ASR: 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.
ASR
Largest movements
- Receivables after one year +€67,830
up €67,830 (+31.5%), from €215,601 to €283,431
- Tangible fixed assets -€23,740
down €23,740 (-42.8%), from €55,492 to €31,752
of which Furniture and vehicles: -€23,524
- Cash -€16,471
down €16,471 (-76.5%), from €21,539 to €5,068
mainly Contributions, distributions and other (-€168,573) and Receivables after one year (-€67,830)
- Receivables within one year -€4,587
down €4,587 (-6.2%), from €73,566 to €68,979
of which Trade receivables: -€3,557
- Other debts +€157,073
up €157,073 (+1365.9%), from €11,500 to €168,573
- Reserves -€117,001
down €117,001 (-39.1%), from €299,137 to €182,136
of which Distributable reserves: -€117,001
- Debts after one year -€15,290
down €15,290 (-100.0%), from €15,290 to €0
- Tax, wage and social debts -€6,738
down €6,738 (-50.4%), from €13,379 to €6,640
of which Taxes: -€3,738
- Current portion of long-term debt +€5,125
up €5,125, from €0 to €5,125
- Gross operating margin -€12,145
down €12,145 (-11.6%), from €104,466 to €92,322
- Financial income +€5,795
up €5,795 (+2198.9%), from €264 to €6,058
- Other operating charges -€1,929
down €1,929 (-53.7%), from €3,595 to €1,666
- Taxes -€1,639
down €1,639 (-9.5%), from €17,292 to €15,653
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 | €367,506 | €390,330 | +€22,824 | +6.2% |
| Fixed assets | 21/28 | €55,692 | €31,952 | -€23,740 | -42.6% |
| Tangible fixed assets | 22/27 | €55,492 | €31,752 | -€23,740 | -42.8% |
| Plant, machinery and equipment | 23 | €5,635 | €5,419 | -€216 | -3.8% |
| Furniture and vehicles | 24 | €49,858 | €26,334 | -€23,524 | -47.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €311,814 | €358,378 | +€46,564 | +14.9% |
| Amounts receivable after more than one year | 29 | €215,601 | €283,431 | +€67,830 | +31.5% |
| Other amounts receivable | 291 | €215,601 | €283,431 | +€67,830 | +31.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €73,566 | €68,979 | -€4,587 | -6.2% |
| Trade receivables | 40 | €63,145 | €59,588 | -€3,557 | -5.6% |
| Other amounts receivable | 41 | €10,421 | €9,391 | -€1,030 | -9.9% |
| Cash at bank and in hand | 54/58 | €21,539 | €5,068 | -€16,471 | -76.5% |
| Deferred charges and accrued income | 490/1 | €1,108 | €900 | -€208 | -18.8% |
| Total equity and liabilities | 10/49 | €367,506 | €390,330 | +€22,824 | +6.2% |
| Equity | 10/15 | €322,589 | €205,588 | -€117,001 | -36.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €299,137 | €182,136 | -€117,001 | -39.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €299,137 | €182,136 | -€117,001 | -39.1% |
| Profit (loss) carried forward | 14 | €4,851 | €4,851 | = | 0.0% |
| Amounts payable | 17/49 | €44,918 | €184,742 | +€139,824 | +311.3% |
| Amounts payable after more than one year | 17 | €15,290 | €0 | -€15,290 | -100.0% |
| Financial debts | 170/4 | €15,290 | €0 | -€15,290 | -100.0% |
| Amounts payable within one year | 42/48 | €29,628 | €184,742 | +€155,114 | +523.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €5,125 | +€5,125 | |
| Trade debts | 44 | €4,750 | €4,404 | -€346 | -7.3% |
| Suppliers | 440/4 | €4,750 | €4,404 | -€346 | -7.3% |
| Taxes, remuneration and social security | 45 | €13,379 | €6,640 | -€6,738 | -50.4% |
| Taxes | 450/3 | €10,379 | €6,640 | -€3,738 | -36.0% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100.0% |
| Other amounts payable | 47/48 | €11,500 | €168,573 | +€157,073 | +1365.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,848 | €29,296 | -€552 | -1.8% |
| Other operating charges | 640/8 | €3,595 | €1,666 | -€1,929 | -53.7% |
| Gross operating margin | 9900 | €104,466 | €92,322 | -€12,145 | -11.6% |
| Operating profit (loss) | 9901 | €71,023 | €61,359 | -€9,664 | -13.6% |
| Financial income | 75/76B | €264 | €6,058 | +€5,795 | +2198.9% |
| Recurring financial income | 75 | €264 | €6,058 | +€5,795 | +2198.9% |
| Financial charges | 65/66B | €240 | €192 | -€49 | -20.2% |
| Recurring financial charges | 65 | €240 | €192 | -€49 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €71,046 | €67,226 | -€3,821 | -5.4% |
| Income taxes | 67/77 | €17,292 | €15,653 | -€1,639 | -9.5% |
| Profit (loss) for the period | 9904 | €53,754 | €51,573 | -€2,181 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,754 | €51,573 | -€2,181 | -4.1% |
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 8 October 2026 via checked.be.