AST Advisors: 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 Advisors
Largest movements
- Financial fixed assets +€417,016
up €417,016 (+34.9%), from €1.2m to €1.6m
- Receivables within one year -€67,982
down €67,982 (-57.8%), from €117,637 to €49,655
of which Trade receivables: -€63,734
- Tangible fixed assets -€49,762
down €49,762 (-3.1%), from €1.6m to €1.5m
of which Land and buildings: -€44,844
- Profit (loss) carried forward +€271,174
up €271,174 (+24.7%), from €1.1m to €1.4m
- Other debts +€270,128
up €270,128 (+772%), from €34,976 to €305,104
- Reserves -€256,814
down €256,814 (-99.2%), from €258,814 to €2,000
of which Distributable reserves: -€256,814
- Debts after one year -€59,849
down €59,849 (-4.4%), from €1.4m to €1.3m
- Tax, wage and social debts +€37,438
up €37,438 (+26.6%), from €140,799 to €178,237
- Gross operating margin -€76,813
down €76,813 (-13.6%), from €566,142 to €489,329
- Financial charges +€38,583
up €38,583 (+184%), from €21,009 to €59,592
- Taxes -€28,627
down €28,627 (-22.3%), from €128,537 to €99,910
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 | €2,960,391 | €3,246,720 | +€286,329 | +9.7% |
| Fixed assets | 21/28 | €2,790,674 | €3,157,928 | +€367,254 | +13.2% |
| Tangible fixed assets | 22/27 | €1,596,211 | €1,546,449 | -€49,762 | -3.1% |
| Land and buildings | 22 | €1,583,277 | €1,538,433 | -€44,844 | -2.8% |
| Plant, machinery and equipment | 23 | €598 | €124 | -€474 | -79.3% |
| Furniture and vehicles | 24 | €3,735 | €2,238 | -€1,497 | -40.1% |
| Other tangible fixed assets | 26 | €8,601 | €5,654 | -€2,947 | -34.3% |
| Financial fixed assets | 28 | €1,194,463 | €1,611,479 | +€417,016 | +34.9% |
| Current assets | 29/58 | €169,717 | €88,792 | -€80,925 | -47.7% |
| Amounts receivable within one year | 40/41 | €117,637 | €49,655 | -€67,982 | -57.8% |
| Trade receivables | 40 | €113,389 | €49,655 | -€63,734 | -56.2% |
| Other amounts receivable | 41 | €4,248 | - | -€4,248 | |
| Cash at bank and in hand | 54/58 | €52,080 | €39,085 | -€12,995 | -25.0% |
| Deferred charges and accrued income | 490/1 | - | €52 | +€52 | |
| Total equity and liabilities | 10/49 | €2,960,391 | €3,246,720 | +€286,329 | +9.7% |
| Equity | 10/15 | €1,375,766 | €1,390,126 | +€14,360 | +1.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €258,814 | €2,000 | -€256,814 | -99.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €256,814 | - | -€256,814 | |
| Profit (loss) carried forward | 14 | €1,096,952 | €1,368,126 | +€271,174 | +24.7% |
| Amounts payable | 17/49 | €1,584,625 | €1,856,594 | +€271,969 | +17.2% |
| Amounts payable after more than one year | 17 | €1,375,000 | €1,315,151 | -€59,849 | -4.4% |
| Financial debts | 170/4 | €1,375,000 | €1,315,151 | -€59,849 | -4.4% |
| Amounts payable within one year | 42/48 | €209,625 | €541,426 | +€331,801 | +158% |
| Current portion of amounts payable after more than one year | 42 | €20,426 | €56,603 | +€36,177 | +177% |
| Trade debts | 44 | €13,424 | €1,482 | -€11,942 | -89.0% |
| Suppliers | 440/4 | €13,424 | €1,482 | -€11,942 | -89.0% |
| Taxes, remuneration and social security | 45 | €140,799 | €178,237 | +€37,438 | +26.6% |
| Taxes | 450/3 | €140,799 | €178,237 | +€37,438 | +26.6% |
| Other amounts payable | 47/48 | €34,976 | €305,104 | +€270,128 | +772% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Remuneration, social security and pensions | 62 | €1,575 | €1,424 | -€151 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,525 | €49,762 | +€237 | +0.5% |
| Other operating charges | 640/8 | €11,130 | €7,467 | -€3,663 | -32.9% |
| Gross operating margin | 9900 | €566,142 | €489,329 | -€76,813 | -13.6% |
| Operating profit (loss) | 9901 | €503,912 | €430,676 | -€73,236 | -14.5% |
| Financial income | 75/76B | €4,826 | - | -€4,826 | |
| Recurring financial income | 75 | €4,826 | - | -€4,826 | |
| Financial charges | 65/66B | €21,009 | €59,592 | +€38,583 | +184% |
| Recurring financial charges | 65 | €21,009 | €59,592 | +€38,583 | +184% |
| Profit (loss) for the period before taxes | 9903 | €487,729 | €371,084 | -€116,645 | -23.9% |
| Income taxes | 67/77 | €128,537 | €99,910 | -€28,627 | -22.3% |
| Profit (loss) for the period | 9904 | €359,192 | €271,174 | -€88,018 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €359,192 | €271,174 | -€88,018 | -24.5% |
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 17 October 2026 via checked.be.