A.S.P.: what changed
A.S.P.
Largest movements
- Current investments -€253,541
no longer reported in 2025 (was €253,541)
- Tangible fixed assets -€246,248
down €246,248 (-48.1%), from €511,924 to €265,677
of which Furniture and vehicles: -€193,986
- Receivables within one year +€42,017
up €42,017 (+11.3%), from €370,224 to €412,241
of which Trade receivables: +€62,282
- Stocks and contracts +€36,430
up €36,430 (+74.7%), from €48,793 to €85,223
of which Contracts in progress: +€18,662
- Cash +€26,844
up €26,844 (+7.5%), from €359,988 to €386,832
mainly Net result for the year (+€324,089) and Current investments (+€253,541)
- Debts after one year -€449,228
down €449,228 (-98.8%), from €454,658 to €5,430
of which Financial debts: -€449,228
- Profit (loss) carried forward +€324,089
up €324,089 (+70.4%), from €460,150 to €784,238
- Current portion of long-term debt -€108,814
no longer reported in 2025 (was €108,814)
- Tax, wage and social debts -€75,057
down €75,057 (-70.1%), from €107,044 to €31,987
of which Taxes: -€41,049
- Trade debts -€73,469
down €73,469 (-60.8%), from €120,786 to €47,317
- Gross operating margin -€266,577
down €266,577 (-21.7%), from €1.2m to €962,047
- Staff costs -€75,718
down €75,718 (-17.0%), from €446,375 to €370,657
- Depreciation -€75,415
down €75,415 (-48.0%), from €156,997 to €81,582
- Other operating charges +€51,843
up €51,843 (+1,520%), from €3,411 to €55,255
- Taxes -€40,197
down €40,197 (-26.5%), from €151,954 to €111,757
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,559,726 | €1,173,506 | -€386,219 | -24.8% |
| Fixed assets | 21/28 | €525,894 | €279,647 | -€246,248 | -46.8% |
| Tangible fixed assets | 22/27 | €511,924 | €265,677 | -€246,248 | -48.1% |
| Plant, machinery and equipment | 23 | €19,532 | €14,266 | -€5,266 | -27.0% |
| Furniture and vehicles | 24 | €254,863 | €60,877 | -€193,986 | -76.1% |
| Other tangible fixed assets | 26 | €237,529 | €190,534 | -€46,996 | -19.8% |
| Financial fixed assets | 28 | €13,970 | €13,970 | = | 0.0% |
| Current assets | 29/58 | €1,033,831 | €893,860 | -€139,972 | -13.5% |
| Stocks and contracts in progress | 3 | €48,793 | €85,223 | +€36,430 | +74.7% |
| Stocks | 30/36 | €48,793 | €66,560 | +€17,768 | +36.4% |
| Contracts in progress | 37 | - | €18,662 | +€18,662 | |
| Amounts receivable within one year | 40/41 | €370,224 | €412,241 | +€42,017 | +11.3% |
| Trade receivables | 40 | €172,930 | €235,212 | +€62,282 | +36.0% |
| Other amounts receivable | 41 | €197,294 | €177,029 | -€20,265 | -10.3% |
| Current investments | 50/53 | €253,541 | - | -€253,541 | |
| Cash at bank and in hand | 54/58 | €359,988 | €386,832 | +€26,844 | +7.5% |
| Deferred charges and accrued income | 490/1 | €1,286 | €9,564 | +€8,278 | +644% |
| Total equity and liabilities | 10/49 | €1,559,726 | €1,173,506 | -€386,219 | -24.8% |
| Equity | 10/15 | €764,608 | €1,088,697 | +€324,089 | +42.4% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €285,709 | €285,709 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,271 | €5,271 | = | 0.0% |
| Distributable reserves | 133 | €280,438 | €280,438 | = | 0.0% |
| Profit (loss) carried forward | 14 | €460,150 | €784,238 | +€324,089 | +70.4% |
| Amounts payable | 17/49 | €795,117 | €84,809 | -€710,308 | -89.3% |
| Amounts payable after more than one year | 17 | €454,658 | €5,430 | -€449,228 | -98.8% |
| Financial debts | 170/4 | €449,228 | - | -€449,228 | |
| Other amounts payable | 178/9 | €5,430 | €5,430 | = | 0.0% |
| Amounts payable within one year | 42/48 | €340,460 | €79,304 | -€261,156 | -76.7% |
| Current portion of amounts payable after more than one year | 42 | €108,814 | - | -€108,814 | |
| Trade debts | 44 | €120,786 | €47,317 | -€73,469 | -60.8% |
| Suppliers | 440/4 | €120,786 | €47,317 | -€73,469 | -60.8% |
| Taxes, remuneration and social security | 45 | €107,044 | €31,987 | -€75,057 | -70.1% |
| Taxes | 450/3 | €61,211 | €20,161 | -€41,049 | -67.1% |
| Remuneration and social security | 454/9 | €45,833 | €11,826 | -€34,007 | -74.2% |
| Other amounts payable | 47/48 | €3,816 | - | -€3,816 | |
| Accrued charges and deferred income | 492/3 | - | €76 | +€76 | |
| Remuneration, social security and pensions | 62 | €446,375 | €370,657 | -€75,718 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,997 | €81,582 | -€75,415 | -48.0% |
| Other operating charges | 640/8 | €3,411 | €55,255 | +€51,843 | +1,520% |
| Gross operating margin | 9900 | €1,228,624 | €962,047 | -€266,577 | -21.7% |
| Operating profit (loss) | 9901 | €621,841 | €454,554 | -€167,288 | -26.9% |
| Financial income | 75/76B | €18,920 | €19,783 | +€863 | +4.6% |
| Recurring financial income | 75 | €18,920 | €19,783 | +€863 | +4.6% |
| Financial charges | 65/66B | €29,430 | €38,492 | +€9,062 | +30.8% |
| Recurring financial charges | 65 | €29,430 | €38,492 | +€9,062 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €611,331 | €435,845 | -€175,486 | -28.7% |
| Income taxes | 67/77 | €151,954 | €111,757 | -€40,197 | -26.5% |
| Profit (loss) for the period | 9904 | €459,378 | €324,089 | -€135,289 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €459,378 | €324,089 | -€135,289 | -29.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.