A.S.A.: 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.A.
Largest movements
- Cash +€34,465
up €34,465 (+18.7%), from €183,860 to €218,325
mainly Net result for the year (+€39,780) and Depreciation (+€11,357)
- Tangible fixed assets +€7,184
up €7,184 (+22.6%), from €31,829 to €39,013
of which Furniture and vehicles: +€5,485
- Reserves +€27,500
up €27,500 (+100.0%), from €27,500 to €55,000
- Profit (loss) carried forward +€12,280
up €12,280 (+7.1%), from €173,466 to €185,745
- Gross operating margin +€13,297
up €13,297 (+22.2%), from €59,787 to €73,084
- Taxes +€3,559
up €3,559 (+20.6%), from €17,263 to €20,822
- Depreciation +€3,194
up €3,194 (+39.1%), from €8,163 to €11,357
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 | €282,350 | €328,357 | +€46,007 | +16.3% |
| Fixed assets | 21/28 | €31,829 | €39,013 | +€7,184 | +22.6% |
| Tangible fixed assets | 22/27 | €31,829 | €39,013 | +€7,184 | +22.6% |
| Plant, machinery and equipment | 23 | €1,594 | €3,293 | +€1,699 | +106.6% |
| Furniture and vehicles | 24 | €30,235 | €35,720 | +€5,485 | +18.1% |
| Current assets | 29/58 | €250,521 | €289,344 | +€38,823 | +15.5% |
| Stocks and contracts in progress | 3 | €505 | €2,230 | +€1,725 | +341.6% |
| Stocks | 30/36 | €505 | €2,230 | +€1,725 | +341.6% |
| Amounts receivable within one year | 40/41 | €66,156 | €68,789 | +€2,633 | +4.0% |
| Trade receivables | 40 | €2,219 | €1,680 | -€539 | -24.3% |
| Other amounts receivable | 41 | €63,937 | €67,109 | +€3,172 | +5.0% |
| Cash at bank and in hand | 54/58 | €183,860 | €218,325 | +€34,465 | +18.7% |
| Total equity and liabilities | 10/49 | €282,350 | €328,357 | +€46,007 | +16.3% |
| Equity | 10/15 | €219,566 | €259,345 | +€39,780 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,500 | €55,000 | +€27,500 | +100.0% |
| Distributable reserves | 133 | €27,500 | €55,000 | +€27,500 | +100.0% |
| Profit (loss) carried forward | 14 | €173,466 | €185,745 | +€12,280 | +7.1% |
| Amounts payable | 17/49 | €62,784 | €69,011 | +€6,227 | +9.9% |
| Amounts payable after more than one year | 17 | €18,981 | €21,719 | +€2,739 | +14.4% |
| Financial debts | 170/4 | €18,981 | €21,719 | +€2,739 | +14.4% |
| Amounts payable within one year | 42/48 | €43,803 | €47,292 | +€3,489 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €5,661 | €8,412 | +€2,751 | +48.6% |
| Trade debts | 44 | €4,156 | €3,694 | -€462 | -11.1% |
| Suppliers | 440/4 | €4,156 | €3,694 | -€462 | -11.1% |
| Taxes, remuneration and social security | 45 | €33,986 | €35,186 | +€1,200 | +3.5% |
| Taxes | 450/3 | €33,986 | €35,186 | +€1,200 | +3.5% |
| Remuneration, social security and pensions | 62 | €389 | - | -€389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,163 | €11,357 | +€3,194 | +39.1% |
| Other operating charges | 640/8 | €3,068 | €2,618 | -€450 | -14.7% |
| Gross operating margin | 9900 | €59,787 | €73,084 | +€13,297 | +22.2% |
| Operating profit (loss) | 9901 | €48,166 | €59,109 | +€10,942 | +22.7% |
| Financial income | 75/76B | €3,280 | €3,628 | +€348 | +10.6% |
| Recurring financial income | 75 | €3,280 | €3,628 | +€348 | +10.6% |
| Financial charges | 65/66B | €2,160 | €2,135 | -€25 | -1.2% |
| Recurring financial charges | 65 | €2,160 | €2,135 | -€25 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €49,286 | €60,601 | +€11,316 | +23.0% |
| Income taxes | 67/77 | €17,263 | €20,822 | +€3,559 | +20.6% |
| Profit (loss) for the period | 9904 | €32,023 | €39,780 | +€7,757 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,023 | €39,780 | +€7,757 | +24.2% |
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 10 October 2026 via checked.be.