FIRST - ACCENT: 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.
FIRST - ACCENT
Largest movements
- Current investments +€305,000
up €305,000 (+307.4%), from €99,207 to €404,207
- Cash -€107,893
down €107,893 (-96.8%), from €111,452 to €3,559
mainly Current investments (-€305,000) and Investment in fixed assets (net) (-€86,940)
- Tangible fixed assets +€59,427
up €59,427 (+33.9%), from €175,344 to €234,770
of which Furniture and vehicles: +€69,176
- Receivables within one year -€14,480
down €14,480 (-9.2%), from €157,410 to €142,930
of which Trade receivables: -€32,785
- Deferred charges and accrued income -€12,235
down €12,235 (-21.7%), from €56,304 to €44,070
- Reserves +€239,491
up €239,491 (+45.2%), from €529,745 to €769,235
of which Distributable reserves: +€155,291
- Current portion of long-term debt -€20,933
down €20,933 (-83.3%), from €25,142 to €4,209
- Trade debts +€16,563
up €16,563 (+3226.2%), from €513 to €17,077
- Gross operating margin -€49,005
down €49,005 (-12.4%), from €393,940 to €344,935
- Taxes -€22,871
down €22,871 (-25.1%), from €91,240 to €68,369
- Other operating charges +€11,985
up €11,985 (+3610.0%), from €332 to €12,317
- Depreciation +€4,948
up €4,948 (+21.9%), from €22,565 to €27,513
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 | €599,717 | €829,536 | +€229,819 | +38.3% |
| Fixed assets | 21/28 | €175,344 | €234,770 | +€59,427 | +33.9% |
| Tangible fixed assets | 22/27 | €175,344 | €234,770 | +€59,427 | +33.9% |
| Land and buildings | 22 | €140,149 | €130,674 | -€9,475 | -6.8% |
| Plant, machinery and equipment | 23 | €1,627 | €1,353 | -€275 | -16.9% |
| Furniture and vehicles | 24 | €33,567 | €102,744 | +€69,176 | +206.1% |
| Current assets | 29/58 | €424,373 | €594,765 | +€170,392 | +40.2% |
| Amounts receivable within one year | 40/41 | €157,410 | €142,930 | -€14,480 | -9.2% |
| Trade receivables | 40 | €58,812 | €26,026 | -€32,785 | -55.7% |
| Other amounts receivable | 41 | €98,598 | €116,904 | +€18,306 | +18.6% |
| Current investments | 50/53 | €99,207 | €404,207 | +€305,000 | +307.4% |
| Cash at bank and in hand | 54/58 | €111,452 | €3,559 | -€107,893 | -96.8% |
| Deferred charges and accrued income | 490/1 | €56,304 | €44,070 | -€12,235 | -21.7% |
| Total equity and liabilities | 10/49 | €599,717 | €829,536 | +€229,819 | +38.3% |
| Equity | 10/15 | €557,059 | €796,550 | +€239,491 | +43.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €529,745 | €769,235 | +€239,491 | +45.2% |
| Tax-exempt reserves | 132 | €71,149 | €155,349 | +€84,200 | +118.3% |
| Distributable reserves | 133 | €458,596 | €613,886 | +€155,291 | +33.9% |
| Profit (loss) carried forward | 14 | €2,314 | €2,314 | = | 0.0% |
| Amounts payable | 17/49 | €42,658 | €32,986 | -€9,672 | -22.7% |
| Amounts payable after more than one year | 17 | €4,209 | - | -€4,209 | |
| Financial debts | 170/4 | €4,209 | - | -€4,209 | |
| Amounts payable within one year | 42/48 | €38,449 | €32,986 | -€5,463 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €25,142 | €4,209 | -€20,933 | -83.3% |
| Trade debts | 44 | €513 | €17,077 | +€16,563 | +3226.2% |
| Suppliers | 440/4 | €513 | €17,077 | +€16,563 | +3226.2% |
| Advances received on contracts in progress | 46 | €238 | - | -€238 | |
| Taxes, remuneration and social security | 45 | €12,555 | €11,700 | -€855 | -6.8% |
| Taxes | 450/3 | €12,555 | €11,700 | -€855 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,565 | €27,513 | +€4,948 | +21.9% |
| Other operating charges | 640/8 | €332 | €12,317 | +€11,985 | +3610.0% |
| Gross operating margin | 9900 | €393,940 | €344,935 | -€49,005 | -12.4% |
| Operating profit (loss) | 9901 | €371,043 | €305,105 | -€65,938 | -17.8% |
| Financial income | 75/76B | €5,147 | €6,551 | +€1,403 | +27.3% |
| Recurring financial income | 75 | €5,147 | €6,551 | +€1,403 | +27.3% |
| Financial charges | 65/66B | €1,487 | €3,795 | +€2,308 | +155.2% |
| Recurring financial charges | 65 | €1,487 | €1,319 | -€168 | -11.3% |
| Non-recurring financial charges | 66B | - | €2,476 | +€2,476 | |
| Profit (loss) for the period before taxes | 9903 | €374,703 | €307,860 | -€66,843 | -17.8% |
| Income taxes | 67/77 | €91,240 | €68,369 | -€22,871 | -25.1% |
| Profit (loss) for the period | 9904 | €283,463 | €239,491 | -€43,973 | -15.5% |
| Transfer to tax-exempt reserves | 689 | €71,149 | €84,200 | +€13,051 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €212,314 | €155,291 | -€57,024 | -26.9% |
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 8 October 2026 via checked.be.