ASG: 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.
ASG
Largest movements
- Cash +€144,419
up €144,419 (+465.2%), from €31,046 to €175,465
mainly Net result for the year (+€117,587) and Receivables within one year (+€92,396)
- Receivables within one year -€92,396
down €92,396 (-67.3%), from €137,316 to €44,920
of which Trade receivables: -€92,401
- Receivables after one year +€88,830
up €88,830 (+59.9%), from €148,333 to €237,163
- Tangible fixed assets +€11,406
new in 2025: €11,406
- Profit (loss) carried forward +€117,587
new in 2025: €117,587
- Tax, wage and social debts +€34,389
up €34,389 (+44.4%), from €77,489 to €111,878
of which Taxes: +€33,289
- Gross operating margin -€50,521
down €50,521 (-24.7%), from €204,617 to €154,096
- Taxes -€27,390
down €27,390 (-44.6%), from €61,428 to €34,038
- Depreciation +€2,118
new in 2025: €2,118
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 | €316,695 | €469,335 | +€152,640 | +48.2% |
| Fixed assets | 21/28 | - | €11,406 | +€11,406 | |
| Tangible fixed assets | 22/27 | - | €11,406 | +€11,406 | |
| Furniture and vehicles | 24 | - | €11,406 | +€11,406 | |
| Current assets | 29/58 | €316,695 | €457,929 | +€141,234 | +44.6% |
| Amounts receivable after more than one year | 29 | €148,333 | €237,163 | +€88,830 | +59.9% |
| Other amounts receivable | 291 | €148,333 | €237,163 | +€88,830 | +59.9% |
| Amounts receivable within one year | 40/41 | €137,316 | €44,920 | -€92,396 | -67.3% |
| Trade receivables | 40 | €137,316 | €44,915 | -€92,401 | -67.3% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €31,046 | €175,465 | +€144,419 | +465.2% |
| Deferred charges and accrued income | 490/1 | - | €382 | +€382 | |
| Total equity and liabilities | 10/49 | €316,695 | €469,335 | +€152,640 | +48.2% |
| Equity | 10/15 | €235,825 | €353,411 | +€117,587 | +49.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €233,825 | €233,825 | = | 0.0% |
| Distributable reserves | 133 | €233,825 | €233,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €117,587 | +€117,587 | |
| Amounts payable | 17/49 | €80,870 | €115,923 | +€35,053 | +43.3% |
| Amounts payable within one year | 42/48 | €78,870 | €115,923 | +€37,053 | +47.0% |
| Trade debts | 44 | €836 | €67 | -€769 | -92.0% |
| Suppliers | 440/4 | €836 | €67 | -€769 | -92.0% |
| Taxes, remuneration and social security | 45 | €77,489 | €111,878 | +€34,389 | +44.4% |
| Taxes | 450/3 | €76,589 | €109,878 | +€33,289 | +43.5% |
| Remuneration and social security | 454/9 | €900 | €2,000 | +€1,100 | +122.2% |
| Other amounts payable | 47/48 | €545 | €3,979 | +€3,434 | +630.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €0 | -€2,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,118 | +€2,118 | |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €204,617 | €154,096 | -€50,521 | -24.7% |
| Operating profit (loss) | 9901 | €203,945 | €151,284 | -€52,661 | -25.8% |
| Financial income | 75/76B | €798 | €382 | -€417 | -52.2% |
| Recurring financial income | 75 | €798 | €382 | -€417 | -52.2% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.1% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €204,700 | €151,625 | -€53,075 | -25.9% |
| Income taxes | 67/77 | €61,428 | €34,038 | -€27,390 | -44.6% |
| Profit (loss) for the period | 9904 | €143,271 | €117,587 | -€25,685 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €143,271 | €117,587 | -€25,685 | -17.9% |
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.