AS TRADE: 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 TRADE
Largest movements
- Cash +€12,817
up €12,817 (+70.2%), from €18,270 to €31,088
mainly Contributions, distributions and other (+€12,400) and Receivables within one year (+€4,881)
- Receivables within one year -€4,881
down €4,881 (-86.7%), from €5,629 to €748
of which Other amounts receivable: -€5,395
- Tangible fixed assets +€622
up €622 (+212%), from €293 to €915
- Deferred charges and accrued income +€566
up €566 (+70.2%), from €806 to €1,372
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Other debts -€4,801
down €4,801 (-93.6%), from €5,132 to €331
- Profit (loss) carried forward +€3,911
up €3,911 (+112%), from €3,500 to €7,411
- Tax, wage and social debts -€1,751
down €1,751 (-20.0%), from €8,761 to €7,010
of which Remuneration and social security: -€4,251
- Trade debts -€714
down €714 (-31.4%), from €2,277 to €1,563
- Staff costs +€10,185
new in 2025: €10,185
- Gross operating margin +€6,688
up €6,688 (+63.9%), from €10,470 to €17,158
- Taxes -€993
down €993 (-30.0%), from €3,311 to €2,318
- Other operating charges -€633
down €633 (-75.1%), from €843 to €210
- Depreciation -€232
down €232 (-34.1%), from €680 to €448
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 | €25,870 | €34,914 | +€9,044 | +35.0% |
| Fixed assets | 21/28 | €293 | €915 | +€622 | +212% |
| Tangible fixed assets | 22/27 | €293 | €915 | +€622 | +212% |
| Plant, machinery and equipment | 23 | €293 | €915 | +€622 | +212% |
| Current assets | 29/58 | €25,577 | €34,000 | +€8,422 | +32.9% |
| Stocks and contracts in progress | 3 | €872 | €792 | -€80 | -9.2% |
| Stocks | 30/36 | €872 | €792 | -€80 | -9.2% |
| Amounts receivable within one year | 40/41 | €5,629 | €748 | -€4,881 | -86.7% |
| Trade receivables | 40 | - | €514 | +€514 | |
| Other amounts receivable | 41 | €5,629 | €233 | -€5,395 | -95.9% |
| Cash at bank and in hand | 54/58 | €18,270 | €31,088 | +€12,817 | +70.2% |
| Deferred charges and accrued income | 490/1 | €806 | €1,372 | +€566 | +70.2% |
| Total equity and liabilities | 10/49 | €25,870 | €34,914 | +€9,044 | +35.0% |
| Equity | 10/15 | €9,700 | €26,011 | +€16,311 | +168% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Profit (loss) carried forward | 14 | €3,500 | €7,411 | +€3,911 | +112% |
| Amounts payable | 17/49 | €16,170 | €8,904 | -€7,267 | -44.9% |
| Amounts payable within one year | 42/48 | €16,170 | €8,904 | -€7,267 | -44.9% |
| Trade debts | 44 | €2,277 | €1,563 | -€714 | -31.4% |
| Suppliers | 440/4 | €2,277 | €1,563 | -€714 | -31.4% |
| Taxes, remuneration and social security | 45 | €8,761 | €7,010 | -€1,751 | -20.0% |
| Taxes | 450/3 | €3,311 | €5,810 | +€2,499 | +75.5% |
| Remuneration and social security | 454/9 | €5,451 | €1,200 | -€4,251 | -78.0% |
| Other amounts payable | 47/48 | €5,132 | €331 | -€4,801 | -93.6% |
| Remuneration, social security and pensions | 62 | - | €10,185 | +€10,185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €680 | €448 | -€232 | -34.1% |
| Other operating charges | 640/8 | €843 | €210 | -€633 | -75.1% |
| Gross operating margin | 9900 | €10,470 | €17,158 | +€6,688 | +63.9% |
| Operating profit (loss) | 9901 | €8,946 | €6,314 | -€2,632 | -29.4% |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €106 | €105 | -€1 | -1.3% |
| Recurring financial charges | 65 | €106 | €105 | -€1 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €8,840 | €6,229 | -€2,611 | -29.5% |
| Income taxes | 67/77 | €3,311 | €2,318 | -€993 | -30.0% |
| Profit (loss) for the period | 9904 | €5,530 | €3,911 | -€1,619 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,530 | €3,911 | -€1,619 | -29.3% |
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 19 October 2026 via checked.be.