NICOLAS ACOU: 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.
NICOLAS ACOU
Largest movements
- Current investments +€62,000
new in 2025: €62,000
- Cash -€37,320
down €37,320 (-17.9%), from €207,914 to €170,593
mainly Contributions, distributions and other (-€114,355) and Current investments (-€62,000)
- Tangible fixed assets -€28,989
down €28,989 (-26.8%), from €108,350 to €79,361
of which Furniture and vehicles: -€26,761
- Deferred charges and accrued income +€7,048
up €7,048 (+85.3%), from €8,266 to €15,314
- Reserves +€100,000
up €100,000 (+59.0%), from €169,500 to €269,500
of which Distributable reserves: +€100,000
- Profit (loss) carried forward -€70,188
no longer reported in 2025 (was €70,188)
- Other debts -€28,522
down €28,522 (-19.8%), from €144,221 to €115,699
- Debts after one year -€27,944
down €27,944 (-56.2%), from €49,738 to €21,793
- Tax, wage and social debts +€27,813
up €27,813 (+51.5%), from €54,026 to €81,839
of which Taxes: +€25,752
- Gross operating margin -€35,899
down €35,899 (-12.8%), from €280,038 to €244,139
- Taxes -€14,100
down €14,100 (-18.9%), from €74,730 to €60,629
- Depreciation +€4,055
up €4,055 (+13.7%), from €29,579 to €33,634
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 | €599,166 | €606,388 | +€7,222 | +1.2% |
| Fixed assets | 21/28 | €108,419 | €79,430 | -€28,989 | -26.7% |
| Tangible fixed assets | 22/27 | €108,350 | €79,361 | -€28,989 | -26.8% |
| Plant, machinery and equipment | 23 | €5,690 | €3,716 | -€1,974 | -34.7% |
| Furniture and vehicles | 24 | €101,898 | €75,137 | -€26,761 | -26.3% |
| Other tangible fixed assets | 26 | €762 | €508 | -€254 | -33.3% |
| Financial fixed assets | 28 | €69 | €69 | = | 0.0% |
| Current assets | 29/58 | €490,747 | €526,958 | +€36,211 | +7.4% |
| Stocks and contracts in progress | 3 | €19,830 | €19,830 | = | 0.0% |
| Stocks | 30/36 | €19,830 | €19,830 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €254,737 | €259,220 | +€4,483 | +1.8% |
| Trade receivables | 40 | €254,737 | €259,220 | +€4,483 | +1.8% |
| Current investments | 50/53 | - | €62,000 | +€62,000 | |
| Cash at bank and in hand | 54/58 | €207,914 | €170,593 | -€37,320 | -17.9% |
| Deferred charges and accrued income | 490/1 | €8,266 | €15,314 | +€7,048 | +85.3% |
| Total equity and liabilities | 10/49 | €599,166 | €606,388 | +€7,222 | +1.2% |
| Equity | 10/15 | €259,688 | €289,500 | +€29,812 | +11.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €169,500 | €269,500 | +€100,000 | +59.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €167,500 | €267,500 | +€100,000 | +59.7% |
| Profit (loss) carried forward | 14 | €70,188 | - | -€70,188 | |
| Amounts payable | 17/49 | €339,478 | €316,888 | -€22,590 | -6.7% |
| Amounts payable after more than one year | 17 | €49,738 | €21,793 | -€27,944 | -56.2% |
| Financial debts | 170/4 | €49,738 | €21,793 | -€27,944 | -56.2% |
| Amounts payable within one year | 42/48 | €285,656 | €291,011 | +€5,354 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €33,876 | €27,944 | -€5,931 | -17.5% |
| Trade debts | 44 | €53,533 | €65,528 | +€11,995 | +22.4% |
| Suppliers | 440/4 | €53,533 | €65,528 | +€11,995 | +22.4% |
| Taxes, remuneration and social security | 45 | €54,026 | €81,839 | +€27,813 | +51.5% |
| Taxes | 450/3 | €50,220 | €75,972 | +€25,752 | +51.3% |
| Remuneration and social security | 454/9 | €3,807 | €5,867 | +€2,061 | +54.1% |
| Other amounts payable | 47/48 | €144,221 | €115,699 | -€28,522 | -19.8% |
| Accrued charges and deferred income | 492/3 | €4,084 | €4,084 | = | 0.0% |
| Non-recurring operating income | 76A | €6,716 | - | -€6,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,579 | €33,634 | +€4,055 | +13.7% |
| Other operating charges | 640/8 | €2,822 | €3,066 | +€244 | +8.6% |
| Gross operating margin | 9900 | €280,038 | €244,139 | -€35,899 | -12.8% |
| Operating profit (loss) | 9901 | €247,637 | €207,439 | -€40,198 | -16.2% |
| Financial income | 75/76B | €266 | €690 | +€423 | +159% |
| Recurring financial income | 75 | €266 | €690 | +€423 | +159% |
| Financial charges | 65/66B | €4,100 | €3,333 | -€767 | -18.7% |
| Recurring financial charges | 65 | €4,100 | €3,333 | -€767 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €243,804 | €204,796 | -€39,007 | -16.0% |
| Income taxes | 67/77 | €74,730 | €60,629 | -€14,100 | -18.9% |
| Profit (loss) for the period | 9904 | €169,074 | €144,167 | -€24,907 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €169,074 | €144,167 | -€24,907 | -14.7% |
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 13 October 2026 via checked.be.