ASED: 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.
ASED
Largest movements
- Receivables within one year +€30,000
new in 2025: €30,000
- Cash -€2,941
down €2,941 (-92.2%), from €3,190 to €249
mainly Other debts (-€237,684) and Receivables within one year (-€30,000)
- Profit (loss) carried forward +€264,431
up €264,431 (+13.6%), from -€1.9m to -€1.7m
- Other debts -€237,684
down €237,684 (-80.9%), from €293,708 to €56,024
- Tax, wage and social debts +€1,150
up €1,150 (+23.5%), from €4,895 to €6,045
- Trade debts -€838
no longer reported in 2025 (was €838)
- Gross operating margin +€24,414
up €24,414 (+10.0%), from €243,356 to €267,770
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 | €3,190 | €30,249 | +€27,059 | +848.2% |
| Current assets | 29/58 | €3,190 | €30,249 | +€27,059 | +848.2% |
| Amounts receivable within one year | 40/41 | - | €30,000 | +€30,000 | |
| Other amounts receivable | 41 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €3,190 | €249 | -€2,941 | -92.2% |
| Total equity and liabilities | 10/49 | €3,190 | €30,249 | +€27,059 | +848.2% |
| Equity | 10/15 | -€296,251 | -€31,820 | +€264,431 | +89.3% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €150,000 | €150,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,946,251 | -€1,681,820 | +€264,431 | +13.6% |
| Amounts payable | 17/49 | €299,441 | €62,069 | -€237,372 | -79.3% |
| Amounts payable within one year | 42/48 | €299,441 | €62,069 | -€237,372 | -79.3% |
| Trade debts | 44 | €838 | - | -€838 | |
| Suppliers | 440/4 | €838 | - | -€838 | |
| Taxes, remuneration and social security | 45 | €4,895 | €6,045 | +€1,150 | +23.5% |
| Taxes | 450/3 | €4,895 | €6,045 | +€1,150 | +23.5% |
| Other amounts payable | 47/48 | €293,708 | €56,024 | -€237,684 | -80.9% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €243,356 | €267,770 | +€24,414 | +10.0% |
| Operating profit (loss) | 9901 | €243,238 | €267,650 | +€24,412 | +10.0% |
| Financial charges | 65/66B | €5,599 | €3,219 | -€2,380 | -42.5% |
| Recurring financial charges | 65 | €5,599 | €3,219 | -€2,380 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €237,639 | €264,431 | +€26,792 | +11.3% |
| Profit (loss) for the period | 9904 | €237,639 | €264,431 | +€26,792 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €237,639 | €264,431 | +€26,792 | +11.3% |
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 8 October 2026 via checked.be.