FABIENNE ACKERMANS: 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.
FABIENNE ACKERMANS
Largest movements
- Current investments +€148,526
up €148,526 (+12.2%), from €1.2m to €1.4m
- Cash +€104,751
up €104,751 (+88.5%), from €118,340 to €223,091
mainly Net result for the year (+€220,278) and Receivables within one year (+€22,148)
- Receivables within one year -€22,148
down €22,148 (-89.1%), from €24,870 to €2,722
of which Other amounts receivable: -€19,148
- Reserves +€220,000
up €220,000 (+20.3%), from €1.1m to €1.3m
- Financial income +€109,328
up €109,328 (+402.8%), from €27,144 to €136,472
- Gross operating margin +€61,413
up €61,413 (+46.5%), from €132,118 to €193,531
- Taxes +€29,193
up €29,193 (+78.1%), from €37,367 to €66,559
- Financial charges +€8,110
up €8,110 (+52.4%), from €15,475 to €23,585
- Depreciation +€2,304
up €2,304 (+17.0%), from €13,544 to €15,848
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 | €1,419,755 | €1,650,008 | +€230,253 | +16.2% |
| Fixed assets | 21/28 | €51,196 | €53,264 | +€2,068 | +4.0% |
| Tangible fixed assets | 22/27 | €48,796 | €50,864 | +€2,068 | +4.2% |
| Land and buildings | 22 | €30,141 | €24,837 | -€5,305 | -17.6% |
| Plant, machinery and equipment | 23 | €16,001 | €8,966 | -€7,035 | -44.0% |
| Furniture and vehicles | 24 | €2,654 | €17,061 | +€14,407 | +542.8% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €1,368,559 | €1,596,744 | +€228,185 | +16.7% |
| Amounts receivable within one year | 40/41 | €24,870 | €2,722 | -€22,148 | -89.1% |
| Trade receivables | 40 | €4,097 | €1,097 | -€3,000 | -73.2% |
| Other amounts receivable | 41 | €20,773 | €1,625 | -€19,148 | -92.2% |
| Current investments | 50/53 | €1,220,836 | €1,369,361 | +€148,526 | +12.2% |
| Cash at bank and in hand | 54/58 | €118,340 | €223,091 | +€104,751 | +88.5% |
| Deferred charges and accrued income | 490/1 | €4,513 | €1,569 | -€2,944 | -65.2% |
| Total equity and liabilities | 10/49 | €1,419,755 | €1,650,008 | +€230,253 | +16.2% |
| Equity | 10/15 | €1,103,563 | €1,323,841 | +€220,278 | +20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,084,958 | €1,304,958 | +€220,000 | +20.3% |
| Distributable reserves | 133 | €1,084,958 | €1,304,958 | +€220,000 | +20.3% |
| Profit (loss) carried forward | 14 | €5 | €283 | +€278 | +5491.7% |
| Amounts payable | 17/49 | €316,192 | €326,167 | +€9,975 | +3.2% |
| Amounts payable within one year | 42/48 | €302,308 | €304,141 | +€1,833 | +0.6% |
| Trade debts | 44 | €6,967 | €5,236 | -€1,732 | -24.9% |
| Suppliers | 440/4 | €6,967 | €5,236 | -€1,732 | -24.9% |
| Advances received on contracts in progress | 46 | €12,245 | €16,050 | +€3,805 | +31.1% |
| Taxes, remuneration and social security | 45 | - | €686 | +€686 | |
| Taxes | 450/3 | - | €686 | +€686 | |
| Other amounts payable | 47/48 | €283,096 | €282,170 | -€926 | -0.3% |
| Accrued charges and deferred income | 492/3 | €13,884 | €22,025 | +€8,142 | +58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,544 | €15,848 | +€2,304 | +17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,442 | +€1,442 | |
| Other operating charges | 640/8 | €2,427 | €2,291 | -€135 | -5.6% |
| Gross operating margin | 9900 | €132,118 | €193,531 | +€61,413 | +46.5% |
| Operating profit (loss) | 9901 | €116,148 | €173,950 | +€57,802 | +49.8% |
| Financial income | 75/76B | €27,144 | €136,472 | +€109,328 | +402.8% |
| Recurring financial income | 75 | €27,144 | €136,472 | +€109,328 | +402.8% |
| Financial charges | 65/66B | €15,475 | €23,585 | +€8,110 | +52.4% |
| Recurring financial charges | 65 | €15,475 | €23,585 | +€8,110 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €127,817 | €286,837 | +€159,021 | +124.4% |
| Income taxes | 67/77 | €37,367 | €66,559 | +€29,193 | +78.1% |
| Profit (loss) for the period | 9904 | €90,450 | €220,278 | +€129,828 | +143.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,450 | €220,278 | +€129,828 | +143.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.