ASGEFIM: 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.
ASGEFIM
Largest movements
- Financial fixed assets -€185,993
down €185,993 (-37.5%), from €496,121 to €310,128
- Current investments +€50,246
up €50,246 (+5.6%), from €890,516 to €940,762
- Tangible fixed assets -€29,393
down €29,393 (-2.4%), from €1.2m to €1.2m
- Profit (loss) carried forward -€89,590
down €89,590 (-124%), from -€72,353 to -€161,943
- Debts after one year -€70,927
down €70,927 (-15.4%), from €460,294 to €389,367
- Financial income +€29,954
up €29,954 (+73.7%), from €40,657 to €70,611
- Financial charges +€9,954
up €9,954 (+17.3%), from €57,459 to €67,413
- Depreciation -€2,624
down €2,624 (-8.2%), from €32,017 to €29,393
- Gross operating margin +€2,453
up €2,453 (+4.4%), from -€56,053 to -€53,600
- Other operating charges +€800
up €800 (+9.4%), from €8,498 to €9,298
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 | €2,709,056 | €2,545,077 | -€163,979 | -6.1% |
| Fixed assets | 21/28 | €1,713,106 | €1,497,720 | -€215,385 | -12.6% |
| Tangible fixed assets | 22/27 | €1,216,985 | €1,187,592 | -€29,393 | -2.4% |
| Land and buildings | 22 | €1,216,985 | €1,187,592 | -€29,393 | -2.4% |
| Financial fixed assets | 28 | €496,121 | €310,128 | -€185,993 | -37.5% |
| Current assets | 29/58 | €995,951 | €1,047,357 | +€51,406 | +5.2% |
| Amounts receivable within one year | 40/41 | €46,031 | €61,012 | +€14,982 | +32.5% |
| Other amounts receivable | 41 | €46,031 | €61,012 | +€14,982 | +32.5% |
| Current investments | 50/53 | €890,516 | €940,762 | +€50,246 | +5.6% |
| Cash at bank and in hand | 54/58 | €24,872 | €18,409 | -€6,463 | -26.0% |
| Deferred charges and accrued income | 490/1 | €34,532 | €27,173 | -€7,359 | -21.3% |
| Total equity and liabilities | 10/49 | €2,709,056 | €2,545,077 | -€163,979 | -6.1% |
| Equity | 10/15 | €1,759,498 | €1,669,907 | -€89,590 | -5.1% |
| Contributions | 10/11 | €1,751,851 | €1,751,851 | = | 0.0% |
| Capital | 10 | €1,750,000 | €1,750,000 | = | 0.0% |
| Issued capital | 100 | €1,750,000 | €1,750,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,851 | €1,851 | = | 0.0% |
| Share premium | 1100/10 | €1,851 | €1,851 | = | 0.0% |
| Reserves | 13 | €80,000 | €80,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,353 | -€161,943 | -€89,590 | -124% |
| Amounts payable | 17/49 | €949,558 | €875,170 | -€74,389 | -7.8% |
| Amounts payable after more than one year | 17 | €460,294 | €389,367 | -€70,927 | -15.4% |
| Financial debts | 170/4 | €460,294 | €389,367 | -€70,927 | -15.4% |
| Amounts payable within one year | 42/48 | €489,265 | €485,803 | -€3,462 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €71,655 | €70,927 | -€728 | -1.0% |
| Trade debts | 44 | €647 | €795 | +€147 | +22.7% |
| Suppliers | 440/4 | €647 | €795 | +€147 | +22.7% |
| Taxes, remuneration and social security | 45 | €9,901 | €8,385 | -€1,516 | -15.3% |
| Taxes | 450/3 | €9,901 | €8,385 | -€1,516 | -15.3% |
| Other amounts payable | 47/48 | €407,061 | €405,697 | -€1,365 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,017 | €29,393 | -€2,624 | -8.2% |
| Other operating charges | 640/8 | €8,498 | €9,298 | +€800 | +9.4% |
| Gross operating margin | 9900 | -€56,053 | -€53,600 | +€2,453 | +4.4% |
| Operating profit (loss) | 9901 | -€96,568 | -€92,291 | +€4,277 | +4.4% |
| Financial income | 75/76B | €40,657 | €70,611 | +€29,954 | +73.7% |
| Recurring financial income | 75 | €40,657 | €70,611 | +€29,954 | +73.7% |
| Financial charges | 65/66B | €57,459 | €67,413 | +€9,954 | +17.3% |
| Recurring financial charges | 65 | €57,459 | €67,413 | +€9,954 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€113,370 | -€89,092 | +€24,277 | +21.4% |
| Income taxes | 67/77 | €725 | €498 | -€228 | -31.4% |
| Profit (loss) for the period | 9904 | -€114,095 | -€89,590 | +€24,505 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€114,095 | -€89,590 | +€24,505 | +21.5% |
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 22 October 2026 via checked.be.