ASI: 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.
ASI
Largest movements
- Cash +€352,759
up €352,759 (+476%), from €74,076 to €426,836
mainly Current investments (+€300,000) and Net result for the year (+€67,381)
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Tangible fixed assets +€10,209
up €10,209 (+28.7%), from €35,511 to €45,720
- Receivables within one year -€8,955
down €8,955 (-13.9%), from €64,453 to €55,498
of which Trade receivables: -€5,405
- Receivables after one year -€6,600
down €6,600 (-18.3%), from €36,100 to €29,500
- Reserves +€46,380
up €46,380 (+12.2%), from €381,070 to €427,450
- Trade debts -€15,387
down €15,387 (-32.7%), from €47,114 to €31,727
- Other debts +€10,964
up €10,964 (+153%), from €7,152 to €18,115
- Gross operating margin +€41,673
up €41,673 (+49.4%), from €84,331 to €126,003
- Taxes +€9,194
up €9,194 (+40.9%), from €22,506 to €31,700
- Financial income -€5,629
down €5,629 (-52.2%), from €10,789 to €5,160
- Staff costs +€2,470
up €2,470 (+15.8%), from €15,595 to €18,066
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 | €513,913 | €560,194 | +€46,281 | +9.0% |
| Fixed assets | 21/28 | €35,511 | €45,720 | +€10,209 | +28.7% |
| Tangible fixed assets | 22/27 | €35,511 | €45,720 | +€10,209 | +28.7% |
| Furniture and vehicles | 24 | €35,511 | €45,720 | +€10,209 | +28.7% |
| Current assets | 29/58 | €478,403 | €514,475 | +€36,072 | +7.5% |
| Amounts receivable after more than one year | 29 | €36,100 | €29,500 | -€6,600 | -18.3% |
| Other amounts receivable | 291 | €36,100 | €29,500 | -€6,600 | -18.3% |
| Stocks and contracts in progress | 3 | €2,309 | €1,645 | -€664 | -28.7% |
| Stocks | 30/36 | €2,309 | €1,645 | -€664 | -28.7% |
| Amounts receivable within one year | 40/41 | €64,453 | €55,498 | -€8,955 | -13.9% |
| Trade receivables | 40 | €54,303 | €48,898 | -€5,405 | -10.0% |
| Other amounts receivable | 41 | €10,150 | €6,600 | -€3,550 | -35.0% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €74,076 | €426,836 | +€352,759 | +476% |
| Deferred charges and accrued income | 490/1 | €1,465 | €996 | -€468 | -32.0% |
| Total equity and liabilities | 10/49 | €513,913 | €560,194 | +€46,281 | +9.0% |
| Equity | 10/15 | €443,955 | €490,336 | +€46,381 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €381,070 | €427,450 | +€46,380 | +12.2% |
| Distributable reserves | 133 | €381,070 | €427,450 | +€46,380 | +12.2% |
| Profit (loss) carried forward | 14 | €44,285 | €44,286 | +€1 | 0.0% |
| Amounts payable | 17/49 | €69,958 | €69,859 | -€100 | -0.1% |
| Amounts payable within one year | 42/48 | €69,958 | €69,859 | -€100 | -0.1% |
| Trade debts | 44 | €47,114 | €31,727 | -€15,387 | -32.7% |
| Suppliers | 440/4 | €47,114 | €31,727 | -€15,387 | -32.7% |
| Taxes, remuneration and social security | 45 | €15,693 | €20,017 | +€4,324 | +27.6% |
| Taxes | 450/3 | €11,346 | €20,017 | +€8,670 | +76.4% |
| Remuneration and social security | 454/9 | €4,346 | - | -€4,346 | |
| Other amounts payable | 47/48 | €7,152 | €18,115 | +€10,964 | +153% |
| Remuneration, social security and pensions | 62 | €15,595 | €18,066 | +€2,470 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,408 | €12,786 | +€378 | +3.0% |
| Other operating charges | 640/8 | €1,353 | €782 | -€571 | -42.2% |
| Gross operating margin | 9900 | €84,331 | €126,003 | +€41,673 | +49.4% |
| Operating profit (loss) | 9901 | €54,975 | €94,370 | +€39,395 | +71.7% |
| Financial income | 75/76B | €10,789 | €5,160 | -€5,629 | -52.2% |
| Recurring financial income | 75 | €10,789 | €5,160 | -€5,629 | -52.2% |
| Financial charges | 65/66B | €534 | €449 | -€85 | -15.9% |
| Recurring financial charges | 65 | €534 | €449 | -€85 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €65,229 | €99,080 | +€33,852 | +51.9% |
| Income taxes | 67/77 | €22,506 | €31,700 | +€9,194 | +40.9% |
| Profit (loss) for the period | 9904 | €42,723 | €67,381 | +€24,658 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,723 | €67,381 | +€24,658 | +57.7% |
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 19 October 2026 via checked.be.