ASSER: 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.
ASSER
Largest movements
- Receivables within one year +€737,399
up €737,399 (+989.5%), from €74,525 to €811,924
of which Other amounts receivable: +€754,779
- Tangible fixed assets +€178,502
up €178,502 (+37.3%), from €478,450 to €656,952
of which Assets under construction and advance payments: +€128,563
- Financial fixed assets +€133,000
up €133,000 (+5.6%), from €2.4m to €2.5m
- Cash +€82,177
up €82,177 (+23.9%), from €344,117 to €426,294
mainly Net result for the year (+€1.1m) and Debts after one year (+€79,230)
- Reserves +€1.1m
up €1.1m (+159.9%), from €694,635 to €1.8m
- Debts after one year +€79,230
up €79,230 (+4.2%), from €1.9m to €2.0m
- Other debts -€74,539
down €74,539 (-100.0%), from €74,539 to €0
- Gross operating margin +€1.0m
up €1.0m (+183.1%), from €553,206 to €1.6m
- Taxes +€259,996
up €259,996 (+215.7%), from €120,531 to €380,527
- Financial income +€21,669
up €21,669 (+699.0%), from €3,100 to €24,769
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 | €3,304,959 | €4,437,481 | +€1.1m | +34.3% |
| Fixed assets | 21/28 | €2,864,450 | €3,175,952 | +€311,502 | +10.9% |
| Tangible fixed assets | 22/27 | €478,450 | €656,952 | +€178,502 | +37.3% |
| Land and buildings | 22 | €136,270 | €128,689 | -€7,580 | -5.6% |
| Plant, machinery and equipment | 23 | €2,440 | €3,535 | +€1,095 | +44.9% |
| Furniture and vehicles | 24 | €54,610 | €25,783 | -€28,827 | -52.8% |
| Other tangible fixed assets | 26 | €24,807 | €110,058 | +€85,251 | +343.7% |
| Assets under construction and advance payments | 27 | €260,322 | €388,886 | +€128,563 | +49.4% |
| Financial fixed assets | 28 | €2,386,000 | €2,519,000 | +€133,000 | +5.6% |
| Current assets | 29/58 | €440,509 | €1,261,529 | +€821,021 | +186.4% |
| Amounts receivable after more than one year | 29 | €20,700 | €20,700 | = | 0.0% |
| Other amounts receivable | 291 | €20,700 | €20,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €74,525 | €811,924 | +€737,399 | +989.5% |
| Trade receivables | 40 | €24,640 | €7,260 | -€17,380 | -70.5% |
| Other amounts receivable | 41 | €49,885 | €804,664 | +€754,779 | +1513.0% |
| Cash at bank and in hand | 54/58 | €344,117 | €426,294 | +€82,177 | +23.9% |
| Deferred charges and accrued income | 490/1 | €1,167 | €2,612 | +€1,444 | +123.8% |
| Total equity and liabilities | 10/49 | €3,304,959 | €4,437,481 | +€1.1m | +34.3% |
| Equity | 10/15 | €1,207,035 | €2,324,141 | +€1.1m | +92.5% |
| Contributions | 10/11 | €512,400 | €518,600 | +€6,200 | +1.2% |
| Reserves | 13 | €694,635 | €1,805,541 | +€1.1m | +159.9% |
| Distributable reserves | 133 | €694,635 | €1,805,541 | +€1.1m | +159.9% |
| Amounts payable | 17/49 | €2,097,923 | €2,113,340 | +€15,417 | +0.7% |
| Amounts payable after more than one year | 17 | €1,879,462 | €1,958,692 | +€79,230 | +4.2% |
| Financial debts | 170/4 | €1,879,462 | €1,958,692 | +€79,230 | +4.2% |
| Amounts payable within one year | 42/48 | €218,461 | €154,648 | -€63,813 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €117,909 | €120,770 | +€2,861 | +2.4% |
| Trade debts | 44 | €3,939 | €9,193 | +€5,253 | +133.3% |
| Suppliers | 440/4 | €3,939 | €9,193 | +€5,253 | +133.3% |
| Taxes, remuneration and social security | 45 | €22,074 | €24,685 | +€2,612 | +11.8% |
| Taxes | 450/3 | €22,074 | €24,685 | +€2,612 | +11.8% |
| Other amounts payable | 47/48 | €74,539 | €0 | -€74,539 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,670 | €43,594 | +€5,924 | +15.7% |
| Other operating charges | 640/8 | €3,391 | €2,659 | -€732 | -21.6% |
| Gross operating margin | 9900 | €553,206 | €1,566,273 | +€1.0m | +183.1% |
| Operating profit (loss) | 9901 | €512,144 | €1,520,021 | +€1.0m | +196.8% |
| Financial income | 75/76B | €3,100 | €24,769 | +€21,669 | +699.0% |
| Recurring financial income | 75 | €3,100 | €24,769 | +€21,669 | +699.0% |
| Financial charges | 65/66B | €55,334 | €53,357 | -€1,977 | -3.6% |
| Recurring financial charges | 65 | €55,334 | €53,357 | -€1,977 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €459,911 | €1,491,432 | +€1.0m | +224.3% |
| Income taxes | 67/77 | €120,531 | €380,527 | +€259,996 | +215.7% |
| Profit (loss) for the period | 9904 | €339,379 | €1,110,906 | +€771,526 | +227.3% |
| Profit (loss) for the period to be appropriated | 9905 | €339,379 | €1,110,906 | +€771,526 | +227.3% |
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 8 October 2026 via checked.be.