ASERDI: 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.
ASERDI
Largest movements
- Cash +€84,521
up €84,521 (+115.7%), from €73,076 to €157,597
mainly Other debts (+€246,102) and Net result for the year (+€159,172)
- Receivables after one year +€20,000
up €20,000 (+11.9%), from €168,603 to €188,603
- Other debts +€246,102
up €246,102 (+418.4%), from €58,824 to €304,925
- Profit (loss) carried forward -€143,656
down €143,656 (-100.0%), from €143,656 to €0
- Trade debts +€7,296
up €7,296 (+1508.1%), from €484 to €7,780
- Tax, wage and social debts -€3,700
down €3,700 (-10.7%), from €34,451 to €30,751
- Gross operating margin +€32,728
up €32,728 (+18.7%), from €174,691 to €207,419
- Taxes +€6,728
up €6,728 (+15.8%), from €42,628 to €49,356
- Financial income +€2,380
up €2,380 (+49.6%), from €4,803 to €7,183
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 | €256,014 | €362,056 | +€106,042 | +41.4% |
| Fixed assets | 21/28 | €14,072 | €14,675 | +€603 | +4.3% |
| Tangible fixed assets | 22/27 | €11,572 | €12,175 | +€603 | +5.2% |
| Furniture and vehicles | 24 | €5,441 | €6,949 | +€1,508 | +27.7% |
| Other tangible fixed assets | 26 | €6,131 | €5,226 | -€905 | -14.8% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €241,942 | €347,381 | +€105,439 | +43.6% |
| Amounts receivable after more than one year | 29 | €168,603 | €188,603 | +€20,000 | +11.9% |
| Other amounts receivable | 291 | €168,603 | €188,603 | +€20,000 | +11.9% |
| Amounts receivable within one year | 40/41 | €86 | €730 | +€644 | +751.1% |
| Other amounts receivable | 41 | €86 | €730 | +€644 | +751.1% |
| Cash at bank and in hand | 54/58 | €73,076 | €157,597 | +€84,521 | +115.7% |
| Deferred charges and accrued income | 490/1 | €177 | €451 | +€274 | +154.1% |
| Total equity and liabilities | 10/49 | €256,014 | €362,056 | +€106,042 | +41.4% |
| Equity | 10/15 | €162,256 | €18,600 | -€143,656 | -88.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,656 | €0 | -€143,656 | -100.0% |
| Amounts payable | 17/49 | €93,758 | €343,456 | +€249,698 | +266.3% |
| Amounts payable within one year | 42/48 | €93,758 | €343,456 | +€249,698 | +266.3% |
| Trade debts | 44 | €484 | €7,780 | +€7,296 | +1508.1% |
| Suppliers | 440/4 | €484 | €7,780 | +€7,296 | +1508.1% |
| Taxes, remuneration and social security | 45 | €34,451 | €30,751 | -€3,700 | -10.7% |
| Taxes | 450/3 | €34,451 | €30,751 | -€3,700 | -10.7% |
| Other amounts payable | 47/48 | €58,824 | €304,925 | +€246,102 | +418.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,062 | €4,112 | +€1,050 | +34.3% |
| Other operating charges | 640/8 | €1,145 | €1,306 | +€162 | +14.1% |
| Non-recurring operating charges | 66A | €792 | €0 | -€792 | -100.0% |
| Gross operating margin | 9900 | €174,691 | €207,419 | +€32,728 | +18.7% |
| Operating profit (loss) | 9901 | €169,693 | €202,001 | +€32,308 | +19.0% |
| Financial income | 75/76B | €4,803 | €7,183 | +€2,380 | +49.6% |
| Recurring financial income | 75 | €4,803 | €7,183 | +€2,380 | +49.6% |
| Financial charges | 65/66B | €989 | €656 | -€332 | -33.6% |
| Recurring financial charges | 65 | €989 | €656 | -€332 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €173,507 | €208,528 | +€35,021 | +20.2% |
| Income taxes | 67/77 | €42,628 | €49,356 | +€6,728 | +15.8% |
| Profit (loss) for the period | 9904 | €130,879 | €159,172 | +€28,293 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €130,879 | €159,172 | +€28,293 | +21.6% |
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 5 October 2026 via checked.be.