Anckaert: 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.
Anckaert
Largest movements
- Receivables within one year +€132,966
up €132,966 (+147%), from €90,227 to €223,193
of which Trade receivables: +€111,754
- Cash +€94,791
up €94,791 (+59.4%), from €159,480 to €254,271
mainly Trade debts (+€158,789) and Depreciation (+€82,067)
- Deferred charges and accrued income +€8,201
up €8,201, from €0 to €8,201
- Trade debts +€158,789
up €158,789 (+1,159%), from €13,697 to €172,486
- Reserves +€79,782
up €79,782 (+22.0%), from €362,127 to €441,909
of which Distributable reserves: +€83,622
- Debts after one year -€9,178
down €9,178 (-100%), from €9,178 to €0
- Gross operating margin +€73,315
up €73,315 (+58.9%), from €124,416 to €197,732
- Taxes +€20,555
up €20,555 (+141%), from €14,530 to €35,086
- Depreciation +€4,795
up €4,795 (+6.2%), from €77,273 to €82,067
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 | €447,932 | €677,321 | +€229,389 | +51.2% |
| Fixed assets | 21/28 | €184,645 | €181,117 | -€3,528 | -1.9% |
| Tangible fixed assets | 22/27 | €184,645 | €181,117 | -€3,528 | -1.9% |
| Land and buildings | 22 | €12,398 | €7,141 | -€5,257 | -42.4% |
| Plant, machinery and equipment | 23 | €137,827 | €100,149 | -€37,679 | -27.3% |
| Furniture and vehicles | 24 | €34,419 | €73,827 | +€39,408 | +114% |
| Current assets | 29/58 | €263,286 | €496,204 | +€232,917 | +88.5% |
| Stocks and contracts in progress | 3 | €13,579 | €10,538 | -€3,041 | -22.4% |
| Stocks | 30/36 | €13,579 | €10,538 | -€3,041 | -22.4% |
| Amounts receivable within one year | 40/41 | €90,227 | €223,193 | +€132,966 | +147% |
| Trade receivables | 40 | €90,101 | €201,855 | +€111,754 | +124% |
| Other amounts receivable | 41 | €126 | €21,338 | +€21,212 | +16,792% |
| Cash at bank and in hand | 54/58 | €159,480 | €254,271 | +€94,791 | +59.4% |
| Deferred charges and accrued income | 490/1 | €0 | €8,201 | +€8,201 | |
| Total equity and liabilities | 10/49 | €447,932 | €677,321 | +€229,389 | +51.2% |
| Equity | 10/15 | €368,324 | €448,106 | +€79,782 | +21.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €362,127 | €441,909 | +€79,782 | +22.0% |
| Tax-exempt reserves | 132 | €54,396 | €50,556 | -€3,840 | -7.1% |
| Distributable reserves | 133 | €307,730 | €391,353 | +€83,622 | +27.2% |
| Provisions and deferred taxes | 16 | €1,599 | €639 | -€960 | -60.0% |
| Deferred taxes | 168 | €1,599 | €639 | -€960 | -60.0% |
| Amounts payable | 17/49 | €78,009 | €228,575 | +€150,567 | +193% |
| Amounts payable after more than one year | 17 | €9,178 | €0 | -€9,178 | -100% |
| Financial debts | 170/4 | €9,178 | €0 | -€9,178 | -100% |
| Amounts payable within one year | 42/48 | €66,830 | €228,221 | +€161,391 | +241% |
| Current portion of amounts payable after more than one year | 42 | €12,139 | €9,178 | -€2,961 | -24.4% |
| Trade debts | 44 | €13,697 | €172,486 | +€158,789 | +1,159% |
| Suppliers | 440/4 | €13,697 | €172,486 | +€158,789 | +1,159% |
| Taxes, remuneration and social security | 45 | €35,591 | €37,659 | +€2,068 | +5.8% |
| Taxes | 450/3 | €33,566 | €35,559 | +€1,993 | +5.9% |
| Remuneration and social security | 454/9 | €2,025 | €2,100 | +€75 | +3.7% |
| Other amounts payable | 47/48 | €5,403 | €8,898 | +€3,495 | +64.7% |
| Accrued charges and deferred income | 492/3 | €2,001 | €354 | -€1,647 | -82.3% |
| Non-recurring operating income | 76A | €0 | €6,504 | +€6,504 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,273 | €82,067 | +€4,795 | +6.2% |
| Other operating charges | 640/8 | €2,785 | €3,026 | +€241 | +8.7% |
| Gross operating margin | 9900 | €124,416 | €197,732 | +€73,315 | +58.9% |
| Operating profit (loss) | 9901 | €44,359 | €112,638 | +€68,280 | +154% |
| Financial income | 75/76B | €1,836 | €2,257 | +€421 | +22.9% |
| Recurring financial income | 75 | €1,836 | €2,257 | +€421 | +22.9% |
| Financial charges | 65/66B | €1,009 | €987 | -€21 | -2.1% |
| Recurring financial charges | 65 | €1,009 | €987 | -€21 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €45,186 | €113,908 | +€68,722 | +152% |
| Transfer from deferred taxes | 780 | €960 | €960 | = | 0.0% |
| Income taxes | 67/77 | €14,530 | €35,086 | +€20,555 | +141% |
| Profit (loss) for the period | 9904 | €31,615 | €79,782 | +€48,167 | +152% |
| Transfer from tax-exempt reserves | 789 | €3,840 | €3,840 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,455 | €83,622 | +€48,167 | +136% |
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 13 October 2026 via checked.be.