ASSOCIATED SERVICES: 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.
ASSOCIATED SERVICES
Largest movements
- Tangible fixed assets -€80,448
down €80,448 (-11.1%), from €723,268 to €642,820
of which Land and buildings: -€64,067
- Receivables after one year -€33,842
down €33,842 (-20.2%), from €167,522 to €133,679
- Debts after one year -€96,519
down €96,519 (-21.8%), from €442,840 to €346,321
of which Other amounts payable: -€124,778
- Reserves -€18,616
down €18,616 (-5.2%), from €360,646 to €342,030
- Current portion of long-term debt +€13,130
up €13,130 (+14.8%), from €89,000 to €102,130
- Other operating charges +€14,917
up €14,917 (+396%), from €3,771 to €18,688
- Financial charges -€11,002
down €11,002 (-52.7%), from €20,872 to €9,871
of which Financial charges: -€11,002
- Gross operating margin +€10,256
up €10,256 (+11.6%), from €88,264 to €98,521
- Taxes +€8,298
up €8,298 (+390%), from €2,126 to €10,424
- Depreciation -€2,710
down €2,710 (-3.5%), from €77,499 to €74,789
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,063,443 | €944,592 | -€118,851 | -11.2% |
| Fixed assets | 21/28 | €723,268 | €642,820 | -€80,448 | -11.1% |
| Tangible fixed assets | 22/27 | €723,268 | €642,820 | -€80,448 | -11.1% |
| Land and buildings | 22 | €690,326 | €626,259 | -€64,067 | -9.3% |
| Plant, machinery and equipment | 23 | €8,754 | €10,514 | +€1,760 | +20.1% |
| Furniture and vehicles | 24 | €24,188 | €6,048 | -€18,141 | -75.0% |
| Current assets | 29/58 | €340,175 | €301,772 | -€38,403 | -11.3% |
| Amounts receivable after more than one year | 29 | €167,522 | €133,679 | -€33,842 | -20.2% |
| Other amounts receivable | 291 | €167,522 | €133,679 | -€33,842 | -20.2% |
| Amounts receivable within one year | 40/41 | €7,884 | €352 | -€7,531 | -95.5% |
| Trade receivables | 40 | €7,814 | €0 | -€7,814 | -100% |
| Other amounts receivable | 41 | €70 | €352 | +€282 | +403% |
| Cash at bank and in hand | 54/58 | €153,679 | €163,312 | +€9,633 | +6.3% |
| Deferred charges and accrued income | 490/1 | €11,091 | €4,428 | -€6,663 | -60.1% |
| Total equity and liabilities | 10/49 | €1,063,443 | €944,592 | -€118,851 | -11.2% |
| Equity | 10/15 | €405,246 | €386,630 | -€18,616 | -4.6% |
| Contributions | 10/11 | €44,600 | €44,600 | = | 0.0% |
| Reserves | 13 | €360,646 | €342,030 | -€18,616 | -5.2% |
| Distributable reserves | 133 | €360,646 | €342,030 | -€18,616 | -5.2% |
| Provisions and deferred taxes | 16 | €91,104 | €91,104 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €91,104 | €91,104 | = | 0.0% |
| Pensions and similar obligations | 160 | €91,104 | €91,104 | = | 0.0% |
| Amounts payable | 17/49 | €567,093 | €466,858 | -€100,235 | -17.7% |
| Amounts payable after more than one year | 17 | €442,840 | €346,321 | -€96,519 | -21.8% |
| Financial debts | 170/4 | €318,062 | €346,321 | +€28,259 | +8.9% |
| Other amounts payable | 178/9 | €124,778 | - | -€124,778 | |
| Amounts payable within one year | 42/48 | €114,608 | €120,537 | +€5,929 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €89,000 | €102,130 | +€13,130 | +14.8% |
| Trade debts | 44 | €19,571 | €16,493 | -€3,078 | -15.7% |
| Suppliers | 440/4 | €19,571 | €16,493 | -€3,078 | -15.7% |
| Taxes, remuneration and social security | 45 | €6,037 | €1,914 | -€4,123 | -68.3% |
| Taxes | 450/3 | €6,037 | €1,914 | -€4,123 | -68.3% |
| Accrued charges and deferred income | 492/3 | €9,645 | €0 | -€9,645 | -100% |
| Non-recurring operating income | 76A | - | €14,119 | +€14,119 | |
| Remuneration, social security and pensions | 62 | -€221 | €0 | +€221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,499 | €74,789 | -€2,710 | -3.5% |
| Other operating charges | 640/8 | €3,771 | €18,688 | +€14,917 | +396% |
| Non-recurring operating charges | 66A | - | €3,410 | +€3,410 | |
| Gross operating margin | 9900 | €88,264 | €98,521 | +€10,256 | +11.6% |
| Operating profit (loss) | 9901 | €7,215 | €1,634 | -€5,581 | -77.4% |
| Financial income | 75/76B | €120 | €45 | -€75 | -62.5% |
| Recurring financial income | 75 | €120 | €45 | -€75 | -62.5% |
| Financial charges | 65/66B | €20,872 | €9,871 | -€11,002 | -52.7% |
| Recurring financial charges | 65 | €20,872 | €9,871 | -€11,002 | -52.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€13,538 | -€8,192 | +€5,346 | +39.5% |
| Income taxes | 67/77 | €2,126 | €10,424 | +€8,298 | +390% |
| Profit (loss) for the period | 9904 | -€15,664 | -€18,616 | -€2,952 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,664 | -€18,616 | -€2,952 | -18.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.