ASQA: 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.
ASQA
Largest movements
- Cash +€26,344
up €26,344 (+36.6%), from €71,907 to €98,251
mainly Current investments (+€19,289) and Net result for the year (+€14,774)
- Current investments -€19,289
down €19,289 (-4.7%), from €413,314 to €394,026
- Reserves +€14,774
up €14,774 (+3.3%), from €446,547 to €461,321
of which Non-distributable reserves: +€14,000
- Other debts -€10,068
down €10,068 (-54.8%), from €18,375 to €8,307
- Gross operating margin -€30,461
down €30,461 (-38.7%), from €78,685 to €48,224
- Financial income -€13,803
down €13,803 (-89.3%), from €15,456 to €1,654
- Taxes +€1,946
up €1,946 (+6.8%), from €28,582 to €30,527
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 | €490,284 | €494,823 | +€4,540 | +0.9% |
| Fixed assets | 21/28 | €5,062 | €2,547 | -€2,515 | -49.7% |
| Tangible fixed assets | 22/27 | €5,062 | €2,547 | -€2,515 | -49.7% |
| Land and buildings | 22 | €2,358 | €1,572 | -€786 | -33.3% |
| Plant, machinery and equipment | 23 | €363 | €182 | -€182 | -50.0% |
| Furniture and vehicles | 24 | €2,341 | €793 | -€1,547 | -66.1% |
| Current assets | 29/58 | €485,221 | €492,276 | +€7,055 | +1.5% |
| Current investments | 50/53 | €413,314 | €394,026 | -€19,289 | -4.7% |
| Cash at bank and in hand | 54/58 | €71,907 | €98,251 | +€26,344 | +36.6% |
| Total equity and liabilities | 10/49 | €490,284 | €494,823 | +€4,540 | +0.9% |
| Equity | 10/15 | €465,147 | €479,921 | +€14,774 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €446,547 | €461,321 | +€14,774 | +3.3% |
| Non-distributable reserves | 130/1 | €158,860 | €172,860 | +€14,000 | +8.8% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €157,000 | €171,000 | +€14,000 | +8.9% |
| Distributable reserves | 133 | €287,687 | €288,461 | +€774 | +0.3% |
| Amounts payable | 17/49 | €25,137 | €14,903 | -€10,235 | -40.7% |
| Amounts payable within one year | 42/48 | €25,137 | €14,903 | -€10,235 | -40.7% |
| Trade debts | 44 | - | €1,071 | +€1,071 | |
| Suppliers | 440/4 | - | €1,071 | +€1,071 | |
| Taxes, remuneration and social security | 45 | €6,762 | €5,525 | -€1,237 | -18.3% |
| Taxes | 450/3 | €6,762 | €5,525 | -€1,237 | -18.3% |
| Other amounts payable | 47/48 | €18,375 | €8,307 | -€10,068 | -54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,621 | €2,515 | -€106 | -4.1% |
| Other operating charges | 640/8 | €2,332 | €1,724 | -€608 | -26.1% |
| Gross operating margin | 9900 | €78,685 | €48,224 | -€30,461 | -38.7% |
| Operating profit (loss) | 9901 | €73,732 | €43,984 | -€29,747 | -40.3% |
| Financial income | 75/76B | €15,456 | €1,654 | -€13,803 | -89.3% |
| Recurring financial income | 75 | €15,456 | €1,654 | -€13,803 | -89.3% |
| Financial charges | 65/66B | €303 | €337 | +€34 | +11.1% |
| Recurring financial charges | 65 | €303 | €337 | +€34 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €88,885 | €45,302 | -€43,583 | -49.0% |
| Income taxes | 67/77 | €28,582 | €30,527 | +€1,946 | +6.8% |
| Profit (loss) for the period | 9904 | €60,303 | €14,774 | -€45,529 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,303 | €14,774 | -€45,529 | -75.5% |
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 24 October 2026 via checked.be.