A.S.: 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.
A.S.
Largest movements
- Stocks and contracts +€15,703
up €15,703 (+123%), from €12,803 to €28,506
- Cash -€4,147
down €4,147 (-12.1%), from €34,389 to €30,242
mainly Stocks and contracts (-€15,703) and Tax, wage and social debts (-€2,643)
- Deferred charges and accrued income -€3,717
down €3,717 (-12.6%), from €29,544 to €25,827
- Tangible fixed assets -€2,256
down €2,256 (-23.2%), from €9,739 to €7,483
of which Furniture and vehicles: -€2,105
- Reserves +€9,570
up €9,570 (+8.7%), from €109,488 to €119,058
- Tax, wage and social debts -€2,643
down €2,643 (-4.8%), from €55,577 to €52,934
of which Remuneration and social security: -€3,730
- Gross operating margin +€12,168
up €12,168 (+11.5%), from €105,719 to €117,887
- Staff costs +€10,900
up €10,900 (+12.6%), from €86,302 to €97,201
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 | €183,956 | €188,212 | +€4,256 | +2.3% |
| Fixed assets | 21/28 | €9,739 | €7,483 | -€2,256 | -23.2% |
| Tangible fixed assets | 22/27 | €9,739 | €7,483 | -€2,256 | -23.2% |
| Plant, machinery and equipment | 23 | €151 | €0 | -€151 | -100% |
| Furniture and vehicles | 24 | €9,588 | €7,483 | -€2,105 | -22.0% |
| Current assets | 29/58 | €174,217 | €180,729 | +€6,513 | +3.7% |
| Amounts receivable after more than one year | 29 | €69,667 | €69,667 | = | 0.0% |
| Other amounts receivable | 291 | €69,667 | €69,667 | = | 0.0% |
| Stocks and contracts in progress | 3 | €12,803 | €28,506 | +€15,703 | +123% |
| Stocks | 30/36 | €12,803 | €28,506 | +€15,703 | +123% |
| Amounts receivable within one year | 40/41 | €27,814 | €26,488 | -€1,326 | -4.8% |
| Trade receivables | 40 | €2,034 | €700 | -€1,334 | -65.6% |
| Other amounts receivable | 41 | €25,780 | €25,788 | +€8 | 0.0% |
| Cash at bank and in hand | 54/58 | €34,389 | €30,242 | -€4,147 | -12.1% |
| Deferred charges and accrued income | 490/1 | €29,544 | €25,827 | -€3,717 | -12.6% |
| Total equity and liabilities | 10/49 | €183,956 | €188,212 | +€4,256 | +2.3% |
| Equity | 10/15 | €115,688 | €125,258 | +€9,570 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,488 | €119,058 | +€9,570 | +8.7% |
| Distributable reserves | 133 | €109,488 | €119,058 | +€9,570 | +8.7% |
| Amounts payable | 17/49 | €68,268 | €62,954 | -€5,314 | -7.8% |
| Amounts payable within one year | 42/48 | €65,826 | €61,624 | -€4,202 | -6.4% |
| Trade debts | 44 | €10,249 | €8,690 | -€1,559 | -15.2% |
| Suppliers | 440/4 | €10,249 | €8,690 | -€1,559 | -15.2% |
| Taxes, remuneration and social security | 45 | €55,577 | €52,934 | -€2,643 | -4.8% |
| Taxes | 450/3 | €31,939 | €33,026 | +€1,087 | +3.4% |
| Remuneration and social security | 454/9 | €23,638 | €19,909 | -€3,730 | -15.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,442 | €1,330 | -€1,112 | -45.5% |
| Non-recurring operating income | 76A | €3,806 | €0 | -€3,806 | -100% |
| Remuneration, social security and pensions | 62 | €86,302 | €97,201 | +€10,900 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,390 | €2,256 | +€867 | +62.4% |
| Other operating charges | 640/8 | €2,836 | €2,242 | -€594 | -21.0% |
| Gross operating margin | 9900 | €105,719 | €117,887 | +€12,168 | +11.5% |
| Operating profit (loss) | 9901 | €15,191 | €16,187 | +€996 | +6.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,775 | €1,576 | -€199 | -11.2% |
| Recurring financial charges | 65 | €1,775 | €1,576 | -€199 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €13,416 | €14,612 | +€1,196 | +8.9% |
| Income taxes | 67/77 | €4,859 | €5,042 | +€183 | +3.8% |
| Profit (loss) for the period | 9904 | €8,557 | €9,570 | +€1,013 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,557 | €9,570 | +€1,013 | +11.8% |
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 17 October 2026 via checked.be.