ASD: 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.
ASD
Largest movements
- Receivables within one year -€81,810
down €81,810 (-65.5%), from €124,948 to €43,138
of which Other amounts receivable: -€81,810
- Cash +€61,427
up €61,427 (+122%), from €50,382 to €111,810
mainly Receivables within one year (+€81,810) and Net result for the year (+€41,303)
- Receivables after one year -€28,311
down €28,311 (-100%), from €28,311 to €0
- Debts after one year -€55,162
down €55,162 (-38.8%), from €142,179 to €87,018
- Profit (loss) carried forward +€41,303
up €41,303, from -€37,200 to €4,103
- Other debts -€28,000
down €28,000 (-100%), from €28,000 to €0
- Current portion of long-term debt -€7,076
down €7,076 (-11.4%), from €62,238 to €55,162
- Gross operating margin +€48,745
up €48,745, from -€3,243 to €45,502
- Financial income -€3,677
down €3,677 (-52.4%), from €7,020 to €3,343
- Financial charges -€1,199
down €1,199 (-19.7%), from €6,088 to €4,889
- Other operating charges -€756
down €756 (-53.6%), from €1,411 to €655
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 | €203,958 | €154,948 | -€49,010 | -24.0% |
| Fixed assets | 21/28 | €316 | €0 | -€316 | -100% |
| Financial fixed assets | 28 | €316 | €0 | -€316 | -100% |
| Current assets | 29/58 | €203,642 | €154,948 | -€48,694 | -23.9% |
| Amounts receivable after more than one year | 29 | €28,311 | €0 | -€28,311 | -100% |
| Trade receivables | 290 | €28,311 | €0 | -€28,311 | -100% |
| Amounts receivable within one year | 40/41 | €124,948 | €43,138 | -€81,810 | -65.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €124,948 | €43,138 | -€81,810 | -65.5% |
| Cash at bank and in hand | 54/58 | €50,382 | €111,810 | +€61,427 | +122% |
| Total equity and liabilities | 10/49 | €203,958 | €154,948 | -€49,010 | -24.0% |
| Equity | 10/15 | -€31,000 | €10,303 | +€41,303 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,200 | €4,103 | +€41,303 | |
| Amounts payable | 17/49 | €234,958 | €144,645 | -€90,314 | -38.4% |
| Amounts payable after more than one year | 17 | €142,179 | €87,018 | -€55,162 | -38.8% |
| Financial debts | 170/4 | €142,179 | €87,018 | -€55,162 | -38.8% |
| Amounts payable within one year | 42/48 | €92,779 | €57,627 | -€35,152 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €62,238 | €55,162 | -€7,076 | -11.4% |
| Trade debts | 44 | €435 | €467 | +€32 | +7.3% |
| Suppliers | 440/4 | €435 | €467 | +€32 | +7.3% |
| Taxes, remuneration and social security | 45 | €2,106 | €1,999 | -€107 | -5.1% |
| Taxes | 450/3 | €2,106 | €1,999 | -€107 | -5.1% |
| Other amounts payable | 47/48 | €28,000 | €0 | -€28,000 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €1,411 | €655 | -€756 | -53.6% |
| Gross operating margin | 9900 | -€3,243 | €45,502 | +€48,745 | |
| Operating profit (loss) | 9901 | -€4,654 | €44,847 | +€49,501 | |
| Financial income | 75/76B | €7,020 | €3,343 | -€3,677 | -52.4% |
| Recurring financial income | 75 | €7,020 | €3,343 | -€3,677 | -52.4% |
| Financial charges | 65/66B | €6,088 | €4,889 | -€1,199 | -19.7% |
| Recurring financial charges | 65 | €6,088 | €4,889 | -€1,199 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,722 | €43,302 | +€47,024 | |
| Income taxes | 67/77 | €2,106 | €1,999 | -€107 | -5.1% |
| Profit (loss) for the period | 9904 | -€5,828 | €41,303 | +€47,131 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,828 | €41,303 | +€47,131 |
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 16 October 2026 via checked.be.