ASPIDA: 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.
ASPIDA
Largest movements
- Receivables within one year -€134,848
down €134,848 (-39.0%), from €346,148 to €211,300
of which Trade receivables: -€133,999
- Current investments +€75,000
new in 2025: €75,000
- Cash +€42,627
up €42,627 (+50.0%), from €85,203 to €127,830
mainly Receivables within one year (+€134,848) and Net result for the year (+€84,001)
- Deferred charges and accrued income +€9,543
up €9,543 (+260.5%), from €3,664 to €13,207
- Intangible fixed assets +€8,338
new in 2025: €8,338
- Other debts -€84,254
down €84,254 (-80.8%), from €104,299 to €20,045
- Reserves +€66,001
up €66,001 (+62.4%), from €105,762 to €171,764
- Accrued charges and deferred income +€12,993
up €12,993 (+176.7%), from €7,353 to €20,346
- Staff costs +€156,850
up €156,850 (+524.3%), from €29,917 to €186,767
- Taxes -€23,347
down €23,347 (-46.8%), from €49,834 to €26,488
- Gross operating margin +€9,707
up €9,707 (+3.3%), from €297,109 to €306,817
- Depreciation +€3,563
up €3,563 (+175.6%), from €2,028 to €5,591
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 | €452,558 | €455,546 | +€2,988 | +0.7% |
| Fixed assets | 21/28 | €17,543 | €28,209 | +€10,666 | +60.8% |
| Intangible fixed assets | 21 | - | €8,338 | +€8,338 | |
| Tangible fixed assets | 22/27 | €12,893 | €15,222 | +€2,328 | +18.1% |
| Plant, machinery and equipment | 23 | €7,814 | €8,313 | +€500 | +6.4% |
| Furniture and vehicles | 24 | €5,080 | €6,908 | +€1,829 | +36.0% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €435,014 | €427,337 | -€7,678 | -1.8% |
| Amounts receivable within one year | 40/41 | €346,148 | €211,300 | -€134,848 | -39.0% |
| Trade receivables | 40 | €343,091 | €209,092 | -€133,999 | -39.1% |
| Other amounts receivable | 41 | €3,057 | €2,208 | -€849 | -27.8% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €85,203 | €127,830 | +€42,627 | +50.0% |
| Deferred charges and accrued income | 490/1 | €3,664 | €13,207 | +€9,543 | +260.5% |
| Total equity and liabilities | 10/49 | €452,558 | €455,546 | +€2,988 | +0.7% |
| Equity | 10/15 | €110,762 | €176,764 | +€66,001 | +59.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €105,762 | €171,764 | +€66,001 | +62.4% |
| Distributable reserves | 133 | €105,762 | €171,764 | +€66,001 | +62.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €341,795 | €278,782 | -€63,013 | -18.4% |
| Amounts payable after more than one year | 17 | €48,334 | €52,465 | +€4,130 | +8.5% |
| Financial debts | 170/4 | - | €5,186 | +€5,186 | |
| Other amounts payable | 178/9 | €48,334 | €47,279 | -€1,056 | -2.2% |
| Amounts payable within one year | 42/48 | €286,108 | €205,972 | -€80,136 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | - | €2,954 | +€2,954 | |
| Trade debts | 44 | €101,375 | €98,488 | -€2,887 | -2.8% |
| Suppliers | 440/4 | €101,375 | €98,488 | -€2,887 | -2.8% |
| Taxes, remuneration and social security | 45 | €80,433 | €84,484 | +€4,051 | +5.0% |
| Taxes | 450/3 | €74,525 | €60,524 | -€14,001 | -18.8% |
| Remuneration and social security | 454/9 | €5,908 | €23,960 | +€18,052 | +305.5% |
| Other amounts payable | 47/48 | €104,299 | €20,045 | -€84,254 | -80.8% |
| Accrued charges and deferred income | 492/3 | €7,353 | €20,346 | +€12,993 | +176.7% |
| Remuneration, social security and pensions | 62 | €29,917 | €186,767 | +€156,850 | +524.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,028 | €5,591 | +€3,563 | +175.6% |
| Other operating charges | 640/8 | €522 | €501 | -€21 | -4.0% |
| Gross operating margin | 9900 | €297,109 | €306,817 | +€9,707 | +3.3% |
| Operating profit (loss) | 9901 | €264,642 | €113,958 | -€150,684 | -56.9% |
| Financial income | 75/76B | €1,258 | €3,385 | +€2,126 | +168.9% |
| Recurring financial income | 75 | €1,258 | €3,385 | +€2,126 | +168.9% |
| Financial charges | 65/66B | €6,504 | €6,854 | +€350 | +5.4% |
| Recurring financial charges | 65 | €6,504 | €6,854 | +€350 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €259,397 | €110,489 | -€148,908 | -57.4% |
| Income taxes | 67/77 | €49,834 | €26,488 | -€23,347 | -46.8% |
| Profit (loss) for the period | 9904 | €209,562 | €84,001 | -€125,561 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €209,562 | €84,001 | -€125,561 | -59.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.