ASPEE: 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.
ASPEE
Largest movements
- Cash -€71,669
down €71,669 (-44.0%), from €162,836 to €91,167
mainly Net result for the year (-€55,413) and Debts after one year (-€13,998)
- Intangible fixed assets -€15,000
down €15,000 (-7.7%), from €194,995 to €179,995
- Tangible fixed assets -€5,927
down €5,927 (-3.4%), from €176,503 to €170,576
of which Land and buildings: -€6,300
- Profit (loss) carried forward -€45,384
down €45,384 (-41.2%), from €110,160 to €64,776
- Debts after one year -€13,998
down €13,998 (-6.6%), from €210,536 to €196,538
of which Financial debts: -€13,998
- Other debts -€10,109
down €10,109 (-45.1%), from €22,433 to €12,324
- Reserves -€10,029
down €10,029 (-7.9%), from €127,282 to €117,253
- Current portion of long-term debt -€9,339
down €9,339 (-40.0%), from €23,337 to €13,998
- Financial income -€131,583
down €131,583 (-99.6%), from €132,108 to €524
- Gross operating margin -€41,755
down €41,755, from €34,816 to -€6,940
- Depreciation +€5,333
up €5,333 (+19.2%), from €27,746 to €33,079
- Financial charges -€4,426
down €4,426 (-45.5%), from €9,727 to €5,301
- Other operating charges -€2,604
down €2,604 (-28.2%), from €9,234 to €6,630
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 | €537,617 | €444,595 | -€93,021 | -17.3% |
| Fixed assets | 21/28 | €371,735 | €350,808 | -€20,927 | -5.6% |
| Intangible fixed assets | 21 | €194,995 | €179,995 | -€15,000 | -7.7% |
| Tangible fixed assets | 22/27 | €176,503 | €170,576 | -€5,927 | -3.4% |
| Land and buildings | 22 | €124,046 | €117,746 | -€6,300 | -5.1% |
| Furniture and vehicles | 24 | €37,631 | €40,367 | +€2,736 | +7.3% |
| Other tangible fixed assets | 26 | €14,826 | €12,463 | -€2,363 | -15.9% |
| Financial fixed assets | 28 | €238 | €238 | = | 0.0% |
| Current assets | 29/58 | €165,881 | €93,787 | -€72,094 | -43.5% |
| Amounts receivable within one year | 40/41 | €593 | - | -€593 | |
| Other amounts receivable | 41 | €593 | - | -€593 | |
| Cash at bank and in hand | 54/58 | €162,836 | €91,167 | -€71,669 | -44.0% |
| Deferred charges and accrued income | 490/1 | €2,453 | €2,620 | +€167 | +6.8% |
| Total equity and liabilities | 10/49 | €537,617 | €444,595 | -€93,021 | -17.3% |
| Equity | 10/15 | €237,441 | €182,029 | -€55,413 | -23.3% |
| Reserves | 13 | €127,282 | €117,253 | -€10,029 | -7.9% |
| Tax-exempt reserves | 132 | €127,282 | €117,253 | -€10,029 | -7.9% |
| Profit (loss) carried forward | 14 | €110,160 | €64,776 | -€45,384 | -41.2% |
| Provisions and deferred taxes | 16 | €42,407 | €39,064 | -€3,343 | -7.9% |
| Deferred taxes | 168 | €42,407 | €39,064 | -€3,343 | -7.9% |
| Amounts payable | 17/49 | €257,768 | €223,502 | -€34,266 | -13.3% |
| Amounts payable after more than one year | 17 | €210,536 | €196,538 | -€13,998 | -6.6% |
| Financial debts | 170/4 | €208,136 | €194,138 | -€13,998 | -6.7% |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,232 | €26,964 | -€20,268 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €23,337 | €13,998 | -€9,339 | -40.0% |
| Trade debts | 44 | €1,334 | €515 | -€819 | -61.4% |
| Suppliers | 440/4 | €1,334 | €515 | -€819 | -61.4% |
| Taxes, remuneration and social security | 45 | €128 | €128 | = | 0.0% |
| Taxes | 450/3 | €128 | €128 | = | 0.0% |
| Other amounts payable | 47/48 | €22,433 | €12,324 | -€10,109 | -45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,746 | €33,079 | +€5,333 | +19.2% |
| Other operating charges | 640/8 | €9,234 | €6,630 | -€2,604 | -28.2% |
| Non-recurring operating charges | 66A | - | €7,330 | +€7,330 | |
| Gross operating margin | 9900 | €34,816 | -€6,940 | -€41,755 | |
| Operating profit (loss) | 9901 | -€2,165 | -€53,979 | -€51,814 | -2393.6% |
| Financial income | 75/76B | €132,108 | €524 | -€131,583 | -99.6% |
| Recurring financial income | 75 | €132,108 | €524 | -€131,583 | -99.6% |
| Financial charges | 65/66B | €9,727 | €5,301 | -€4,426 | -45.5% |
| Recurring financial charges | 65 | €9,727 | €5,301 | -€4,426 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €120,216 | -€58,756 | -€178,972 | |
| Transfer from deferred taxes | 780 | €3,343 | €3,343 | = | 0.0% |
| Income taxes | 67/77 | €114 | - | -€114 | |
| Profit (loss) for the period | 9904 | €123,445 | -€55,413 | -€178,858 | |
| Transfer from tax-exempt reserves | 789 | €10,029 | €10,029 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €133,474 | -€45,384 | -€178,858 |
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 5 October 2026 via checked.be.