ASC & PROJECTS: 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.
ASC & PROJECTS
Largest movements
- Receivables within one year +€15,746
up €15,746 (+14.6%), from €107,856 to €123,602
of which Trade receivables: +€11,266
- Cash -€6,388
down €6,388 (-93.7%), from €6,814 to €426
mainly Receivables within one year (-€15,746) and Investment in fixed assets (net) (-€15,528)
- Tangible fixed assets +€1,703
up €1,703 (+6.5%), from €26,198 to €27,901
of which Furniture and vehicles: +€3,725
- Profit (loss) carried forward +€16,245
up €16,245 (+17.1%), from €94,811 to €111,056
- Tax, wage and social debts -€10,595
down €10,595 (-35.0%), from €30,269 to €19,674
- Trade debts -€6,976
down €6,976 (-61.5%), from €11,335 to €4,359
- Debts after one year +€6,716
new in 2025: €6,716
- Current portion of long-term debt +€5,980
new in 2025: €5,980
- Gross operating margin -€37,545
down €37,545 (-48.9%), from €76,725 to €39,180
- Taxes -€8,006
down €8,006 (-57.4%), from €13,936 to €5,930
- Depreciation +€3,885
up €3,885 (+39.1%), from €9,940 to €13,825
- Other operating charges -€2,818
down €2,818 (-55.6%), from €5,064 to €2,246
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 | €141,415 | €152,785 | +€11,370 | +8.0% |
| Fixed assets | 21/28 | €26,198 | €27,901 | +€1,703 | +6.5% |
| Tangible fixed assets | 22/27 | €26,198 | €27,901 | +€1,703 | +6.5% |
| Plant, machinery and equipment | 23 | €4,363 | €2,341 | -€2,022 | -46.3% |
| Furniture and vehicles | 24 | €21,835 | €25,560 | +€3,725 | +17.1% |
| Current assets | 29/58 | €115,217 | €124,884 | +€9,667 | +8.4% |
| Amounts receivable within one year | 40/41 | €107,856 | €123,602 | +€15,746 | +14.6% |
| Trade receivables | 40 | €105,592 | €116,858 | +€11,266 | +10.7% |
| Other amounts receivable | 41 | €2,264 | €6,744 | +€4,480 | +198% |
| Cash at bank and in hand | 54/58 | €6,814 | €426 | -€6,388 | -93.7% |
| Deferred charges and accrued income | 490/1 | €547 | €856 | +€309 | +56.5% |
| Total equity and liabilities | 10/49 | €141,415 | €152,785 | +€11,370 | +8.0% |
| Equity | 10/15 | €99,811 | €116,056 | +€16,245 | +16.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,811 | €111,056 | +€16,245 | +17.1% |
| Amounts payable | 17/49 | €41,604 | €36,729 | -€4,875 | -11.7% |
| Amounts payable after more than one year | 17 | - | €6,716 | +€6,716 | |
| Financial debts | 170/4 | - | €6,716 | +€6,716 | |
| Amounts payable within one year | 42/48 | €41,604 | €30,013 | -€11,591 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | - | €5,980 | +€5,980 | |
| Trade debts | 44 | €11,335 | €4,359 | -€6,976 | -61.5% |
| Suppliers | 440/4 | €11,335 | €4,359 | -€6,976 | -61.5% |
| Taxes, remuneration and social security | 45 | €30,269 | €19,674 | -€10,595 | -35.0% |
| Taxes | 450/3 | €30,269 | €19,674 | -€10,595 | -35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,940 | €13,825 | +€3,885 | +39.1% |
| Other operating charges | 640/8 | €5,064 | €2,246 | -€2,818 | -55.6% |
| Non-recurring operating charges | 66A | - | €311 | +€311 | |
| Gross operating margin | 9900 | €76,725 | €39,180 | -€37,545 | -48.9% |
| Operating profit (loss) | 9901 | €61,721 | €22,798 | -€38,923 | -63.1% |
| Financial income | 75/76B | €19 | €148 | +€129 | +679% |
| Recurring financial income | 75 | €19 | €148 | +€129 | +679% |
| Financial charges | 65/66B | €299 | €770 | +€471 | +158% |
| Recurring financial charges | 65 | €299 | €770 | +€471 | +158% |
| Profit (loss) for the period before taxes | 9903 | €61,441 | €22,176 | -€39,265 | -63.9% |
| Income taxes | 67/77 | €13,936 | €5,930 | -€8,006 | -57.4% |
| Profit (loss) for the period | 9904 | €47,505 | €16,246 | -€31,259 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,505 | €16,246 | -€31,259 | -65.8% |
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 13 October 2026 via checked.be.