ASD ADVICE: 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 ADVICE
Largest movements
- Intangible fixed assets -€228,353
down €228,353 (-11.8%), from €1.9m to €1.7m
- Deferred charges and accrued income +€94,761
up €94,761 (+16.9%), from €561,264 to €656,025
- Cash -€46,839
no longer reported in 2025 (was €46,839)
mainly Debts after one year (-€166,367) and Tax, wage and social debts (-€140,980)
- Debts after one year -€166,367
down €166,367 (-11.0%), from €1.5m to €1.3m
- Tax, wage and social debts -€140,980
down €140,980 (-53.3%), from €264,727 to €123,748
of which Taxes: -€132,481
- Trade debts +€56,564
up €56,564 (+12.6%), from €448,694 to €505,259
- Profit (loss) carried forward +€37,937
up €37,937 (+37.0%), from €102,602 to €140,539
- Short-term financial debts +€32,330
new in 2025: €32,330
- Gross operating margin -€28,975
down €28,975 (-3.1%), from €949,868 to €920,894
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 | €2,551,012 | €2,370,496 | -€180,516 | -7.1% |
| Fixed assets | 21/28 | €1,942,616 | €1,714,263 | -€228,353 | -11.8% |
| Intangible fixed assets | 21 | €1,942,616 | €1,714,263 | -€228,353 | -11.8% |
| Current assets | 29/58 | €608,396 | €656,234 | +€47,837 | +7.9% |
| Amounts receivable within one year | 40/41 | €293 | €209 | -€84 | -28.7% |
| Other amounts receivable | 41 | €293 | €209 | -€84 | -28.7% |
| Cash at bank and in hand | 54/58 | €46,839 | - | -€46,839 | |
| Deferred charges and accrued income | 490/1 | €561,264 | €656,025 | +€94,761 | +16.9% |
| Total equity and liabilities | 10/49 | €2,551,012 | €2,370,496 | -€180,516 | -7.1% |
| Equity | 10/15 | €105,602 | €143,539 | +€37,937 | +35.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,602 | €140,539 | +€37,937 | +37.0% |
| Amounts payable | 17/49 | €2,445,410 | €2,226,957 | -€218,452 | -8.9% |
| Amounts payable after more than one year | 17 | €1,511,228 | €1,344,861 | -€166,367 | -11.0% |
| Financial debts | 170/4 | €1,511,228 | €1,344,861 | -€166,367 | -11.0% |
| Amounts payable within one year | 42/48 | €934,182 | €882,096 | -€52,086 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €220,760 | €220,760 | = | 0.0% |
| Financial debts | 43 | - | €32,330 | +€32,330 | |
| Credit institutions | 430/8 | - | €32,330 | +€32,330 | |
| Trade debts | 44 | €448,694 | €505,259 | +€56,564 | +12.6% |
| Suppliers | 440/4 | €448,694 | €505,259 | +€56,564 | +12.6% |
| Taxes, remuneration and social security | 45 | €264,727 | €123,748 | -€140,980 | -53.3% |
| Taxes | 450/3 | €194,513 | €62,032 | -€132,481 | -68.1% |
| Remuneration and social security | 454/9 | €70,214 | €61,716 | -€8,498 | -12.1% |
| Remuneration, social security and pensions | 62 | €544,982 | €550,892 | +€5,910 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,353 | €228,353 | = | 0.0% |
| Other operating charges | 640/8 | €561 | €3,772 | +€3,212 | +573.0% |
| Gross operating margin | 9900 | €949,868 | €920,894 | -€28,975 | -3.1% |
| Operating profit (loss) | 9901 | €175,973 | €137,877 | -€38,097 | -21.6% |
| Financial income | 75/76B | €129 | - | -€129 | |
| Recurring financial income | 75 | €129 | - | -€129 | |
| Financial charges | 65/66B | €68,777 | €71,017 | +€2,240 | +3.3% |
| Recurring financial charges | 65 | €68,777 | €71,017 | +€2,240 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €107,325 | €66,859 | -€40,466 | -37.7% |
| Income taxes | 67/77 | €33,109 | €28,922 | -€4,187 | -12.6% |
| Profit (loss) for the period | 9904 | €74,216 | €37,937 | -€36,279 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €74,216 | €37,937 | -€36,279 | -48.9% |
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 6 October 2026 via checked.be.