ASCH: 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.
ASCH
Largest movements
- Receivables within one year +€465,310
up €465,310 (+335.7%), from €138,599 to €603,909
of which Other amounts receivable: +€498,092
- Tangible fixed assets -€61,767
down €61,767 (-3.8%), from €1.6m to €1.5m
- Other debts +€298,161
up €298,161 (+48.6%), from €613,894 to €912,055
- Reserves +€230,887
up €230,887 (+44.0%), from €524,329 to €755,217
- Debts after one year -€148,040
down €148,040 (-13.2%), from €1.1m to €975,854
of which Financial debts: -€124,719
- Financial income +€99,996
up €99,996 (+100.0%), from €100,004 to €200,000
- Gross operating margin -€64,997
down €64,997 (-27.0%), from €240,496 to €175,500
- Depreciation -€30,884
down €30,884 (-33.3%), from €92,651 to €61,767
- Financial charges -€29,672
down €29,672 (-48.0%), from €61,760 to €32,087
- Taxes +€15,496
up €15,496 (+72.6%), from €21,343 to €36,839
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 | €4,790,317 | €5,207,446 | +€417,129 | +8.7% |
| Fixed assets | 21/28 | €4,374,891 | €4,313,124 | -€61,767 | -1.4% |
| Tangible fixed assets | 22/27 | €1,608,575 | €1,546,808 | -€61,767 | -3.8% |
| Land and buildings | 22 | €1,608,575 | €1,546,808 | -€61,767 | -3.8% |
| Financial fixed assets | 28 | €2,766,316 | €2,766,316 | = | 0.0% |
| Current assets | 29/58 | €415,426 | €894,322 | +€478,896 | +115.3% |
| Amounts receivable within one year | 40/41 | €138,599 | €603,909 | +€465,310 | +335.7% |
| Trade receivables | 40 | €104,318 | €71,535 | -€32,783 | -31.4% |
| Other amounts receivable | 41 | €34,282 | €532,374 | +€498,092 | +1452.9% |
| Cash at bank and in hand | 54/58 | €271,490 | €287,657 | +€16,167 | +6.0% |
| Deferred charges and accrued income | 490/1 | €5,337 | €2,756 | -€2,581 | -48.4% |
| Total equity and liabilities | 10/49 | €4,790,317 | €5,207,446 | +€417,129 | +8.7% |
| Equity | 10/15 | €2,859,234 | €3,090,122 | +€230,887 | +8.1% |
| Contributions | 10/11 | €2,334,905 | €2,334,905 | = | 0.0% |
| Reserves | 13 | €524,329 | €755,217 | +€230,887 | +44.0% |
| Distributable reserves | 133 | €524,329 | €755,217 | +€230,887 | +44.0% |
| Amounts payable | 17/49 | €1,931,083 | €2,117,324 | +€186,241 | +9.6% |
| Amounts payable after more than one year | 17 | €1,123,893 | €975,854 | -€148,040 | -13.2% |
| Financial debts | 170/4 | €756,594 | €631,876 | -€124,719 | -16.5% |
| Other amounts payable | 178/9 | €367,299 | €343,978 | -€23,321 | -6.3% |
| Amounts payable within one year | 42/48 | €807,190 | €1,138,518 | +€331,328 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €146,080 | €148,040 | +€1,960 | +1.3% |
| Financial debts | 43 | €5,077 | €0 | -€5,077 | -100.0% |
| Credit institutions | 430/8 | €5,077 | €0 | -€5,077 | -100.0% |
| Trade debts | 44 | €20,248 | €4,584 | -€15,664 | -77.4% |
| Suppliers | 440/4 | €20,248 | €4,584 | -€15,664 | -77.4% |
| Taxes, remuneration and social security | 45 | €21,891 | €73,839 | +€51,948 | +237.3% |
| Taxes | 450/3 | €21,891 | €73,839 | +€51,948 | +237.3% |
| Other amounts payable | 47/48 | €613,894 | €912,055 | +€298,161 | +48.6% |
| Accrued charges and deferred income | 492/3 | €0 | €2,953 | +€2,953 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,651 | €61,767 | -€30,884 | -33.3% |
| Other operating charges | 640/8 | €23,074 | €13,919 | -€9,155 | -39.7% |
| Non-recurring operating charges | 66A | €19,500 | €0 | -€19,500 | -100.0% |
| Gross operating margin | 9900 | €240,496 | €175,500 | -€64,997 | -27.0% |
| Operating profit (loss) | 9901 | €105,271 | €99,814 | -€5,458 | -5.2% |
| Financial income | 75/76B | €100,004 | €200,000 | +€99,996 | +100.0% |
| Recurring financial income | 75 | €100,004 | €200,000 | +€99,996 | +100.0% |
| Financial charges | 65/66B | €61,760 | €32,087 | -€29,672 | -48.0% |
| Recurring financial charges | 65 | €61,760 | €32,087 | -€29,672 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €143,516 | €267,726 | +€124,211 | +86.5% |
| Income taxes | 67/77 | €21,343 | €36,839 | +€15,496 | +72.6% |
| Profit (loss) for the period | 9904 | €122,173 | €230,887 | +€108,714 | +89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €122,173 | €230,887 | +€108,714 | +89.0% |
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 11 October 2026 via checked.be.