ASE GROUP: 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.
What changed
ASE GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.6m
2024 · -€177,760+€3.8m
Equity
€19.7m
2024 · €18.0m+€1.7m
Cash
€58,820
2024 · €25,681+€33,139
Balance sheet total
€30.6m
2024 · €28.6m+€2.0m
Largest movements
Assets
- Current investments +€1.9m
new in 2025: €1.9m
Equity and liabilities
- Profit (loss) carried forward +€1.5m
up €1.5m, from -€177,760 to €1.3m
- Other debts +€1.3m
up €1.3m (+198%), from €638,398 to €1.9m
- Debts after one year -€1.0m
down €1.0m (-11.1%), from €9.0m to €8.0m
Income statement
- Financial income +€4.0m
new in 2025: €4.0m
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.
Result 2024
-€177,760
Other operating charges
-€120
Other operating items
-€144,703
Financial income
+€4.0m
Financial charges
-€95,410
Taxes
-€3,324
Result 2025
€3.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.8m
Investment
-€1.9m
Financing
-€2.9m
Cash 2024
€25,681
From operations (derived)
+€4.8m
Net result for the year
+€3.6m
Receivables within one year
-€19,344
Trade debts
+€1,118
Other debts
+€1.3m
Investment (derived)
-€1.9m
Current investments
-€1.9m
Financing
-€2.9m
Debts after one year
-€1.0m
Contributions, distributions and other
-€1.9m
Cash 2025
€58,820
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,623,271 | €30,575,754 | +€2.0m | +6.8% |
| Fixed assets | 21/28 | €28,592,086 | €28,592,086 | = | 0.0% |
| Financial fixed assets | 28 | €28,592,086 | €28,592,086 | = | 0.0% |
| Affiliated companies | 280/1 | €28,592,086 | €28,592,086 | = | 0.0% |
| Participating interests | 280 | €28,592,086 | €28,592,086 | = | 0.0% |
| Current assets | 29/58 | €31,185 | €1,983,668 | +€2.0m | +6,261% |
| Amounts receivable within one year | 40/41 | €5,504 | €24,848 | +€19,344 | +351% |
| Other amounts receivable | 41 | €5,504 | €24,848 | +€19,344 | +351% |
| Current investments | 50/53 | - | €1,900,000 | +€1.9m | |
| Other investments | 51/53 | - | €1,900,000 | +€1.9m | |
| Cash at bank and in hand | 54/58 | €25,681 | €58,820 | +€33,139 | +129% |
| Total equity and liabilities | 10/49 | €28,623,271 | €30,575,754 | +€2.0m | +6.8% |
| Equity | 10/15 | €17,970,020 | €19,659,784 | +€1.7m | +9.4% |
| Contributions | 10/11 | €18,147,500 | €18,147,500 | = | 0.0% |
| Capital | 10 | €18,147,500 | €18,147,500 | = | 0.0% |
| Issued capital | 100 | €18,147,500 | €18,147,500 | = | 0.0% |
| Reserves | 13 | €281 | €179,769 | +€179,488 | +63,966% |
| Non-distributable reserves | 130/1 | €29 | €179,517 | +€179,488 | +616,374% |
| Legal reserve | 130 | €28 | €179,516 | +€179,488 | +650,791% |
| Reserves not available under the articles | 1311 | €2 | €2 | = | 0.0% |
| Tax-exempt reserves | 132 | €17 | €17 | = | 0.0% |
| Distributable reserves | 133 | €235 | €235 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,760 | €1,332,515 | +€1.5m | |
| Amounts payable | 17/49 | €10,653,251 | €10,915,970 | +€262,719 | +2.5% |
| Amounts payable after more than one year | 17 | €9,006,305 | €8,006,305 | -€1.0m | -11.1% |
| Financial debts | 170/4 | €9,006,305 | €8,006,305 | -€1.0m | -11.1% |
| Subordinated loans | 170 | €9,006,305 | €8,006,305 | -€1.0m | -11.1% |
| Amounts payable within one year | 42/48 | €1,646,946 | €2,909,665 | +€1.3m | +76.7% |
| Current portion of amounts payable after more than one year | 42 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €8,547 | €9,665 | +€1,118 | +13.1% |
| Suppliers | 440/4 | €8,547 | €9,665 | +€1,118 | +13.1% |
| Other amounts payable | 47/48 | €638,398 | €1,900,000 | +€1.3m | +198% |
| Operating charges | 60/66A | €27,349 | €172,172 | +€144,823 | +530% |
| Services and other goods | 61 | €27,349 | €172,052 | +€144,703 | +529% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Operating profit (loss) | 9901 | -€27,349 | -€172,172 | -€144,823 | -530% |
| Financial income | 75/76B | - | €4,011,081 | +€4.0m | |
| Recurring financial income | 75 | - | €4,011,081 | +€4.0m | |
| Income from financial fixed assets | 750 | - | €4,000,000 | +€4.0m | |
| Income from current assets | 751 | - | €11,081 | +€11,081 | |
| Financial charges | 65/66B | €150,412 | €245,821 | +€95,410 | +63.4% |
| Recurring financial charges | 65 | €150,412 | €245,821 | +€95,410 | +63.4% |
| Debt charges | 650 | €150,398 | €245,521 | +€95,122 | +63.2% |
| Other financial charges | 652/9 | €13 | €301 | +€287 | +2,175% |
| Profit (loss) for the period before taxes | 9903 | -€177,760 | €3,593,088 | +€3.8m | |
| Income taxes | 67/77 | - | €3,324 | +€3,324 | |
| Taxes | 670/3 | - | €3,324 | +€3,324 | |
| Profit (loss) for the period | 9904 | -€177,760 | €3,589,764 | +€3.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€177,760 | €3,589,764 | +€3.8m |
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 16 October 2026 via checked.be.