B-ACE: 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.
B-ACE
Largest movements
- Current investments +€22,961
new in 2025: €22,961
- Cash -€18,256
down €18,256 (-10.2%), from €179,818 to €161,562
mainly Contributions, distributions and other (-€43,071) and Tax, wage and social debts (-€25,532)
- Receivables within one year -€8,129
down €8,129 (-30.4%), from €26,722 to €18,593
of which Other amounts receivable: -€9,363
- Tax, wage and social debts -€25,532
down €25,532 (-80.5%), from €31,722 to €6,190
- Reserves +€12,490
up €12,490 (+9.2%), from €135,810 to €148,300
- Other debts +€11,456
up €11,456 (+41.4%), from €27,652 to €39,108
- Trade debts -€3,889
no longer reported in 2025 (was €3,889)
- Gross operating margin -€28,851
down €28,851 (-26.8%), from €107,462 to €78,611
- Taxes -€8,649
down €8,649 (-30.4%), from €28,463 to €19,814
- Other operating charges +€1,464
up €1,464 (+136%), from €1,079 to €2,543
- Financial income +€1,354
up €1,354 (+891%), from €152 to €1,506
- Financial charges +€1,139
up €1,139 (+703%), from €162 to €1,301
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 | €217,673 | €212,198 | -€5,475 | -2.5% |
| Fixed assets | 21/28 | €3,420 | €2,521 | -€899 | -26.3% |
| Tangible fixed assets | 22/27 | €3,420 | €2,521 | -€899 | -26.3% |
| Plant, machinery and equipment | 23 | - | €787 | +€787 | |
| Furniture and vehicles | 24 | €3,420 | €1,734 | -€1,686 | -49.3% |
| Current assets | 29/58 | €214,253 | €209,677 | -€4,576 | -2.1% |
| Amounts receivable within one year | 40/41 | €26,722 | €18,593 | -€8,129 | -30.4% |
| Trade receivables | 40 | €16,722 | €17,956 | +€1,234 | +7.4% |
| Other amounts receivable | 41 | €10,000 | €637 | -€9,363 | -93.6% |
| Current investments | 50/53 | - | €22,961 | +€22,961 | |
| Cash at bank and in hand | 54/58 | €179,818 | €161,562 | -€18,256 | -10.2% |
| Deferred charges and accrued income | 490/1 | €7,713 | €6,561 | -€1,152 | -14.9% |
| Total equity and liabilities | 10/49 | €217,673 | €212,198 | -€5,475 | -2.5% |
| Equity | 10/15 | €154,410 | €166,900 | +€12,490 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,810 | €148,300 | +€12,490 | +9.2% |
| Distributable reserves | 133 | €135,810 | €148,300 | +€12,490 | +9.2% |
| Amounts payable | 17/49 | €63,263 | €45,298 | -€17,965 | -28.4% |
| Amounts payable within one year | 42/48 | €63,263 | €45,298 | -€17,965 | -28.4% |
| Trade debts | 44 | €3,889 | - | -€3,889 | |
| Suppliers | 440/4 | €3,889 | - | -€3,889 | |
| Taxes, remuneration and social security | 45 | €31,722 | €6,190 | -€25,532 | -80.5% |
| Taxes | 450/3 | €31,722 | €6,190 | -€25,532 | -80.5% |
| Other amounts payable | 47/48 | €27,652 | €39,108 | +€11,456 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €464 | €898 | +€434 | +93.5% |
| Other operating charges | 640/8 | €1,079 | €2,543 | +€1,464 | +136% |
| Gross operating margin | 9900 | €107,462 | €78,611 | -€28,851 | -26.8% |
| Operating profit (loss) | 9901 | €105,919 | €75,170 | -€30,749 | -29.0% |
| Financial income | 75/76B | €152 | €1,506 | +€1,354 | +891% |
| Recurring financial income | 75 | €152 | €1,506 | +€1,354 | +891% |
| Financial charges | 65/66B | €162 | €1,301 | +€1,139 | +703% |
| Recurring financial charges | 65 | €162 | €1,301 | +€1,139 | +703% |
| Profit (loss) for the period before taxes | 9903 | €105,909 | €75,375 | -€30,534 | -28.8% |
| Income taxes | 67/77 | €28,463 | €19,814 | -€8,649 | -30.4% |
| Profit (loss) for the period | 9904 | €77,446 | €55,561 | -€21,885 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,446 | €55,561 | -€21,885 | -28.3% |
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 14 October 2026 via checked.be.