Asec: 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.
Asec
Largest movements
- Receivables within one year +€108,493
up €108,493 (+577.8%), from €18,776 to €127,269
of which Other amounts receivable: +€99,811
- Cash +€57,351
up €57,351 (+36.1%), from €158,839 to €216,191
mainly Net result for the year (+€162,457) and Tax, wage and social debts (+€17,380)
- Tangible fixed assets +€15,133
up €15,133 (+189.7%), from €7,979 to €23,112
of which Other tangible fixed assets: +€17,314
- Profit (loss) carried forward +€162,457
new in 2025: €162,457
- Tax, wage and social debts +€17,380
up €17,380 (+37.7%), from €46,109 to €63,488
- Gross operating margin +€65,585
up €65,585 (+43.4%), from €150,983 to €216,568
- Taxes +€16,754
up €16,754 (+51.5%), from €32,546 to €49,299
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 | €190,485 | €371,042 | +€180,557 | +94.8% |
| Fixed assets | 21/28 | €7,979 | €23,112 | +€15,133 | +189.7% |
| Tangible fixed assets | 22/27 | €7,979 | €23,112 | +€15,133 | +189.7% |
| Plant, machinery and equipment | 23 | €1,760 | €1,096 | -€664 | -37.7% |
| Furniture and vehicles | 24 | €2,277 | €760 | -€1,517 | -66.6% |
| Other tangible fixed assets | 26 | €3,942 | €21,256 | +€17,314 | +439.2% |
| Current assets | 29/58 | €182,506 | €347,930 | +€165,424 | +90.6% |
| Amounts receivable within one year | 40/41 | €18,776 | €127,269 | +€108,493 | +577.8% |
| Trade receivables | 40 | €18,295 | €26,977 | +€8,682 | +47.5% |
| Other amounts receivable | 41 | €481 | €100,292 | +€99,811 | +20768.4% |
| Cash at bank and in hand | 54/58 | €158,839 | €216,191 | +€57,351 | +36.1% |
| Deferred charges and accrued income | 490/1 | €4,891 | €4,470 | -€421 | -8.6% |
| Total equity and liabilities | 10/49 | €190,485 | €371,042 | +€180,557 | +94.8% |
| Equity | 10/15 | €143,794 | €306,251 | +€162,457 | +113.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,794 | €140,794 | = | 0.0% |
| Distributable reserves | 133 | €140,794 | €140,794 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €162,457 | +€162,457 | |
| Amounts payable | 17/49 | €46,691 | €64,791 | +€18,100 | +38.8% |
| Amounts payable within one year | 42/48 | €46,691 | €64,791 | +€18,100 | +38.8% |
| Trade debts | 44 | €457 | €1,303 | +€845 | +184.9% |
| Suppliers | 440/4 | €457 | €1,303 | +€845 | +184.9% |
| Taxes, remuneration and social security | 45 | €46,109 | €63,488 | +€17,380 | +37.7% |
| Taxes | 450/3 | €46,109 | €63,488 | +€17,380 | +37.7% |
| Other amounts payable | 47/48 | €125 | €0 | -€125 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,602 | €4,320 | +€1,718 | +66.0% |
| Other operating charges | 640/8 | €234 | €0 | -€234 | -100.0% |
| Non-recurring operating charges | 66A | €2,479 | €0 | -€2,479 | -100.0% |
| Gross operating margin | 9900 | €150,983 | €216,568 | +€65,585 | +43.4% |
| Operating profit (loss) | 9901 | €145,669 | €212,248 | +€66,579 | +45.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €86 | €492 | +€407 | +473.4% |
| Recurring financial charges | 65 | €86 | €492 | +€407 | +473.4% |
| Profit (loss) for the period before taxes | 9903 | €145,583 | €211,756 | +€66,173 | +45.5% |
| Income taxes | 67/77 | €32,546 | €49,299 | +€16,754 | +51.5% |
| Profit (loss) for the period | 9904 | €113,037 | €162,457 | +€49,419 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €113,037 | €162,457 | +€49,419 | +43.7% |
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 9 October 2026 via checked.be.