ASSTEQ: 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.
ASSTEQ
Largest movements
- Receivables within one year +€97,049
up €97,049 (+243.4%), from €39,869 to €136,919
of which Trade receivables: +€108,722
- Cash +€40,987
up €40,987 (+4405.7%), from €930 to €41,917
mainly Trade debts (+€61,833) and Net result for the year (+€42,421)
- Intangible fixed assets -€17,005
down €17,005 (-25.0%), from €68,000 to €50,995
- Tangible fixed assets -€12,776
down €12,776 (-21.3%), from €59,923 to €47,146
of which Furniture and vehicles: -€10,094
- Trade debts +€61,833
up €61,833 (+502.4%), from €12,309 to €74,142
- Reserves +€42,421
up €42,421 (+102.9%), from €41,241 to €83,662
- Tax, wage and social debts +€17,415
up €17,415 (+8598.9%), from €203 to €17,617
- Other debts -€7,495
down €7,495 (-7.9%), from €94,712 to €87,217
- Debts after one year -€6,495
down €6,495 (-48.8%), from €13,314 to €6,819
- Gross operating margin +€32,630
up €32,630 (+50.9%), from €64,128 to €96,758
- Depreciation +€10,424
up €10,424 (+44.2%), from €23,577 to €34,002
- Taxes +€6,609
up €6,609 (+59.4%), from €11,125 to €17,734
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 | €171,181 | €278,736 | +€107,555 | +62.8% |
| Formation expenses | 20 | €420 | €225 | -€195 | -46.4% |
| Fixed assets | 21/28 | €127,923 | €98,141 | -€29,782 | -23.3% |
| Intangible fixed assets | 21 | €68,000 | €50,995 | -€17,005 | -25.0% |
| Tangible fixed assets | 22/27 | €59,923 | €47,146 | -€12,776 | -21.3% |
| Furniture and vehicles | 24 | €49,174 | €39,079 | -€10,094 | -20.5% |
| Other tangible fixed assets | 26 | €10,749 | €8,067 | -€2,682 | -25.0% |
| Current assets | 29/58 | €42,838 | €180,369 | +€137,531 | +321.0% |
| Stocks and contracts in progress | 3 | €302 | €302 | = | 0.0% |
| Stocks | 30/36 | €302 | €302 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,869 | €136,919 | +€97,049 | +243.4% |
| Trade receivables | 40 | €17,615 | €126,336 | +€108,722 | +617.2% |
| Other amounts receivable | 41 | €22,255 | €10,582 | -€11,672 | -52.4% |
| Cash at bank and in hand | 54/58 | €930 | €41,917 | +€40,987 | +4405.7% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,231 | -€505 | -29.1% |
| Total equity and liabilities | 10/49 | €171,181 | €278,736 | +€107,555 | +62.8% |
| Equity | 10/15 | €42,741 | €85,162 | +€42,421 | +99.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €41,241 | €83,662 | +€42,421 | +102.9% |
| Distributable reserves | 133 | €41,241 | €83,662 | +€42,421 | +102.9% |
| Amounts payable | 17/49 | €128,440 | €193,573 | +€65,133 | +50.7% |
| Amounts payable after more than one year | 17 | €13,314 | €6,819 | -€6,495 | -48.8% |
| Financial debts | 170/4 | €13,314 | €6,819 | -€6,495 | -48.8% |
| Amounts payable within one year | 42/48 | €115,127 | €186,741 | +€71,614 | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €7,903 | €7,765 | -€138 | -1.7% |
| Trade debts | 44 | €12,309 | €74,142 | +€61,833 | +502.4% |
| Suppliers | 440/4 | €12,309 | €74,142 | +€61,833 | +502.4% |
| Taxes, remuneration and social security | 45 | €203 | €17,617 | +€17,415 | +8598.9% |
| Taxes | 450/3 | €203 | €17,617 | +€17,415 | +8598.9% |
| Other amounts payable | 47/48 | €94,712 | €87,217 | -€7,495 | -7.9% |
| Accrued charges and deferred income | 492/3 | - | €13 | +€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,577 | €34,002 | +€10,424 | +44.2% |
| Other operating charges | 640/8 | €694 | €916 | +€222 | +31.9% |
| Non-recurring operating charges | 66A | €40 | - | -€40 | |
| Gross operating margin | 9900 | €64,128 | €96,758 | +€32,630 | +50.9% |
| Operating profit (loss) | 9901 | €39,816 | €61,841 | +€22,024 | +55.3% |
| Financial income | 75/76B | €173 | €94 | -€80 | -46.0% |
| Recurring financial income | 75 | €173 | €94 | -€80 | -46.0% |
| Financial charges | 65/66B | €1,459 | €1,779 | +€321 | +22.0% |
| Recurring financial charges | 65 | €1,459 | €1,779 | +€321 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €38,531 | €60,155 | +€21,624 | +56.1% |
| Income taxes | 67/77 | €11,125 | €17,734 | +€6,609 | +59.4% |
| Profit (loss) for the period | 9904 | €27,406 | €42,421 | +€15,015 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,406 | €42,421 | +€15,015 | +54.8% |
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.