ASAPS: 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.
ASAPS
Largest movements
- Stocks and contracts +€94,186
up €94,186 (+72.4%), from €130,107 to €224,293
- Cash -€37,443
down €37,443 (-99.3%), from €37,690 to €247
mainly Stocks and contracts (-€94,186) and Debts after one year (-€11,722)
- Tangible fixed assets -€13,031
down €13,031 (-4.1%), from €314,875 to €301,844
of which Land and buildings: -€11,184
- Other debts +€44,200
up €44,200 (+40.5%), from €109,005 to €153,205
- Debts after one year -€11,722
down €11,722 (-6.0%), from €194,225 to €182,503
- Profit (loss) carried forward +€7,376
up €7,376 (+4.7%), from €155,964 to €163,340
- Gross operating margin -€36,408
down €36,408 (-56.2%), from €64,726 to €28,318
- Taxes -€8,649
down €8,649 (-77.8%), from €11,115 to €2,466
- Financial charges -€2,315
down €2,315 (-39.1%), from €5,919 to €3,605
- Other operating charges -€1,841
down €1,841 (-50.0%), from €3,682 to €1,841
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
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 | €488,504 | €534,453 | +€45,949 | +9.4% |
| Fixed assets | 21/28 | €314,875 | €301,844 | -€13,031 | -4.1% |
| Tangible fixed assets | 22/27 | €314,875 | €301,844 | -€13,031 | -4.1% |
| Land and buildings | 22 | €309,522 | €298,338 | -€11,184 | -3.6% |
| Plant, machinery and equipment | 23 | €5,353 | €3,506 | -€1,847 | -34.5% |
| Current assets | 29/58 | €173,629 | €232,609 | +€58,979 | +34.0% |
| Stocks and contracts in progress | 3 | €130,107 | €224,293 | +€94,186 | +72.4% |
| Stocks | 30/36 | €130,107 | €224,293 | +€94,186 | +72.4% |
| Amounts receivable within one year | 40/41 | €5,832 | €6,075 | +€243 | +4.2% |
| Trade receivables | 40 | €2,334 | €0 | -€2,334 | -100.0% |
| Other amounts receivable | 41 | €3,498 | €6,075 | +€2,577 | +73.7% |
| Cash at bank and in hand | 54/58 | €37,690 | €247 | -€37,443 | -99.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,994 | +€1,994 | |
| Total equity and liabilities | 10/49 | €488,504 | €534,453 | +€45,949 | +9.4% |
| Equity | 10/15 | €164,024 | €171,400 | +€7,376 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,964 | €163,340 | +€7,376 | +4.7% |
| Amounts payable | 17/49 | €324,480 | €363,053 | +€38,573 | +11.9% |
| Amounts payable after more than one year | 17 | €194,225 | €182,503 | -€11,722 | -6.0% |
| Financial debts | 170/4 | €194,225 | €182,503 | -€11,722 | -6.0% |
| Amounts payable within one year | 42/48 | €130,256 | €180,550 | +€50,295 | +38.6% |
| Current portion of amounts payable after more than one year | 42 | €11,550 | €12,873 | +€1,323 | +11.5% |
| Trade debts | 44 | €162 | €308 | +€145 | +89.4% |
| Suppliers | 440/4 | €162 | €308 | +€145 | +89.4% |
| Advances received on contracts in progress | 46 | €0 | €450 | +€450 | |
| Taxes, remuneration and social security | 45 | €9,539 | €13,715 | +€4,176 | +43.8% |
| Taxes | 450/3 | €9,539 | €9,115 | -€424 | -4.4% |
| Remuneration and social security | 454/9 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €109,005 | €153,205 | +€44,200 | +40.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,153 | €13,031 | -€123 | -0.9% |
| Other operating charges | 640/8 | €3,682 | €1,841 | -€1,841 | -50.0% |
| Gross operating margin | 9900 | €64,726 | €28,318 | -€36,408 | -56.2% |
| Operating profit (loss) | 9901 | €47,891 | €13,447 | -€34,445 | -71.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +66.7% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +66.7% |
| Financial charges | 65/66B | €5,919 | €3,605 | -€2,315 | -39.1% |
| Recurring financial charges | 65 | €5,919 | €3,605 | -€2,315 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €41,972 | €9,842 | -€32,130 | -76.6% |
| Income taxes | 67/77 | €11,115 | €2,466 | -€8,649 | -77.8% |
| Profit (loss) for the period | 9904 | €30,857 | €7,376 | -€23,481 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,857 | €7,376 | -€23,481 | -76.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.