ASREVO: what changed
ASREVO
Largest movements
- Receivables within one year -€262,213
down €262,213 (-48.6%), from €539,687 to €277,474
of which Trade receivables: -€252,948
- Cash +€115,171
up €115,171 (+38.2%), from €301,216 to €416,387
mainly Receivables within one year (+€262,213) and Depreciation (+€88,586)
- Tangible fixed assets -€83,762
down €83,762 (-13.4%), from €624,291 to €540,529
of which Furniture and vehicles: -€51,136
- Stocks and contracts -€50,388
down €50,388 (-30.3%), from €166,057 to €115,669
- Trade debts -€145,140
down €145,140 (-88.8%), from €163,409 to €18,269
- Other debts -€88,864
down €88,864 (-92.6%), from €95,952 to €7,089
- Debts after one year -€61,494
down €61,494 (-14.3%), from €431,352 to €369,858
- Reserves +€36,913
up €36,913 (+4.3%), from €857,241 to €894,154
of which Distributable reserves: +€38,773
- Gross operating margin -€209,332
down €209,332 (-20.6%), from €1.0m to €808,362
- Staff costs -€141,647
down €141,647 (-18.1%), from €783,226 to €641,579
- Taxes -€20,317
down €20,317 (-56.5%), from €35,937 to €15,620
- Financial income -€14,620
down €14,620 (-73.2%), from €19,970 to €5,350
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,674,929 | €1,403,428 | -€271,502 | -16.2% |
| Fixed assets | 21/28 | €667,196 | €584,514 | -€82,682 | -12.4% |
| Tangible fixed assets | 22/27 | €624,291 | €540,529 | -€83,762 | -13.4% |
| Land and buildings | 22 | €456,270 | €425,392 | -€30,878 | -6.8% |
| Plant, machinery and equipment | 23 | €2,519 | €771 | -€1,748 | -69.4% |
| Furniture and vehicles | 24 | €165,502 | €114,366 | -€51,136 | -30.9% |
| Financial fixed assets | 28 | €42,905 | €43,985 | +€1,080 | +2.5% |
| Current assets | 29/58 | €1,007,733 | €818,914 | -€188,820 | -18.7% |
| Stocks and contracts in progress | 3 | €166,057 | €115,669 | -€50,388 | -30.3% |
| Stocks | 30/36 | €166,057 | €115,669 | -€50,388 | -30.3% |
| Amounts receivable within one year | 40/41 | €539,687 | €277,474 | -€262,213 | -48.6% |
| Trade receivables | 40 | €450,953 | €198,006 | -€252,948 | -56.1% |
| Other amounts receivable | 41 | €88,734 | €79,469 | -€9,265 | -10.4% |
| Cash at bank and in hand | 54/58 | €301,216 | €416,387 | +€115,171 | +38.2% |
| Deferred charges and accrued income | 490/1 | €773 | €9,383 | +€8,610 | +1,114% |
| Total equity and liabilities | 10/49 | €1,674,929 | €1,403,428 | -€271,502 | -16.2% |
| Equity | 10/15 | €869,641 | €906,554 | +€36,913 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €857,241 | €894,154 | +€36,913 | +4.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €855,381 | €894,154 | +€38,773 | +4.5% |
| Amounts payable | 17/49 | €805,288 | €496,873 | -€308,415 | -38.3% |
| Amounts payable after more than one year | 17 | €431,352 | €369,858 | -€61,494 | -14.3% |
| Financial debts | 170/4 | €431,352 | €369,858 | -€61,494 | -14.3% |
| Amounts payable within one year | 42/48 | €373,936 | €127,010 | -€246,926 | -66.0% |
| Current portion of amounts payable after more than one year | 42 | €71,801 | €62,142 | -€9,659 | -13.5% |
| Financial debts | 43 | €16,909 | €16,850 | -€59 | -0.3% |
| Credit institutions | 430/8 | €16,909 | €16,850 | -€59 | -0.3% |
| Trade debts | 44 | €163,409 | €18,269 | -€145,140 | -88.8% |
| Suppliers | 440/4 | €163,409 | €18,269 | -€145,140 | -88.8% |
| Taxes, remuneration and social security | 45 | €25,863 | €22,660 | -€3,204 | -12.4% |
| Taxes | 450/3 | €4,177 | €3,744 | -€433 | -10.4% |
| Remuneration and social security | 454/9 | €21,687 | €18,916 | -€2,771 | -12.8% |
| Other amounts payable | 47/48 | €95,952 | €7,089 | -€88,864 | -92.6% |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Remuneration, social security and pensions | 62 | €783,226 | €641,579 | -€141,647 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,592 | €88,586 | +€4,994 | +6.0% |
| Other operating charges | 640/8 | €8,772 | €6,050 | -€2,722 | -31.0% |
| Gross operating margin | 9900 | €1,017,693 | €808,362 | -€209,332 | -20.6% |
| Operating profit (loss) | 9901 | €142,103 | €72,147 | -€69,957 | -49.2% |
| Financial income | 75/76B | €19,970 | €5,350 | -€14,620 | -73.2% |
| Recurring financial income | 75 | €19,970 | €5,350 | -€14,620 | -73.2% |
| Financial charges | 65/66B | €31,634 | €24,964 | -€6,670 | -21.1% |
| Recurring financial charges | 65 | €31,634 | €24,964 | -€6,670 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €130,439 | €52,533 | -€77,907 | -59.7% |
| Income taxes | 67/77 | €35,937 | €15,620 | -€20,317 | -56.5% |
| Profit (loss) for the period | 9904 | €94,502 | €36,913 | -€57,589 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €94,502 | €36,913 | -€57,589 | -60.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.