ASPIVITY: what changed
Two financial 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.
ASPIVITY
Largest movements
- Cash +€23,836
up €23,836 (+4,986%), from €478 to €24,314
mainly Trade debts (+€57,658) and Net result for the year (+€88)
- Receivables within one year +€18,930
up €18,930 (+5.4%), from €349,104 to €368,034
of which Trade receivables: +€15,294
- Deferred charges and accrued income +€15,000
new in 2025: €15,000
- Trade debts +€57,658
up €57,658 (+17.9%), from €321,391 to €379,049
- Taxes -€258
down €258 (-88.9%), from €290 to €32
- Gross operating margin -€169
down €169 (-21.6%), from €781 to €612
- Financial charges +€59
up €59 (+84.0%), from €71 to €130
- Other operating charges +€13
up €13 (+3.7%), from €349 to €362
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.
Derived cash bridge
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 | €349,582 | €407,348 | +€57,766 | +16.5% |
| Current assets | 29/58 | €349,582 | €407,348 | +€57,766 | +16.5% |
| Amounts receivable within one year | 40/41 | €349,104 | €368,034 | +€18,930 | +5.4% |
| Trade receivables | 40 | €277,600 | €292,895 | +€15,294 | +5.5% |
| Other amounts receivable | 41 | €71,504 | €75,139 | +€3,635 | +5.1% |
| Cash at bank and in hand | 54/58 | €478 | €24,314 | +€23,836 | +4,986% |
| Deferred charges and accrued income | 490/1 | - | €15,000 | +€15,000 | |
| Total equity and liabilities | 10/49 | €349,582 | €407,348 | +€57,766 | +16.5% |
| Equity | 10/15 | €28,096 | €28,184 | +€88 | +0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €8,096 | €8,184 | +€88 | +1.1% |
| Non-distributable reserves | 130/1 | €2,204 | €2,204 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,204 | €2,204 | = | 0.0% |
| Distributable reserves | 133 | €5,893 | €5,981 | +€88 | +1.5% |
| Amounts payable | 17/49 | €321,486 | €379,163 | +€57,677 | +17.9% |
| Amounts payable within one year | 42/48 | €321,486 | €379,163 | +€57,677 | +17.9% |
| Trade debts | 44 | €321,391 | €379,049 | +€57,658 | +17.9% |
| Suppliers | 440/4 | €321,391 | €379,049 | +€57,658 | +17.9% |
| Taxes, remuneration and social security | 45 | €95 | €115 | +€19 | +20.4% |
| Taxes | 450/3 | €95 | €115 | +€19 | +20.4% |
| Other operating charges | 640/8 | €349 | €362 | +€13 | +3.7% |
| Gross operating margin | 9900 | €781 | €612 | -€169 | -21.6% |
| Operating profit (loss) | 9901 | €432 | €250 | -€182 | -42.1% |
| Financial charges | 65/66B | €71 | €130 | +€59 | +84.0% |
| Recurring financial charges | 65 | €71 | €130 | +€59 | +84.0% |
| Profit (loss) for the period before taxes | 9903 | €361 | €120 | -€241 | -66.7% |
| Income taxes | 67/77 | €290 | €32 | -€258 | -88.9% |
| Profit (loss) for the period | 9904 | €71 | €88 | +€17 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71 | €88 | +€17 | +23.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.