ASTER: 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.
ASTER
Largest movements
- Tangible fixed assets +€82,199
up €82,199 (+53.4%), from €154,067 to €236,267
of which Furniture and vehicles: +€88,233
- Receivables within one year +€33,734
up €33,734 (+135%), from €25,024 to €58,759
of which Trade receivables: +€30,413
- Cash -€18,606
down €18,606 (-58.3%), from €31,907 to €13,301
mainly Investment in fixed assets (net) (-€111,095) and Other debts (-€34,709)
- Receivables after one year +€13,475
up €13,475 (+6.9%), from €196,224 to €209,699
- Deferred charges and accrued income +€8,963
up €8,963 (+23.7%), from €37,833 to €46,795
- Debts after one year +€71,891
new in 2025: €71,891
- Reserves +€66,393
up €66,393 (+15.7%), from €423,999 to €490,392
- Other debts -€34,709
down €34,709 (-84.1%), from €41,270 to €6,562
- Current portion of long-term debt +€20,730
up €20,730, from €0 to €20,730
- Gross operating margin -€48,477
down €48,477 (-29.4%), from €164,898 to €116,421
- Taxes -€20,227
down €20,227 (-43.8%), from €46,148 to €25,921
- Depreciation +€17,005
up €17,005 (+143%), from €11,891 to €28,896
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 | €515,900 | €635,665 | +€119,765 | +23.2% |
| Fixed assets | 21/28 | €224,912 | €307,111 | +€82,199 | +36.5% |
| Tangible fixed assets | 22/27 | €154,067 | €236,267 | +€82,199 | +53.4% |
| Land and buildings | 22 | €146,260 | €140,227 | -€6,034 | -4.1% |
| Furniture and vehicles | 24 | €7,807 | €96,040 | +€88,233 | +1,130% |
| Financial fixed assets | 28 | €70,845 | €70,845 | = | 0.0% |
| Current assets | 29/58 | €290,988 | €328,553 | +€37,566 | +12.9% |
| Amounts receivable after more than one year | 29 | €196,224 | €209,699 | +€13,475 | +6.9% |
| Other amounts receivable | 291 | €196,224 | €209,699 | +€13,475 | +6.9% |
| Amounts receivable within one year | 40/41 | €25,024 | €58,759 | +€33,734 | +135% |
| Trade receivables | 40 | €22,627 | €53,040 | +€30,413 | +134% |
| Other amounts receivable | 41 | €2,397 | €5,718 | +€3,321 | +139% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €31,907 | €13,301 | -€18,606 | -58.3% |
| Deferred charges and accrued income | 490/1 | €37,833 | €46,795 | +€8,963 | +23.7% |
| Total equity and liabilities | 10/49 | €515,900 | €635,665 | +€119,765 | +23.2% |
| Equity | 10/15 | €442,599 | €508,992 | +€66,393 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €423,999 | €490,392 | +€66,393 | +15.7% |
| Distributable reserves | 133 | €423,999 | €490,392 | +€66,393 | +15.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €73,301 | €126,673 | +€53,372 | +72.8% |
| Amounts payable after more than one year | 17 | - | €71,891 | +€71,891 | |
| Financial debts | 170/4 | - | €71,891 | +€71,891 | |
| Amounts payable within one year | 42/48 | €70,925 | €54,782 | -€16,144 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €20,730 | +€20,730 | |
| Trade debts | 44 | €2,663 | €839 | -€1,823 | -68.5% |
| Suppliers | 440/4 | €2,663 | €839 | -€1,823 | -68.5% |
| Taxes, remuneration and social security | 45 | €26,993 | €26,651 | -€341 | -1.3% |
| Taxes | 450/3 | €26,993 | €26,651 | -€341 | -1.3% |
| Other amounts payable | 47/48 | €41,270 | €6,562 | -€34,709 | -84.1% |
| Accrued charges and deferred income | 492/3 | €2,376 | €0 | -€2,376 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,891 | €28,896 | +€17,005 | +143% |
| Other operating charges | 640/8 | €1,336 | €1,484 | +€148 | +11.1% |
| Gross operating margin | 9900 | €164,898 | €116,421 | -€48,477 | -29.4% |
| Operating profit (loss) | 9901 | €151,671 | €86,041 | -€65,630 | -43.3% |
| Financial income | 75/76B | €8,192 | €9,282 | +€1,090 | +13.3% |
| Recurring financial income | 75 | €8,192 | €9,282 | +€1,090 | +13.3% |
| Financial charges | 65/66B | €3,259 | €3,009 | -€250 | -7.7% |
| Recurring financial charges | 65 | €3,259 | €3,009 | -€250 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €156,605 | €92,315 | -€64,290 | -41.1% |
| Income taxes | 67/77 | €46,148 | €25,921 | -€20,227 | -43.8% |
| Profit (loss) for the period | 9904 | €110,456 | €66,393 | -€44,063 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €110,456 | €66,393 | -€44,063 | -39.9% |
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 19 October 2026 via checked.be.