ASG CONSTRUCTION: 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.
ASG CONSTRUCTION
Largest movements
- Receivables within one year +€51,717
up €51,717 (+20.2%), from €256,653 to €308,369
of which Trade receivables: +€52,415
- Tangible fixed assets -€33,190
down €33,190 (-2.8%), from €1.2m to €1.2m
of which Land and buildings: -€24,971
- Stocks and contracts +€18,668
new in 2025: €18,668
- Advances received +€125,652
up €125,652 (+1,543%), from €8,143 to €133,795
- Debts after one year -€77,853
down €77,853 (-14.9%), from €522,403 to €444,551
of which Financial debts: -€82,793
- Other debts -€72,089
down €72,089 (-24.9%), from €289,636 to €217,547
- Profit (loss) carried forward +€66,908
up €66,908 (+16.8%), from €397,448 to €464,357
- Tax, wage and social debts -€37,060
down €37,060 (-39.6%), from €93,511 to €56,452
- Other operating charges -€33,217
down €33,217 (-82.4%), from €40,325 to €7,108
- Taxes +€7,314
up €7,314 (+41.0%), from €17,840 to €25,154
- Gross operating margin +€4,320
up €4,320 (+3.1%), from €137,291 to €141,611
- Financial charges -€3,662
down €3,662 (-25.4%), from €14,401 to €10,740
- Depreciation +€3,342
up €3,342 (+11.8%), from €28,359 to €31,702
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 | €1,454,252 | €1,487,912 | +€33,660 | +2.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,190,171 | €1,156,981 | -€33,190 | -2.8% |
| Tangible fixed assets | 22/27 | €1,186,749 | €1,153,559 | -€33,190 | -2.8% |
| Land and buildings | 22 | €1,166,922 | €1,141,951 | -€24,971 | -2.1% |
| Plant, machinery and equipment | 23 | €1,008 | €966 | -€42 | -4.1% |
| Furniture and vehicles | 24 | €18,819 | €10,642 | -€8,177 | -43.5% |
| Financial fixed assets | 28 | €3,422 | €3,422 | -€0 | 0.0% |
| Current assets | 29/58 | €264,081 | €330,931 | +€66,850 | +25.3% |
| Stocks and contracts in progress | 3 | - | €18,668 | +€18,668 | |
| Stocks | 30/36 | - | €18,668 | +€18,668 | |
| Amounts receivable within one year | 40/41 | €256,653 | €308,369 | +€51,717 | +20.2% |
| Trade receivables | 40 | €255,955 | €308,369 | +€52,415 | +20.5% |
| Other amounts receivable | 41 | €698 | - | -€698 | |
| Cash at bank and in hand | 54/58 | €6,892 | €3,775 | -€3,118 | -45.2% |
| Deferred charges and accrued income | 490/1 | €536 | €119 | -€417 | -77.8% |
| Total equity and liabilities | 10/49 | €1,454,252 | €1,487,912 | +€33,660 | +2.3% |
| Equity | 10/15 | €436,658 | €503,567 | +€66,908 | +15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €397,448 | €464,357 | +€66,908 | +16.8% |
| Amounts payable | 17/49 | €1,017,594 | €984,345 | -€33,248 | -3.3% |
| Amounts payable after more than one year | 17 | €522,403 | €444,551 | -€77,853 | -14.9% |
| Financial debts | 170/4 | €521,431 | €438,638 | -€82,793 | -15.9% |
| Other amounts payable | 178/9 | €973 | €5,913 | +€4,940 | +508% |
| Amounts payable within one year | 42/48 | €495,190 | €539,095 | +€43,904 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €81,305 | €82,793 | +€1,487 | +1.8% |
| Trade debts | 44 | €22,595 | €48,508 | +€25,913 | +115% |
| Suppliers | 440/4 | €22,595 | €48,508 | +€25,913 | +115% |
| Advances received on contracts in progress | 46 | €8,143 | €133,795 | +€125,652 | +1,543% |
| Taxes, remuneration and social security | 45 | €93,511 | €56,452 | -€37,060 | -39.6% |
| Taxes | 450/3 | €93,511 | €56,452 | -€37,060 | -39.6% |
| Other amounts payable | 47/48 | €289,636 | €217,547 | -€72,089 | -24.9% |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,359 | €31,702 | +€3,342 | +11.8% |
| Other operating charges | 640/8 | €40,325 | €7,108 | -€33,217 | -82.4% |
| Gross operating margin | 9900 | €137,291 | €141,611 | +€4,320 | +3.1% |
| Operating profit (loss) | 9901 | €68,607 | €102,802 | +€34,195 | +49.8% |
| Financial income | 75/76B | €1 | €1 | -€0 | -15.8% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -15.8% |
| Financial charges | 65/66B | €14,401 | €10,740 | -€3,662 | -25.4% |
| Recurring financial charges | 65 | €14,401 | €10,740 | -€3,662 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €54,206 | €92,062 | +€37,856 | +69.8% |
| Income taxes | 67/77 | €17,840 | €25,154 | +€7,314 | +41.0% |
| Profit (loss) for the period | 9904 | €36,366 | €66,908 | +€30,542 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,366 | €66,908 | +€30,542 | +84.0% |
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 17 October 2026 via checked.be.