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 +€10,152
up €10,152 (+664%), from €1,528 to €11,680
of which Trade receivables: +€10,136
- Cash +€8,741
up €8,741 (+24.0%), from €36,410 to €45,151
mainly Net result for the year (+€23,035) and Trade debts (+€12,694)
- Deferred charges and accrued income -€985
down €985 (-77.7%), from €1,268 to €283
- Other debts -€30,000
down €30,000 (-88.3%), from €33,956 to €3,956
- Reserves +€25,054
new in 2025: €25,054
- Trade debts +€12,694
up €12,694 (+2,829%), from €449 to €13,142
- Tax, wage and social debts +€11,932
up €11,932 (+220%), from €5,422 to €17,354
of which Taxes: +€14,632
- Profit (loss) carried forward -€2,019
no longer reported in 2025 (was €2,019)
- Gross operating margin +€82,906
up €82,906 (+659%), from €12,575 to €95,481
- Staff costs +€51,043
new in 2025: €51,043
- Taxes +€11,975
up €11,975 (+2,128%), from €563 to €12,538
- Other operating charges -€1,437
down €1,437 (-46.4%), from €3,097 to €1,660
- Depreciation -€1,051
down €1,051 (-13.5%), from €7,786 to €6,735
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 | €49,345 | €67,006 | +€17,661 | +35.8% |
| Fixed assets | 21/28 | €10,140 | €9,892 | -€248 | -2.4% |
| Tangible fixed assets | 22/27 | €10,140 | €9,892 | -€248 | -2.4% |
| Plant, machinery and equipment | 23 | €5,801 | €8,648 | +€2,847 | +49.1% |
| Furniture and vehicles | 24 | €4,338 | €1,243 | -€3,095 | -71.3% |
| Current assets | 29/58 | €39,206 | €57,114 | +€17,909 | +45.7% |
| Amounts receivable within one year | 40/41 | €1,528 | €11,680 | +€10,152 | +664% |
| Trade receivables | 40 | €1,525 | €11,661 | +€10,136 | +665% |
| Other amounts receivable | 41 | €3 | €19 | +€16 | +500% |
| Cash at bank and in hand | 54/58 | €36,410 | €45,151 | +€8,741 | +24.0% |
| Deferred charges and accrued income | 490/1 | €1,268 | €283 | -€985 | -77.7% |
| Total equity and liabilities | 10/49 | €49,345 | €67,006 | +€17,661 | +35.8% |
| Equity | 10/15 | €9,519 | €32,554 | +€23,035 | +242% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | - | €25,054 | +€25,054 | |
| Distributable reserves | 133 | - | €25,054 | +€25,054 | |
| Profit (loss) carried forward | 14 | €2,019 | - | -€2,019 | |
| Amounts payable | 17/49 | €39,826 | €34,452 | -€5,374 | -13.5% |
| Amounts payable within one year | 42/48 | €39,826 | €34,452 | -€5,374 | -13.5% |
| Trade debts | 44 | €449 | €13,142 | +€12,694 | +2,829% |
| Suppliers | 440/4 | €449 | €13,142 | +€12,694 | +2,829% |
| Taxes, remuneration and social security | 45 | €5,422 | €17,354 | +€11,932 | +220% |
| Taxes | 450/3 | €2,722 | €17,354 | +€14,632 | +538% |
| Remuneration and social security | 454/9 | €2,700 | - | -€2,700 | |
| Other amounts payable | 47/48 | €33,956 | €3,956 | -€30,000 | -88.3% |
| Remuneration, social security and pensions | 62 | - | €51,043 | +€51,043 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,786 | €6,735 | -€1,051 | -13.5% |
| Other operating charges | 640/8 | €3,097 | €1,660 | -€1,437 | -46.4% |
| Gross operating margin | 9900 | €12,575 | €95,481 | +€82,906 | +659% |
| Operating profit (loss) | 9901 | €1,691 | €36,043 | +€34,352 | +2,031% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €205 | €471 | +€266 | +130% |
| Recurring financial charges | 65 | €205 | €471 | +€266 | +130% |
| Profit (loss) for the period before taxes | 9903 | €1,487 | €35,572 | +€34,086 | +2,293% |
| Income taxes | 67/77 | €563 | €12,538 | +€11,975 | +2,128% |
| Profit (loss) for the period | 9904 | €924 | €23,035 | +€22,111 | +2,393% |
| Profit (loss) for the period to be appropriated | 9905 | €924 | €23,035 | +€22,111 | +2,393% |
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 15 October 2026 via checked.be.