A.S.D.: 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.D.
Largest movements
- Cash +€161,332
up €161,332 (+22.8%), from €706,472 to €867,804
mainly Net result for the year (+€316,307) and Depreciation (+€67,437)
- Current investments +€48,599
up €48,599 (+21.2%), from €229,438 to €278,036
- Tangible fixed assets +€43,686
up €43,686 (+11.0%), from €395,972 to €439,658
of which Land and buildings: +€41,570
- Reserves +€275,000
up €275,000 (+26.3%), from €1.0m to €1.3m
of which Distributable reserves: +€275,000
- Current portion of long-term debt +€38,052
up €38,052 (+102.3%), from €37,187 to €75,238
- Other debts -€35,440
no longer reported in 2025 (was €35,440)
- Trade debts -€22,013
down €22,013 (-36.7%), from €60,005 to €37,991
- Taxes +€109,239
up €109,239 (+81.2%), from €134,588 to €243,827
- Gross operating margin +€37,516
up €37,516 (+5.7%), from €658,564 to €696,080
- Depreciation +€17,984
up €17,984 (+36.4%), from €49,453 to €67,437
- Financial income +€13,035
up €13,035 (+553.3%), from €2,356 to €15,391
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 | €1,882,099 | €2,131,675 | +€249,576 | +13.3% |
| Fixed assets | 21/28 | €397,372 | €439,658 | +€42,286 | +10.6% |
| Tangible fixed assets | 22/27 | €395,972 | €439,658 | +€43,686 | +11.0% |
| Land and buildings | 22 | €175,695 | €217,265 | +€41,570 | +23.7% |
| Plant, machinery and equipment | 23 | €133,737 | €122,667 | -€11,070 | -8.3% |
| Furniture and vehicles | 24 | €86,540 | €99,726 | +€13,186 | +15.2% |
| Financial fixed assets | 28 | €1,400 | - | -€1,400 | |
| Current assets | 29/58 | €1,484,726 | €1,692,016 | +€207,290 | +14.0% |
| Amounts receivable after more than one year | 29 | €149,571 | €143,785 | -€5,786 | -3.9% |
| Other amounts receivable | 291 | €149,571 | €143,785 | -€5,786 | -3.9% |
| Amounts receivable within one year | 40/41 | €398,055 | €397,596 | -€458 | -0.1% |
| Trade receivables | 40 | €31,257 | - | -€31,257 | |
| Other amounts receivable | 41 | €366,798 | €397,596 | +€30,799 | +8.4% |
| Current investments | 50/53 | €229,438 | €278,036 | +€48,599 | +21.2% |
| Cash at bank and in hand | 54/58 | €706,472 | €867,804 | +€161,332 | +22.8% |
| Deferred charges and accrued income | 490/1 | €1,192 | €4,795 | +€3,603 | +302.4% |
| Total equity and liabilities | 10/49 | €1,882,099 | €2,131,675 | +€249,576 | +13.3% |
| Equity | 10/15 | €1,581,062 | €1,862,369 | +€281,307 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,047,310 | €1,322,310 | +€275,000 | +26.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,450 | €30,450 | = | 0.0% |
| Distributable reserves | 133 | €1,015,000 | €1,290,000 | +€275,000 | +27.1% |
| Profit (loss) carried forward | 14 | €515,152 | €521,459 | +€6,307 | +1.2% |
| Provisions and deferred taxes | 16 | €20,000 | €20,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €281,036 | €249,306 | -€31,730 | -11.3% |
| Amounts payable after more than one year | 17 | €92,526 | €95,043 | +€2,516 | +2.7% |
| Financial debts | 170/4 | €92,526 | €95,043 | +€2,516 | +2.7% |
| Amounts payable within one year | 42/48 | €188,510 | €154,263 | -€34,247 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €37,187 | €75,238 | +€38,052 | +102.3% |
| Trade debts | 44 | €60,005 | €37,991 | -€22,013 | -36.7% |
| Suppliers | 440/4 | €60,005 | €37,991 | -€22,013 | -36.7% |
| Taxes, remuneration and social security | 45 | €55,878 | €41,034 | -€14,845 | -26.6% |
| Taxes | 450/3 | €44,976 | €32,827 | -€12,149 | -27.0% |
| Remuneration and social security | 454/9 | €10,903 | €8,207 | -€2,696 | -24.7% |
| Other amounts payable | 47/48 | €35,440 | - | -€35,440 | |
| Remuneration, social security and pensions | 62 | €64,519 | €68,077 | +€3,558 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,453 | €67,437 | +€17,984 | +36.4% |
| Other operating charges | 640/8 | €7,311 | €8,957 | +€1,646 | +22.5% |
| Non-recurring operating charges | 66A | €2,741 | €178 | -€2,563 | -93.5% |
| Gross operating margin | 9900 | €658,564 | €696,080 | +€37,516 | +5.7% |
| Operating profit (loss) | 9901 | €534,540 | €551,430 | +€16,890 | +3.2% |
| Financial income | 75/76B | €2,356 | €15,391 | +€13,035 | +553.3% |
| Recurring financial income | 75 | €2,356 | €15,391 | +€13,035 | +553.3% |
| Financial charges | 65/66B | €4,266 | €6,688 | +€2,422 | +56.8% |
| Recurring financial charges | 65 | €4,226 | €6,688 | +€2,462 | +58.3% |
| Non-recurring financial charges | 66B | €40 | - | -€40 | |
| Profit (loss) for the period before taxes | 9903 | €532,631 | €560,134 | +€27,503 | +5.2% |
| Income taxes | 67/77 | €134,588 | €243,827 | +€109,239 | +81.2% |
| Profit (loss) for the period | 9904 | €398,042 | €316,307 | -€81,736 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €398,042 | €316,307 | -€81,736 | -20.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.