ASCO: 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.
ASCO
Largest movements
- Receivables within one year +€115,955
up €115,955 (+29.9%), from €387,807 to €503,762
of which Other amounts receivable: +€141,123
- Tangible fixed assets -€50,277
down €50,277 (-6.6%), from €758,913 to €708,636
of which Land and buildings: -€38,674
- Cash -€36,018
down €36,018 (-15.6%), from €231,091 to €195,073
mainly Receivables within one year (-€115,955) and Debts after one year (-€57,762)
- Reserves +€105,482
up €105,482 (+22.3%), from €472,757 to €578,239
- Debts after one year -€57,762
down €57,762 (-10.1%), from €570,060 to €512,298
- Other debts -€32,031
down €32,031 (-14.4%), from €221,809 to €189,778
- Gross operating margin +€69,999
up €69,999 (+32.5%), from €215,689 to €285,689
- Taxes +€23,025
up €23,025 (+73.0%), from €31,535 to €54,560
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 | €1,379,925 | €1,408,436 | +€28,510 | +2.1% |
| Fixed assets | 21/28 | €758,913 | €708,636 | -€50,277 | -6.6% |
| Tangible fixed assets | 22/27 | €758,913 | €708,636 | -€50,277 | -6.6% |
| Land and buildings | 22 | €732,021 | €693,346 | -€38,674 | -5.3% |
| Furniture and vehicles | 24 | €26,892 | €15,290 | -€11,603 | -43.1% |
| Current assets | 29/58 | €621,012 | €699,799 | +€78,787 | +12.7% |
| Amounts receivable within one year | 40/41 | €387,807 | €503,762 | +€115,955 | +29.9% |
| Trade receivables | 40 | €25,168 | €0 | -€25,168 | -100.0% |
| Other amounts receivable | 41 | €362,639 | €503,762 | +€141,123 | +38.9% |
| Cash at bank and in hand | 54/58 | €231,091 | €195,073 | -€36,018 | -15.6% |
| Deferred charges and accrued income | 490/1 | €2,115 | €965 | -€1,150 | -54.4% |
| Total equity and liabilities | 10/49 | €1,379,925 | €1,408,436 | +€28,510 | +2.1% |
| Equity | 10/15 | €492,757 | €598,239 | +€105,482 | +21.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €472,757 | €578,239 | +€105,482 | +22.3% |
| Distributable reserves | 133 | €472,757 | €578,239 | +€105,482 | +22.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €887,168 | €810,197 | -€76,971 | -8.7% |
| Amounts payable after more than one year | 17 | €570,060 | €512,298 | -€57,762 | -10.1% |
| Financial debts | 170/4 | €570,060 | €512,298 | -€57,762 | -10.1% |
| Amounts payable within one year | 42/48 | €317,108 | €297,899 | -€19,209 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €64,401 | €57,762 | -€6,639 | -10.3% |
| Trade debts | 44 | €111 | €10,538 | +€10,427 | +9381.5% |
| Suppliers | 440/4 | €111 | €10,538 | +€10,427 | +9381.5% |
| Taxes, remuneration and social security | 45 | €30,786 | €39,820 | +€9,034 | +29.3% |
| Taxes | 450/3 | €28,236 | €39,820 | +€11,584 | +41.0% |
| Remuneration and social security | 454/9 | €2,550 | €0 | -€2,550 | -100.0% |
| Other amounts payable | 47/48 | €221,809 | €189,778 | -€32,031 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,277 | €60,277 | -€0 | 0.0% |
| Other operating charges | 640/8 | €17,507 | €18,978 | +€1,471 | +8.4% |
| Gross operating margin | 9900 | €215,689 | €285,689 | +€69,999 | +32.5% |
| Operating profit (loss) | 9901 | €137,906 | €206,434 | +€68,529 | +49.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €32,261 | €30,162 | -€2,098 | -6.5% |
| Recurring financial charges | 65 | €32,261 | €30,162 | -€2,098 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €105,645 | €176,272 | +€70,627 | +66.9% |
| Income taxes | 67/77 | €31,535 | €54,560 | +€23,025 | +73.0% |
| Profit (loss) for the period | 9904 | €74,110 | €121,712 | +€47,602 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,110 | €121,712 | +€47,602 | +64.2% |
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 3 October 2026 via checked.be.