A.S. Editions: 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. Editions
Largest movements
- Tangible fixed assets -€14,880
down €14,880 (-16.2%), from €91,715 to €76,835
of which Furniture and vehicles: -€16,057
- Current investments +€14,827
up €14,827 (+8.0%), from €184,306 to €199,133
- Cash +€9,946
up €9,946 (+7.0%), from €142,313 to €152,260
mainly Net result for the year (+€30,107) and Depreciation (+€20,694)
- Reserves +€30,107
up €30,107 (+8.8%), from €343,941 to €374,049
of which Distributable reserves: +€30,107
- Tax, wage and social debts -€13,600
down €13,600 (-66.1%), from €20,590 to €6,990
- Debts after one year -€9,747
down €9,747 (-26.0%), from €37,544 to €27,797
- Gross operating margin -€50,092
down €50,092 (-43.8%), from €114,436 to €64,344
- Taxes -€16,515
down €16,515 (-57.0%), from €28,973 to €12,458
- Depreciation +€10,787
up €10,787 (+109%), from €9,907 to €20,694
- Financial income -€2,990
down €2,990 (-50.4%), from €5,932 to €2,942
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 | €432,436 | €441,686 | +€9,250 | +2.1% |
| Fixed assets | 21/28 | €91,805 | €76,925 | -€14,880 | -16.2% |
| Tangible fixed assets | 22/27 | €91,715 | €76,835 | -€14,880 | -16.2% |
| Land and buildings | 22 | €2,728 | €2,046 | -€682 | -25.0% |
| Plant, machinery and equipment | 23 | €733 | €2,591 | +€1,858 | +254% |
| Furniture and vehicles | 24 | €88,254 | €72,198 | -€16,057 | -18.2% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €340,631 | €364,761 | +€24,130 | +7.1% |
| Amounts receivable within one year | 40/41 | €11,965 | €13,368 | +€1,403 | +11.7% |
| Trade receivables | 40 | €11,285 | €11,949 | +€664 | +5.9% |
| Other amounts receivable | 41 | €681 | €1,419 | +€739 | +109% |
| Current investments | 50/53 | €184,306 | €199,133 | +€14,827 | +8.0% |
| Cash at bank and in hand | 54/58 | €142,313 | €152,260 | +€9,946 | +7.0% |
| Deferred charges and accrued income | 490/1 | €2,047 | - | -€2,047 | |
| Total equity and liabilities | 10/49 | €432,436 | €441,686 | +€9,250 | +2.1% |
| Equity | 10/15 | €362,541 | €392,649 | +€30,107 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €343,941 | €374,049 | +€30,107 | +8.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €342,081 | €372,189 | +€30,107 | +8.8% |
| Amounts payable | 17/49 | €69,895 | €49,037 | -€20,858 | -29.8% |
| Amounts payable after more than one year | 17 | €37,544 | €27,797 | -€9,747 | -26.0% |
| Financial debts | 170/4 | €37,544 | €27,797 | -€9,747 | -26.0% |
| Amounts payable within one year | 42/48 | €31,335 | €20,807 | -€10,528 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €9,398 | €9,747 | +€349 | +3.7% |
| Trade debts | 44 | €1,346 | €1,630 | +€283 | +21.0% |
| Suppliers | 440/4 | €1,346 | €1,630 | +€283 | +21.0% |
| Taxes, remuneration and social security | 45 | €20,590 | €6,990 | -€13,600 | -66.1% |
| Taxes | 450/3 | €20,590 | €6,990 | -€13,600 | -66.1% |
| Other amounts payable | 47/48 | - | €2,440 | +€2,440 | |
| Accrued charges and deferred income | 492/3 | €1,016 | €434 | -€583 | -57.3% |
| Remuneration, social security and pensions | 62 | €2,275 | €2,271 | -€4 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,907 | €20,694 | +€10,787 | +109% |
| Other operating charges | 640/8 | €933 | €62 | -€871 | -93.4% |
| Gross operating margin | 9900 | €114,436 | €64,344 | -€50,092 | -43.8% |
| Operating profit (loss) | 9901 | €101,321 | €41,317 | -€60,004 | -59.2% |
| Financial income | 75/76B | €5,932 | €2,942 | -€2,990 | -50.4% |
| Recurring financial income | 75 | €5,932 | €2,942 | -€2,990 | -50.4% |
| Financial charges | 65/66B | €730 | €1,694 | +€964 | +132% |
| Recurring financial charges | 65 | €730 | €1,694 | +€964 | +132% |
| Profit (loss) for the period before taxes | 9903 | €106,523 | €42,565 | -€63,958 | -60.0% |
| Income taxes | 67/77 | €28,973 | €12,458 | -€16,515 | -57.0% |
| Profit (loss) for the period | 9904 | €77,550 | €30,107 | -€47,443 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77,550 | €30,107 | -€47,443 | -61.2% |
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 30 October 2026 via checked.be.