ASGH: 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.
ASGH
Largest movements
- Tangible fixed assets +€95,660
up €95,660 (+14.1%), from €677,053 to €772,713
of which Leasing and similar rights: +€75,334
- Cash +€48,767
up €48,767 (+209.7%), from €23,257 to €72,024
mainly Depreciation (+€80,877) and Net result for the year (+€72,837)
- Receivables within one year -€35,301
down €35,301 (-37.1%), from €95,206 to €59,905
of which Trade receivables: -€49,738
- Deferred charges and accrued income +€18,616
up €18,616 (+286.0%), from €6,508 to €25,123
- Intangible fixed assets +€11,326
up €11,326 (+515.7%), from €2,196 to €13,523
- Reserves +€72,837
up €72,837 (+48.8%), from €149,282 to €222,119
of which Distributable reserves: +€72,837
- Debts after one year +€40,871
up €40,871 (+8.1%), from €501,834 to €542,705
- Trade debts +€14,998
up €14,998 (+37.3%), from €40,199 to €55,197
- Current portion of long-term debt +€14,633
up €14,633 (+19.6%), from €74,671 to €89,304
- Staff costs -€44,345
down €44,345 (-24.2%), from €183,176 to €138,831
- Write-downs -€25,869
down €25,869 (-100.0%), from €25,869 to €0
- Gross operating margin -€12,562
down €12,562 (-3.6%), from €349,049 to €336,487
- Taxes +€10,540
up €10,540 (+77.5%), from €13,601 to €24,140
- Depreciation +€4,371
up €4,371 (+5.7%), from €76,507 to €80,877
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 | €815,751 | €952,588 | +€136,837 | +16.8% |
| Fixed assets | 21/28 | €679,250 | €786,236 | +€106,986 | +15.8% |
| Intangible fixed assets | 21 | €2,196 | €13,523 | +€11,326 | +515.7% |
| Tangible fixed assets | 22/27 | €677,053 | €772,713 | +€95,660 | +14.1% |
| Land and buildings | 22 | €556,251 | €530,770 | -€25,481 | -4.6% |
| Plant, machinery and equipment | 23 | €26,892 | €28,132 | +€1,240 | +4.6% |
| Furniture and vehicles | 24 | €6,487 | €61,352 | +€54,865 | +845.8% |
| Leasing and similar rights | 25 | €77,126 | €152,459 | +€75,334 | +97.7% |
| Assets under construction and advance payments | 27 | €10,298 | €0 | -€10,298 | -100.0% |
| Current assets | 29/58 | €136,502 | €166,352 | +€29,850 | +21.9% |
| Stocks and contracts in progress | 3 | €11,531 | €9,300 | -€2,231 | -19.3% |
| Stocks | 30/36 | €11,531 | €9,300 | -€2,231 | -19.3% |
| Amounts receivable within one year | 40/41 | €95,206 | €59,905 | -€35,301 | -37.1% |
| Trade receivables | 40 | €86,733 | €36,995 | -€49,738 | -57.3% |
| Other amounts receivable | 41 | €8,473 | €22,910 | +€14,437 | +170.4% |
| Cash at bank and in hand | 54/58 | €23,257 | €72,024 | +€48,767 | +209.7% |
| Deferred charges and accrued income | 490/1 | €6,508 | €25,123 | +€18,616 | +286.0% |
| Total equity and liabilities | 10/49 | €815,751 | €952,588 | +€136,837 | +16.8% |
| Equity | 10/15 | €161,682 | €234,519 | +€72,837 | +45.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €149,282 | €222,119 | +€72,837 | +48.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €147,422 | €220,259 | +€72,837 | +49.4% |
| Amounts payable | 17/49 | €654,069 | €718,068 | +€63,999 | +9.8% |
| Amounts payable after more than one year | 17 | €501,834 | €542,705 | +€40,871 | +8.1% |
| Financial debts | 170/4 | €501,834 | €542,705 | +€40,871 | +8.1% |
| Amounts payable within one year | 42/48 | €143,233 | €175,363 | +€32,130 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €74,671 | €89,304 | +€14,633 | +19.6% |
| Trade debts | 44 | €40,199 | €55,197 | +€14,998 | +37.3% |
| Suppliers | 440/4 | €40,199 | €55,197 | +€14,998 | +37.3% |
| Taxes, remuneration and social security | 45 | €7,527 | €9,204 | +€1,678 | +22.3% |
| Taxes | 450/3 | €5,085 | €1,209 | -€3,877 | -76.2% |
| Remuneration and social security | 454/9 | €2,442 | €7,996 | +€5,554 | +227.5% |
| Other amounts payable | 47/48 | €20,836 | €21,657 | +€821 | +3.9% |
| Accrued charges and deferred income | 492/3 | €9,002 | €0 | -€9,002 | -100.0% |
| Non-recurring operating income | 76A | - | €72,396 | +€72,396 | |
| Remuneration, social security and pensions | 62 | €183,176 | €138,831 | -€44,345 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,507 | €80,877 | +€4,371 | +5.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,869 | €0 | -€25,869 | -100.0% |
| Other operating charges | 640/8 | €3,290 | €3,579 | +€290 | +8.8% |
| Gross operating margin | 9900 | €349,049 | €336,487 | -€12,562 | -3.6% |
| Operating profit (loss) | 9901 | €60,208 | €113,200 | +€52,992 | +88.0% |
| Financial income | 75/76B | €4,425 | €1,293 | -€3,132 | -70.8% |
| Recurring financial income | 75 | €4,425 | €1,293 | -€3,132 | -70.8% |
| Financial charges | 65/66B | €14,745 | €17,515 | +€2,770 | +18.8% |
| Recurring financial charges | 65 | €14,745 | €17,515 | +€2,770 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €49,887 | €96,977 | +€47,090 | +94.4% |
| Income taxes | 67/77 | €13,601 | €24,140 | +€10,540 | +77.5% |
| Profit (loss) for the period | 9904 | €36,287 | €72,837 | +€36,551 | +100.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,287 | €72,837 | +€36,551 | +100.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.