ASMODEE BELGIUM: 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.
What changed
ASMODEE BELGIUM
NACE 46.496, Wholesale trade
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€18.0m
2025 · €10.6m+€7.4m
Equity
€4.9m
2025 · €4.9m+€284
Cash
€6.3m
2025 · €4.8m+€1.4m
Balance sheet total
€34.5m
2025 · €24.4m+€10.1m
Largest movements
Assets
- Receivables within one year +€8.6m
up €8.6m (+58.8%), from €14.7m to €23.3m
of which Other amounts receivable: +€7.0m
- Cash +€1.4m
up €1.4m (+29.6%), from €4.8m to €6.3m
mainly Net result for the year (+€18.0m) and Other debts (+€8.0m)
Equity and liabilities
- Other debts +€8.0m
up €8.0m (+79.6%), from €10.0m to €18.0m
- Trade debts +€1.1m
up €1.1m (+13.9%), from €7.8m to €8.9m
- Tax, wage and social debts +€1.1m
up €1.1m (+61.8%), from €1.7m to €2.8m
of which Taxes: +€974,357
Income statement
- Turnover +€24.6m
up €24.6m (+43.2%), from €57.0m to €81.6m
- Goods and materials +€13.1m
up €13.1m (+35.4%), from €37.0m to €50.1m
of which Purchases: +€13.7m
- Taxes +€2.5m
up €2.5m (+69.1%), from €3.6m to €6.1m
of which Taxes: +€2.5m
- Services and other goods +€815,951
up €815,951 (+19.4%), from €4.2m to €5.0m
From the 2025 result to the 2026 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.
Result 2025
€10.6m
Turnover
+€24.6m
Other operating income
+€202,354
Goods and materials
-€13.1m
Services and other goods
-€815,951
Staff costs
-€265,570
Depreciation
+€10,466
Write-downs
-€529,170
Other operating charges
-€30,159
Other operating items
-€36,910
Financial income
-€184,565
Financial charges
+€1,297
Taxes
-€2.5m
Result 2026
€18.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€19.4m
Investment
-€44,211
Financing
-€18.0m
Cash 2025
€4.8m
From operations (derived)
+€19.4m
Net result for the year
+€18.0m
Depreciation
+€22,576
Stocks and contracts
-€65,983
Receivables within one year
-€8.6m
Smaller working-capital items
+€11,449
Trade debts
+€1.1m
Tax, wage and social debts
+€1.1m
Other debts
+€8.0m
Investment (derived)
-€44,211
Investment in fixed assets (net)
-€44,211
Financing
-€18.0m
Contributions, distributions and other
-€18.0m
Cash 2026
€6.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,414,547 | €34,542,924 | +€10.1m | +41.5% |
| Fixed assets | 21/28 | €46,848 | €68,483 | +€21,635 | +46.2% |
| Intangible fixed assets | 21 | €5,920 | €2,820 | -€3,100 | -52.4% |
| Tangible fixed assets | 22/27 | €40,606 | €65,341 | +€24,735 | +60.9% |
| Furniture and vehicles | 24 | €23,150 | €33,679 | +€10,529 | +45.5% |
| Other tangible fixed assets | 26 | €17,456 | €31,663 | +€14,206 | +81.4% |
| Financial fixed assets | 28 | €321 | €321 | = | 0.0% |
| Other financial fixed assets | 284/8 | €321 | €321 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €321 | €321 | = | 0.0% |
| Current assets | 29/58 | €24,367,699 | €34,474,441 | +€10.1m | +41.5% |
| Stocks and contracts in progress | 3 | €4,820,165 | €4,886,148 | +€65,983 | +1.4% |
| Stocks | 30/36 | €4,820,165 | €4,886,148 | +€65,983 | +1.4% |
| Goods purchased for resale | 34 | €4,820,165 | €4,886,148 | +€65,983 | +1.4% |
| Amounts receivable within one year | 40/41 | €14,656,403 | €23,271,912 | +€8.6m | +58.8% |
| Trade receivables | 40 | €4,593,650 | €6,178,567 | +€1.6m | +34.5% |
| Other amounts receivable | 41 | €10,062,753 | €17,093,345 | +€7.0m | +69.9% |
| Cash at bank and in hand | 54/58 | €4,848,586 | €6,283,432 | +€1.4m | +29.6% |
