A.S.P.: 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.P.
Largest movements
- Cash -€223,351
down €223,351 (-25.6%), from €871,587 to €648,236
mainly Provisions (-€272,693) and Contributions, distributions and other (-€236,496)
- Receivables within one year +€205,054
up €205,054 (+17.6%), from €1.2m to €1.4m
of which Trade receivables: +€211,712
- Trade debts +€283,527
up €283,527 (+101%), from €282,040 to €565,567
- Provisions -€272,693
no longer reported in 2025 (was €272,693)
- Reserves -€128,000
down €128,000 (-27.5%), from €465,150 to €337,150
of which Distributable reserves: -€165,150
- Profit (loss) carried forward +€113,206
up €113,206 (+12.7%), from €892,239 to €1.0m
- Other debts -€54,124
no longer reported in 2025 (was €54,124)
- Provisions -€272,693
new in 2025: -€272,693
- Gross operating margin -€129,436
down €129,436 (-57.3%), from €225,794 to €96,359
- Taxes +€28,658
up €28,658 (+52.7%), from €54,341 to €83,000
- Financial income -€3,682
down €3,682 (-63.7%), from €5,782 to €2,100
- Staff costs +€2,670
up €2,670 (+6.3%), from €42,647 to €45,317
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 | €2,054,755 | €2,044,909 | -€9,846 | -0.5% |
| Fixed assets | 21/28 | €19,756 | €27,758 | +€8,002 | +40.5% |
| Tangible fixed assets | 22/27 | €11,749 | €19,751 | +€8,002 | +68.1% |
| Plant, machinery and equipment | 23 | €11,151 | €19,263 | +€8,112 | +72.7% |
| Other tangible fixed assets | 26 | €598 | €489 | -€110 | -18.3% |
| Financial fixed assets | 28 | €8,007 | €8,007 | = | 0.0% |
| Current assets | 29/58 | €2,034,999 | €2,017,151 | -€17,848 | -0.9% |
| Amounts receivable within one year | 40/41 | €1,162,341 | €1,367,396 | +€205,054 | +17.6% |
| Trade receivables | 40 | €1,149,088 | €1,360,799 | +€211,712 | +18.4% |
| Other amounts receivable | 41 | €13,254 | €6,596 | -€6,657 | -50.2% |
| Cash at bank and in hand | 54/58 | €871,587 | €648,236 | -€223,351 | -25.6% |
| Deferred charges and accrued income | 490/1 | €1,071 | €1,519 | +€448 | +41.9% |
| Total equity and liabilities | 10/49 | €2,054,755 | €2,044,909 | -€9,846 | -0.5% |
| Equity | 10/15 | €1,407,389 | €1,392,595 | -€14,794 | -1.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €465,150 | €337,150 | -€128,000 | -27.5% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €37,150 | +€37,150 | |
| Distributable reserves | 133 | €460,150 | €295,000 | -€165,150 | -35.9% |
| Profit (loss) carried forward | 14 | €892,239 | €1,005,445 | +€113,206 | +12.7% |
| Provisions and deferred taxes | 16 | €272,693 | - | -€272,693 | |
| Provisions for liabilities and charges | 160/5 | €272,693 | - | -€272,693 | |
| Pensions and similar obligations | 160 | €272,693 | - | -€272,693 | |
| Amounts payable | 17/49 | €374,673 | €652,314 | +€277,641 | +74.1% |
| Amounts payable within one year | 42/48 | €368,688 | €632,746 | +€264,058 | +71.6% |
| Trade debts | 44 | €282,040 | €565,567 | +€283,527 | +101% |
| Suppliers | 440/4 | €282,040 | €565,567 | +€283,527 | +101% |
| Taxes, remuneration and social security | 45 | €32,524 | €67,179 | +€34,655 | +107% |
| Taxes | 450/3 | €13,650 | €47,685 | +€34,035 | +249% |
| Remuneration and social security | 454/9 | €18,875 | €19,494 | +€620 | +3.3% |
| Other amounts payable | 47/48 | €54,124 | - | -€54,124 | |
| Accrued charges and deferred income | 492/3 | €5,985 | €19,568 | +€13,583 | +227% |
| Remuneration, social security and pensions | 62 | €42,647 | €45,317 | +€2,670 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,824 | €6,418 | +€2,594 | +67.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€272,693 | -€272,693 | |
| Other operating charges | 640/8 | €1,621 | €1,806 | +€186 | +11.4% |
| Non-recurring operating charges | 66A | - | €6,581 | +€6,581 | |
| Gross operating margin | 9900 | €225,794 | €96,359 | -€129,436 | -57.3% |
| Operating profit (loss) | 9901 | €177,703 | €308,929 | +€131,227 | +73.8% |
| Financial income | 75/76B | €5,782 | €2,100 | -€3,682 | -63.7% |
| Recurring financial income | 75 | €5,782 | €2,100 | -€3,682 | -63.7% |
| Financial charges | 65/66B | €4,095 | €6,328 | +€2,232 | +54.5% |
| Recurring financial charges | 65 | €4,095 | €6,328 | +€2,232 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | €179,389 | €304,701 | +€125,313 | +69.9% |
| Income taxes | 67/77 | €54,341 | €83,000 | +€28,658 | +52.7% |
| Profit (loss) for the period | 9904 | €125,047 | €221,702 | +€96,654 | +77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €125,047 | €221,702 | +€96,654 | +77.3% |
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 20 October 2026 via checked.be.