ASON: 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
ASON
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,621
2024 · -€14,956+€24,576
Equity
€1.0m
2024 · €1.0m+€9,621
Cash
€20,242
2024 · €15,646+€4,597
Balance sheet total
€1.6m
2024 · €1.7m-€89,081
Largest movements
Assets
- Tangible fixed assets -€99,073
down €99,073 (-6.0%), from €1.7m to €1.6m
Equity and liabilities
- Other debts -€58,227
down €58,227 (-35.4%), from €164,435 to €106,209
- Debts after one year -€26,667
down €26,667 (-7.7%), from €346,667 to €320,000
Income statement
- Gross operating margin +€32,051
up €32,051 (+25.5%), from €125,667 to €157,718
- Taxes +€5,836
up €5,836 (+157%), from €3,724 to €9,561
- Financial charges -€3,159
down €3,159 (-17.3%), from €18,285 to €15,125
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.
Result 2024
-€14,956
Gross operating margin
+€32,051
Depreciation
+€720
Other operating charges
-€227
Financial income
-€640
Financial charges
+€3,159
Taxes
-€5,836
Deferred taxes and other
-€4,651
Result 2025
€9,621
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€48,376
Investment
-€17,113
Financing
-€26,667
Cash 2024
€15,646
From operations (derived)
+€48,376
Net result for the year
+€9,621
Depreciation
+€116,186
Receivables within one year
-€3,846
Deferred charges and accrued income
-€1,550
Provisions
-€3,643
Trade debts
-€8,896
Tax, wage and social debts
-€497
Other debts
-€58,227
Accrued charges and deferred income
-€772
Investment (derived)
-€17,113
Investment in fixed assets (net)
-€17,113
Financing
-€26,667
Debts after one year
-€26,667
Cash 2025
€20,242
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,184 | €1,610,103 | -€89,081 | -5.2% |
| Fixed assets | 21/28 | €1,660,905 | €1,561,832 | -€99,073 | -6.0% |
| Tangible fixed assets | 22/27 | €1,660,905 | €1,561,832 | -€99,073 | -6.0% |
| Land and buildings | 22 | €1,005,758 | €968,585 | -€37,173 | -3.7% |
| Plant, machinery and equipment | 23 | €5,458 | €3,548 | -€1,911 | -35.0% |
| Furniture and vehicles | 24 | €89,478 | €54,510 | -€34,968 | -39.1% |
| Other tangible fixed assets | 26 | €560,211 | €535,189 | -€25,022 | -4.5% |
| Current assets | 29/58 | €38,279 | €48,271 | +€9,992 | +26.1% |
| Amounts receivable within one year | 40/41 | €20,757 | €24,603 | +€3,846 | +18.5% |
| Trade receivables | 40 | €18,271 | €8,884 | -€9,387 | -51.4% |
| Other amounts receivable | 41 | €2,486 | €15,719 | +€13,233 | +532% |
| Cash at bank and in hand | 54/58 | €15,646 | €20,242 | +€4,597 | +29.4% |
| Deferred charges and accrued income | 490/1 | €1,876 | €3,426 | +€1,550 | +82.6% |
| Total equity and liabilities | 10/49 | €1,699,184 | €1,610,103 | -€89,081 | -5.2% |
| Equity | 10/15 | €1,007,505 | €1,017,126 | +€9,621 | +1.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €857,505 | €867,126 | +€9,621 | +1.1% |
| Tax-exempt reserves | 132 | €396,502 | €388,382 | -€8,120 | -2.0% |
| Distributable reserves | 133 | €461,003 | €478,743 | +€17,741 | +3.8% |
| Provisions and deferred taxes | 16 | €133,069 | €129,427 | -€3,643 | -2.7% |
| Deferred taxes | 168 | €133,069 | €129,427 | -€3,643 | -2.7% |
| Amounts payable | 17/49 | €558,610 | €463,551 | -€95,059 | -17.0% |
| Amounts payable after more than one year | 17 | €346,667 | €320,000 | -€26,667 | -7.7% |
| Financial debts | 170/4 | €346,667 | €320,000 | -€26,667 | -7.7% |
| Amounts payable within one year | 42/48 | €210,625 | €143,005 | -€67,620 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €26,667 | €26,667 | = | 0.0% |
| Trade debts | 44 | €13,294 | €4,397 | -€8,896 | -66.9% |
| Suppliers | 440/4 | €13,294 | €4,397 | -€8,896 | -66.9% |
| Taxes, remuneration and social security | 45 | €6,230 | €5,733 | -€497 | -8.0% |
| Taxes | 450/3 | €2,301 | €1,916 | -€385 | -16.7% |
| Remuneration and social security | 454/9 | €3,929 | €3,817 | -€112 | -2.9% |
| Other amounts payable | 47/48 | €164,435 | €106,209 | -€58,227 | -35.4% |
| Accrued charges and deferred income | 492/3 | €1,318 | €545 | -€772 | -58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,906 | €116,186 | -€720 | -0.6% |
| Other operating charges | 640/8 | €10,640 | €10,868 | +€227 | +2.1% |
| Gross operating margin | 9900 | €125,667 | €157,718 | +€32,051 | +25.5% |
| Operating profit (loss) | 9901 | -€1,880 | €30,664 | +€32,544 | |
| Financial income | 75/76B | €640 | - | -€640 | |
| Recurring financial income | 75 | €640 | - | -€640 | |
| Financial charges | 65/66B | €18,285 | €15,125 | -€3,159 | -17.3% |
| Recurring financial charges | 65 | €18,285 | €15,125 | -€3,159 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,525 | €15,539 | +€35,064 | |
| Transfer from deferred taxes | 780 | €8,293 | €3,643 | -€4,651 | -56.1% |
| Income taxes | 67/77 | €3,724 | €9,561 | +€5,836 | +157% |
| Profit (loss) for the period | 9904 | -€14,956 | €9,621 | +€24,576 | |
| Transfer from tax-exempt reserves | 789 | €22,073 | €8,120 | -€13,953 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,117 | €17,741 | +€10,624 | +149% |
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.