ACVR MANAGEMENT: 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.
ACVR MANAGEMENT
Largest movements
- Receivables within one year +€35,799
up €35,799 (+142.9%), from €25,053 to €60,852
of which Trade receivables: +€21,689
- Cash -€21,396
down €21,396 (-40.4%), from €52,959 to €31,563
mainly Receivables within one year (-€35,799) and Contributions, distributions and other (-€18,701)
- Trade debts +€4,250
up €4,250 (+159.0%), from €2,673 to €6,923
- Other debts +€4,244
up €4,244 (+8.1%), from €52,518 to €56,761
- Accrued charges and deferred income +€3,644
up €3,644 (+848.8%), from €429 to €4,074
- Tax, wage and social debts +€1,513
up €1,513 (+10.3%), from €14,724 to €16,237
of which Taxes: +€1,513
- Financial charges +€42,510
up €42,510 (+62671.2%), from €68 to €42,578
- Taxes -€8,275
down €8,275 (-61.2%), from €13,525 to €5,250
- Gross operating margin +€818
up €818 (+1.2%), from €66,237 to €67,054
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 | €90,804 | €104,455 | +€13,651 | +15.0% |
| Fixed assets | 21/28 | €12,420 | €11,697 | -€723 | -5.8% |
| Tangible fixed assets | 22/27 | €2,251 | €1,529 | -€723 | -32.1% |
| Plant, machinery and equipment | 23 | €288 | €82 | -€206 | -71.6% |
| Furniture and vehicles | 24 | €1,963 | €1,447 | -€517 | -26.3% |
| Financial fixed assets | 28 | €10,169 | €10,169 | = | 0.0% |
| Current assets | 29/58 | €78,384 | €92,758 | +€14,374 | +18.3% |
| Amounts receivable within one year | 40/41 | €25,053 | €60,852 | +€35,799 | +142.9% |
| Trade receivables | 40 | €4,207 | €25,896 | +€21,689 | +515.5% |
| Other amounts receivable | 41 | €20,845 | €34,955 | +€14,110 | +67.7% |
| Cash at bank and in hand | 54/58 | €52,959 | €31,563 | -€21,396 | -40.4% |
| Deferred charges and accrued income | 490/1 | €372 | €343 | -€29 | -7.8% |
| Total equity and liabilities | 10/49 | €90,804 | €104,455 | +€13,651 | +15.0% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,344 | €83,995 | +€13,651 | +19.4% |
| Amounts payable within one year | 42/48 | €69,915 | €79,922 | +€10,007 | +14.3% |
| Trade debts | 44 | €2,673 | €6,923 | +€4,250 | +159.0% |
| Suppliers | 440/4 | €2,673 | €6,923 | +€4,250 | +159.0% |
| Taxes, remuneration and social security | 45 | €14,724 | €16,237 | +€1,513 | +10.3% |
| Taxes | 450/3 | €10,724 | €12,237 | +€1,513 | +14.1% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €52,518 | €56,761 | +€4,244 | +8.1% |
| Accrued charges and deferred income | 492/3 | €429 | €4,074 | +€3,644 | +848.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €419 | €723 | +€304 | +72.6% |
| Gross operating margin | 9900 | €66,237 | €67,054 | +€818 | +1.2% |
| Operating profit (loss) | 9901 | €65,818 | €66,332 | +€513 | +0.8% |
| Financial income | 75/76B | €292 | €197 | -€95 | -32.6% |
| Recurring financial income | 75 | €292 | €197 | -€95 | -32.6% |
| Financial charges | 65/66B | €68 | €42,578 | +€42,510 | +62671.2% |
| Recurring financial charges | 65 | €68 | €42,578 | +€42,510 | +62671.2% |
| Profit (loss) for the period before taxes | 9903 | €66,042 | €23,951 | -€42,092 | -63.7% |
| Income taxes | 67/77 | €13,525 | €5,250 | -€8,275 | -61.2% |
| Profit (loss) for the period | 9904 | €52,518 | €18,701 | -€33,817 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,518 | €18,701 | -€33,817 | -64.4% |
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 11 October 2026 via checked.be.