ASAM: 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.
ASAM
Largest movements
- Receivables within one year -€53,415
down €53,415 (-37.5%), from €142,445 to €89,031
of which Trade receivables: -€65,660
- Cash +€22,900
up €22,900 (+114.3%), from €20,027 to €42,927
mainly Receivables within one year (+€53,415) and Depreciation (+€13,345)
- Tangible fixed assets +€16,304
up €16,304 (+29.1%), from €56,088 to €72,393
of which Other tangible fixed assets: +€20,185
- Current investments -€4,053
no longer reported in 2026 (was €4,053)
- Trade debts -€13,345
down €13,345 (-15.5%), from €85,985 to €72,640
- Tax, wage and social debts -€3,271
down €3,271 (-27.1%), from €12,056 to €8,786
of which Taxes: -€3,326
- Gross operating margin -€16,137
down €16,137 (-13.0%), from €123,932 to €107,795
- Taxes -€5,450
down €5,450 (-68.6%), from €7,939 to €2,489
- Staff costs -€2,529
down €2,529 (-2.8%), from €91,867 to €89,338
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €222,664 | €204,401 | -€18,263 | -8.2% |
| Fixed assets | 21/28 | €56,138 | €72,443 | +€16,304 | +29.0% |
| Tangible fixed assets | 22/27 | €56,088 | €72,393 | +€16,304 | +29.1% |
| Land and buildings | 22 | €44,144 | €42,888 | -€1,256 | -2.8% |
| Furniture and vehicles | 24 | €11,944 | €9,319 | -€2,625 | -22.0% |
| Other tangible fixed assets | 26 | - | €20,185 | +€20,185 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €166,526 | €131,958 | -€34,568 | -20.8% |
| Amounts receivable within one year | 40/41 | €142,445 | €89,031 | -€53,415 | -37.5% |
| Trade receivables | 40 | €121,403 | €55,744 | -€65,660 | -54.1% |
| Other amounts receivable | 41 | €21,042 | €33,287 | +€12,245 | +58.2% |
| Current investments | 50/53 | €4,053 | - | -€4,053 | |
| Cash at bank and in hand | 54/58 | €20,027 | €42,927 | +€22,900 | +114.3% |
| Total equity and liabilities | 10/49 | €222,664 | €204,401 | -€18,263 | -8.2% |
| Equity | 10/15 | €119,878 | €118,230 | -€1,647 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €57,878 | €56,230 | -€1,647 | -2.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €51,678 | €50,030 | -€1,647 | -3.2% |
| Amounts payable | 17/49 | €102,786 | €86,170 | -€16,616 | -16.2% |
| Amounts payable after more than one year | 17 | €4,745 | €4,745 | = | 0.0% |
| Other amounts payable | 178/9 | €4,745 | €4,745 | = | 0.0% |
| Amounts payable within one year | 42/48 | €98,041 | €81,425 | -€16,616 | -16.9% |
| Trade debts | 44 | €85,985 | €72,640 | -€13,345 | -15.5% |
| Suppliers | 440/4 | €85,985 | €72,640 | -€13,345 | -15.5% |
| Taxes, remuneration and social security | 45 | €12,056 | €8,786 | -€3,271 | -27.1% |
| Taxes | 450/3 | €3,326 | - | -€3,326 | |
| Remuneration and social security | 454/9 | €8,731 | €8,786 | +€55 | +0.6% |
| Remuneration, social security and pensions | 62 | €91,867 | €89,338 | -€2,529 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,643 | €13,345 | +€703 | +5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,023 | €6,390 | -€633 | -9.0% |
| Other operating charges | 640/8 | €1,463 | €2,294 | +€831 | +56.8% |
| Gross operating margin | 9900 | €123,932 | €107,795 | -€16,137 | -13.0% |
| Operating profit (loss) | 9901 | €10,937 | -€3,572 | -€14,509 | |
| Financial income | 75/76B | €4,637 | €4,458 | -€179 | -3.9% |
| Recurring financial income | 75 | €4,637 | €4,458 | -€179 | -3.9% |
| Financial charges | 65/66B | €323 | €44 | -€279 | -86.3% |
| Recurring financial charges | 65 | €323 | €44 | -€279 | -86.3% |
| Profit (loss) for the period before taxes | 9903 | €15,251 | €842 | -€14,409 | -94.5% |
| Income taxes | 67/77 | €7,939 | €2,489 | -€5,450 | -68.6% |
| Profit (loss) for the period | 9904 | €7,312 | -€1,647 | -€8,959 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,312 | -€1,647 | -€8,959 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.