AASV GROUP: 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.
AASV GROUP
Largest movements
- Receivables within one year +€64,763
up €64,763 (+55.8%), from €116,046 to €180,809
- Profit (loss) carried forward +€50,282
up €50,282 (+89.7%), from €56,073 to €106,356
- Debts after one year -€23,000
down €23,000 (-30.3%), from €76,000 to €53,000
- Tax, wage and social debts +€16,460
up €16,460 (+72.5%), from €22,700 to €39,160
of which Taxes: +€14,780
- Trade debts +€12,377
up €12,377 (+156%), from €7,941 to €20,318
- Current portion of long-term debt +€7,000
up €7,000 (+140%), from €5,000 to €12,000
- Gross operating margin -€21,486
down €21,486 (-16.1%), from €133,537 to €112,051
- Staff costs -€9,432
down €9,432 (-18.1%), from €51,971 to €42,539
- Financial charges -€2,591
down €2,591 (-52.4%), from €4,940 to €2,349
- Taxes -€1,708
down €1,708 (-12.0%), from €14,279 to €12,571
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 | €170,115 | €233,234 | +€63,119 | +37.1% |
| Fixed assets | 21/28 | €17,302 | €16,548 | -€754 | -4.4% |
| Tangible fixed assets | 22/27 | €17,302 | €16,548 | -€754 | -4.4% |
| Plant, machinery and equipment | 23 | €7,286 | €5,481 | -€1,805 | -24.8% |
| Other tangible fixed assets | 26 | €10,016 | €11,067 | +€1,051 | +10.5% |
| Current assets | 29/58 | €152,813 | €216,686 | +€63,873 | +41.8% |
| Stocks and contracts in progress | 3 | €4,846 | €5,466 | +€620 | +12.8% |
| Stocks | 30/36 | €4,846 | €5,466 | +€620 | +12.8% |
| Amounts receivable within one year | 40/41 | €116,046 | €180,809 | +€64,763 | +55.8% |
| Other amounts receivable | 41 | €116,046 | €180,809 | +€64,763 | +55.8% |
| Cash at bank and in hand | 54/58 | €31,921 | €30,411 | -€1,510 | -4.7% |
| Total equity and liabilities | 10/49 | €170,115 | €233,234 | +€63,119 | +37.1% |
| Equity | 10/15 | €58,473 | €108,756 | +€50,282 | +86.0% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,073 | €106,356 | +€50,282 | +89.7% |
| Amounts payable | 17/49 | €111,641 | €124,478 | +€12,837 | +11.5% |
| Amounts payable after more than one year | 17 | €76,000 | €53,000 | -€23,000 | -30.3% |
| Financial debts | 170/4 | €76,000 | €53,000 | -€23,000 | -30.3% |
| Amounts payable within one year | 42/48 | €35,641 | €71,478 | +€35,837 | +101% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €12,000 | +€7,000 | +140% |
| Trade debts | 44 | €7,941 | €20,318 | +€12,377 | +156% |
| Suppliers | 440/4 | €7,941 | €20,318 | +€12,377 | +156% |
| Taxes, remuneration and social security | 45 | €22,700 | €39,160 | +€16,460 | +72.5% |
| Taxes | 450/3 | €19,507 | €34,287 | +€14,780 | +75.8% |
| Remuneration and social security | 454/9 | €3,193 | €4,873 | +€1,680 | +52.6% |
| Remuneration, social security and pensions | 62 | €51,971 | €42,539 | -€9,432 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,333 | €4,309 | -€1,024 | -19.2% |
| Other operating charges | 640/8 | €941 | - | -€941 | |
| Gross operating margin | 9900 | €133,537 | €112,051 | -€21,486 | -16.1% |
| Operating profit (loss) | 9901 | €75,292 | €65,202 | -€10,090 | -13.4% |
| Financial charges | 65/66B | €4,940 | €2,349 | -€2,591 | -52.4% |
| Recurring financial charges | 65 | €4,940 | €2,349 | -€2,591 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €70,352 | €62,853 | -€7,499 | -10.7% |
| Income taxes | 67/77 | €14,279 | €12,571 | -€1,708 | -12.0% |
| Profit (loss) for the period | 9904 | €56,073 | €50,282 | -€5,791 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,073 | €50,282 | -€5,791 | -10.3% |
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 16 October 2026 via checked.be.