €707,743 | €780,972 | +€73,230 | +10.3% |
| Non-recurring operating income | 76A | - | €153,770 | +€153,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,040 | €11,840 | +€800 | +7.2% |
| Other operating charges | 640/8 | €448 | €50 | -€398 | -88.8% |
| Gross operating margin | 9900 | -€7,572 | €100,080 | +€107,651 | |
| Operating profit (loss) | 9901 | -€19,060 | €88,190 | +€107,249 | |
| Financial income | 75/76B | €3,195 | - | -€3,195 | |
| Recurring financial income | 75 | €3,195 | - | -€3,195 | |
| Financial charges | 65/66B | €3,903 | €21,421 | +€17,519 | +449% |
| Recurring financial charges | 65 | €3,903 | €21,421 | +€17,519 | +449% |
| Profit (loss) for the period before taxes | 9903 | -€19,767 | €66,768 | +€86,535 | |
| Profit (loss) for the period | 9904 | -€19,767 | €66,768 | +€86,535 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,767 | €66,768 | +€86,535 |
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 17 October 2026 via checked.be.