ASSEAU: 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.
ASSEAU
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Receivables within one year +€87,882
up €87,882 (+27.9%), from €315,087 to €402,969
of which Trade receivables: +€46,675
- Tangible fixed assets -€30,966
down €30,966 (-11.1%), from €278,179 to €247,212
- Stocks and contracts -€19,097
down €19,097 (-41.1%), from €46,457 to €27,361
- Trade debts -€173,280
down €173,280 (-51.7%), from €335,191 to €161,911
- Other debts +€56,513
up €56,513 (+98.9%), from €57,159 to €113,672
- Reserves -€45,439
down €45,439 (-7.5%), from €604,312 to €558,873
of which Distributable reserves: -€45,439
- Gross operating margin -€150,394
down €150,394 (-38.1%), from €395,139 to €244,746
- Taxes -€54,912
down €54,912 (-64.5%), from €85,142 to €30,231
- Staff costs +€8,386
up €8,386 (+8.9%), from €94,745 to €103,131
- Financial income -€6,170
down €6,170 (-88.7%), from €6,960 to €789
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 | €1,501,899 | €1,350,612 | -€151,287 | -10.1% |
| Fixed assets | 21/28 | €278,179 | €247,212 | -€30,966 | -11.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €278,179 | €247,212 | -€30,966 | -11.1% |
| Land and buildings | 22 | €192,250 | €179,248 | -€13,002 | -6.8% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €55,246 | €42,661 | -€12,585 | -22.8% |
| Other tangible fixed assets | 26 | €30,683 | €25,304 | -€5,379 | -17.5% |
| Current assets | 29/58 | €1,223,720 | €1,103,400 | -€120,320 | -9.8% |
| Stocks and contracts in progress | 3 | €46,457 | €27,361 | -€19,097 | -41.1% |
| Stocks | 30/36 | €46,457 | €27,361 | -€19,097 | -41.1% |
| Amounts receivable within one year | 40/41 | €315,087 | €402,969 | +€87,882 | +27.9% |
| Trade receivables | 40 | €252,717 | €299,392 | +€46,675 | +18.5% |
| Other amounts receivable | 41 | €62,370 | €103,577 | +€41,207 | +66.1% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €646,386 | €656,498 | +€10,112 | +1.6% |
| Deferred charges and accrued income | 490/1 | €15,790 | €16,572 | +€783 | +5.0% |
| Total equity and liabilities | 10/49 | €1,501,899 | €1,350,612 | -€151,287 | -10.1% |
| Equity | 10/15 | €1,092,346 | €1,046,907 | -€45,439 | -4.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €604,312 | €558,873 | -€45,439 | -7.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €598,115 | €552,676 | -€45,439 | -7.6% |
| Profit (loss) carried forward | 14 | €426,061 | €426,061 | = | 0.0% |
| Amounts payable | 17/49 | €409,552 | €303,705 | -€105,847 | -25.8% |
| Amounts payable within one year | 42/48 | €409,177 | €301,219 | -€107,957 | -26.4% |
| Trade debts | 44 | €335,191 | €161,911 | -€173,280 | -51.7% |
| Suppliers | 440/4 | €335,191 | €161,911 | -€173,280 | -51.7% |
| Taxes, remuneration and social security | 45 | €16,826 | €25,636 | +€8,809 | +52.4% |
| Taxes | 450/3 | €4,266 | €16,582 | +€12,316 | +288.7% |
| Remuneration and social security | 454/9 | €12,560 | €9,054 | -€3,506 | -27.9% |
| Other amounts payable | 47/48 | €57,159 | €113,672 | +€56,513 | +98.9% |
| Accrued charges and deferred income | 492/3 | €376 | €2,486 | +€2,110 | +561.5% |
| Remuneration, social security and pensions | 62 | €94,745 | €103,131 | +€8,386 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,179 | €38,004 | +€3,825 | +11.2% |
| Other operating charges | 640/8 | €4,967 | €5,295 | +€328 | +6.6% |
| Gross operating margin | 9900 | €395,139 | €244,746 | -€150,394 | -38.1% |
| Operating profit (loss) | 9901 | €261,248 | €98,315 | -€162,933 | -62.4% |
| Financial income | 75/76B | €6,960 | €789 | -€6,170 | -88.7% |
| Recurring financial income | 75 | €6,960 | €789 | -€6,170 | -88.7% |
| Financial charges | 65/66B | €963 | €684 | -€280 | -29.0% |
| Recurring financial charges | 65 | €963 | €684 | -€280 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €267,245 | €98,421 | -€168,824 | -63.2% |
| Income taxes | 67/77 | €85,142 | €30,231 | -€54,912 | -64.5% |
| Profit (loss) for the period | 9904 | €182,102 | €68,190 | -€113,912 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €182,102 | €68,190 | -€113,912 | -62.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.