ASSERT CONCEPT: 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.
ASSERT CONCEPT
Largest movements
- Tangible fixed assets +€42,309
up €42,309 (+3129.7%), from €1,352 to €43,661
- Cash +€26,248
up €26,248 (+59.3%), from €44,238 to €70,486
mainly Net result for the year (+€69,307) and Other debts (+€36,989)
- Receivables within one year +€7,129
up €7,129 (+25.0%), from €28,551 to €35,680
of which Other amounts receivable: +€9,004
- Other debts +€36,989
up €36,989 (+72.9%), from €50,725 to €87,714
- Debts after one year +€34,975
new in 2025: €34,975
- Profit (loss) carried forward -€10,853
no longer reported in 2025 (was €10,853)
- Current portion of long-term debt +€10,254
new in 2025: €10,254
- Tax, wage and social debts +€4,357
up €4,357 (+79.5%), from €5,478 to €9,835
of which Taxes: +€2,257
- Gross operating margin +€23,980
up €23,980 (+31.4%), from €76,414 to €100,394
- Depreciation +€9,586
up €9,586 (+1298.4%), from €738 to €10,324
- Financial charges +€2,204
up €2,204 (+501.1%), from €440 to €2,644
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 | €74,157 | €149,827 | +€75,670 | +102.0% |
| Fixed assets | 21/28 | €1,352 | €43,661 | +€42,309 | +3129.7% |
| Tangible fixed assets | 22/27 | €1,352 | €43,661 | +€42,309 | +3129.7% |
| Furniture and vehicles | 24 | €1,352 | €43,661 | +€42,309 | +3129.7% |
| Current assets | 29/58 | €72,805 | €106,167 | +€33,361 | +45.8% |
| Amounts receivable within one year | 40/41 | €28,551 | €35,680 | +€7,129 | +25.0% |
| Trade receivables | 40 | €28,097 | €26,223 | -€1,874 | -6.7% |
| Other amounts receivable | 41 | €454 | €9,457 | +€9,004 | +1984.4% |
| Cash at bank and in hand | 54/58 | €44,238 | €70,486 | +€26,248 | +59.3% |
| Deferred charges and accrued income | 490/1 | €16 | - | -€16 | |
| Total equity and liabilities | 10/49 | €74,157 | €149,827 | +€75,670 | +102.0% |
| Equity | 10/15 | €14,353 | €3,500 | -€10,853 | -75.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,853 | - | -€10,853 | |
| Amounts payable | 17/49 | €59,804 | €146,327 | +€86,523 | +144.7% |
| Amounts payable after more than one year | 17 | - | €34,975 | +€34,975 | |
| Financial debts | 170/4 | - | €34,975 | +€34,975 | |
| Amounts payable within one year | 42/48 | €59,804 | €111,017 | +€51,213 | +85.6% |
| Current portion of amounts payable after more than one year | 42 | - | €10,254 | +€10,254 | |
| Trade debts | 44 | €3,601 | €3,214 | -€387 | -10.7% |
| Suppliers | 440/4 | €3,601 | €3,214 | -€387 | -10.7% |
| Taxes, remuneration and social security | 45 | €5,478 | €9,835 | +€4,357 | +79.5% |
| Taxes | 450/3 | €5,478 | €7,735 | +€2,257 | +41.2% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €50,725 | €87,714 | +€36,989 | +72.9% |
| Accrued charges and deferred income | 492/3 | - | €335 | +€335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €738 | €10,324 | +€9,586 | +1298.4% |
| Other operating charges | 640/8 | €387 | €1,076 | +€688 | +177.7% |
| Gross operating margin | 9900 | €76,414 | €100,394 | +€23,980 | +31.4% |
| Operating profit (loss) | 9901 | €75,289 | €88,994 | +€13,705 | +18.2% |
| Financial charges | 65/66B | €440 | €2,644 | +€2,204 | +501.1% |
| Recurring financial charges | 65 | €440 | €2,644 | +€2,204 | +501.1% |
| Profit (loss) for the period before taxes | 9903 | €74,849 | €86,350 | +€11,501 | +15.4% |
| Income taxes | 67/77 | €16,046 | €17,043 | +€996 | +6.2% |
| Profit (loss) for the period | 9904 | €58,802 | €69,307 | +€10,505 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,802 | €69,307 | +€10,505 | +17.9% |
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.