ASM Projects: 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.
ASM Projects
Largest movements
- Cash +€50,545
up €50,545 (+437%), from €11,554 to €62,099
mainly Net result for the year (+€65,233) and Depreciation (+€23,058)
- Receivables within one year +€18,020
up €18,020 (+555%), from €3,248 to €21,268
of which Trade receivables: +€18,000
- Tangible fixed assets -€6,301
down €6,301 (-6.6%), from €96,172 to €89,871
of which Furniture and vehicles: -€22,794
- Reserves +€65,233
up €65,233 (+86.9%), from €75,064 to €140,297
- Other debts -€6,086
down €6,086 (-98.5%), from €6,177 to €91
- Tax, wage and social debts +€3,122
up €3,122 (+12.3%), from €25,455 to €28,576
of which Taxes: +€3,122
- Gross operating margin -€5,291
down €5,291 (-4.7%), from €112,197 to €106,906
- Depreciation +€5,260
up €5,260 (+29.6%), from €17,798 to €23,058
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 | €112,063 | €174,009 | +€61,947 | +55.3% |
| Fixed assets | 21/28 | €96,172 | €89,871 | -€6,301 | -6.6% |
| Tangible fixed assets | 22/27 | €96,172 | €89,871 | -€6,301 | -6.6% |
| Plant, machinery and equipment | 23 | - | €16,493 | +€16,493 | |
| Furniture and vehicles | 24 | €96,172 | €73,378 | -€22,794 | -23.7% |
| Current assets | 29/58 | €15,891 | €84,138 | +€68,247 | +429% |
| Amounts receivable within one year | 40/41 | €3,248 | €21,268 | +€18,020 | +555% |
| Trade receivables | 40 | - | €18,000 | +€18,000 | |
| Other amounts receivable | 41 | €3,248 | €3,268 | +€20 | +0.6% |
| Cash at bank and in hand | 54/58 | €11,554 | €62,099 | +€50,545 | +437% |
| Deferred charges and accrued income | 490/1 | €1,089 | €772 | -€317 | -29.1% |
| Total equity and liabilities | 10/49 | €112,063 | €174,009 | +€61,947 | +55.3% |
| Equity | 10/15 | €80,064 | €145,297 | +€65,233 | +81.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €75,064 | €140,297 | +€65,233 | +86.9% |
| Distributable reserves | 133 | €75,064 | €140,297 | +€65,233 | +86.9% |
| Amounts payable | 17/49 | €31,999 | €28,712 | -€3,287 | -10.3% |
| Amounts payable within one year | 42/48 | €31,999 | €28,712 | -€3,287 | -10.3% |
| Trade debts | 44 | €368 | €45 | -€323 | -87.8% |
| Suppliers | 440/4 | €368 | €45 | -€323 | -87.8% |
| Taxes, remuneration and social security | 45 | €25,455 | €28,576 | +€3,122 | +12.3% |
| Taxes | 450/3 | €22,270 | €25,391 | +€3,122 | +14.0% |
| Remuneration and social security | 454/9 | €3,185 | €3,185 | = | 0.0% |
| Other amounts payable | 47/48 | €6,177 | €91 | -€6,086 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,798 | €23,058 | +€5,260 | +29.6% |
| Other operating charges | 640/8 | €50 | €220 | +€170 | +340% |
| Gross operating margin | 9900 | €112,197 | €106,906 | -€5,291 | -4.7% |
| Operating profit (loss) | 9901 | €94,349 | €83,628 | -€10,721 | -11.4% |
| Financial income | 75/76B | €76 | €157 | +€81 | +107% |
| Recurring financial income | 75 | €76 | €157 | +€81 | +107% |
| Financial charges | 65/66B | €91 | €160 | +€69 | +75.4% |
| Recurring financial charges | 65 | €91 | €160 | +€69 | +75.4% |
| Profit (loss) for the period before taxes | 9903 | €94,334 | €83,625 | -€10,709 | -11.4% |
| Income taxes | 67/77 | €19,270 | €18,391 | -€878 | -4.6% |
| Profit (loss) for the period | 9904 | €75,064 | €65,233 | -€9,831 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,064 | €65,233 | -€9,831 | -13.1% |
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 14 October 2026 via checked.be.