ASDR.: 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.
ASDR.
Largest movements
- Intangible fixed assets +€64,812
new in 2025: €64,812
- Cash +€34,648
up €34,648 (+10497.5%), from €330 to €34,978
mainly Other debts (+€138,216) and Trade debts (+€4,662)
- Tangible fixed assets +€17,663
new in 2025: €17,663
- Stocks and contracts +€6,500
up €6,500 (+30.3%), from €21,472 to €27,972
- Receivables within one year +€2,835
up €2,835 (+1500.2%), from €189 to €3,024
- Other debts +€138,216
up €138,216 (+412.4%), from €33,519 to €171,735
- Profit (loss) carried forward -€18,440
down €18,440 (-141.2%), from -€13,063 to -€31,503
- Trade debts +€4,662
new in 2025: €4,662
- Tax, wage and social debts +€1,782
new in 2025: €1,782
- Gross operating margin -€9,234
down €9,234 (-2159.4%), from -€428 to -€9,662
- Staff costs +€6,068
new in 2025: €6,068
- Other operating charges +€912
up €912 (+237.1%), from €384 to €1,296
- Depreciation +€464
up €464 (+193.9%), from €239 to €704
- Financial charges +€110
up €110 (+18.3%), from €601 to €711
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 | €22,456 | €148,676 | +€126,220 | +562.1% |
| Formation expenses | 20 | €466 | €226 | -€239 | -51.4% |
| Fixed assets | 21/28 | - | €82,476 | +€82,476 | |
| Intangible fixed assets | 21 | - | €64,812 | +€64,812 | |
| Tangible fixed assets | 22/27 | - | €17,663 | +€17,663 | |
| Plant, machinery and equipment | 23 | - | €5,895 | +€5,895 | |
| Furniture and vehicles | 24 | - | €7,357 | +€7,357 | |
| Other tangible fixed assets | 26 | - | €4,410 | +€4,410 | |
| Current assets | 29/58 | €21,991 | €65,974 | +€43,984 | +200.0% |
| Stocks and contracts in progress | 3 | €21,472 | €27,972 | +€6,500 | +30.3% |
| Stocks | 30/36 | €21,472 | €27,972 | +€6,500 | +30.3% |
| Amounts receivable within one year | 40/41 | €189 | €3,024 | +€2,835 | +1500.2% |
| Other amounts receivable | 41 | €189 | €3,024 | +€2,835 | +1500.2% |
| Cash at bank and in hand | 54/58 | €330 | €34,978 | +€34,648 | +10497.5% |
| Total equity and liabilities | 10/49 | €22,456 | €148,676 | +€126,220 | +562.1% |
| Equity | 10/15 | -€11,063 | -€29,503 | -€18,440 | -166.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,063 | -€31,503 | -€18,440 | -141.2% |
| Amounts payable | 17/49 | €33,519 | €178,179 | +€144,660 | +431.6% |
| Amounts payable within one year | 42/48 | €33,519 | €178,179 | +€144,660 | +431.6% |
| Trade debts | 44 | - | €4,662 | +€4,662 | |
| Suppliers | 440/4 | - | €4,662 | +€4,662 | |
| Taxes, remuneration and social security | 45 | - | €1,782 | +€1,782 | |
| Remuneration and social security | 454/9 | - | €1,782 | +€1,782 | |
| Other amounts payable | 47/48 | €33,519 | €171,735 | +€138,216 | +412.4% |
| Remuneration, social security and pensions | 62 | - | €6,068 | +€6,068 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239 | €704 | +€464 | +193.9% |
| Other operating charges | 640/8 | €384 | €1,296 | +€912 | +237.1% |
| Gross operating margin | 9900 | -€428 | -€9,662 | -€9,234 | -2159.4% |
| Operating profit (loss) | 9901 | -€1,051 | -€17,729 | -€16,678 | -1586.2% |
| Financial charges | 65/66B | €601 | €711 | +€110 | +18.3% |
| Recurring financial charges | 65 | €601 | €711 | +€110 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,652 | -€18,440 | -€16,788 | -1016.1% |
| Profit (loss) for the period | 9904 | -€1,652 | -€18,440 | -€16,788 | -1016.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,652 | -€18,440 | -€16,788 | -1016.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.