ASL: 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.
ASL
Largest movements
- Tangible fixed assets +€78,087
up €78,087 (+53.7%), from €145,296 to €223,383
of which Land and buildings: +€61,424
- Cash -€72,126
down €72,126 (-35.9%), from €201,154 to €129,028
mainly Investment in fixed assets (net) (-€135,377) and Other debts (-€102,992)
- Receivables within one year -€14,649
down €14,649 (-65.5%), from €22,363 to €7,714
of which Trade receivables: -€13,475
- Deferred charges and accrued income +€4,694
up €4,694 (+2,302%), from €204 to €4,898
- Other debts -€102,992
down €102,992 (-61.6%), from €167,242 to €64,250
- Reserves +€68,117
up €68,117 (+97.4%), from €69,949 to €138,066
of which Tax-exempt reserves: +€53,413
- Provisions +€33,737
new in 2025: €33,737
- Contributions +€8,592
up €8,592 (+46.2%), from €18,600 to €27,192
- Profit (loss) carried forward -€5,434
down €5,434 (-5.2%), from €104,792 to €99,358
- Depreciation +€24,823
up €24,823 (+76.5%), from €32,467 to €57,290
- Gross operating margin -€8,899
down €8,899 (-19.1%), from €46,502 to €37,603
- Taxes -€3,995
down €3,995, from €3,956 to -€39
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 | €369,017 | €365,022 | -€3,994 | -1.1% |
| Fixed assets | 21/28 | €145,296 | €223,383 | +€78,087 | +53.7% |
| Tangible fixed assets | 22/27 | €145,296 | €223,383 | +€78,087 | +53.7% |
| Land and buildings | 22 | €130,112 | €191,536 | +€61,424 | +47.2% |
| Plant, machinery and equipment | 23 | €2,955 | €2,575 | -€379 | -12.8% |
| Furniture and vehicles | 24 | €12,229 | €29,271 | +€17,042 | +139% |
| Current assets | 29/58 | €223,721 | €141,640 | -€82,081 | -36.7% |
| Amounts receivable within one year | 40/41 | €22,363 | €7,714 | -€14,649 | -65.5% |
| Trade receivables | 40 | €16,864 | €3,389 | -€13,475 | -79.9% |
| Other amounts receivable | 41 | €5,499 | €4,325 | -€1,175 | -21.4% |
| Cash at bank and in hand | 54/58 | €201,154 | €129,028 | -€72,126 | -35.9% |
| Deferred charges and accrued income | 490/1 | €204 | €4,898 | +€4,694 | +2,302% |
| Total equity and liabilities | 10/49 | €369,017 | €365,022 | -€3,994 | -1.1% |
| Equity | 10/15 | €193,341 | €264,616 | +€71,276 | +36.9% |
| Contributions | 10/11 | €18,600 | €27,192 | +€8,592 | +46.2% |
| Reserves | 13 | €69,949 | €138,066 | +€68,117 | +97.4% |
| Non-distributable reserves | 130/1 | €1,860 | €3,719 | +€1,859 | +100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €3,719 | +€1,859 | +100.0% |
| Tax-exempt reserves | 132 | - | €53,413 | +€53,413 | |
| Distributable reserves | 133 | €68,089 | €80,934 | +€12,845 | +18.9% |
| Profit (loss) carried forward | 14 | €104,792 | €99,358 | -€5,434 | -5.2% |
| Provisions and deferred taxes | 16 | - | €33,737 | +€33,737 | |
| Deferred taxes | 168 | - | €33,737 | +€33,737 | |
| Amounts payable | 17/49 | €175,676 | €66,669 | -€109,007 | -62.1% |
| Amounts payable within one year | 42/48 | €171,198 | €65,559 | -€105,639 | -61.7% |
| Trade debts | 44 | - | €1,309 | +€1,309 | |
| Suppliers | 440/4 | - | €1,309 | +€1,309 | |
| Taxes, remuneration and social security | 45 | €3,956 | - | -€3,956 | |
| Remuneration and social security | 454/9 | €3,956 | - | -€3,956 | |
| Other amounts payable | 47/48 | €167,242 | €64,250 | -€102,992 | -61.6% |
| Accrued charges and deferred income | 492/3 | €4,478 | €1,110 | -€3,368 | -75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,467 | €57,290 | +€24,823 | +76.5% |
| Other operating charges | 640/8 | €6,265 | €6,436 | +€172 | +2.7% |
| Gross operating margin | 9900 | €46,502 | €37,603 | -€8,899 | -19.1% |
| Operating profit (loss) | 9901 | €7,770 | -€26,124 | -€33,894 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €311 | €400 | +€89 | +28.6% |
| Recurring financial charges | 65 | €311 | €400 | +€89 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €7,459 | -€26,523 | -€33,982 | |
| Transfer from deferred taxes | 780 | - | €8,420 | +€8,420 | |
| Income taxes | 67/77 | €3,956 | -€39 | -€3,995 | |
| Profit (loss) for the period | 9904 | €3,503 | -€18,064 | -€21,567 | |
| Transfer from tax-exempt reserves | 789 | - | €12,630 | +€12,630 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,503 | -€5,434 | -€8,937 |
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 18 October 2026 via checked.be.