ASAP: 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.
ASAP
Largest movements
- Financial fixed assets +€175,000
up €175,000 (+139.9%), from €125,050 to €300,050
- Tangible fixed assets +€98,637
up €98,637 (+9.9%), from €991,781 to €1.1m
of which Plant, machinery and equipment: +€147,010
- Receivables within one year +€38,569
up €38,569 (+16.6%), from €231,854 to €270,423
of which Trade receivables: +€21,187
- Other debts +€228,094
up €228,094 (+162.8%), from €140,128 to €368,222
- Advances received -€58,537
no longer reported in 2025 (was €58,537)
- Debts after one year +€50,234
up €50,234 (+11.4%), from €441,827 to €492,062
of which Financial debts: +€50,234
- Reserves +€39,000
up €39,000 (+8.9%), from €438,440 to €477,440
of which Distributable reserves: +€39,000
- Provisions +€31,958
up €31,958 (+37.1%), from €86,050 to €118,009
- Financial charges +€257,981
up €257,981 (+1015.0%), from €25,416 to €283,397
- Financial income +€245,052
up €245,052 (+81391.0%), from €301 to €245,353
- Gross operating margin +€163,288
up €163,288 (+49.8%), from €327,984 to €491,272
- Staff costs +€108,499
up €108,499 (+64.5%), from €168,089 to €276,588
- Provisions -€54,092
down €54,092 (-62.9%), from €86,050 to €31,958
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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,377,874 | €1,695,791 | +€317,917 | +23.1% |
| Fixed assets | 21/28 | €1,116,831 | €1,390,468 | +€273,637 | +24.5% |
| Tangible fixed assets | 22/27 | €991,781 | €1,090,418 | +€98,637 | +9.9% |
| Land and buildings | 22 | €914,786 | €886,460 | -€28,326 | -3.1% |
| Plant, machinery and equipment | 23 | €10,204 | €157,215 | +€147,010 | +1440.7% |
| Furniture and vehicles | 24 | €66,791 | €46,743 | -€20,048 | -30.0% |
| Financial fixed assets | 28 | €125,050 | €300,050 | +€175,000 | +139.9% |
| Current assets | 29/58 | €261,042 | €305,323 | +€44,280 | +17.0% |
| Amounts receivable within one year | 40/41 | €231,854 | €270,423 | +€38,569 | +16.6% |
| Trade receivables | 40 | €254 | €21,441 | +€21,187 | +8338.1% |
| Other amounts receivable | 41 | €231,600 | €248,982 | +€17,382 | +7.5% |
| Current investments | 50/53 | €3,623 | €3,623 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,910 | €26,637 | +€7,727 | +40.9% |
| Deferred charges and accrued income | 490/1 | €6,656 | €4,641 | -€2,015 | -30.3% |
| Total equity and liabilities | 10/49 | €1,377,874 | €1,695,791 | +€317,917 | +23.1% |
| Equity | 10/15 | €514,826 | €554,100 | +€39,274 | +7.6% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €438,440 | €477,440 | +€39,000 | +8.9% |
| Non-distributable reserves | 130/1 | €7,440 | €7,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,440 | €7,440 | = | 0.0% |
| Distributable reserves | 133 | €431,000 | €470,000 | +€39,000 | +9.0% |
| Profit (loss) carried forward | 14 | €1,986 | €2,260 | +€274 | +13.8% |
| Provisions and deferred taxes | 16 | €86,050 | €118,009 | +€31,958 | +37.1% |
| Provisions for liabilities and charges | 160/5 | €86,050 | €118,009 | +€31,958 | +37.1% |
| Other liabilities and charges | 164/5 | €86,050 | €118,009 | +€31,958 | +37.1% |
| Amounts payable | 17/49 | €776,997 | €1,023,682 | +€246,685 | +31.7% |
| Amounts payable after more than one year | 17 | €441,827 | €492,062 | +€50,234 | +11.4% |
| Financial debts | 170/4 | €440,227 | €490,462 | +€50,234 | +11.4% |
| Other amounts payable | 178/9 | €1,600 | €1,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €331,813 | €526,313 | +€194,500 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | €45,295 | €61,324 | +€16,029 | +35.4% |
| Trade debts | 44 | €19,856 | €39,584 | +€19,728 | +99.4% |
| Suppliers | 440/4 | €19,856 | €39,584 | +€19,728 | +99.4% |
| Advances received on contracts in progress | 46 | €58,537 | - | -€58,537 | |
| Taxes, remuneration and social security | 45 | €67,998 | €57,183 | -€10,814 | -15.9% |
| Taxes | 450/3 | €36,093 | €30,736 | -€5,357 | -14.8% |
| Remuneration and social security | 454/9 | €31,905 | €26,448 | -€5,457 | -17.1% |
| Other amounts payable | 47/48 | €140,128 | €368,222 | +€228,094 | +162.8% |
| Accrued charges and deferred income | 492/3 | €3,356 | €5,308 | +€1,951 | +58.1% |
| Non-recurring operating income | 76A | €3,539 | - | -€3,539 | |
| Remuneration, social security and pensions | 62 | €168,089 | €276,588 | +€108,499 | +64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,093 | €90,756 | +€9,663 | +11.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €86,050 | €31,958 | -€54,092 | -62.9% |
| Other operating charges | 640/8 | €9,270 | €9,681 | +€411 | +4.4% |
| Gross operating margin | 9900 | €327,984 | €491,272 | +€163,288 | +49.8% |
| Operating profit (loss) | 9901 | -€16,518 | €82,289 | +€98,807 | |
| Financial income | 75/76B | €301 | €245,353 | +€245,052 | +81391.0% |
| Recurring financial income | 75 | €301 | €245,353 | +€245,052 | +81391.0% |
| Financial charges | 65/66B | €25,416 | €283,397 | +€257,981 | +1015.0% |
| Recurring financial charges | 65 | €25,416 | €283,397 | +€257,981 | +1015.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,633 | €44,245 | +€85,878 | |
| Income taxes | 67/77 | €12,151 | €4,972 | -€7,180 | -59.1% |
| Profit (loss) for the period | 9904 | -€53,784 | €39,274 | +€93,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,784 | €39,274 | +€93,058 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.