ASO VISION: 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.
ASO VISION
Largest movements
- Cash +€12,879
up €12,879 (+3,175%), from €406 to €13,284
mainly Net result for the year (+€24,462) and Other debts (+€7,981)
- Receivables within one year +€11,728
new in 2025: €11,728
- Stocks and contracts -€7,307
down €7,307 (-13.9%), from €52,476 to €45,169
- Tangible fixed assets -€6,027
down €6,027 (-4.4%), from €136,431 to €130,403
of which Plant, machinery and equipment: -€5,855
- Profit (loss) carried forward +€24,462
up €24,462, from -€15,215 to €9,247
- Current portion of long-term debt -€13,582
down €13,582 (-8.3%), from €163,047 to €149,466
- Other debts +€7,981
up €7,981 (+77.0%), from €10,363 to €18,344
- Accrued charges and deferred income -€6,047
no longer reported in 2025 (was €6,047)
- Gross operating margin -€19,764
down €19,764 (-31.7%), from €62,322 to €42,558
- Depreciation -€18,395
down €18,395 (-75.3%), from €24,422 to €6,027
- Financial charges -€16,620
down €16,620, from €5,114 to -€11,505
- Other operating charges -€5,898
down €5,898 (-85.8%), from €6,873 to €974
- Staff costs +€2,088
up €2,088 (+10.2%), from €20,512 to €22,599
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 | €190,666 | €200,585 | +€9,919 | +5.2% |
| Fixed assets | 21/28 | €136,431 | €130,403 | -€6,027 | -4.4% |
| Tangible fixed assets | 22/27 | €136,431 | €130,403 | -€6,027 | -4.4% |
| Plant, machinery and equipment | 23 | €136,112 | €130,257 | -€5,855 | -4.3% |
| Furniture and vehicles | 24 | €319 | €146 | -€172 | -54.1% |
| Current assets | 29/58 | €54,235 | €70,181 | +€15,946 | +29.4% |
| Stocks and contracts in progress | 3 | €52,476 | €45,169 | -€7,307 | -13.9% |
| Stocks | 30/36 | €52,476 | €45,169 | -€7,307 | -13.9% |
| Amounts receivable within one year | 40/41 | - | €11,728 | +€11,728 | |
| Trade receivables | 40 | - | €11,728 | +€11,728 | |
| Cash at bank and in hand | 54/58 | €406 | €13,284 | +€12,879 | +3,175% |
| Deferred charges and accrued income | 490/1 | €1,353 | - | -€1,353 | |
| Total equity and liabilities | 10/49 | €190,666 | €200,585 | +€9,919 | +5.2% |
| Equity | 10/15 | -€10,215 | €14,247 | +€24,462 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,215 | €9,247 | +€24,462 | |
| Amounts payable | 17/49 | €200,881 | €186,338 | -€14,543 | -7.2% |
| Amounts payable within one year | 42/48 | €194,834 | €186,338 | -€8,497 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €163,047 | €149,466 | -€13,582 | -8.3% |
| Trade debts | 44 | €12,144 | €10,418 | -€1,726 | -14.2% |
| Suppliers | 440/4 | €12,144 | €10,418 | -€1,726 | -14.2% |
| Taxes, remuneration and social security | 45 | €9,280 | €8,110 | -€1,169 | -12.6% |
| Taxes | 450/3 | €6,065 | €7,866 | +€1,801 | +29.7% |
| Remuneration and social security | 454/9 | €3,215 | €244 | -€2,971 | -92.4% |
| Other amounts payable | 47/48 | €10,363 | €18,344 | +€7,981 | +77.0% |
| Accrued charges and deferred income | 492/3 | €6,047 | - | -€6,047 | |
| Remuneration, social security and pensions | 62 | €20,512 | €22,599 | +€2,088 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,422 | €6,027 | -€18,395 | -75.3% |
| Other operating charges | 640/8 | €6,873 | €974 | -€5,898 | -85.8% |
| Gross operating margin | 9900 | €62,322 | €42,558 | -€19,764 | -31.7% |
| Operating profit (loss) | 9901 | €10,515 | €12,957 | +€2,442 | +23.2% |
| Financial charges | 65/66B | €5,114 | -€11,505 | -€16,620 | |
| Recurring financial charges | 65 | €5,114 | -€11,505 | -€16,620 | |
| Profit (loss) for the period before taxes | 9903 | €5,401 | €24,462 | +€19,062 | +353% |
| Profit (loss) for the period | 9904 | €5,401 | €24,462 | +€19,062 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €5,401 | €24,462 | +€19,062 | +353% |
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 22 October 2026 via checked.be.