Ash Group: 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.
Ash Group
Largest movements
- Deferred charges and accrued income -€40,721
down €40,721 (-79.3%), from €51,360 to €10,640
- Tangible fixed assets -€26,538
down €26,538 (-5.4%), from €494,169 to €467,631
- Receivables within one year -€10,996
down €10,996 (-20.7%), from €53,207 to €42,211
of which Trade receivables: -€15,074
- Cash +€10,802
up €10,802 (+80.5%), from €13,416 to €24,218
mainly Debts after one year (+€297,537) and Deferred charges and accrued income (+€40,721)
- Current portion of long-term debt -€319,027
down €319,027 (-81.4%), from €391,789 to €72,762
- Debts after one year +€297,537
up €297,537 (+1,282%), from €23,210 to €320,746
- Other debts -€25,170
down €25,170 (-47.5%), from €52,964 to €27,794
- Trade debts -€24,013
down €24,013 (-42.0%), from €57,120 to €33,107
- Staff costs -€62,859
down €62,859 (-51.2%), from €122,751 to €59,892
- Gross operating margin -€51,469
down €51,469 (-28.2%), from €182,300 to €130,831
- Taxes -€4,798
down €4,798 (-70.9%), from €6,767 to €1,970
- Depreciation +€4,624
up €4,624 (+13.2%), from €34,939 to €39,562
- Financial charges +€1,882
up €1,882 (+8.4%), from €22,441 to €24,322
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 | €626,599 | €554,675 | -€71,925 | -11.5% |
| Fixed assets | 21/28 | €494,169 | €467,631 | -€26,538 | -5.4% |
| Tangible fixed assets | 22/27 | €494,169 | €467,631 | -€26,538 | -5.4% |
| Land and buildings | 22 | €448,165 | €436,994 | -€11,171 | -2.5% |
| Plant, machinery and equipment | 23 | €31,736 | €22,225 | -€9,511 | -30.0% |
| Furniture and vehicles | 24 | €2,815 | €2,006 | -€809 | -28.7% |
| Leasing and similar rights | 25 | €11,453 | €6,406 | -€5,047 | -44.1% |
| Current assets | 29/58 | €132,431 | €87,044 | -€45,387 | -34.3% |
| Stocks and contracts in progress | 3 | €14,447 | €9,975 | -€4,472 | -31.0% |
| Stocks | 30/36 | €11,199 | €9,975 | -€1,224 | -10.9% |
| Contracts in progress | 37 | €3,248 | €0 | -€3,248 | -100% |
| Amounts receivable within one year | 40/41 | €53,207 | €42,211 | -€10,996 | -20.7% |
| Trade receivables | 40 | €53,207 | €38,133 | -€15,074 | -28.3% |
| Other amounts receivable | 41 | €0 | €4,078 | +€4,078 | |
| Cash at bank and in hand | 54/58 | €13,416 | €24,218 | +€10,802 | +80.5% |
| Deferred charges and accrued income | 490/1 | €51,360 | €10,640 | -€40,721 | -79.3% |
| Total equity and liabilities | 10/49 | €626,599 | €554,675 | -€71,925 | -11.5% |
| Equity | 10/15 | €88,039 | €89,407 | +€1,368 | +1.6% |
| Contributions | 10/11 | €46,059 | €46,059 | = | 0.0% |
| Reserves | 13 | €41,980 | €41,980 | = | 0.0% |
| Distributable reserves | 133 | €41,980 | €41,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,368 | +€1,368 | |
| Amounts payable | 17/49 | €538,560 | €465,268 | -€73,292 | -13.6% |
| Amounts payable after more than one year | 17 | €23,210 | €320,746 | +€297,537 | +1,282% |
| Financial debts | 170/4 | €23,210 | €320,746 | +€297,537 | +1,282% |
| Amounts payable within one year | 42/48 | €514,105 | €143,337 | -€370,768 | -72.1% |
| Current portion of amounts payable after more than one year | 42 | €391,789 | €72,762 | -€319,027 | -81.4% |
| Trade debts | 44 | €57,120 | €33,107 | -€24,013 | -42.0% |
| Suppliers | 440/4 | €57,120 | €33,107 | -€24,013 | -42.0% |
| Taxes, remuneration and social security | 45 | €12,233 | €9,675 | -€2,558 | -20.9% |
| Taxes | 450/3 | €3,981 | €4,358 | +€378 | +9.5% |
| Remuneration and social security | 454/9 | €8,252 | €5,316 | -€2,936 | -35.6% |
| Other amounts payable | 47/48 | €52,964 | €27,794 | -€25,170 | -47.5% |
| Accrued charges and deferred income | 492/3 | €1,245 | €1,184 | -€61 | -4.9% |
| Remuneration, social security and pensions | 62 | €122,751 | €59,892 | -€62,859 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,939 | €39,562 | +€4,624 | +13.2% |
| Other operating charges | 640/8 | €3,320 | €3,724 | +€404 | +12.2% |
| Gross operating margin | 9900 | €182,300 | €130,831 | -€51,469 | -28.2% |
| Operating profit (loss) | 9901 | €21,290 | €27,652 | +€6,361 | +29.9% |
| Financial income | 75/76B | €3 | €8 | +€5 | +146% |
| Recurring financial income | 75 | €3 | €8 | +€5 | +146% |
| Financial charges | 65/66B | €22,441 | €24,322 | +€1,882 | +8.4% |
| Recurring financial charges | 65 | €22,441 | €24,322 | +€1,882 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,147 | €3,337 | +€4,484 | |
| Income taxes | 67/77 | €6,767 | €1,970 | -€4,798 | -70.9% |
| Profit (loss) for the period | 9904 | -€7,915 | €1,368 | +€9,282 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,915 | €1,368 | +€9,282 |
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 24 October 2026 via checked.be.