A.S.T.: 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.T.
Largest movements
- Cash +€56,518
up €56,518 (+15.1%), from €375,375 to €431,893
mainly Net result for the year (+€46,881) and Depreciation (+€28,330)
- Tangible fixed assets -€28,330
down €28,330 (-19.4%), from €146,281 to €117,951
of which Land and buildings: -€16,333
- Reserves +€46,881
up €46,881 (+15.2%), from €309,110 to €355,991
- Debts after one year -€16,667
down €16,667 (-6.8%), from €245,000 to €228,333
of which Financial debts: -€16,667
- Tax, wage and social debts +€12,493
up €12,493 (+73.0%), from €17,110 to €29,603
of which Taxes: +€11,236
- Gross operating margin +€10,169
up €10,169 (+6.9%), from €147,265 to €157,435
- Staff costs +€4,797
up €4,797 (+10.0%), from €48,167 to €52,964
- Taxes +€3,548
up €3,548 (+21.9%), from €16,227 to €19,774
- Financial income +€2,795
up €2,795 (+43.8%), from €6,376 to €9,170
- Financial charges -€2,432
down €2,432 (-16.0%), from €15,216 to €12,785
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €706,642 | €735,792 | +€29,150 | +4.1% |
| Fixed assets | 21/28 | €154,451 | €126,121 | -€28,330 | -18.3% |
| Tangible fixed assets | 22/27 | €146,281 | €117,951 | -€28,330 | -19.4% |
| Land and buildings | 22 | €130,667 | €114,333 | -€16,333 | -12.5% |
| Furniture and vehicles | 24 | €10,367 | €20 | -€10,346 | -99.8% |
| Other tangible fixed assets | 26 | €5,247 | €3,597 | -€1,650 | -31.4% |
| Financial fixed assets | 28 | €8,170 | €8,170 | = | 0.0% |
| Current assets | 29/58 | €552,191 | €609,671 | +€57,480 | +10.4% |
| Stocks and contracts in progress | 3 | €107,137 | €112,378 | +€5,241 | +4.9% |
| Stocks | 30/36 | €107,137 | €112,378 | +€5,241 | +4.9% |
| Amounts receivable within one year | 40/41 | €15,668 | €17,411 | +€1,743 | +11.1% |
| Trade receivables | 40 | €15,668 | €17,411 | +€1,743 | +11.1% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €375,375 | €431,893 | +€56,518 | +15.1% |
| Deferred charges and accrued income | 490/1 | €24,012 | €17,989 | -€6,023 | -25.1% |
| Total equity and liabilities | 10/49 | €706,642 | €735,792 | +€29,150 | +4.1% |
| Equity | 10/15 | €340,072 | €386,953 | +€46,881 | +13.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €309,110 | €355,991 | +€46,881 | +15.2% |
| Distributable reserves | 133 | €309,110 | €355,991 | +€46,881 | +15.2% |
| Profit (loss) carried forward | 14 | -€31,038 | -€31,038 | = | 0.0% |
| Amounts payable | 17/49 | €366,570 | €348,838 | -€17,731 | -4.8% |
| Amounts payable after more than one year | 17 | €245,000 | €228,333 | -€16,667 | -6.8% |
| Financial debts | 170/4 | €125,000 | €108,333 | -€16,667 | -13.3% |
| Other amounts payable | 178/9 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €120,128 | €119,461 | -€667 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €16,667 | = | 0.0% |
| Trade debts | 44 | €19,131 | €20,225 | +€1,094 | +5.7% |
| Suppliers | 440/4 | €19,131 | €20,225 | +€1,094 | +5.7% |
| Advances received on contracts in progress | 46 | €10,123 | €2,913 | -€7,210 | -71.2% |
| Taxes, remuneration and social security | 45 | €17,110 | €29,603 | +€12,493 | +73.0% |
| Taxes | 450/3 | €3,499 | €14,734 | +€11,236 | +321% |
| Remuneration and social security | 454/9 | €13,611 | €14,868 | +€1,257 | +9.2% |
| Other amounts payable | 47/48 | €57,097 | €50,054 | -€7,043 | -12.3% |
| Accrued charges and deferred income | 492/3 | €1,442 | €1,044 | -€398 | -27.6% |
| Remuneration, social security and pensions | 62 | €48,167 | €52,964 | +€4,797 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,671 | €28,330 | -€1,341 | -4.5% |
| Other operating charges | 640/8 | €5,317 | €5,871 | +€554 | +10.4% |
| Gross operating margin | 9900 | €147,265 | €157,435 | +€10,169 | +6.9% |
| Operating profit (loss) | 9901 | €64,110 | €70,270 | +€6,159 | +9.6% |
| Financial income | 75/76B | €6,376 | €9,170 | +€2,795 | +43.8% |
| Recurring financial income | 75 | €6,376 | €9,170 | +€2,795 | +43.8% |
| Financial charges | 65/66B | €15,216 | €12,785 | -€2,432 | -16.0% |
| Recurring financial charges | 65 | €15,216 | €12,785 | -€2,432 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €55,270 | €66,656 | +€11,386 | +20.6% |
| Income taxes | 67/77 | €16,227 | €19,774 | +€3,548 | +21.9% |
| Profit (loss) for the period | 9904 | €39,043 | €46,881 | +€7,838 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,043 | €46,881 | +€7,838 | +20.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.