ASPER: 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.
ASPER
Largest movements
- Receivables within one year -€517,759
down €517,759 (-69.9%), from €740,962 to €223,203
of which Trade receivables: -€507,433
- Cash +€92,772
up €92,772 (+30.9%), from €300,636 to €393,409
mainly Receivables within one year (+€517,759) and Depreciation (+€195,961)
- Other debts -€416,677
down €416,677 (-23.2%), from €1.8m to €1.4m
- Debts after one year -€101,667
down €101,667 (-6.8%), from €1.5m to €1.4m
- Trade debts +€63,753
up €63,753 (+33.0%), from €193,188 to €256,941
- Depreciation +€22,410
up €22,410 (+12.9%), from €173,550 to €195,961
- Gross operating margin -€15,356
down €15,356 (-5.1%), from €302,518 to €287,162
- Taxes -€13,012
no longer reported in 2025 (was €13,012)
- Financial charges -€3,325
down €3,325 (-6.2%), from €53,549 to €50,224
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 | €3,869,070 | €3,435,286 | -€433,784 | -11.2% |
| Formation expenses | 20 | €239,543 | €227,204 | -€12,340 | -5.2% |
| Fixed assets | 21/28 | €2,587,484 | €2,586,821 | -€663 | 0.0% |
| Tangible fixed assets | 22/27 | €2,587,108 | €2,586,445 | -€663 | 0.0% |
| Land and buildings | 22 | €2,419,811 | €2,456,393 | +€36,582 | +1.5% |
| Plant, machinery and equipment | 23 | €139,064 | €112,586 | -€26,478 | -19.0% |
| Furniture and vehicles | 24 | €28,232 | €17,466 | -€10,767 | -38.1% |
| Financial fixed assets | 28 | €376 | €376 | = | 0.0% |
| Current assets | 29/58 | €1,042,043 | €621,261 | -€420,782 | -40.4% |
| Amounts receivable within one year | 40/41 | €740,962 | €223,203 | -€517,759 | -69.9% |
| Trade receivables | 40 | €730,270 | €222,837 | -€507,433 | -69.5% |
| Other amounts receivable | 41 | €10,692 | €366 | -€10,326 | -96.6% |
| Cash at bank and in hand | 54/58 | €300,636 | €393,409 | +€92,772 | +30.9% |
| Deferred charges and accrued income | 490/1 | €445 | €4,650 | +€4,205 | +945.4% |
| Total equity and liabilities | 10/49 | €3,869,070 | €3,435,286 | -€433,784 | -11.2% |
| Equity | 10/15 | €276,613 | €292,298 | +€15,685 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €270,413 | €286,098 | +€15,685 | +5.8% |
| Distributable reserves | 133 | €270,413 | €286,098 | +€15,685 | +5.8% |
| Amounts payable | 17/49 | €3,592,457 | €3,142,988 | -€449,469 | -12.5% |
| Amounts payable after more than one year | 17 | €1,487,222 | €1,385,556 | -€101,667 | -6.8% |
| Financial debts | 170/4 | €1,487,222 | €1,385,556 | -€101,667 | -6.8% |
| Amounts payable within one year | 42/48 | €2,104,435 | €1,757,433 | -€347,002 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €101,667 | €101,667 | = | 0.0% |
| Trade debts | 44 | €193,188 | €256,941 | +€63,753 | +33.0% |
| Suppliers | 440/4 | €193,188 | €256,941 | +€63,753 | +33.0% |
| Taxes, remuneration and social security | 45 | €15,386 | €21,308 | +€5,922 | +38.5% |
| Taxes | 450/3 | €13,976 | €19,046 | +€5,070 | +36.3% |
| Remuneration and social security | 454/9 | €1,410 | €2,262 | +€852 | +60.4% |
| Other amounts payable | 47/48 | €1,794,194 | €1,377,517 | -€416,677 | -23.2% |
| Accrued charges and deferred income | 492/3 | €800 | - | -€800 | |
| Remuneration, social security and pensions | 62 | €16,561 | €15,183 | -€1,378 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,550 | €195,961 | +€22,410 | +12.9% |
| Other operating charges | 640/8 | €9,239 | €10,109 | +€871 | +9.4% |
| Gross operating margin | 9900 | €302,518 | €287,162 | -€15,356 | -5.1% |
| Operating profit (loss) | 9901 | €103,168 | €65,909 | -€37,259 | -36.1% |
| Financial income | 75/76B | €417 | - | -€417 | |
| Recurring financial income | 75 | €417 | - | -€417 | |
| Financial charges | 65/66B | €53,549 | €50,224 | -€3,325 | -6.2% |
| Recurring financial charges | 65 | €53,549 | €50,224 | -€3,325 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €50,035 | €15,685 | -€34,351 | -68.7% |
| Income taxes | 67/77 | €13,012 | - | -€13,012 | |
| Profit (loss) for the period | 9904 | €37,023 | €15,685 | -€21,338 | -57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,023 | €15,685 | -€21,338 | -57.6% |
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.