| Deferred charges and accrued income | 490/1 | €42,545 | €32,949 | -€9,596 | -22.6% |
| Total equity and liabilities | 10/49 | €24,414,547 | €34,542,924 | +€10.1m | +41.5% |
| Equity | 10/15 | €4,856,464 | €4,856,747 | +€284 | 0.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €3,606,250 | €3,606,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €3,600,000 | €3,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,187,714 | €1,187,997 | +€284 | 0.0% |
| Amounts payable | 17/49 | €19,558,083 | €29,686,177 | +€10.1m | +51.8% |
| Amounts payable within one year | 42/48 | €19,558,083 | €29,684,324 | +€10.1m | +51.8% |
| Trade debts | 44 | €7,815,537 | €8,904,743 | +€1.1m | +13.9% |
| Suppliers | 440/4 | €7,815,537 | €8,904,743 | +€1.1m | +13.9% |
| Taxes, remuneration and social security | 45 | €1,742,546 | €2,819,582 | +€1.1m | +61.8% |
| Taxes | 450/3 | €1,348,765 | €2,323,122 | +€974,357 | +72.2% |
| Remuneration and social security | 454/9 | €393,781 | €496,459 | +€102,678 | +26.1% |
| Other amounts payable | 47/48 | €10,000,000 | €17,960,000 | +€8.0m | +79.6% |
| Accrued charges and deferred income | 492/3 | - | €1,853 | +€1,853 | |
| Operating income | 70/76A | €57,110,019 | €81,913,196 | +€24.8m | +43.4% |
| Turnover | 70 | €56,970,589 | €81,571,412 | +€24.6m | +43.2% |
| Other operating income | 74 | €139,430 | €341,784 | +€202,354 | +145% |
| Operating charges | 60/66A | €43,161,757 | €57,929,806 | +€14.8m | +34.2% |
| Goods for resale, raw materials and consumables | 60 | €37,034,554 | €50,135,309 | +€13.1m | +35.4% |
| Purchases | 600/8 | €36,551,487 | €50,283,460 | +€13.7m | +37.6% |
| Change in stocks: decrease (increase) | 609 | €483,067 | -€148,151 | -€631,218 | |
| Services and other goods | 61 | €4,205,804 | €5,021,755 | +€815,951 | +19.4% |
| Remuneration, social security and pensions | 62 | €2,151,573 | €2,417,142 | +€265,570 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,042 | €22,576 | -€10,466 | -31.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€281,676 | €247,494 | +€529,170 | |
| Other operating charges | 640/8 | €5,370 | €35,529 | +€30,159 | +562% |
| Non-recurring operating charges | 66A | €13,090 | €50,000 | +€36,910 | +282% |
| Operating profit (loss) | 9901 | €13,948,262 | €23,983,390 | +€10.0m | +71.9% |
| Financial income | 75/76B | €410,403 | €225,839 | -€184,565 | -45.0% |
| Recurring financial income | 75 | €410,403 | €225,839 | -€184,565 | -45.0% |
| Income from current assets | 751 | €410,238 | €222,416 | -€187,822 | -45.8% |
| Other financial income | 752/9 | €165 | €3,423 | +€3,257 | +1,968% |
| Financial charges | 65/66B | €180,591 | €179,294 | -€1,297 | -0.7% |
| Recurring financial charges | 65 | €180,591 | €179,294 | -€1,297 | -0.7% |
| Debt charges | 650 | €20,256 | €24,804 | +€4,547 | +22.4% |
| Other financial charges | 652/9 | €160,335 | €154,490 | -€5,844 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €14,178,075 | €24,029,935 | +€9.9m | +69.5% |
| Income taxes | 67/77 | €3,590,387 | €6,069,651 | +€2.5m | +69.1% |
| Taxes | 670/3 | €3,590,387 | €6,070,000 | +€2.5m | +69.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €349 | +€349 | |
| Profit (loss) for the period | 9904 | €10,587,688 | €17,960,284 | +€7.4m | +69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,587,688 | €17,960,284 | +€7.4m | +69.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.