ASSERTUS: what changed
Two financial 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.
ASSERTUS
Largest movements
- Intangible fixed assets +€2.1m
up €2.1m (+18,433%), from €11,469 to €2.1m
- Receivables within one year +€294,186
up €294,186 (+409%), from €71,918 to €366,104
- Cash -€104,060
down €104,060 (-58.1%), from €179,060 to €75,000
mainly Investment in fixed assets (net) (-€2.4m) and Receivables within one year (-€294,186)
- Debts after one year +€2.0m
new in 2025: €2.0m
- Current portion of long-term debt +€211,207
new in 2025: €211,207
- Tax, wage and social debts +€84,047
up €84,047 (+154%), from €54,690 to €138,737
of which Remuneration and social security: +€71,855
- Trade debts +€35,358
up €35,358 (+463%), from €7,644 to €43,001
- Gross operating margin +€442,913
up €442,913 (+109%), from €404,493 to €847,406
- Staff costs +€397,887
up €397,887 (+303%), from €131,174 to €529,060
- Depreciation +€245,617
up €245,617 (+9,617%), from €2,554 to €248,171
- Taxes -€62,424
down €62,424 (-88.0%), from €70,945 to €8,521
- Financial charges +€58,148
up €58,148 (+8,838%), from €658 to €58,806
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.
Derived cash bridge
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 | €263,672 | €2,594,184 | +€2.3m | +884% |
| Fixed assets | 21/28 | €12,695 | €2,148,488 | +€2.1m | +16,824% |
| Intangible fixed assets | 21 | €11,469 | €2,125,630 | +€2.1m | +18,433% |
| Tangible fixed assets | 22/27 | €956 | €11,878 | +€10,922 | +1,143% |
| Furniture and vehicles | 24 | €956 | €11,878 | +€10,922 | +1,143% |
| Financial fixed assets | 28 | €269 | €10,980 | +€10,711 | +3,975% |
| Current assets | 29/58 | €250,978 | €445,696 | +€194,719 | +77.6% |
| Amounts receivable within one year | 40/41 | €71,918 | €366,104 | +€294,186 | +409% |
| Other amounts receivable | 41 | €71,918 | €366,104 | +€294,186 | +409% |
| Cash at bank and in hand | 54/58 | €179,060 | €75,000 | -€104,060 | -58.1% |
| Deferred charges and accrued income | 490/1 | - | €4,593 | +€4,593 | |
| Total equity and liabilities | 10/49 | €263,672 | €2,594,184 | +€2.3m | +884% |
| Equity | 10/15 | €199,569 | €209,087 | +€9,518 | +4.8% |
| Contributions | 10/11 | €1,000 | €4,322 | +€3,322 | +332% |
| Reserves | 13 | €198,569 | €204,765 | +€6,196 | +3.1% |
| Distributable reserves | 133 | €198,569 | €204,765 | +€6,196 | +3.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €64,103 | €2,385,097 | +€2.3m | +3,621% |
| Amounts payable after more than one year | 17 | - | €1,962,478 | +€2.0m | |
| Financial debts | 170/4 | - | €1,962,478 | +€2.0m | |
| Amounts payable within one year | 42/48 | €64,103 | €413,870 | +€349,767 | +546% |
| Current portion of amounts payable after more than one year | 42 | - | €211,207 | +€211,207 | |
| Trade debts | 44 | €7,644 | €43,001 | +€35,358 | +463% |
| Suppliers | 440/4 | €7,644 | €43,001 | +€35,358 | +463% |
| Taxes, remuneration and social security | 45 | €54,690 | €138,737 | +€84,047 | +154% |
| Taxes | 450/3 | €33,430 | €45,622 | +€12,192 | +36.5% |
| Remuneration and social security | 454/9 | €21,260 | €93,115 | +€71,855 | +338% |
| Other amounts payable | 47/48 | €1,769 | €20,924 | +€19,155 | +1,083% |
| Accrued charges and deferred income | 492/3 | - | €8,750 | +€8,750 | |
| Non-recurring operating income | 76A | €0 | €10,771 | +€10,771 | |
| Remuneration, social security and pensions | 62 | €131,174 | €529,060 | +€397,887 | +303% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,554 | €248,171 | +€245,617 | +9,617% |
| Other operating charges | 640/8 | €593 | €1,572 | +€979 | +165% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €404,493 | €847,406 | +€442,913 | +109% |
| Operating profit (loss) | 9901 | €270,172 | €68,603 | -€201,569 | -74.6% |
| Financial income | 75/76B | €0 | €60 | +€60 | |
| Recurring financial income | 75 | €0 | €60 | +€60 | |
| Financial charges | 65/66B | €658 | €58,806 | +€58,148 | +8,838% |
| Recurring financial charges | 65 | €658 | €58,806 | +€58,148 | +8,838% |
| Profit (loss) for the period before taxes | 9903 | €269,514 | €9,857 | -€259,657 | -96.3% |
| Income taxes | 67/77 | €70,945 | €8,521 | -€62,424 | -88.0% |
| Profit (loss) for the period | 9904 | €198,569 | €1,336 | -€197,233 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €198,569 | €1,336 | -€197,233 | -99.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.