AST: 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.
AST
Largest movements
- Cash +€89,508
up €89,508 (+160%), from €55,968 to €145,477
mainly Net result for the year (+€46,913) and Depreciation (+€33,906)
- Receivables within one year -€16,825
down €16,825 (-66.2%), from €25,417 to €8,591
of which Trade receivables: -€20,353
- Tangible fixed assets +€11,986
up €11,986 (+22.8%), from €52,471 to €64,457
of which Plant, machinery and equipment: +€12,854
- Profit (loss) carried forward +€46,913
up €46,913 (+133%), from €35,390 to €82,304
- Trade debts +€19,215
new in 2025: €19,215
- Debts after one year +€12,469
new in 2025: €12,469
- Current portion of long-term debt +€4,358
up €4,358 (+764%), from €571 to €4,929
- Other debts +€3,944
up €3,944 (+4.7%), from €84,577 to €88,521
- Purchases and services +€121,543
up €121,543 (+77.6%), from €156,634 to €278,176
- Gross operating margin +€54,724
up €54,724 (+121%), from €45,189 to €99,913
- Taxes +€11,971
up €11,971 (+263%), from €4,550 to €16,521
- Depreciation +€4,569
up €4,569 (+15.6%), from €29,337 to €33,906
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 | €136,087 | €222,371 | +€86,284 | +63.4% |
| Fixed assets | 21/28 | €52,471 | €64,457 | +€11,986 | +22.8% |
| Tangible fixed assets | 22/27 | €52,471 | €64,457 | +€11,986 | +22.8% |
| Land and buildings | 22 | €739 | €370 | -€370 | -50.0% |
| Plant, machinery and equipment | 23 | €9,717 | €22,571 | +€12,854 | +132% |
| Furniture and vehicles | 24 | €30,566 | €32,329 | +€1,763 | +5.8% |
| Other tangible fixed assets | 26 | €11,449 | €9,187 | -€2,261 | -19.8% |
| Current assets | 29/58 | €83,616 | €157,914 | +€74,297 | +88.9% |
| Amounts receivable within one year | 40/41 | €25,417 | €8,591 | -€16,825 | -66.2% |
| Trade receivables | 40 | €20,353 | - | -€20,353 | |
| Other amounts receivable | 41 | €5,064 | €8,591 | +€3,528 | +69.7% |
| Cash at bank and in hand | 54/58 | €55,968 | €145,477 | +€89,508 | +160% |
| Deferred charges and accrued income | 490/1 | €2,232 | €3,846 | +€1,614 | +72.3% |
| Total equity and liabilities | 10/49 | €136,087 | €222,371 | +€86,284 | +63.4% |
| Equity | 10/15 | €49,650 | €96,564 | +€46,913 | +94.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,390 | €82,304 | +€46,913 | +133% |
| Amounts payable | 17/49 | €86,437 | €125,807 | +€39,370 | +45.5% |
| Amounts payable after more than one year | 17 | - | €12,469 | +€12,469 | |
| Financial debts | 170/4 | - | €12,469 | +€12,469 | |
| Amounts payable within one year | 42/48 | €86,437 | €113,338 | +€26,901 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | €571 | €4,929 | +€4,358 | +764% |
| Trade debts | 44 | - | €19,215 | +€19,215 | |
| Suppliers | 440/4 | - | €19,215 | +€19,215 | |
| Taxes, remuneration and social security | 45 | €1,290 | €674 | -€616 | -47.8% |
| Taxes | 450/3 | €1,290 | €674 | -€616 | -47.8% |
| Other amounts payable | 47/48 | €84,577 | €88,521 | +€3,944 | +4.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €156,634 | €278,176 | +€121,543 | +77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,337 | €33,906 | +€4,569 | +15.6% |
| Other operating charges | 640/8 | €2,556 | €1,859 | -€697 | -27.3% |
| Gross operating margin | 9900 | €45,189 | €99,913 | +€54,724 | +121% |
| Operating profit (loss) | 9901 | €13,295 | €64,148 | +€50,852 | +382% |
| Financial income | 75/76B | €151 | €6 | -€145 | -96.1% |
| Recurring financial income | 75 | €151 | €6 | -€145 | -96.1% |
| Financial charges | 65/66B | €244 | €719 | +€476 | +195% |
| Recurring financial charges | 65 | €244 | €719 | +€476 | +195% |
| Profit (loss) for the period before taxes | 9903 | €13,203 | €63,434 | +€50,231 | +380% |
| Income taxes | 67/77 | €4,550 | €16,521 | +€11,971 | +263% |
| Profit (loss) for the period | 9904 | €8,653 | €46,913 | +€38,261 | +442% |
| Profit (loss) for the period to be appropriated | 9905 | €8,653 | €46,913 | +€38,261 | +442% |
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 13 October 2026 via checked.be.