ASPEC: 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.
ASPEC
Largest movements
- Current investments +€960,626
up €960,626 (+437264.4%), from €220 to €960,846
- Tangible fixed assets -€381,612
down €381,612 (-100.0%), from €381,612 to €0
of which Land and buildings: -€288,066
- Receivables within one year -€250,070
down €250,070 (-89.5%), from €279,342 to €29,272
of which Trade receivables: -€262,871
- Other debts +€400,568
up €400,568 (+82.0%), from €488,208 to €888,776
- Reserves -€60,104
down €60,104 (-100.0%), from €60,104 to €0
- Gross operating margin -€344,458
down €344,458 (-37.2%), from €925,929 to €581,471
- Staff costs -€141,684
down €141,684 (-100.0%), from €141,684 to €0
- Depreciation -€94,471
down €94,471 (-93.9%), from €100,630 to €6,159
- Taxes -€48,283
down €48,283 (-29.1%), from €166,170 to €117,886
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 | €682,030 | €1,017,874 | +€335,844 | +49.2% |
| Fixed assets | 21/28 | €381,612 | €0 | -€381,612 | -100.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €381,612 | €0 | -€381,612 | -100.0% |
| Land and buildings | 22 | €288,066 | €0 | -€288,066 | -100.0% |
| Plant, machinery and equipment | 23 | €93,460 | €0 | -€93,460 | -100.0% |
| Furniture and vehicles | 24 | €86 | €0 | -€86 | -100.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €300,418 | €1,017,874 | +€717,456 | +238.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €279,342 | €29,272 | -€250,070 | -89.5% |
| Trade receivables | 40 | €277,671 | €14,801 | -€262,871 | -94.7% |
| Other amounts receivable | 41 | €1,671 | €14,471 | +€12,800 | +766.1% |
| Current investments | 50/53 | €220 | €960,846 | +€960,626 | +437264.4% |
| Cash at bank and in hand | 54/58 | €18,514 | €25,643 | +€7,130 | +38.5% |
| Deferred charges and accrued income | 490/1 | €2,343 | €2,113 | -€230 | -9.8% |
| Total equity and liabilities | 10/49 | €682,030 | €1,017,874 | +€335,844 | +49.2% |
| Equity | 10/15 | €160,104 | €100,000 | -€60,104 | -37.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €60,104 | €0 | -€60,104 | -100.0% |
| Distributable reserves | 133 | €60,104 | €0 | -€60,104 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €521,926 | €917,874 | +€395,948 | +75.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €521,926 | €913,832 | +€391,906 | +75.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,500 | €3,671 | -€4,829 | -56.8% |
| Suppliers | 440/4 | €8,500 | €3,671 | -€4,829 | -56.8% |
| Taxes, remuneration and social security | 45 | €25,218 | €21,384 | -€3,834 | -15.2% |
| Taxes | 450/3 | €16,170 | €21,384 | +€5,215 | +32.3% |
| Remuneration and social security | 454/9 | €9,048 | €0 | -€9,048 | -100.0% |
| Other amounts payable | 47/48 | €488,208 | €888,776 | +€400,568 | +82.0% |
| Accrued charges and deferred income | 492/3 | - | €4,042 | +€4,042 | |
| Remuneration, social security and pensions | 62 | €141,684 | €0 | -€141,684 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,630 | €6,159 | -€94,471 | -93.9% |
| Other operating charges | 640/8 | €21,210 | €30,187 | +€8,976 | +42.3% |
| Non-recurring operating charges | 66A | €746 | €71,802 | +€71,056 | +9527.5% |
| Gross operating margin | 9900 | €925,929 | €581,471 | -€344,458 | -37.2% |
| Operating profit (loss) | 9901 | €661,659 | €473,324 | -€188,336 | -28.5% |
| Financial income | 75/76B | €4,477 | €906 | -€3,572 | -79.8% |
| Recurring financial income | 75 | €4,477 | €906 | -€3,572 | -79.8% |
| Financial charges | 65/66B | €6,957 | €8,140 | +€1,183 | +17.0% |
| Recurring financial charges | 65 | €6,957 | €8,140 | +€1,183 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €659,180 | €466,089 | -€193,091 | -29.3% |
| Income taxes | 67/77 | €166,170 | €117,886 | -€48,283 | -29.1% |
| Profit (loss) for the period | 9904 | €493,010 | €348,203 | -€144,807 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €493,010 | €348,203 | -€144,807 | -29.4% |
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 8 October 2026 via checked.be.