ASBELCO: 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.
ASBELCO
Largest movements
- Receivables within one year -€13,726
down €13,726 (-45.7%), from €30,052 to €16,326
of which Trade receivables: -€19,325
- Cash -€9,879
down €9,879 (-30.4%), from €32,495 to €22,615
mainly Trade debts (-€39,500) and Other debts (-€25,000)
- Financial fixed assets +€5,750
new in 2025: €5,750
- Receivables after one year -€5,750
down €5,750 (-100%), from €5,750 to €0
- Trade debts -€39,500
down €39,500 (-75.3%), from €52,473 to €12,973
- Debts after one year +€32,586
up €32,586 (+22.0%), from €148,128 to €180,714
- Other debts -€25,000
down €25,000 (-100%), from €25,000 to €0
- Reserves +€15,299
up €15,299 (+39.4%), from €38,843 to €54,142
- Tax, wage and social debts -€13,261
down €13,261 (-65.5%), from €20,251 to €6,990
of which Taxes: -€15,111
- Gross operating margin +€18,608
up €18,608 (+82.0%), from €22,704 to €41,312
- Taxes +€4,093
up €4,093 (+188%), from €2,178 to €6,271
- Financial charges +€1,400
up €1,400 (+17.5%), from €7,989 to €9,389
- Depreciation +€1,192
up €1,192 (+14.9%), from €8,023 to €9,215
- Other operating charges +€973
up €973 (+179%), from €542 to €1,516
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 | €295,302 | €271,078 | -€24,224 | -8.2% |
| Fixed assets | 21/28 | €224,302 | €229,515 | +€5,213 | +2.3% |
| Tangible fixed assets | 22/27 | €224,302 | €223,765 | -€537 | -0.2% |
| Land and buildings | 22 | €220,408 | €216,783 | -€3,625 | -1.6% |
| Plant, machinery and equipment | 23 | €2,823 | €3,109 | +€287 | +10.2% |
| Furniture and vehicles | 24 | €1,071 | €3,872 | +€2,801 | +261% |
| Financial fixed assets | 28 | - | €5,750 | +€5,750 | |
| Current assets | 29/58 | €71,000 | €41,563 | -€29,436 | -41.5% |
| Amounts receivable after more than one year | 29 | €5,750 | €0 | -€5,750 | -100% |
| Other amounts receivable | 291 | €5,750 | €0 | -€5,750 | -100% |
| Amounts receivable within one year | 40/41 | €30,052 | €16,326 | -€13,726 | -45.7% |
| Trade receivables | 40 | €23,047 | €3,722 | -€19,325 | -83.9% |
| Other amounts receivable | 41 | €7,005 | €12,604 | +€5,599 | +79.9% |
| Cash at bank and in hand | 54/58 | €32,495 | €22,615 | -€9,879 | -30.4% |
| Deferred charges and accrued income | 490/1 | €2,703 | €2,622 | -€81 | -3.0% |
| Total equity and liabilities | 10/49 | €295,302 | €271,078 | -€24,224 | -8.2% |
| Equity | 10/15 | €43,843 | €59,142 | +€15,299 | +34.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,843 | €54,142 | +€15,299 | +39.4% |
| Distributable reserves | 133 | €38,843 | €54,142 | +€15,299 | +39.4% |
| Amounts payable | 17/49 | €251,458 | €211,936 | -€39,522 | -15.7% |
| Amounts payable after more than one year | 17 | €148,128 | €180,714 | +€32,586 | +22.0% |
| Financial debts | 170/4 | €148,128 | €180,714 | +€32,586 | +22.0% |
| Amounts payable within one year | 42/48 | €103,330 | €31,178 | -€72,152 | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €5,606 | €7,179 | +€1,573 | +28.1% |
| Financial debts | 43 | - | €4,037 | +€4,037 | |
| Credit institutions | 430/8 | - | €4,037 | +€4,037 | |
| Trade debts | 44 | €52,473 | €12,973 | -€39,500 | -75.3% |
| Suppliers | 440/4 | €52,473 | €12,973 | -€39,500 | -75.3% |
| Taxes, remuneration and social security | 45 | €20,251 | €6,990 | -€13,261 | -65.5% |
| Taxes | 450/3 | €20,251 | €5,140 | -€15,111 | -74.6% |
| Remuneration and social security | 454/9 | - | €1,850 | +€1,850 | |
| Other amounts payable | 47/48 | €25,000 | €0 | -€25,000 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €43 | +€43 | |
| Non-recurring operating income | 76A | - | €110 | +€110 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,023 | €9,215 | +€1,192 | +14.9% |
| Other operating charges | 640/8 | €542 | €1,516 | +€973 | +179% |
| Gross operating margin | 9900 | €22,704 | €41,312 | +€18,608 | +82.0% |
| Operating profit (loss) | 9901 | €14,139 | €30,581 | +€16,442 | +116% |
| Financial income | 75/76B | €330 | €378 | +€47 | +14.3% |
| Recurring financial income | 75 | €330 | €378 | +€47 | +14.3% |
| Financial charges | 65/66B | €7,989 | €9,389 | +€1,400 | +17.5% |
| Recurring financial charges | 65 | €7,989 | €9,389 | +€1,400 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €6,480 | €21,570 | +€15,089 | +233% |
| Income taxes | 67/77 | €2,178 | €6,271 | +€4,093 | +188% |
| Profit (loss) for the period | 9904 | €4,302 | €15,299 | +€10,996 | +256% |
| Profit (loss) for the period to be appropriated | 9905 | €4,302 | €15,299 | +€10,996 | +256% |
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.