A-STEEL: 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-STEEL
Largest movements
- Tangible fixed assets -€93,668
down €93,668 (-23.2%), from €404,089 to €310,421
of which Furniture and vehicles: -€63,733
- Stocks and contracts -€54,649
down €54,649 (-39.3%), from €139,013 to €84,364
of which Contracts in progress: -€51,723
- Receivables within one year -€54,484
down €54,484 (-12.4%), from €439,677 to €385,194
of which Other amounts receivable: -€71,919
- Reserves -€117,714
down €117,714 (-76.9%), from €153,156 to €35,442
- Other debts +€115,777
up €115,777 (+929,186%), from €12 to €115,789
- Debts after one year -€85,305
down €85,305 (-43.2%), from €197,320 to €112,015
- Trade debts -€63,887
down €63,887 (-12.8%), from €500,451 to €436,564
- Tax, wage and social debts -€34,531
down €34,531 (-32.1%), from €107,428 to €72,897
of which Taxes: -€47,557
- Staff costs +€131,315
up €131,315 (+32.5%), from €404,647 to €535,963
- Gross operating margin -€13,542
down €13,542 (-2.4%), from €555,877 to €542,335
- Taxes -€8,071
down €8,071 (-97.5%), from €8,275 to €204
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 | €1,079,438 | €869,962 | -€209,477 | -19.4% |
| Fixed assets | 21/28 | €423,602 | €324,333 | -€99,269 | -23.4% |
| Intangible fixed assets | 21 | €19,014 | €13,412 | -€5,601 | -29.5% |
| Tangible fixed assets | 22/27 | €404,089 | €310,421 | -€93,668 | -23.2% |
| Plant, machinery and equipment | 23 | €92,539 | €76,292 | -€16,248 | -17.6% |
| Furniture and vehicles | 24 | €262,060 | €198,327 | -€63,733 | -24.3% |
| Leasing and similar rights | 25 | €41,295 | €28,603 | -€12,693 | -30.7% |
| Other tangible fixed assets | 26 | €8,194 | €7,200 | -€994 | -12.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €655,836 | €545,629 | -€110,208 | -16.8% |
| Stocks and contracts in progress | 3 | €139,013 | €84,364 | -€54,649 | -39.3% |
| Stocks | 30/36 | €20,468 | €17,542 | -€2,926 | -14.3% |
| Contracts in progress | 37 | €118,545 | €66,822 | -€51,723 | -43.6% |
| Amounts receivable within one year | 40/41 | €439,677 | €385,194 | -€54,484 | -12.4% |
| Trade receivables | 40 | €295,224 | €312,659 | +€17,436 | +5.9% |
| Other amounts receivable | 41 | €144,454 | €72,534 | -€71,919 | -49.8% |
| Cash at bank and in hand | 54/58 | €62,917 | €65,062 | +€2,145 | +3.4% |
| Deferred charges and accrued income | 490/1 | €14,229 | €11,009 | -€3,220 | -22.6% |
| Total equity and liabilities | 10/49 | €1,079,438 | €869,962 | -€209,477 | -19.4% |
| Equity | 10/15 | €163,156 | €45,442 | -€117,714 | -72.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €153,156 | €35,442 | -€117,714 | -76.9% |
| Distributable reserves | 133 | €153,156 | €35,442 | -€117,714 | -76.9% |
| Amounts payable | 17/49 | €916,282 | €824,520 | -€91,762 | -10.0% |
| Amounts payable after more than one year | 17 | €197,320 | €112,015 | -€85,305 | -43.2% |
| Financial debts | 170/4 | €197,320 | €112,015 | -€85,305 | -43.2% |
| Amounts payable within one year | 42/48 | €718,962 | €710,555 | -€8,407 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €81,653 | €85,305 | +€3,652 | +4.5% |
| Financial debts | 43 | €29,418 | €0 | -€29,418 | -100% |
| Credit institutions | 430/8 | €29,418 | €0 | -€29,418 | -100% |
| Trade debts | 44 | €500,451 | €436,564 | -€63,887 | -12.8% |
| Suppliers | 440/4 | €500,451 | €436,564 | -€63,887 | -12.8% |
| Taxes, remuneration and social security | 45 | €107,428 | €72,897 | -€34,531 | -32.1% |
| Taxes | 450/3 | €56,049 | €8,492 | -€47,557 | -84.8% |
| Remuneration and social security | 454/9 | €51,379 | €64,405 | +€13,026 | +25.4% |
| Other amounts payable | 47/48 | €12 | €115,789 | +€115,777 | +929,186% |
| Accrued charges and deferred income | 492/3 | - | €1,950 | +€1,950 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €404,647 | €535,963 | +€131,315 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,624 | €107,884 | -€2,740 | -2.5% |
| Other operating charges | 640/8 | €2,468 | €5,000 | +€2,533 | +103% |
| Non-recurring operating charges | 66A | €1,969 | €0 | -€1,969 | -100% |
| Gross operating margin | 9900 | €555,877 | €542,335 | -€13,542 | -2.4% |
| Operating profit (loss) | 9901 | €36,169 | -€106,512 | -€142,681 | |
| Financial income | 75/76B | €9,015 | €4,020 | -€4,995 | -55.4% |
| Recurring financial income | 75 | €9,015 | €4,020 | -€4,995 | -55.4% |
| Financial charges | 65/66B | €15,702 | €15,018 | -€683 | -4.4% |
| Recurring financial charges | 65 | €15,702 | €15,018 | -€683 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €29,482 | -€117,510 | -€146,992 | |
| Income taxes | 67/77 | €8,275 | €204 | -€8,071 | -97.5% |
| Profit (loss) for the period | 9904 | €21,207 | -€117,714 | -€138,922 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,207 | -€117,714 | -€138,922 |
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 26 October 2026 via checked.be.