ASPADA: what changed
Two fiscal 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.
ASPADA
Largest movements
- Receivables within one year -€132,850
down €132,850 (-37.8%), from €351,380 to €218,530
of which Other amounts receivable: -€217,485
- Tangible fixed assets +€57,330
up €57,330 (+53.1%), from €108,028 to €165,357
of which Other tangible fixed assets: +€34,895
- Stocks and contracts +€8,125
new in 2025: €8,125
- Cash -€7,665
down €7,665 (-80.8%), from €9,492 to €1,827
mainly Investment in fixed assets (net) (-€97,041) and Trade debts (-€41,643)
- Deferred charges and accrued income +€5,797
new in 2025: €5,797
- Trade debts -€41,643
down €41,643 (-26.2%), from €159,075 to €117,432
- Profit (loss) carried forward -€20,257
down €20,257 (-8.3%), from €245,349 to €225,093
- Current portion of long-term debt -€10,196
down €10,196 (-67.4%), from €15,139 to €4,943
- Turnover -€541,012
no longer reported in 2025 (was €541,012)
- Purchases and services -€445,220
no longer reported in 2025 (was €445,220)
- Depreciation +€14,272
up €14,272 (+53.8%), from €26,509 to €40,781
- Staff costs -€12,407
down €12,407 (-13.2%), from €94,261 to €81,854
- Financial charges +€7,088
up €7,088 (+53.8%), from €13,164 to €20,252
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.
Cash bridge derived
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 | €484,843 | €414,511 | -€70,333 | -14.5% |
| Fixed assets | 21/28 | €123,971 | €180,231 | +€56,260 | +45.4% |
| Intangible fixed assets | 21 | €15,000 | €12,000 | -€3,000 | -20.0% |
| Tangible fixed assets | 22/27 | €108,028 | €165,357 | +€57,330 | +53.1% |
| Plant, machinery and equipment | 23 | €5,288 | €22,604 | +€17,316 | +327.4% |
| Furniture and vehicles | 24 | €24,722 | €29,840 | +€5,119 | +20.7% |
| Other tangible fixed assets | 26 | €78,018 | €112,913 | +€34,895 | +44.7% |
| Financial fixed assets | 28 | €944 | €2,874 | +€1,930 | +204.5% |
| Current assets | 29/58 | €360,872 | €234,280 | -€126,592 | -35.1% |
| Stocks and contracts in progress | 3 | - | €8,125 | +€8,125 | |
| Stocks | 30/36 | - | €8,125 | +€8,125 | |
| Amounts receivable within one year | 40/41 | €351,380 | €218,530 | -€132,850 | -37.8% |
| Trade receivables | 40 | €669 | €85,304 | +€84,635 | +12654.6% |
| Other amounts receivable | 41 | €350,712 | €133,226 | -€217,485 | -62.0% |
| Cash at bank and in hand | 54/58 | €9,492 | €1,827 | -€7,665 | -80.8% |
| Deferred charges and accrued income | 490/1 | - | €5,797 | +€5,797 | |
| Total equity and liabilities | 10/49 | €484,843 | €414,511 | -€70,333 | -14.5% |
| Equity | 10/15 | €308,363 | €288,106 | -€20,257 | -6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,413 | €44,413 | = | 0.0% |
| Non-distributable reserves | 130/1 | €44,413 | €44,413 | = | 0.0% |
| Legal reserve | 130 | €44,413 | €44,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,349 | €225,093 | -€20,257 | -8.3% |
| Amounts payable | 17/49 | €176,481 | €126,405 | -€50,076 | -28.4% |
| Amounts payable within one year | 42/48 | €176,481 | €126,405 | -€50,076 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €15,139 | €4,943 | -€10,196 | -67.4% |
| Financial debts | 43 | - | €3,905 | +€3,905 | |
| Credit institutions | 430/8 | - | €3,905 | +€3,905 | |
| Trade debts | 44 | €159,075 | €117,432 | -€41,643 | -26.2% |
| Suppliers | 440/4 | €159,075 | €117,432 | -€41,643 | -26.2% |
| Advances received on contracts in progress | 46 | €125 | €125 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,142 | - | -€2,142 | |
| Remuneration and social security | 454/9 | €2,142 | - | -€2,142 | |
| Turnover | 70 | €541,012 | - | -€541,012 | |
| Goods, raw materials, services and sundry goods | 60/61 | €445,220 | - | -€445,220 | |
| Remuneration, social security and pensions | 62 | €94,261 | €81,854 | -€12,407 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,509 | €40,781 | +€14,272 | +53.8% |
| Other operating charges | 640/8 | €9,359 | €12,022 | +€2,663 | +28.4% |
| Gross operating margin | 9900 | €159,281 | €155,111 | -€4,170 | -2.6% |
| Operating profit (loss) | 9901 | €29,152 | €20,453 | -€8,698 | -29.8% |
| Financial income | 75/76B | €3 | €4 | +€1 | +19.3% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +19.3% |
| Financial charges | 65/66B | €13,164 | €20,252 | +€7,088 | +53.8% |
| Recurring financial charges | 65 | €13,164 | €20,252 | +€7,088 | +53.8% |
| Profit (loss) for the period before taxes | 9903 | €15,991 | €206 | -€15,785 | -98.7% |
| Income taxes | 67/77 | €14,460 | €20,462 | +€6,002 | +41.5% |
| Profit (loss) for the period | 9904 | €1,531 | -€20,257 | -€21,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,531 | -€20,257 | -€21,787 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.