ASD: 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.
ASD
Largest movements
- Cash -€27,586
down €27,586 (-66.8%), from €41,275 to €13,690
mainly Contributions, distributions and other (-€20,833) and Receivables within one year (-€8,444)
- Receivables within one year +€8,444
new in 2025: €8,444
- Tangible fixed assets -€2,904
down €2,904 (-37.9%), from €7,667 to €4,763
of which Furniture and vehicles: -€3,307
- Deferred charges and accrued income -€1,385
down €1,385 (-41.0%), from €3,380 to €1,995
- Reserves -€9,920
down €9,920 (-15.0%), from €66,100 to €56,180
- Tax, wage and social debts -€7,591
down €7,591 (-92.3%), from €8,224 to €633
- Other debts -€2,139
down €2,139 (-72.0%), from €2,972 to €833
- Trade debts -€2,058
down €2,058 (-74.6%), from €2,757 to €700
- Gross operating margin -€913
down €913 (-3.6%), from €25,263 to €24,351
- Other operating charges -€565
down €565 (-41.5%), from €1,363 to €797
- Taxes +€386
up €386 (+5.4%), from €7,161 to €7,547
- Financial charges -€335
down €335 (-21.5%), from €1,556 to €1,221
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 | €99,231 | €77,319 | -€21,912 | -22.1% |
| Fixed assets | 21/28 | €7,667 | €5,343 | -€2,324 | -30.3% |
| Intangible fixed assets | 21 | - | €580 | +€580 | |
| Tangible fixed assets | 22/27 | €7,667 | €4,763 | -€2,904 | -37.9% |
| Plant, machinery and equipment | 23 | €1,530 | €1,933 | +€404 | +26.4% |
| Furniture and vehicles | 24 | €6,137 | €2,830 | -€3,307 | -53.9% |
| Current assets | 29/58 | €91,564 | €71,976 | -€19,588 | -21.4% |
| Amounts receivable after more than one year | 29 | €46,909 | €47,847 | +€938 | +2.0% |
| Trade receivables | 290 | €46,909 | €47,847 | +€938 | +2.0% |
| Amounts receivable within one year | 40/41 | - | €8,444 | +€8,444 | |
| Other amounts receivable | 41 | - | €8,444 | +€8,444 | |
| Cash at bank and in hand | 54/58 | €41,275 | €13,690 | -€27,586 | -66.8% |
| Deferred charges and accrued income | 490/1 | €3,380 | €1,995 | -€1,385 | -41.0% |
| Total equity and liabilities | 10/49 | €99,231 | €77,319 | -€21,912 | -22.1% |
| Equity | 10/15 | €84,704 | €74,787 | -€9,917 | -11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,100 | €56,180 | -€9,920 | -15.0% |
| Distributable reserves | 133 | €66,100 | €56,180 | -€9,920 | -15.0% |
| Profit (loss) carried forward | 14 | €4 | €7 | +€3 | +81.8% |
| Amounts payable | 17/49 | €14,527 | €2,532 | -€11,995 | -82.6% |
| Amounts payable within one year | 42/48 | €14,367 | €2,532 | -€11,835 | -82.4% |
| Financial debts | 43 | €413 | €366 | -€47 | -11.4% |
| Credit institutions | 430/8 | €413 | €366 | -€47 | -11.4% |
| Trade debts | 44 | €2,757 | €700 | -€2,058 | -74.6% |
| Suppliers | 440/4 | €2,757 | €700 | -€2,058 | -74.6% |
| Taxes, remuneration and social security | 45 | €8,224 | €633 | -€7,591 | -92.3% |
| Taxes | 450/3 | €8,224 | €633 | -€7,591 | -92.3% |
| Other amounts payable | 47/48 | €2,972 | €833 | -€2,139 | -72.0% |
| Accrued charges and deferred income | 492/3 | €160 | - | -€160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,855 | €4,872 | +€17 | +0.3% |
| Other operating charges | 640/8 | €1,363 | €797 | -€565 | -41.5% |
| Non-recurring operating charges | 66A | €532 | - | -€532 | |
| Gross operating margin | 9900 | €25,263 | €24,351 | -€913 | -3.6% |
| Operating profit (loss) | 9901 | €18,514 | €18,682 | +€168 | +0.9% |
| Financial income | 75/76B | €938 | €1,003 | +€64 | +6.9% |
| Recurring financial income | 75 | €938 | €1,003 | +€64 | +6.9% |
| Financial charges | 65/66B | €1,556 | €1,221 | -€335 | -21.5% |
| Recurring financial charges | 65 | €1,556 | €1,221 | -€335 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €17,896 | €18,463 | +€567 | +3.2% |
| Income taxes | 67/77 | €7,161 | €7,547 | +€386 | +5.4% |
| Profit (loss) for the period | 9904 | €10,736 | €10,916 | +€181 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,736 | €10,916 | +€181 | +1.7% |
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.