Tim Van Acker: what changed
Tim Van Acker
Largest movements
- Tangible fixed assets +€58,551
up €58,551 (+128%), from €45,597 to €104,148
of which Furniture and vehicles: +€57,521
- Stocks and contracts +€13,645
up €13,645 (+33.0%), from €41,403 to €55,048
- Cash +€12,108
up €12,108 (+275%), from €4,396 to €16,504
mainly Debts after one year (+€49,686) and Net result for the year (+€23,404)
- Receivables within one year -€4,543
down €4,543 (-10.2%), from €44,510 to €39,967
of which Trade receivables: -€6,156
- Debts after one year +€49,686
up €49,686 (+352%), from €14,116 to €63,802
of which Financial debts: +€53,163
- Reserves +€23,404
up €23,404 (+125%), from €18,759 to €42,163
- Other debts -€11,574
down €11,574 (-18.4%), from €62,969 to €51,394
- Tax, wage and social debts +€9,458
up €9,458 (+114%), from €8,316 to €17,773
- Current portion of long-term debt +€7,818
up €7,818 (+234%), from €3,341 to €11,159
- Gross operating margin +€21,253
up €21,253 (+69.1%), from €30,749 to €52,002
- Depreciation +€14,782
up €14,782 (+611%), from €2,421 to €17,203
- Taxes +€1,740
up €1,740 (+23.1%), from €7,516 to €9,256
- Financial charges +€1,178
up €1,178 (+399%), from €296 to €1,474
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,492 | €218,005 | +€80,513 | +58.6% |
| Fixed assets | 21/28 | €46,335 | €104,673 | +€58,338 | +126% |
| Intangible fixed assets | 21 | €739 | €485 | -€253 | -34.3% |
| Tangible fixed assets | 22/27 | €45,597 | €104,148 | +€58,551 | +128% |
| Land and buildings | 22 | - | €1,109 | +€1,109 | |
| Plant, machinery and equipment | 23 | €3,148 | €3,069 | -€79 | -2.5% |
| Furniture and vehicles | 24 | €42,448 | €99,969 | +€57,521 | +136% |
| Financial fixed assets | 28 | - | €40 | +€40 | |
| Current assets | 29/58 | €91,157 | €113,332 | +€22,175 | +24.3% |
| Stocks and contracts in progress | 3 | €41,403 | €55,048 | +€13,645 | +33.0% |
| Stocks | 30/36 | €41,403 | €55,048 | +€13,645 | +33.0% |
| Amounts receivable within one year | 40/41 | €44,510 | €39,967 | -€4,543 | -10.2% |
| Trade receivables | 40 | €33,814 | €27,657 | -€6,156 | -18.2% |
| Other amounts receivable | 41 | €10,697 | €12,310 | +€1,613 | +15.1% |
| Cash at bank and in hand | 54/58 | €4,396 | €16,504 | +€12,108 | +275% |
| Deferred charges and accrued income | 490/1 | €847 | €1,813 | +€966 | +114% |
| Total equity and liabilities | 10/49 | €137,492 | €218,005 | +€80,513 | +58.6% |
| Equity | 10/15 | €23,759 | €47,163 | +€23,404 | +98.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,759 | €42,163 | +€23,404 | +125% |
| Distributable reserves | 133 | €18,759 | €42,163 | +€23,404 | +125% |
| Amounts payable | 17/49 | €113,733 | €170,842 | +€57,109 | +50.2% |
| Amounts payable after more than one year | 17 | €14,116 | €63,802 | +€49,686 | +352% |
| Financial debts | 170/4 | - | €53,163 | +€53,163 | |
| Other amounts payable | 178/9 | €14,116 | €10,639 | -€3,477 | -24.6% |
| Amounts payable within one year | 42/48 | €99,594 | €107,032 | +€7,438 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €3,341 | €11,159 | +€7,818 | +234% |
| Trade debts | 44 | €24,969 | €26,705 | +€1,736 | +7.0% |
| Suppliers | 440/4 | €24,969 | €26,705 | +€1,736 | +7.0% |
| Taxes, remuneration and social security | 45 | €8,316 | €17,773 | +€9,458 | +114% |
| Taxes | 450/3 | €8,316 | €17,773 | +€9,458 | +114% |
| Other amounts payable | 47/48 | €62,969 | €51,394 | -€11,574 | -18.4% |
| Accrued charges and deferred income | 492/3 | €24 | €9 | -€15 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,421 | €17,203 | +€14,782 | +611% |
| Other operating charges | 640/8 | €995 | €985 | -€11 | -1.1% |
| Gross operating margin | 9900 | €30,749 | €52,002 | +€21,253 | +69.1% |
| Operating profit (loss) | 9901 | €27,333 | €33,814 | +€6,481 | +23.7% |
| Financial income | 75/76B | €97 | €320 | +€223 | +231% |
| Recurring financial income | 75 | €97 | €320 | +€223 | +231% |
| Financial charges | 65/66B | €296 | €1,474 | +€1,178 | +399% |
| Recurring financial charges | 65 | €296 | €1,474 | +€1,178 | +399% |
| Profit (loss) for the period before taxes | 9903 | €27,134 | €32,660 | +€5,526 | +20.4% |
| Income taxes | 67/77 | €7,516 | €9,256 | +€1,740 | +23.1% |
| Profit (loss) for the period | 9904 | €19,618 | €23,404 | +€3,786 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,618 | €23,404 | +€3,786 | +19.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.