AS-TRADING: 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-TRADING
Largest movements
- Cash -€34,678
down €34,678 (-25.9%), from €133,732 to €99,055
mainly Tax, wage and social debts (-€76,949) and Receivables within one year (-€27,466)
- Tangible fixed assets -€29,298
down €29,298 (-20.8%), from €140,590 to €111,293
of which Furniture and vehicles: -€29,636
- Receivables within one year +€27,466
up €27,466 (+69.8%), from €39,371 to €66,837
of which Other amounts receivable: +€15,570
- Tax, wage and social debts -€76,949
down €76,949 (-97.5%), from €78,945 to €1,996
- Reserves +€64,040
up €64,040 (+52.7%), from €121,632 to €185,672
- Debts after one year -€24,694
down €24,694 (-29.3%), from €84,216 to €59,523
- Gross operating margin -€110,201
down €110,201 (-46.8%), from €235,709 to €125,509
- Taxes -€47,344
down €47,344 (-67.4%), from €70,240 to €22,896
- Other operating charges -€10,624
down €10,624 (-87.5%), from €12,137 to €1,513
- Depreciation +€6,018
up €6,018 (+21.5%), from €27,949 to €33,967
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 | €313,694 | €277,284 | -€36,410 | -11.6% |
| Fixed assets | 21/28 | €140,590 | €111,393 | -€29,197 | -20.8% |
| Tangible fixed assets | 22/27 | €140,590 | €111,293 | -€29,298 | -20.8% |
| Plant, machinery and equipment | 23 | €1,805 | €2,143 | +€338 | +18.7% |
| Furniture and vehicles | 24 | €138,785 | €109,149 | -€29,636 | -21.4% |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €173,103 | €165,891 | -€7,212 | -4.2% |
| Amounts receivable within one year | 40/41 | €39,371 | €66,837 | +€27,466 | +69.8% |
| Trade receivables | 40 | €13,027 | €24,922 | +€11,896 | +91.3% |
| Other amounts receivable | 41 | €26,344 | €41,914 | +€15,570 | +59.1% |
| Cash at bank and in hand | 54/58 | €133,732 | €99,055 | -€34,678 | -25.9% |
| Total equity and liabilities | 10/49 | €313,694 | €277,284 | -€36,410 | -11.6% |
| Equity | 10/15 | €126,632 | €190,672 | +€64,040 | +50.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €121,632 | €185,672 | +€64,040 | +52.7% |
| Distributable reserves | 133 | €121,632 | €185,672 | +€64,040 | +52.7% |
| Amounts payable | 17/49 | €187,061 | €86,612 | -€100,450 | -53.7% |
| Amounts payable after more than one year | 17 | €84,216 | €59,523 | -€24,694 | -29.3% |
| Financial debts | 170/4 | €84,216 | €59,523 | -€24,694 | -29.3% |
| Amounts payable within one year | 42/48 | €102,845 | €26,690 | -€76,155 | -74.0% |
| Current portion of amounts payable after more than one year | 42 | €23,673 | €24,694 | +€1,021 | +4.3% |
| Trade debts | 44 | €227 | - | -€227 | |
| Suppliers | 440/4 | €227 | - | -€227 | |
| Taxes, remuneration and social security | 45 | €78,945 | €1,996 | -€76,949 | -97.5% |
| Taxes | 450/3 | €78,945 | €1,996 | -€76,949 | -97.5% |
| Accrued charges and deferred income | 492/3 | - | €399 | +€399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,949 | €33,967 | +€6,018 | +21.5% |
| Other operating charges | 640/8 | €12,137 | €1,513 | -€10,624 | -87.5% |
| Gross operating margin | 9900 | €235,709 | €125,509 | -€110,201 | -46.8% |
| Operating profit (loss) | 9901 | €195,623 | €90,028 | -€105,595 | -54.0% |
| Financial income | 75/76B | €0 | €1,313 | +€1,313 | +6,566,900% |
| Recurring financial income | 75 | €0 | €1,313 | +€1,313 | +6,566,900% |
| Financial charges | 65/66B | €3,751 | €4,405 | +€654 | +17.4% |
| Recurring financial charges | 65 | €3,751 | €4,405 | +€654 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €191,872 | €86,937 | -€104,936 | -54.7% |
| Income taxes | 67/77 | €70,240 | €22,896 | -€47,344 | -67.4% |
| Profit (loss) for the period | 9904 | €121,632 | €64,040 | -€57,592 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,632 | €64,040 | -€57,592 | -47.3% |
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 18 October 2026 via checked.be.