ASSWAT MANAGEMENT: 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.
ASSWAT MANAGEMENT
Largest movements
- Cash -€173,342
down €173,342 (-68.9%), from €251,450 to €78,107
mainly Contributions, distributions and other (-€310,000) and Debts after one year (-€212,804)
- Tangible fixed assets -€15,906
down €15,906 (-27.8%), from €57,231 to €41,326
- Other debts +€260,000
up €260,000 (+520%), from €50,000 to €310,000
- Reserves -€230,000
no longer reported in 2025 (was €230,000)
- Debts after one year -€212,804
down €212,804 (-42.1%), from €505,785 to €292,981
- Depreciation +€10,465
up €10,465 (+192%), from €5,440 to €15,906
- Financial income -€9,000
down €9,000 (-30.0%), from €30,000 to €21,000
- Gross operating margin -€5,579
down €5,579 (-5.6%), from €99,215 to €93,637
- Taxes -€2,797
down €2,797 (-12.6%), from €22,162 to €19,365
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 | €810,102 | €623,494 | -€186,609 | -23.0% |
| Fixed assets | 21/28 | €457,231 | €441,326 | -€15,906 | -3.5% |
| Tangible fixed assets | 22/27 | €57,231 | €41,326 | -€15,906 | -27.8% |
| Furniture and vehicles | 24 | €57,231 | €41,326 | -€15,906 | -27.8% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €352,871 | €182,168 | -€170,703 | -48.4% |
| Amounts receivable within one year | 40/41 | €349 | €3,635 | +€3,286 | +941% |
| Other amounts receivable | 41 | €349 | €3,635 | +€3,286 | +941% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €251,450 | €78,107 | -€173,342 | -68.9% |
| Deferred charges and accrued income | 490/1 | €1,072 | €425 | -€647 | -60.3% |
| Total equity and liabilities | 10/49 | €810,102 | €623,494 | -€186,609 | -23.0% |
| Equity | 10/15 | €252,156 | €20,212 | -€231,944 | -92.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €230,000 | - | -€230,000 | |
| Distributable reserves | 133 | €230,000 | - | -€230,000 | |
| Profit (loss) carried forward | 14 | €2,156 | €212 | -€1,944 | -90.2% |
| Amounts payable | 17/49 | €557,947 | €603,282 | +€45,335 | +8.1% |
| Amounts payable after more than one year | 17 | €505,785 | €292,981 | -€212,804 | -42.1% |
| Other amounts payable | 178/9 | €505,785 | €292,981 | -€212,804 | -42.1% |
| Amounts payable within one year | 42/48 | €52,162 | €310,301 | +€258,139 | +495% |
| Trade debts | 44 | - | €301 | +€301 | |
| Suppliers | 440/4 | - | €301 | +€301 | |
| Taxes, remuneration and social security | 45 | €2,162 | - | -€2,162 | |
| Taxes | 450/3 | €2,162 | - | -€2,162 | |
| Other amounts payable | 47/48 | €50,000 | €310,000 | +€260,000 | +520% |
| Non-recurring operating income | 76A | €1,311 | - | -€1,311 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,440 | €15,906 | +€10,465 | +192% |
| Other operating charges | 640/8 | €1,232 | €1,232 | -€1 | 0.0% |
| Gross operating margin | 9900 | €99,215 | €93,637 | -€5,579 | -5.6% |
| Operating profit (loss) | 9901 | €92,543 | €76,499 | -€16,043 | -17.3% |
| Financial income | 75/76B | €30,000 | €21,000 | -€9,000 | -30.0% |
| Recurring financial income | 75 | €30,000 | €21,000 | -€9,000 | -30.0% |
| Financial charges | 65/66B | €77 | €79 | +€2 | +2.6% |
| Recurring financial charges | 65 | €77 | €79 | +€2 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €122,466 | €97,421 | -€25,045 | -20.5% |
| Income taxes | 67/77 | €22,162 | €19,365 | -€2,797 | -12.6% |
| Profit (loss) for the period | 9904 | €100,304 | €78,056 | -€22,248 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €100,304 | €78,056 | -€22,248 | -22.2% |
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 25 October 2026 via checked.be.