A&S: 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.
A&S
Largest movements
- Current investments -€161,000
no longer reported in 2025 (was €161,000)
- Cash +€105,990
up €105,990 (+371.8%), from €28,506 to €134,496
mainly Current investments (+€161,000) and Net result for the year (+€51,844)
- Other debts -€90,000
no longer reported in 2025 (was €90,000)
- Profit (loss) carried forward +€51,844
up €51,844 (+1320.2%), from €3,927 to €55,771
- Debts after one year -€18,324
down €18,324 (-49.7%), from €36,889 to €18,565
- Gross operating margin +€6,878
up €6,878 (+9.9%), from €69,425 to €76,303
- Financial income -€1,804
down €1,804 (-38.7%), from €4,658 to €2,854
- Taxes +€949
up €949 (+5.8%), from €16,332 to €17,281
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 | €383,296 | €327,079 | -€56,217 | -14.7% |
| Fixed assets | 21/28 | €193,652 | €192,517 | -€1,134 | -0.6% |
| Tangible fixed assets | 22/27 | €193,652 | €192,517 | -€1,134 | -0.6% |
| Land and buildings | 22 | €192,390 | €191,861 | -€529 | -0.3% |
| Other tangible fixed assets | 26 | €1,262 | €656 | -€606 | -48.0% |
| Current assets | 29/58 | €189,644 | €134,561 | -€55,083 | -29.0% |
| Amounts receivable within one year | 40/41 | €65 | €65 | = | 0.0% |
| Other amounts receivable | 41 | €65 | €65 | = | 0.0% |
| Current investments | 50/53 | €161,000 | - | -€161,000 | |
| Cash at bank and in hand | 54/58 | €28,506 | €134,496 | +€105,990 | +371.8% |
| Deferred charges and accrued income | 490/1 | €73 | - | -€73 | |
| Total equity and liabilities | 10/49 | €383,296 | €327,079 | -€56,217 | -14.7% |
| Equity | 10/15 | €237,427 | €289,271 | +€51,844 | +21.8% |
| Contributions | 10/11 | €233,500 | €233,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,927 | €55,771 | +€51,844 | +1320.2% |
| Amounts payable | 17/49 | €145,869 | €37,808 | -€108,061 | -74.1% |
| Amounts payable after more than one year | 17 | €36,889 | €18,565 | -€18,324 | -49.7% |
| Financial debts | 170/4 | €36,889 | €18,565 | -€18,324 | -49.7% |
| Amounts payable within one year | 42/48 | €108,980 | €19,243 | -€89,737 | -82.3% |
| Current portion of amounts payable after more than one year | 42 | €18,086 | €18,324 | +€238 | +1.3% |
| Trade debts | 44 | €520 | €493 | -€27 | -5.2% |
| Suppliers | 440/4 | €520 | €493 | -€27 | -5.2% |
| Taxes, remuneration and social security | 45 | €374 | €425 | +€52 | +13.8% |
| Taxes | 450/3 | €374 | €425 | +€52 | +13.8% |
| Other amounts payable | 47/48 | €90,000 | - | -€90,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,134 | €1,134 | = | 0.0% |
| Other operating charges | 640/8 | €7,637 | €7,729 | +€92 | +1.2% |
| Gross operating margin | 9900 | €69,425 | €76,303 | +€6,878 | +9.9% |
| Operating profit (loss) | 9901 | €60,654 | €67,440 | +€6,786 | +11.2% |
| Financial income | 75/76B | €4,658 | €2,854 | -€1,804 | -38.7% |
| Recurring financial income | 75 | €4,658 | €2,854 | -€1,804 | -38.7% |
| Financial charges | 65/66B | €1,612 | €1,169 | -€443 | -27.5% |
| Recurring financial charges | 65 | €1,612 | €1,169 | -€443 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €63,700 | €69,125 | +€5,426 | +8.5% |
| Income taxes | 67/77 | €16,332 | €17,281 | +€949 | +5.8% |
| Profit (loss) for the period | 9904 | €47,367 | €51,844 | +€4,477 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,367 | €51,844 | +€4,477 | +9.5% |
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 3 October 2026 via checked.be.