AKBEL: 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.
AKBEL
Largest movements
- Cash -€81,453
down €81,453 (-37.8%), from €215,323 to €133,870
mainly Short-term financial debts (-€95,766) and Tax, wage and social debts (-€68,445)
- Stocks and contracts +€60,000
up €60,000 (+7.5%), from €795,000 to €855,000
- Receivables within one year +€51,735
up €51,735 (+36.4%), from €142,303 to €194,039
of which Trade receivables: +€71,586
- Tangible fixed assets -€19,786
down €19,786 (-16.8%), from €118,067 to €98,281
of which Furniture and vehicles: -€28,065
- Trade debts +€173,212
up €173,212 (+52.4%), from €330,430 to €503,641
- Short-term financial debts -€95,766
down €95,766 (-90.5%), from €105,766 to €10,000
- Tax, wage and social debts -€68,445
down €68,445 (-45.8%), from €149,314 to €80,868
of which Taxes: -€80,264
- Other debts -€25,460
down €25,460 (-6.3%), from €402,041 to €376,581
- Profit (loss) carried forward +€24,942
up €24,942 (+16.0%), from €155,411 to €180,352
- Staff costs +€15,468
up €15,468 (+13.3%), from €116,285 to €131,753
- Depreciation +€5,635
up €5,635 (+18.7%), from €30,202 to €35,838
- Financial charges -€5,602
down €5,602 (-26.4%), from €21,219 to €15,618
- Taxes -€4,487
down €4,487 (-23.0%), from €19,468 to €14,981
- Other operating charges -€3,910
down €3,910 (-33.4%), from €11,695 to €7,785
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 | €1,277,669 | €1,288,226 | +€10,556 | +0.8% |
| Fixed assets | 21/28 | €118,067 | €98,281 | -€19,786 | -16.8% |
| Tangible fixed assets | 22/27 | €118,067 | €98,281 | -€19,786 | -16.8% |
| Plant, machinery and equipment | 23 | €13,834 | €6,024 | -€7,810 | -56.5% |
| Furniture and vehicles | 24 | €94,186 | €66,121 | -€28,065 | -29.8% |
| Leasing and similar rights | 25 | - | €14,385 | +€14,385 | |
| Other tangible fixed assets | 26 | €10,047 | €11,751 | +€1,704 | +17.0% |
| Current assets | 29/58 | €1,159,602 | €1,189,945 | +€30,343 | +2.6% |
| Stocks and contracts in progress | 3 | €795,000 | €855,000 | +€60,000 | +7.5% |
| Stocks | 30/36 | €795,000 | €855,000 | +€60,000 | +7.5% |
| Amounts receivable within one year | 40/41 | €142,303 | €194,039 | +€51,735 | +36.4% |
| Trade receivables | 40 | €122,453 | €194,039 | +€71,586 | +58.5% |
| Other amounts receivable | 41 | €19,850 | - | -€19,850 | |
| Cash at bank and in hand | 54/58 | €215,323 | €133,870 | -€81,453 | -37.8% |
| Deferred charges and accrued income | 490/1 | €6,975 | €7,036 | +€61 | +0.9% |
| Total equity and liabilities | 10/49 | €1,277,669 | €1,288,226 | +€10,556 | +0.8% |
| Equity | 10/15 | €242,669 | €267,611 | +€24,942 | +10.3% |
| Contributions | 10/11 | €79,326 | €79,326 | = | 0.0% |
| Capital | 10 | €79,326 | €79,326 | = | 0.0% |
| Issued capital | 100 | €79,326 | €79,326 | = | 0.0% |
| Reserves | 13 | €7,933 | €7,933 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,933 | €7,933 | = | 0.0% |
| Legal reserve | 130 | €7,933 | €7,933 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,411 | €180,352 | +€24,942 | +16.0% |
| Amounts payable | 17/49 | €1,035,000 | €1,020,615 | -€14,386 | -1.4% |
| Amounts payable after more than one year | 17 | €27,337 | €17,488 | -€9,849 | -36.0% |
| Financial debts | 170/4 | €27,337 | €17,488 | -€9,849 | -36.0% |
| Amounts payable within one year | 42/48 | €1,007,664 | €1,003,127 | -€4,536 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €20,114 | €24,364 | +€4,250 | +21.1% |
| Financial debts | 43 | €105,766 | €10,000 | -€95,766 | -90.5% |
| Credit institutions | 430/8 | €105,766 | €10,000 | -€95,766 | -90.5% |
| Trade debts | 44 | €330,430 | €503,641 | +€173,212 | +52.4% |
| Suppliers | 440/4 | €330,430 | €503,641 | +€173,212 | +52.4% |
| Advances received on contracts in progress | 46 | - | €7,673 | +€7,673 | |
| Taxes, remuneration and social security | 45 | €149,314 | €80,868 | -€68,445 | -45.8% |
| Taxes | 450/3 | €122,034 | €41,770 | -€80,264 | -65.8% |
| Remuneration and social security | 454/9 | €27,280 | €39,098 | +€11,818 | +43.3% |
| Other amounts payable | 47/48 | €402,041 | €376,581 | -€25,460 | -6.3% |
| Remuneration, social security and pensions | 62 | €116,285 | €131,753 | +€15,468 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,202 | €35,838 | +€5,635 | +18.7% |
| Other operating charges | 640/8 | €11,695 | €7,785 | -€3,910 | -33.4% |
| Gross operating margin | 9900 | €228,589 | €229,145 | +€555 | +0.2% |
| Operating profit (loss) | 9901 | €70,407 | €53,769 | -€16,638 | -23.6% |
| Financial income | 75/76B | €2,138 | €1,772 | -€366 | -17.1% |
| Recurring financial income | 75 | €2,138 | €1,772 | -€366 | -17.1% |
| Financial charges | 65/66B | €21,219 | €15,618 | -€5,602 | -26.4% |
| Recurring financial charges | 65 | €21,219 | €15,618 | -€5,602 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €51,326 | €39,923 | -€11,403 | -22.2% |
| Income taxes | 67/77 | €19,468 | €14,981 | -€4,487 | -23.0% |
| Profit (loss) for the period | 9904 | €31,858 | €24,942 | -€6,916 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,858 | €24,942 | -€6,916 | -21.7% |
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 28 October 2026 via checked.be.