AKSUBOUW: 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.
AKSUBOUW
Largest movements
- Stocks and contracts +€509,216
up €509,216 (+45.3%), from €1.1m to €1.6m
- Tangible fixed assets -€42,433
down €42,433 (-10.6%), from €400,794 to €358,361
of which Furniture and vehicles: -€44,783
- Short-term financial debts +€666,462
up €666,462 (+62.3%), from €1.1m to €1.7m
- Trade debts -€63,228
down €63,228 (-48.0%), from €131,690 to €68,462
- Reserves -€55,279
no longer reported in 2025 (was €55,279)
- Debts after one year -€45,852
down €45,852 (-18.7%), from €245,273 to €199,421
- Gross operating margin +€192,020
up €192,020, from -€112,775 to €79,245
- Financial charges +€45,501
up €45,501 (+86.8%), from €52,394 to €97,895
- Depreciation +€23,280
up €23,280 (+76.9%), from €30,273 to €53,553
- Other operating charges -€8,440
down €8,440 (-54.6%), from €15,449 to €7,009
- Financial income -€4,850
down €4,850 (-59.7%), from €8,123 to €3,272
of which Non-recurring financial income: -€4,075
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 | €1,661,849 | €2,136,108 | +€474,260 | +28.5% |
| Fixed assets | 21/28 | €409,174 | €366,741 | -€42,433 | -10.4% |
| Tangible fixed assets | 22/27 | €400,794 | €358,361 | -€42,433 | -10.6% |
| Land and buildings | 22 | €193,739 | €197,776 | +€4,037 | +2.1% |
| Plant, machinery and equipment | 23 | €5,373 | €3,687 | -€1,686 | -31.4% |
| Furniture and vehicles | 24 | €201,681 | €156,898 | -€44,783 | -22.2% |
| Financial fixed assets | 28 | €8,380 | €8,380 | = | 0.0% |
| Current assets | 29/58 | €1,252,675 | €1,769,367 | +€516,693 | +41.2% |
| Stocks and contracts in progress | 3 | €1,123,638 | €1,632,854 | +€509,216 | +45.3% |
| Stocks | 30/36 | €1,123,638 | €1,632,854 | +€509,216 | +45.3% |
| Amounts receivable within one year | 40/41 | €119,114 | €118,620 | -€493 | -0.4% |
| Trade receivables | 40 | €71,625 | €40,226 | -€31,399 | -43.8% |
| Other amounts receivable | 41 | €47,488 | €78,394 | +€30,906 | +65.1% |
| Cash at bank and in hand | 54/58 | €3,209 | €16,910 | +€13,701 | +427% |
| Deferred charges and accrued income | 490/1 | €6,714 | €983 | -€5,731 | -85.4% |
| Total equity and liabilities | 10/49 | €1,661,849 | €2,136,108 | +€474,260 | +28.5% |
| Equity | 10/15 | €67,279 | -€9,221 | -€76,500 | |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €55,279 | - | -€55,279 | |
| Distributable reserves | 133 | €55,279 | - | -€55,279 | |
| Profit (loss) carried forward | 14 | - | -€21,221 | -€21,221 | |
| Amounts payable | 17/49 | €1,594,569 | €2,145,329 | +€550,760 | +34.5% |
| Amounts payable after more than one year | 17 | €245,273 | €199,421 | -€45,852 | -18.7% |
| Financial debts | 170/4 | €245,273 | €199,421 | -€45,852 | -18.7% |
| Amounts payable within one year | 42/48 | €1,337,872 | €1,929,756 | +€591,885 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €43,758 | €45,852 | +€2,094 | +4.8% |
| Financial debts | 43 | €1,070,000 | €1,736,462 | +€666,462 | +62.3% |
| Credit institutions | 430/8 | €1,070,000 | €1,736,462 | +€666,462 | +62.3% |
| Trade debts | 44 | €131,690 | €68,462 | -€63,228 | -48.0% |
| Suppliers | 440/4 | €131,690 | €68,462 | -€63,228 | -48.0% |
| Taxes, remuneration and social security | 45 | €20,056 | €10,577 | -€9,479 | -47.3% |
| Taxes | 450/3 | €20,056 | €10,577 | -€9,479 | -47.3% |
| Other amounts payable | 47/48 | €72,367 | €68,403 | -€3,964 | -5.5% |
| Accrued charges and deferred income | 492/3 | €11,424 | €16,152 | +€4,727 | +41.4% |
| Non-recurring operating income | 76A | €8,264 | - | -€8,264 | |
| Remuneration, social security and pensions | 62 | -€982 | - | +€982 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,273 | €53,553 | +€23,280 | +76.9% |
| Other operating charges | 640/8 | €15,449 | €7,009 | -€8,440 | -54.6% |
| Non-recurring operating charges | 66A | €691 | - | -€691 | |
| Gross operating margin | 9900 | -€112,775 | €79,245 | +€192,020 | |
| Operating profit (loss) | 9901 | -€158,206 | €18,682 | +€176,889 | |
| Financial income | 75/76B | €8,123 | €3,272 | -€4,850 | -59.7% |
| Recurring financial income | 75 | €4,048 | €3,272 | -€776 | -19.2% |
| Non-recurring financial income | 76B | €4,075 | - | -€4,075 | |
| Financial charges | 65/66B | €52,394 | €97,895 | +€45,501 | +86.8% |
| Recurring financial charges | 65 | €52,394 | €97,895 | +€45,501 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | -€202,478 | -€75,940 | +€126,538 | +62.5% |
| Income taxes | 67/77 | €379 | €559 | +€180 | +47.4% |
| Profit (loss) for the period | 9904 | -€202,857 | -€76,500 | +€126,358 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€202,857 | -€76,500 | +€126,358 | +62.3% |
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 27 October 2026 via checked.be.