AS SECURITY: 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.
AS SECURITY
Largest movements
- Cash +€14,234
up €14,234 (+12.9%), from €110,393 to €124,626
mainly Other debts (+€22,193) and Net result for the year (+€20,146)
- Receivables within one year -€7,783
down €7,783 (-69.4%), from €11,209 to €3,427
of which Trade receivables: -€8,444
- Tangible fixed assets -€5,074
down €5,074 (-37.0%), from €13,714 to €8,639
of which Furniture and vehicles: -€4,944
- Other debts +€22,193
up €22,193 (+195%), from €11,402 to €33,595
- Reserves -€13,518
down €13,518 (-25.3%), from €53,518 to €40,000
- Tax, wage and social debts -€5,025
down €5,025 (-39.3%), from €12,800 to €7,775
- Debts after one year -€2,562
down €2,562 (-53.7%), from €4,772 to €2,210
- Trade debts -€1,424
down €1,424 (-37.5%), from €3,801 to €2,376
- Gross operating margin -€17,375
down €17,375 (-34.0%), from €51,122 to €33,747
- Taxes -€5,559
down €5,559 (-46.9%), from €11,845 to €6,286
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 | €137,444 | €137,348 | -€95 | -0.1% |
| Fixed assets | 21/28 | €14,342 | €9,018 | -€5,324 | -37.1% |
| Intangible fixed assets | 21 | €629 | €379 | -€250 | -39.8% |
| Tangible fixed assets | 22/27 | €13,714 | €8,639 | -€5,074 | -37.0% |
| Plant, machinery and equipment | 23 | €639 | €509 | -€130 | -20.4% |
| Furniture and vehicles | 24 | €13,075 | €8,131 | -€4,944 | -37.8% |
| Current assets | 29/58 | €123,101 | €128,330 | +€5,229 | +4.2% |
| Amounts receivable within one year | 40/41 | €11,209 | €3,427 | -€7,783 | -69.4% |
| Trade receivables | 40 | €11,149 | €2,705 | -€8,444 | -75.7% |
| Other amounts receivable | 41 | €60 | €721 | +€661 | +1,103% |
| Cash at bank and in hand | 54/58 | €110,393 | €124,626 | +€14,234 | +12.9% |
| Deferred charges and accrued income | 490/1 | €1,499 | €277 | -€1,222 | -81.5% |
| Total equity and liabilities | 10/49 | €137,444 | €137,348 | -€95 | -0.1% |
| Equity | 10/15 | €102,202 | €88,829 | -€13,372 | -13.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €53,518 | €40,000 | -€13,518 | -25.3% |
| Distributable reserves | 133 | €53,518 | €40,000 | -€13,518 | -25.3% |
| Profit (loss) carried forward | 14 | €28,224 | €28,369 | +€146 | +0.5% |
| Amounts payable | 17/49 | €35,242 | €48,519 | +€13,277 | +37.7% |
| Amounts payable after more than one year | 17 | €4,772 | €2,210 | -€2,562 | -53.7% |
| Financial debts | 170/4 | €4,772 | €2,210 | -€2,562 | -53.7% |
| Amounts payable within one year | 42/48 | €30,470 | €46,308 | +€15,839 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €2,466 | €2,562 | +€95 | +3.9% |
| Trade debts | 44 | €3,801 | €2,376 | -€1,424 | -37.5% |
| Suppliers | 440/4 | €3,801 | €2,376 | -€1,424 | -37.5% |
| Taxes, remuneration and social security | 45 | €12,800 | €7,775 | -€5,025 | -39.3% |
| Taxes | 450/3 | €12,800 | €7,775 | -€5,025 | -39.3% |
| Other amounts payable | 47/48 | €11,402 | €33,595 | +€22,193 | +195% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,892 | €5,561 | -€331 | -5.6% |
| Other operating charges | 640/8 | €1,447 | €1,003 | -€444 | -30.7% |
| Gross operating margin | 9900 | €51,122 | €33,747 | -€17,375 | -34.0% |
| Operating profit (loss) | 9901 | €43,783 | €27,183 | -€16,600 | -37.9% |
| Financial income | 75/76B | €134 | €2 | -€132 | -98.6% |
| Recurring financial income | 75 | €134 | €2 | -€132 | -98.6% |
| Financial charges | 65/66B | €972 | €754 | -€219 | -22.5% |
| Recurring financial charges | 65 | €972 | €754 | -€219 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €42,945 | €26,431 | -€16,514 | -38.5% |
| Income taxes | 67/77 | €11,845 | €6,286 | -€5,559 | -46.9% |
| Profit (loss) for the period | 9904 | €31,100 | €20,146 | -€10,955 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,100 | €20,146 | -€10,955 | -35.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.