ASD Law: 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 Law
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€23,090
down €23,090 (-44.4%), from €51,949 to €28,859
mainly Current investments (-€50,000) and Trade debts (-€4,641)
- Receivables within one year -€14,193
down €14,193 (-78.2%), from €18,150 to €3,957
of which Trade receivables: -€17,227
- Deferred charges and accrued income -€2,850
down €2,850 (-53.8%), from €5,294 to €2,444
- Reserves +€13,616
up €13,616 (+25.4%), from €53,661 to €67,276
- Trade debts -€4,641
down €4,641 (-82.4%), from €5,629 to €989
- Other debts +€2,590
up €2,590 (+1,211%), from €214 to €2,804
- Tax, wage and social debts -€1,713
down €1,713 (-10.7%), from €16,001 to €14,289
- Gross operating margin -€20,798
down €20,798 (-49.7%), from €41,830 to €21,032
- Taxes -€6,003
down €6,003 (-54.7%), from €10,969 to €4,966
- Other operating charges -€1,101
down €1,101 (-54.8%), from €2,011 to €909
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 | €77,242 | €86,358 | +€9,116 | +11.8% |
| Fixed assets | 21/28 | €1,849 | €1,097 | -€751 | -40.6% |
| Tangible fixed assets | 22/27 | €1,849 | €1,097 | -€751 | -40.6% |
| Furniture and vehicles | 24 | €1,849 | €1,097 | -€751 | -40.6% |
| Current assets | 29/58 | €75,393 | €85,260 | +€9,867 | +13.1% |
| Amounts receivable within one year | 40/41 | €18,150 | €3,957 | -€14,193 | -78.2% |
| Trade receivables | 40 | €18,150 | €923 | -€17,227 | -94.9% |
| Other amounts receivable | 41 | - | €3,034 | +€3,034 | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €51,949 | €28,859 | -€23,090 | -44.4% |
| Deferred charges and accrued income | 490/1 | €5,294 | €2,444 | -€2,850 | -53.8% |
| Total equity and liabilities | 10/49 | €77,242 | €86,358 | +€9,116 | +11.8% |
| Equity | 10/15 | €54,661 | €68,276 | +€13,616 | +24.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €53,661 | €67,276 | +€13,616 | +25.4% |
| Distributable reserves | 133 | €53,661 | €67,276 | +€13,616 | +25.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €22,581 | €18,081 | -€4,500 | -19.9% |
| Amounts payable within one year | 42/48 | €21,845 | €18,081 | -€3,763 | -17.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,629 | €989 | -€4,641 | -82.4% |
| Suppliers | 440/4 | €5,629 | €989 | -€4,641 | -82.4% |
| Taxes, remuneration and social security | 45 | €16,001 | €14,289 | -€1,713 | -10.7% |
| Taxes | 450/3 | €16,001 | €14,289 | -€1,713 | -10.7% |
| Other amounts payable | 47/48 | €214 | €2,804 | +€2,590 | +1,211% |
| Accrued charges and deferred income | 492/3 | €737 | €0 | -€737 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406 | €751 | +€346 | +85.3% |
| Other operating charges | 640/8 | €2,011 | €909 | -€1,101 | -54.8% |
| Gross operating margin | 9900 | €41,830 | €21,032 | -€20,798 | -49.7% |
| Operating profit (loss) | 9901 | €39,413 | €19,371 | -€20,042 | -50.9% |
| Financial charges | 65/66B | €882 | €789 | -€93 | -10.5% |
| Recurring financial charges | 65 | €882 | €789 | -€93 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €38,532 | €18,582 | -€19,950 | -51.8% |
| Income taxes | 67/77 | €10,969 | €4,966 | -€6,003 | -54.7% |
| Profit (loss) for the period | 9904 | €27,562 | €13,616 | -€13,947 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,562 | €13,616 | -€13,947 | -50.6% |
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 17 October 2026 via checked.be.