ASECO: 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.
ASECO
Largest movements
- Cash +€86,643
up €86,643 (+572.8%), from €15,125 to €101,768
mainly Current portion of long-term debt (+€60,000) and Net result for the year (+€36,633)
- Receivables within one year +€22,505
up €22,505 (+54.3%), from €41,464 to €63,969
of which Trade receivables: +€28,652
- Tangible fixed assets -€11,781
down €11,781 (-91.4%), from €12,895 to €1,114
of which Furniture and vehicles: -€11,498
- Stocks and contracts -€4,616
no longer reported in 2025 (was €4,616)
- Current portion of long-term debt +€60,000
new in 2025: €60,000
- Profit (loss) carried forward +€36,633
up €36,633 (+250.6%), from €14,621 to €51,254
- Accrued charges and deferred income +€32,016
new in 2025: €32,016
- Other debts -€19,785
down €19,785 (-93.0%), from €21,266 to €1,481
- Trade debts -€13,464
down €13,464 (-67.0%), from €20,096 to €6,632
- Gross operating margin +€38,190
up €38,190 (+240.8%), from €15,856 to €54,046
- Taxes +€9,977
up €9,977 (+540.7%), from €1,845 to €11,822
- Depreciation -€6,524
down €6,524 (-86.3%), from €7,562 to €1,038
- Other operating charges +€3,429
up €3,429 (+2512.1%), from €137 to €3,565
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 | €76,351 | €170,442 | +€94,091 | +123.2% |
| Fixed assets | 21/28 | €15,145 | €4,704 | -€10,441 | -68.9% |
| Tangible fixed assets | 22/27 | €12,895 | €1,114 | -€11,781 | -91.4% |
| Plant, machinery and equipment | 23 | €283 | - | -€283 | |
| Furniture and vehicles | 24 | €12,612 | €1,114 | -€11,498 | -91.2% |
| Financial fixed assets | 28 | €2,250 | €3,590 | +€1,340 | +59.6% |
| Current assets | 29/58 | €61,205 | €165,738 | +€104,532 | +170.8% |
| Stocks and contracts in progress | 3 | €4,616 | - | -€4,616 | |
| Stocks | 30/36 | €4,616 | - | -€4,616 | |
| Amounts receivable within one year | 40/41 | €41,464 | €63,969 | +€22,505 | +54.3% |
| Trade receivables | 40 | €35,317 | €63,969 | +€28,652 | +81.1% |
| Other amounts receivable | 41 | €6,147 | - | -€6,147 | |
| Cash at bank and in hand | 54/58 | €15,125 | €101,768 | +€86,643 | +572.8% |
| Total equity and liabilities | 10/49 | €76,351 | €170,442 | +€94,091 | +123.2% |
| Equity | 10/15 | €20,621 | €57,254 | +€36,633 | +177.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,621 | €51,254 | +€36,633 | +250.6% |
| Amounts payable | 17/49 | €55,730 | €113,187 | +€57,458 | +103.1% |
| Amounts payable within one year | 42/48 | €55,730 | €81,171 | +€25,441 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €20,096 | €6,632 | -€13,464 | -67.0% |
| Suppliers | 440/4 | €20,096 | €6,632 | -€13,464 | -67.0% |
| Advances received on contracts in progress | 46 | €11,500 | - | -€11,500 | |
| Taxes, remuneration and social security | 45 | €2,867 | €13,058 | +€10,191 | +355.4% |
| Taxes | 450/3 | €2,867 | €13,058 | +€10,191 | +355.4% |
| Other amounts payable | 47/48 | €21,266 | €1,481 | -€19,785 | -93.0% |
| Accrued charges and deferred income | 492/3 | - | €32,016 | +€32,016 | |
| Non-recurring operating income | 76A | - | €2,065 | +€2,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,562 | €1,038 | -€6,524 | -86.3% |
| Other operating charges | 640/8 | €137 | €3,565 | +€3,429 | +2512.1% |
| Gross operating margin | 9900 | €15,856 | €54,046 | +€38,190 | +240.8% |
| Operating profit (loss) | 9901 | €8,158 | €49,443 | +€41,285 | +506.1% |
| Financial charges | 65/66B | €759 | €988 | +€229 | +30.2% |
| Recurring financial charges | 65 | €759 | €988 | +€229 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €7,399 | €48,455 | +€41,056 | +554.9% |
| Income taxes | 67/77 | €1,845 | €11,822 | +€9,977 | +540.7% |
| Profit (loss) for the period | 9904 | €5,554 | €36,633 | +€31,079 | +559.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,554 | €36,633 | +€31,079 | +559.6% |
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 12 October 2026 via checked.be.