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
- Receivables within one year +€51,755
up €51,755 (+105.0%), from €49,271 to €101,025
of which Trade receivables: +€55,831
- Cash -€6,125
down €6,125 (-100.0%), from €6,125 to €0
mainly Receivables within one year (-€51,755) and Accrued charges and deferred income (-€24,729)
- Stocks and contracts -€5,002
down €5,002 (-49.6%), from €10,083 to €5,081
- Tangible fixed assets +€3,921
up €3,921 (+170.1%), from €2,305 to €6,226
of which Furniture and vehicles: +€5,396
- Deferred charges and accrued income -€1,224
down €1,224 (-100.0%), from €1,224 to €0
- Trade debts +€33,137
up €33,137 (+127.8%), from €25,921 to €59,058
- Accrued charges and deferred income -€24,729
down €24,729 (-100.0%), from €24,729 to €0
- Reserves +€16,278
up €16,278 (+275.8%), from €5,903 to €22,181
- Short-term financial debts +€9,746
up €9,746, from €0 to €9,746
- Tax, wage and social debts +€8,413
up €8,413 (+414.5%), from €2,030 to €10,442
of which Taxes: +€5,863
- Gross operating margin +€22,952
up €22,952 (+171.9%), from €13,352 to €36,303
- Taxes +€5,869
up €5,869 (+289.2%), from €2,030 to €7,899
- Depreciation +€2,371
up €2,371 (+107.5%), from €2,206 to €4,577
- Financial charges -€1,973
down €1,973 (-23.2%), from €8,488 to €6,516
- Other operating charges -€964
down €964 (-41.4%), from €2,330 to €1,366
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 | €71,082 | €113,928 | +€42,845 | +60.3% |
| Fixed assets | 21/28 | €4,380 | €7,821 | +€3,441 | +78.6% |
| Intangible fixed assets | 21 | €575 | €95 | -€480 | -83.5% |
| Tangible fixed assets | 22/27 | €2,305 | €6,226 | +€3,921 | +170.1% |
| Plant, machinery and equipment | 23 | €1,949 | €475 | -€1,475 | -75.6% |
| Furniture and vehicles | 24 | €356 | €5,752 | +€5,396 | +1516.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €66,703 | €106,107 | +€39,404 | +59.1% |
| Stocks and contracts in progress | 3 | €10,083 | €5,081 | -€5,002 | -49.6% |
| Stocks | 30/36 | €10,083 | €5,081 | -€5,002 | -49.6% |
| Amounts receivable within one year | 40/41 | €49,271 | €101,025 | +€51,755 | +105.0% |
| Trade receivables | 40 | €40,927 | €96,759 | +€55,831 | +136.4% |
| Other amounts receivable | 41 | €8,343 | €4,267 | -€4,076 | -48.9% |
| Cash at bank and in hand | 54/58 | €6,125 | €0 | -€6,125 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,224 | €0 | -€1,224 | -100.0% |
| Total equity and liabilities | 10/49 | €71,082 | €113,928 | +€42,845 | +60.3% |
| Equity | 10/15 | €18,403 | €34,681 | +€16,278 | +88.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €5,903 | €22,181 | +€16,278 | +275.8% |
| Distributable reserves | 133 | €5,903 | €22,181 | +€16,278 | +275.8% |
| Amounts payable | 17/49 | €52,680 | €79,247 | +€26,567 | +50.4% |
| Amounts payable within one year | 42/48 | €27,951 | €79,247 | +€51,296 | +183.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €9,746 | +€9,746 | |
| Other loans | 439 | €0 | €9,746 | +€9,746 | |
| Trade debts | 44 | €25,921 | €59,058 | +€33,137 | +127.8% |
| Suppliers | 440/4 | €25,921 | €59,058 | +€33,137 | +127.8% |
| Taxes, remuneration and social security | 45 | €2,030 | €10,442 | +€8,413 | +414.5% |
| Taxes | 450/3 | €2,030 | €7,892 | +€5,863 | +288.8% |
| Remuneration and social security | 454/9 | €0 | €2,550 | +€2,550 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €24,729 | €0 | -€24,729 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,206 | €4,577 | +€2,371 | +107.5% |
| Other operating charges | 640/8 | €2,330 | €1,366 | -€964 | -41.4% |
| Gross operating margin | 9900 | €13,352 | €36,303 | +€22,952 | +171.9% |
| Operating profit (loss) | 9901 | €8,816 | €30,360 | +€21,544 | +244.4% |
| Financial income | 75/76B | €540 | €333 | -€207 | -38.4% |
| Recurring financial income | 75 | €540 | €333 | -€207 | -38.4% |
| Financial charges | 65/66B | €8,488 | €6,516 | -€1,973 | -23.2% |
| Recurring financial charges | 65 | €8,488 | €6,516 | -€1,973 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €868 | €24,177 | +€23,310 | +2686.9% |
| Income taxes | 67/77 | €2,030 | €7,899 | +€5,869 | +289.2% |
| Profit (loss) for the period | 9904 | -€1,162 | €16,278 | +€17,440 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,162 | €16,278 | +€17,440 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.