ASEKURO I: 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.
ASEKURO I
Largest movements
- Intangible fixed assets +€653,585
up €653,585 (+206%), from €316,603 to €970,188
- Financial fixed assets +€38,833
up €38,833 (+11.1%), from €350,167 to €389,000
- Receivables within one year -€26,039
down €26,039 (-26.4%), from €98,722 to €72,683
of which Other amounts receivable: -€45,937
- Cash -€21,260
down €21,260 (-73.2%), from €29,061 to €7,801
mainly Investment in fixed assets (net) (-€807,355) and Contributions, distributions and other (-€50,000)
- Debts after one year +€520,207
up €520,207 (+83.0%), from €626,388 to €1.1m
- Current portion of long-term debt +€59,935
up €59,935 (+97.1%), from €61,694 to €121,629
- Other debts +€51,643
up €51,643 (+74.4%), from €69,413 to €121,055
- Trade debts +€26,310
up €26,310 (+551%), from €4,772 to €31,082
- Gross operating margin +€159,675
up €159,675 (+152%), from €104,942 to €264,616
- Staff costs +€68,838
new in 2025: €68,838
- Depreciation +€68,827
up €68,827 (+163%), from €42,215 to €111,041
- Financial charges +€30,566
up €30,566 (+197%), from €15,493 to €46,059
- Financial income -€21,842
down €21,842 (-53.3%), from €40,967 to €19,126
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €818,107 | €1,467,460 | +€649,353 | +79.4% |
| Fixed assets | 21/28 | €690,324 | €1,386,638 | +€696,314 | +101% |
| Intangible fixed assets | 21 | €316,603 | €970,188 | +€653,585 | +206% |
| Tangible fixed assets | 22/27 | €23,554 | €27,450 | +€3,896 | +16.5% |
| Plant, machinery and equipment | 23 | - | €7,865 | +€7,865 | |
| Furniture and vehicles | 24 | €5,464 | €2,917 | -€2,547 | -46.6% |
| Other tangible fixed assets | 26 | €18,090 | €16,669 | -€1,422 | -7.9% |
| Financial fixed assets | 28 | €350,167 | €389,000 | +€38,833 | +11.1% |
| Current assets | 29/58 | €127,783 | €80,822 | -€46,961 | -36.8% |
| Amounts receivable within one year | 40/41 | €98,722 | €72,683 | -€26,039 | -26.4% |
| Trade receivables | 40 | €25,685 | €45,584 | +€19,899 | +77.5% |
| Other amounts receivable | 41 | €73,037 | €27,100 | -€45,937 | -62.9% |
| Cash at bank and in hand | 54/58 | €29,061 | €7,801 | -€21,260 | -73.2% |
| Deferred charges and accrued income | 490/1 | €0 | €337 | +€337 | |
| Total equity and liabilities | 10/49 | €818,107 | €1,467,460 | +€649,353 | +79.4% |
| Equity | 10/15 | €33,946 | €39,809 | +€5,863 | +17.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €28,946 | €34,809 | +€5,863 | +20.3% |
| Distributable reserves | 133 | €28,946 | €34,809 | +€5,863 | +20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €784,161 | €1,427,652 | +€643,490 | +82.1% |
| Amounts payable after more than one year | 17 | €626,388 | €1,146,596 | +€520,207 | +83.0% |
| Financial debts | 170/4 | €626,388 | €1,146,596 | +€520,207 | +83.0% |
| Amounts payable within one year | 42/48 | €157,773 | €281,056 | +€123,283 | +78.1% |
| Current portion of amounts payable after more than one year | 42 | €61,694 | €121,629 | +€59,935 | +97.1% |
| Financial debts | 43 | €383 | €341 | -€42 | -10.9% |
| Credit institutions | 430/8 | €383 | €341 | -€42 | -10.9% |
| Trade debts | 44 | €4,772 | €31,082 | +€26,310 | +551% |
| Suppliers | 440/4 | €4,772 | €31,082 | +€26,310 | +551% |
| Advances received on contracts in progress | 46 | €770 | €770 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €20,741 | €6,178 | -€14,563 | -70.2% |
| Taxes | 450/3 | €20,741 | €0 | -€20,741 | -100% |
| Remuneration and social security | 454/9 | - | €6,178 | +€6,178 | |
| Other amounts payable | 47/48 | €69,413 | €121,055 | +€51,643 | +74.4% |
| Remuneration, social security and pensions | 62 | - | €68,838 | +€68,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,215 | €111,041 | +€68,827 | +163% |
| Other operating charges | 640/8 | €1,534 | €1,005 | -€530 | -34.5% |
| Gross operating margin | 9900 | €104,942 | €264,616 | +€159,675 | +152% |
| Operating profit (loss) | 9901 | €61,193 | €83,732 | +€22,540 | +36.8% |
| Financial income | 75/76B | €40,967 | €19,126 | -€21,842 | -53.3% |
| Recurring financial income | 75 | €40,967 | €19,126 | -€21,842 | -53.3% |
| Financial charges | 65/66B | €15,493 | €46,059 | +€30,566 | +197% |
| Recurring financial charges | 65 | €15,493 | €46,059 | +€30,566 | +197% |
| Profit (loss) for the period before taxes | 9903 | €86,666 | €56,799 | -€29,868 | -34.5% |
| Income taxes | 67/77 | €13,219 | €936 | -€12,283 | -92.9% |
| Profit (loss) for the period | 9904 | €73,447 | €55,863 | -€17,585 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,447 | €55,863 | -€17,585 | -23.9% |
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 19 October 2026 via checked.be.