A.S.LO PUZZO: 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.LO PUZZO
Largest movements
- Cash -€51,218
down €51,218 (-64.1%), from €79,954 to €28,736
mainly Other debts (-€55,311) and Accrued charges and deferred income (-€40,980)
- Deferred charges and accrued income -€25,648
down €25,648 (-74.9%), from €34,225 to €8,577
- Receivables within one year +€22,181
up €22,181 (+4.4%), from €507,467 to €529,647
of which Other amounts receivable: +€85,799
- Tangible fixed assets +€9,291
up €9,291 (+34.1%), from €27,251 to €36,542
of which Plant, machinery and equipment: +€12,904
- Other debts -€55,311
down €55,311 (-46.9%), from €117,873 to €62,563
- Trade debts +€42,506
up €42,506 (+19.3%), from €220,326 to €262,832
- Accrued charges and deferred income -€40,980
down €40,980 (-95.9%), from €42,744 to €1,764
- Short-term financial debts +€23,573
up €23,573 (+23.2%), from €101,427 to €125,000
- Profit (loss) carried forward +€22,802
up €22,802 (+35.2%), from €64,725 to €87,527
- Staff costs -€27,751
down €27,751 (-6.9%), from €401,520 to €373,769
- Gross operating margin -€8,850
down €8,850 (-2.0%), from €438,839 to €429,989
- Depreciation -€6,363
down €6,363 (-39.4%), from €16,148 to €9,786
- Other operating charges -€4,492
down €4,492 (-42.7%), from €10,522 to €6,030
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 | €651,768 | €606,365 | -€45,402 | -7.0% |
| Fixed assets | 21/28 | €30,122 | €39,405 | +€9,283 | +30.8% |
| Intangible fixed assets | 21 | €8 | €0 | -€8 | -100% |
| Tangible fixed assets | 22/27 | €27,251 | €36,542 | +€9,291 | +34.1% |
| Land and buildings | 22 | €7,000 | €7,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,262 | €21,166 | +€12,904 | +156% |
| Furniture and vehicles | 24 | €2,354 | €6,613 | +€4,259 | +181% |
| Leasing and similar rights | 25 | €9,635 | €0 | -€9,635 | -100% |
| Other tangible fixed assets | 26 | - | €1,763 | +€1,763 | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,863 | €2,863 | = | 0.0% |
| Current assets | 29/58 | €621,646 | €566,960 | -€54,685 | -8.8% |
| Amounts receivable within one year | 40/41 | €507,467 | €529,647 | +€22,181 | +4.4% |
| Trade receivables | 40 | €400,623 | €337,005 | -€63,618 | -15.9% |
| Other amounts receivable | 41 | €106,843 | €192,642 | +€85,799 | +80.3% |
| Cash at bank and in hand | 54/58 | €79,954 | €28,736 | -€51,218 | -64.1% |
| Deferred charges and accrued income | 490/1 | €34,225 | €8,577 | -€25,648 | -74.9% |
| Total equity and liabilities | 10/49 | €651,768 | €606,365 | -€45,402 | -7.0% |
| Equity | 10/15 | €85,185 | €107,987 | +€22,802 | +26.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,725 | €87,527 | +€22,802 | +35.2% |
| Amounts payable | 17/49 | €566,583 | €498,378 | -€68,204 | -12.0% |
| Amounts payable after more than one year | 17 | €27,737 | €18,596 | -€9,142 | -33.0% |
| Financial debts | 170/4 | €27,737 | €18,596 | -€9,142 | -33.0% |
| Amounts payable within one year | 42/48 | €496,101 | €478,019 | -€18,082 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €17,299 | €9,142 | -€8,158 | -47.2% |
| Financial debts | 43 | €101,427 | €125,000 | +€23,573 | +23.2% |
| Credit institutions | 430/8 | €101,427 | €125,000 | +€23,573 | +23.2% |
| Trade debts | 44 | €220,326 | €262,832 | +€42,506 | +19.3% |
| Suppliers | 440/4 | €220,326 | €262,832 | +€42,506 | +19.3% |
| Taxes, remuneration and social security | 45 | €39,175 | €18,482 | -€20,693 | -52.8% |
| Taxes | 450/3 | €1,783 | €8,439 | +€6,656 | +373% |
| Remuneration and social security | 454/9 | €37,392 | €10,043 | -€27,348 | -73.1% |
| Other amounts payable | 47/48 | €117,873 | €62,563 | -€55,311 | -46.9% |
| Accrued charges and deferred income | 492/3 | €42,744 | €1,764 | -€40,980 | -95.9% |
| Remuneration, social security and pensions | 62 | €401,520 | €373,769 | -€27,751 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,148 | €9,786 | -€6,363 | -39.4% |
| Other operating charges | 640/8 | €10,522 | €6,030 | -€4,492 | -42.7% |
| Gross operating margin | 9900 | €438,839 | €429,989 | -€8,850 | -2.0% |
| Operating profit (loss) | 9901 | €10,649 | €40,405 | +€29,756 | +279% |
| Financial income | 75/76B | €22 | €28 | +€6 | +26.8% |
| Recurring financial income | 75 | €22 | €28 | +€6 | +26.8% |
| Financial charges | 65/66B | €11,759 | €10,517 | -€1,242 | -10.6% |
| Recurring financial charges | 65 | €11,759 | €10,517 | -€1,242 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,088 | €29,916 | +€31,005 | |
| Income taxes | 67/77 | €2,762 | €7,114 | +€4,353 | +158% |
| Profit (loss) for the period | 9904 | -€3,850 | €22,802 | +€26,652 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,850 | €22,802 | +€26,652 |
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 25 October 2026 via checked.be.