Carlo Van Acker: what changed
Two fiscal 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.
Carlo Van Acker
Largest movements
- Tangible fixed assets -€4,988
down €4,988 (-5.7%), from €87,185 to €82,197
of which Plant, machinery and equipment: -€2,837
- Receivables within one year +€3,027
up €3,027 (+6.0%), from €50,398 to €53,425
of which Other amounts receivable: +€4,916
- Short-term financial debts +€13,957
up €13,957 (+52.9%), from €26,365 to €40,322
- Profit (loss) carried forward -€6,492
down €6,492 (-8.5%), from €76,293 to €69,801
- Current portion of long-term debt -€3,467
down €3,467 (-57.8%), from €6,003 to €2,536
- Other debts -€3,051
down €3,051 (-23.4%), from €13,051 to €10,000
- Gross operating margin +€14,171
up €14,171 (+94.6%), from -€14,979 to -€808
- Other operating charges -€381
down €381 (-33.5%), from €1,135 to €755
- Depreciation -€329
down €329 (-9.2%), from €3,584 to €3,255
- Taxes -€152
down €152 (-100.0%), from €152 to €0
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 | €267,420 | €264,554 | -€2,866 | -1.1% |
| Fixed assets | 21/28 | €88,485 | €83,497 | -€4,988 | -5.6% |
| Tangible fixed assets | 22/27 | €87,185 | €82,197 | -€4,988 | -5.7% |
| Land and buildings | 22 | €73,904 | €71,753 | -€2,151 | -2.9% |
| Plant, machinery and equipment | 23 | €8,281 | €5,443 | -€2,837 | -34.3% |
| Furniture and vehicles | 24 | €5,000 | €5,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €178,935 | €181,057 | +€2,122 | +1.2% |
| Amounts receivable after more than one year | 29 | €118,000 | €118,000 | = | 0.0% |
| Other amounts receivable | 291 | €118,000 | €118,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,398 | €53,425 | +€3,027 | +6.0% |
| Trade receivables | 40 | €9,148 | €7,259 | -€1,889 | -20.6% |
| Other amounts receivable | 41 | €41,250 | €46,167 | +€4,916 | +11.9% |
| Cash at bank and in hand | 54/58 | €1,781 | €347 | -€1,434 | -80.5% |
| Deferred charges and accrued income | 490/1 | €8,756 | €9,285 | +€528 | +6.0% |
| Total equity and liabilities | 10/49 | €267,420 | €264,554 | -€2,866 | -1.1% |
| Equity | 10/15 | €208,543 | €202,051 | -€6,492 | -3.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €119,750 | €119,750 | = | 0.0% |
| Distributable reserves | 133 | €119,750 | €119,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,293 | €69,801 | -€6,492 | -8.5% |
| Amounts payable | 17/49 | €58,876 | €62,503 | +€3,626 | +6.2% |
| Amounts payable after more than one year | 17 | €2,536 | €0 | -€2,536 | -100.0% |
| Financial debts | 170/4 | €2,536 | €0 | -€2,536 | -100.0% |
| Amounts payable within one year | 42/48 | €56,340 | €62,503 | +€6,162 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €6,003 | €2,536 | -€3,467 | -57.8% |
| Financial debts | 43 | €26,365 | €40,322 | +€13,957 | +52.9% |
| Credit institutions | 430/8 | €26,365 | €40,322 | +€13,957 | +52.9% |
| Trade debts | 44 | €4,779 | €4,093 | -€686 | -14.4% |
| Suppliers | 440/4 | €4,779 | €4,093 | -€686 | -14.4% |
| Taxes, remuneration and social security | 45 | €6,143 | €5,552 | -€591 | -9.6% |
| Taxes | 450/3 | €6,143 | €5,552 | -€591 | -9.6% |
| Other amounts payable | 47/48 | €13,051 | €10,000 | -€3,051 | -23.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,584 | €3,255 | -€329 | -9.2% |
| Other operating charges | 640/8 | €1,135 | €755 | -€381 | -33.5% |
| Non-recurring operating charges | 66A | - | €1,733 | +€1,733 | |
| Gross operating margin | 9900 | -€14,979 | -€808 | +€14,171 | +94.6% |
| Operating profit (loss) | 9901 | -€19,698 | -€6,550 | +€13,148 | +66.7% |
| Financial income | 75/76B | €5,588 | €5,493 | -€95 | -1.7% |
| Recurring financial income | 75 | €5,588 | €5,493 | -€95 | -1.7% |
| Financial charges | 65/66B | €5,396 | €5,435 | +€39 | +0.7% |
| Recurring financial charges | 65 | €5,396 | €5,435 | +€39 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,506 | -€6,492 | +€13,014 | +66.7% |
| Income taxes | 67/77 | €152 | €0 | -€152 | -100.0% |
| Profit (loss) for the period | 9904 | -€19,659 | -€6,492 | +€13,166 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,659 | -€6,492 | +€13,166 | +67.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.