A.S. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Tangible fixed assets -€13,556
down €13,556 (-10.4%), from €129,807 to €116,251
of which Furniture and vehicles: -€6,806
- Cash -€13,523
down €13,523 (-74.1%), from €18,252 to €4,729
mainly Net result for the year (-€12,423) and Debts after one year (-€7,051)
- Profit (loss) carried forward -€12,423
down €12,423 (-4.5%), from €275,901 to €263,478
- Debts after one year -€7,051
down €7,051 (-24.9%), from €28,309 to €21,258
- Tax, wage and social debts -€4,851
down €4,851 (-86.5%), from €5,605 to €754
- Gross operating margin +€47,271
up €47,271 (+97.7%), from -€48,405 to -€1,134
- Depreciation -€9,221
down €9,221 (-47.0%), from €19,621 to €10,400
- Taxes +€5,080
up €5,080, from -€4,961 to €119
- Financial charges -€710
down €710 (-33.6%), from €2,112 to €1,402
of which Financial charges: -€457
- Financial income +€503
up €503 (+25.2%), from €2,000 to €2,503
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 | €339,808 | €311,141 | -€28,667 | -8.4% |
| Fixed assets | 21/28 | €204,807 | €191,251 | -€13,556 | -6.6% |
| Tangible fixed assets | 22/27 | €129,807 | €116,251 | -€13,556 | -10.4% |
| Land and buildings | 22 | €113,904 | €110,880 | -€3,024 | -2.7% |
| Plant, machinery and equipment | 23 | €6,178 | €2,452 | -€3,726 | -60.3% |
| Furniture and vehicles | 24 | €9,725 | €2,919 | -€6,806 | -70.0% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €135,001 | €119,890 | -€15,111 | -11.2% |
| Amounts receivable within one year | 40/41 | €116,749 | €115,161 | -€1,588 | -1.4% |
| Trade receivables | 40 | €1,252 | €2,995 | +€1,743 | +139% |
| Other amounts receivable | 41 | €115,497 | €112,166 | -€3,331 | -2.9% |
| Cash at bank and in hand | 54/58 | €18,252 | €4,729 | -€13,523 | -74.1% |
| Total equity and liabilities | 10/49 | €339,808 | €311,141 | -€28,667 | -8.4% |
| Equity | 10/15 | €294,501 | €282,078 | -€12,423 | -4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,901 | €263,478 | -€12,423 | -4.5% |
| Amounts payable | 17/49 | €45,307 | €29,063 | -€16,244 | -35.9% |
| Amounts payable after more than one year | 17 | €28,309 | €21,258 | -€7,051 | -24.9% |
| Financial debts | 170/4 | €28,309 | €21,258 | -€7,051 | -24.9% |
| Amounts payable within one year | 42/48 | €16,998 | €7,805 | -€9,193 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €9,183 | €7,051 | -€2,132 | -23.2% |
| Trade debts | 44 | €2,210 | - | -€2,210 | |
| Suppliers | 440/4 | €2,210 | - | -€2,210 | |
| Taxes, remuneration and social security | 45 | €5,605 | €754 | -€4,851 | -86.5% |
| Taxes | 450/3 | €5,605 | €754 | -€4,851 | -86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,621 | €10,400 | -€9,221 | -47.0% |
| Other operating charges | 640/8 | €1,956 | €1,871 | -€85 | -4.3% |
| Gross operating margin | 9900 | -€48,405 | -€1,134 | +€47,271 | +97.7% |
| Operating profit (loss) | 9901 | -€69,982 | -€13,405 | +€56,577 | +80.8% |
| Financial income | 75/76B | €2,000 | €2,503 | +€503 | +25.2% |
| Recurring financial income | 75 | €2,000 | €2,503 | +€503 | +25.2% |
| Financial charges | 65/66B | €2,112 | €1,402 | -€710 | -33.6% |
| Recurring financial charges | 65 | €1,499 | €1,042 | -€457 | -30.5% |
| Non-recurring financial charges | 66B | €613 | €360 | -€253 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | -€70,094 | -€12,304 | +€57,790 | +82.4% |
| Income taxes | 67/77 | -€4,961 | €119 | +€5,080 | |
| Profit (loss) for the period | 9904 | -€65,133 | -€12,423 | +€52,710 | +80.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,133 | -€12,423 | +€52,710 | +80.9% |
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 16 October 2026 via checked.be.