AS GROUP: what changed
Two fiscal 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.
AS GROUP
Largest movements
- Receivables within one year -€41,222
down €41,222 (-15.6%), from €264,139 to €222,917
of which Trade receivables: -€22,857
- Cash -€5,447
down €5,447 (-24.6%), from €22,100 to €16,653
mainly Tax, wage and social debts (-€44,461) and Trade debts (-€15,533)
- Tax, wage and social debts -€44,461
down €44,461 (-91.1%), from €48,819 to €4,359
of which Remuneration and social security: -€35,982
- Profit (loss) carried forward +€18,585
up €18,585 (+6.9%), from €270,808 to €289,394
- Trade debts -€15,533
down €15,533 (-66.1%), from €23,490 to €7,956
- Current portion of long-term debt -€10,003
down €10,003 (-73.4%), from €13,629 to €3,626
- Short-term financial debts +€6,197
up €6,197 (+1054.3%), from €588 to €6,784
- Staff costs -€55,046
down €55,046 (-22.1%), from €249,087 to €194,041
- Gross operating margin -€43,921
down €43,921 (-16.2%), from €271,746 to €227,825
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €374,311 | €325,246 | -€49,065 | -13.1% |
| Fixed assets | 21/28 | €10,765 | €8,369 | -€2,396 | -22.3% |
| Tangible fixed assets | 22/27 | €10,615 | €8,219 | -€2,396 | -22.6% |
| Plant, machinery and equipment | 23 | €299 | - | -€299 | |
| Furniture and vehicles | 24 | €10,316 | €8,219 | -€2,097 | -20.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €363,546 | €316,877 | -€46,669 | -12.8% |
| Amounts receivable after more than one year | 29 | €76,800 | €76,800 | = | 0.0% |
| Other amounts receivable | 291 | €76,800 | €76,800 | = | 0.0% |
| Stocks and contracts in progress | 3 | €507 | €507 | = | 0.0% |
| Stocks | 30/36 | €507 | €507 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €264,139 | €222,917 | -€41,222 | -15.6% |
| Trade receivables | 40 | €102,526 | €79,669 | -€22,857 | -22.3% |
| Other amounts receivable | 41 | €161,613 | €143,248 | -€18,365 | -11.4% |
| Cash at bank and in hand | 54/58 | €22,100 | €16,653 | -€5,447 | -24.6% |
| Total equity and liabilities | 10/49 | €374,311 | €325,246 | -€49,065 | -13.1% |
| Equity | 10/15 | €287,435 | €302,521 | +€15,085 | +5.2% |
| Contributions | 10/11 | €12,400 | €8,900 | -€3,500 | -28.2% |
| Reserves | 13 | €4,227 | €4,227 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,367 | €2,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | €270,808 | €289,394 | +€18,585 | +6.9% |
| Amounts payable | 17/49 | €86,876 | €22,725 | -€64,150 | -73.8% |
| Amounts payable within one year | 42/48 | €86,876 | €22,725 | -€64,150 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €13,629 | €3,626 | -€10,003 | -73.4% |
| Financial debts | 43 | €588 | €6,784 | +€6,197 | +1054.3% |
| Credit institutions | 430/8 | €588 | €6,784 | +€6,197 | +1054.3% |
| Trade debts | 44 | €23,490 | €7,956 | -€15,533 | -66.1% |
| Suppliers | 440/4 | €23,490 | €7,956 | -€15,533 | -66.1% |
| Taxes, remuneration and social security | 45 | €48,819 | €4,359 | -€44,461 | -91.1% |
| Taxes | 450/3 | €12,837 | €4,359 | -€8,479 | -66.0% |
| Remuneration and social security | 454/9 | €35,982 | - | -€35,982 | |
| Other amounts payable | 47/48 | €350 | - | -€350 | |
| Non-recurring operating income | 76A | - | €643 | +€643 | |
| Remuneration, social security and pensions | 62 | €249,087 | €194,041 | -€55,046 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,682 | €3,039 | -€643 | -17.5% |
| Other operating charges | 640/8 | €1,613 | €2,810 | +€1,197 | +74.2% |
| Gross operating margin | 9900 | €271,746 | €227,825 | -€43,921 | -16.2% |
| Operating profit (loss) | 9901 | €17,364 | €27,935 | +€10,571 | +60.9% |
| Financial charges | 65/66B | €941 | €3,249 | +€2,308 | +245.4% |
| Recurring financial charges | 65 | €941 | €3,249 | +€2,308 | +245.4% |
| Profit (loss) for the period before taxes | 9903 | €16,423 | €24,686 | +€8,263 | +50.3% |
| Income taxes | 67/77 | €4,033 | €6,100 | +€2,068 | +51.3% |
| Profit (loss) for the period | 9904 | €12,391 | €18,585 | +€6,195 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,391 | €18,585 | +€6,195 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.