ASTEL: 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.
ASTEL
Largest movements
- Cash +€160,214
up €160,214 (+125.8%), from €127,359 to €287,572
mainly Net result for the year (+€128,603) and Depreciation (+€125,596)
- Deferred charges and accrued income +€50,995
up €50,995 (+39.6%), from €128,871 to €179,866
- Intangible fixed assets -€48,517
down €48,517 (-18.2%), from €266,434 to €217,917
- Tangible fixed assets -€14,170
down €14,170 (-14.0%), from €101,281 to €87,111
of which Furniture and vehicles: -€18,914
- Reserves +€98,916
up €98,916 (+45.9%), from €215,585 to €314,501
- Trade debts +€51,197
up €51,197 (+96.4%), from €53,103 to €104,301
- Accrued charges and deferred income +€20,096
up €20,096 (+60.4%), from €33,263 to €53,358
- Other debts -€10,417
down €10,417 (-24.0%), from €43,477 to €33,059
- Debts after one year -€10,113
down €10,113 (-20.3%), from €49,779 to €39,666
- Gross operating margin +€71,111
up €71,111 (+20.6%), from €345,841 to €416,952
- Taxes +€23,661
up €23,661 (+80.9%), from €29,260 to €52,921
- Depreciation +€7,848
up €7,848 (+6.7%), from €117,748 to €125,596
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 | €682,873 | €826,830 | +€143,957 | +21.1% |
| Fixed assets | 21/28 | €367,715 | €305,028 | -€62,687 | -17.0% |
| Intangible fixed assets | 21 | €266,434 | €217,917 | -€48,517 | -18.2% |
| Tangible fixed assets | 22/27 | €101,281 | €87,111 | -€14,170 | -14.0% |
| Furniture and vehicles | 24 | €73,881 | €54,967 | -€18,914 | -25.6% |
| Other tangible fixed assets | 26 | €27,400 | €32,144 | +€4,744 | +17.3% |
| Current assets | 29/58 | €315,158 | €521,802 | +€206,644 | +65.6% |
| Amounts receivable within one year | 40/41 | €58,928 | €54,364 | -€4,564 | -7.7% |
| Trade receivables | 40 | €43,246 | €28,043 | -€15,202 | -35.2% |
| Other amounts receivable | 41 | €15,682 | €26,320 | +€10,638 | +67.8% |
| Cash at bank and in hand | 54/58 | €127,359 | €287,572 | +€160,214 | +125.8% |
| Deferred charges and accrued income | 490/1 | €128,871 | €179,866 | +€50,995 | +39.6% |
| Total equity and liabilities | 10/49 | €682,873 | €826,830 | +€143,957 | +21.1% |
| Equity | 10/15 | €429,437 | €522,728 | +€93,291 | +21.7% |
| Contributions | 10/11 | €89,000 | €89,000 | = | 0.0% |
| Reserves | 13 | €215,585 | €314,501 | +€98,916 | +45.9% |
| Distributable reserves | 133 | €215,585 | €314,501 | +€98,916 | +45.9% |
| Profit (loss) carried forward | 14 | €109,102 | €109,102 | = | 0.0% |
| Investment grants | 15 | €15,750 | €10,125 | -€5,625 | -35.7% |
| Provisions and deferred taxes | 16 | €5,250 | €3,375 | -€1,875 | -35.7% |
| Deferred taxes | 168 | €5,250 | €3,375 | -€1,875 | -35.7% |
| Amounts payable | 17/49 | €248,186 | €300,727 | +€52,541 | +21.2% |
| Amounts payable after more than one year | 17 | €49,779 | €39,666 | -€10,113 | -20.3% |
| Financial debts | 170/4 | €49,779 | €39,666 | -€10,113 | -20.3% |
| Amounts payable within one year | 42/48 | €165,144 | €207,702 | +€42,558 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €9,725 | €10,113 | +€388 | +4.0% |
| Trade debts | 44 | €53,103 | €104,301 | +€51,197 | +96.4% |
| Suppliers | 440/4 | €53,103 | €104,301 | +€51,197 | +96.4% |
| Taxes, remuneration and social security | 45 | €58,840 | €60,229 | +€1,390 | +2.4% |
| Taxes | 450/3 | €33,281 | €33,442 | +€160 | +0.5% |
| Remuneration and social security | 454/9 | €25,558 | €26,788 | +€1,230 | +4.8% |
| Other amounts payable | 47/48 | €43,477 | €33,059 | -€10,417 | -24.0% |
| Accrued charges and deferred income | 492/3 | €33,263 | €53,358 | +€20,096 | +60.4% |
| Remuneration, social security and pensions | 62 | €115,627 | €114,443 | -€1,184 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,748 | €125,596 | +€7,848 | +6.7% |
| Other operating charges | 640/8 | €1,762 | €380 | -€1,382 | -78.4% |
| Gross operating margin | 9900 | €345,841 | €416,952 | +€71,111 | +20.6% |
| Operating profit (loss) | 9901 | €110,705 | €176,533 | +€65,829 | +59.5% |
| Financial income | 75/76B | €5,660 | €5,792 | +€132 | +2.3% |
| Recurring financial income | 75 | €5,660 | €5,792 | +€132 | +2.3% |
| Financial charges | 65/66B | €2,961 | €2,676 | -€284 | -9.6% |
| Recurring financial charges | 65 | €2,961 | €2,676 | -€284 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €113,404 | €179,649 | +€66,245 | +58.4% |
| Transfer from deferred taxes | 780 | €1,875 | €1,875 | = | 0.0% |
| Income taxes | 67/77 | €29,260 | €52,921 | +€23,661 | +80.9% |
| Profit (loss) for the period | 9904 | €86,019 | €128,603 | +€42,584 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €86,019 | €128,603 | +€42,584 | +49.5% |
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 10 October 2026 via checked.be.