ASPEL: 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.
ASPEL
Largest movements
- Receivables within one year -€7,363
down €7,363 (-88.0%), from €8,363 to €1,000
- Cash +€5,217
up €5,217 (+17.3%), from €30,183 to €35,400
mainly Receivables within one year (+€7,363) and Depreciation (+€5,013)
- Tangible fixed assets -€4,415
down €4,415 (-30.4%), from €14,527 to €10,112
of which Furniture and vehicles: -€3,659
- Other debts -€6,332
down €6,332 (-88.2%), from €7,175 to €843
- Tax, wage and social debts -€3,459
down €3,459 (-62.3%), from €5,548 to €2,090
- Reserves +€2,480
up €2,480 (+6.5%), from €38,325 to €40,805
of which Distributable reserves: +€2,480
- Trade debts +€750
new in 2025: €750
- Gross operating margin -€8,658
down €8,658 (-45.9%), from €18,855 to €10,197
- Taxes -€2,943
down €2,943 (-60.0%), from €4,908 to €1,966
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 | €54,048 | €47,487 | -€6,561 | -12.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €14,527 | €10,112 | -€4,415 | -30.4% |
| Tangible fixed assets | 22/27 | €14,527 | €10,112 | -€4,415 | -30.4% |
| Plant, machinery and equipment | 23 | €4,298 | €3,715 | -€584 | -13.6% |
| Furniture and vehicles | 24 | €9,473 | €5,814 | -€3,659 | -38.6% |
| Other tangible fixed assets | 26 | €756 | €583 | -€173 | -22.8% |
| Current assets | 29/58 | €39,522 | €37,376 | -€2,146 | -5.4% |
| Amounts receivable within one year | 40/41 | €8,363 | €1,000 | -€7,363 | -88.0% |
| Trade receivables | 40 | €8,363 | €1,000 | -€7,363 | -88.0% |
| Cash at bank and in hand | 54/58 | €30,183 | €35,400 | +€5,217 | +17.3% |
| Deferred charges and accrued income | 490/1 | €976 | €976 | = | 0.0% |
| Total equity and liabilities | 10/49 | €54,048 | €47,487 | -€6,561 | -12.1% |
| Equity | 10/15 | €41,325 | €43,805 | +€2,480 | +6.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,325 | €40,805 | +€2,480 | +6.5% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €38,025 | €40,505 | +€2,480 | +6.5% |
| Amounts payable | 17/49 | €12,723 | €3,683 | -€9,041 | -71.1% |
| Amounts payable within one year | 42/48 | €12,723 | €3,683 | -€9,041 | -71.1% |
| Trade debts | 44 | - | €750 | +€750 | |
| Suppliers | 440/4 | - | €750 | +€750 | |
| Taxes, remuneration and social security | 45 | €5,548 | €2,090 | -€3,459 | -62.3% |
| Taxes | 450/3 | €5,548 | €2,090 | -€3,459 | -62.3% |
| Other amounts payable | 47/48 | €7,175 | €843 | -€6,332 | -88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,132 | €5,013 | -€119 | -2.3% |
| Other operating charges | 640/8 | €632 | €648 | +€16 | +2.5% |
| Gross operating margin | 9900 | €18,855 | €10,197 | -€8,658 | -45.9% |
| Operating profit (loss) | 9901 | €13,090 | €4,535 | -€8,555 | -65.4% |
| Financial income | 75/76B | €180 | - | -€180 | |
| Recurring financial income | 75 | €180 | - | -€180 | |
| Financial charges | 65/66B | €156 | €90 | -€66 | -42.2% |
| Recurring financial charges | 65 | €156 | €90 | -€66 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €13,114 | €4,445 | -€8,669 | -66.1% |
| Income taxes | 67/77 | €4,908 | €1,966 | -€2,943 | -60.0% |
| Profit (loss) for the period | 9904 | €8,206 | €2,480 | -€5,726 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,206 | €2,480 | -€5,726 | -69.8% |
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 4 October 2026 via checked.be.