Johan Ackhurst: 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.
Johan Ackhurst
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables within one year +€76,830
up €76,830 (+23.1%), from €332,328 to €409,158
of which Trade receivables: +€103,480
- Cash -€40,112
down €40,112 (-54.6%), from €73,479 to €33,367
mainly Contributions, distributions and other (-€251,192) and Receivables within one year (-€76,830)
- Tangible fixed assets -€16,338
down €16,338 (-34.2%), from €47,729 to €31,391
of which Furniture and vehicles: -€12,501
- Stocks and contracts -€15,971
down €15,971 (-100.0%), from €15,971 to €0
- Reserves -€126,483
down €126,483 (-24.2%), from €522,029 to €395,546
- Tax, wage and social debts +€41,281
up €41,281 (+134.4%), from €30,724 to €72,005
of which Taxes: +€41,166
- Debts after one year -€8,877
down €8,877 (-100.0%), from €8,877 to €0
- Current portion of long-term debt -€8,304
down €8,304 (-48.3%), from €17,181 to €8,877
- Gross operating margin -€14,595
down €14,595 (-7.2%), from €201,789 to €187,194
- Financial charges -€2,160
down €2,160 (-55.6%), from €3,881 to €1,721
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 | €586,125 | €482,712 | -€103,413 | -17.6% |
| Fixed assets | 21/28 | €52,229 | €35,891 | -€16,338 | -31.3% |
| Tangible fixed assets | 22/27 | €47,729 | €31,391 | -€16,338 | -34.2% |
| Plant, machinery and equipment | 23 | €6,985 | €3,149 | -€3,836 | -54.9% |
| Furniture and vehicles | 24 | €40,744 | €28,243 | -€12,501 | -30.7% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €533,896 | €446,821 | -€87,075 | -16.3% |
| Stocks and contracts in progress | 3 | €15,971 | €0 | -€15,971 | -100.0% |
| Stocks | 30/36 | €15,971 | €0 | -€15,971 | -100.0% |
| Amounts receivable within one year | 40/41 | €332,328 | €409,158 | +€76,830 | +23.1% |
| Trade receivables | 40 | €75,878 | €179,358 | +€103,480 | +136.4% |
| Other amounts receivable | 41 | €256,449 | €229,800 | -€26,650 | -10.4% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €73,479 | €33,367 | -€40,112 | -54.6% |
| Deferred charges and accrued income | 490/1 | €12,118 | €4,295 | -€7,823 | -64.6% |
| Total equity and liabilities | 10/49 | €586,125 | €482,712 | -€103,413 | -17.6% |
| Equity | 10/15 | €527,029 | €400,546 | -€126,483 | -24.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €522,029 | €395,546 | -€126,483 | -24.2% |
| Distributable reserves | 133 | €522,029 | €395,546 | -€126,483 | -24.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €59,096 | €82,166 | +€23,070 | +39.0% |
| Amounts payable after more than one year | 17 | €8,877 | €0 | -€8,877 | -100.0% |
| Financial debts | 170/4 | €8,877 | €0 | -€8,877 | -100.0% |
| Amounts payable within one year | 42/48 | €49,800 | €82,061 | +€32,261 | +64.8% |
| Current portion of amounts payable after more than one year | 42 | €17,181 | €8,877 | -€8,304 | -48.3% |
| Financial debts | 43 | €22 | €0 | -€22 | -100.0% |
| Credit institutions | 430/8 | €22 | €0 | -€22 | -100.0% |
| Trade debts | 44 | €1,874 | €1,179 | -€695 | -37.1% |
| Suppliers | 440/4 | €1,874 | €1,179 | -€695 | -37.1% |
| Taxes, remuneration and social security | 45 | €30,724 | €72,005 | +€41,281 | +134.4% |
| Taxes | 450/3 | €26,012 | €67,178 | +€41,166 | +158.3% |
| Remuneration and social security | 454/9 | €4,711 | €4,827 | +€116 | +2.5% |
| Accrued charges and deferred income | 492/3 | €419 | €106 | -€314 | -74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,216 | €16,338 | -€878 | -5.1% |
| Other operating charges | 640/8 | €1,480 | €3,058 | +€1,577 | +106.5% |
| Gross operating margin | 9900 | €201,789 | €187,194 | -€14,595 | -7.2% |
| Operating profit (loss) | 9901 | €183,093 | €167,799 | -€15,294 | -8.4% |
| Financial income | 75/76B | €1,141 | €2,169 | +€1,029 | +90.2% |
| Recurring financial income | 75 | €1,141 | €2,169 | +€1,029 | +90.2% |
| Financial charges | 65/66B | €3,881 | €1,721 | -€2,160 | -55.6% |
| Recurring financial charges | 65 | €3,881 | €1,721 | -€2,160 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €180,353 | €168,247 | -€12,106 | -6.7% |
| Income taxes | 67/77 | €44,539 | €43,539 | -€1,001 | -2.2% |
| Profit (loss) for the period | 9904 | €135,813 | €124,709 | -€11,105 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €135,813 | €124,709 | -€11,105 | -8.2% |
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 2 October 2026 via checked.be.