ASTERTHE: what changed
Two fiscal 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.
ASTERTHE
Largest movements
- Tangible fixed assets -€33,162
down €33,162 (-7.0%), from €476,329 to €443,167
- Profit (loss) carried forward +€41,748
up €41,748 (+8.2%), from -€506,148 to -€464,401
- Debts after one year -€39,771
down €39,771 (-6.9%), from €580,274 to €540,503
- Other debts -€27,142
down €27,142 (-31.3%), from €86,646 to €59,504
- Reserves -€8,889
down €8,889 (-23.3%), from €38,220 to €29,331
of which Distributable reserves: -€6,600
- Gross operating margin +€34,844
up €34,844 (+90.3%), from €38,574 to €73,418
- Financial charges -€2,880
down €2,880 (-30.9%), from €9,330 to €6,450
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 | €476,418 | €445,541 | -€30,877 | -6.5% |
| Fixed assets | 21/28 | €476,329 | €443,167 | -€33,162 | -7.0% |
| Tangible fixed assets | 22/27 | €476,329 | €443,167 | -€33,162 | -7.0% |
| Land and buildings | 22 | €476,329 | €443,167 | -€33,162 | -7.0% |
| Current assets | 29/58 | €89 | €2,374 | +€2,285 | +2578.9% |
| Amounts receivable within one year | 40/41 | - | €2,286 | +€2,286 | |
| Trade receivables | 40 | - | €2,286 | +€2,286 | |
| Cash at bank and in hand | 54/58 | €8 | €4 | -€4 | -53.3% |
| Deferred charges and accrued income | 490/1 | €81 | €85 | +€3 | +4.2% |
| Total equity and liabilities | 10/49 | €476,418 | €445,541 | -€30,877 | -6.5% |
| Equity | 10/15 | -€249,328 | -€216,470 | +€32,859 | +13.2% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Capital | 10 | €218,600 | €218,600 | = | 0.0% |
| Issued capital | 100 | €218,600 | €218,600 | = | 0.0% |
| Reserves | 13 | €38,220 | €29,331 | -€8,889 | -23.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,760 | €27,471 | -€2,289 | -7.7% |
| Distributable reserves | 133 | €6,600 | - | -€6,600 | |
| Profit (loss) carried forward | 14 | -€506,148 | -€464,401 | +€41,748 | +8.2% |
| Provisions and deferred taxes | 16 | €9,920 | €9,157 | -€763 | -7.7% |
| Deferred taxes | 168 | €9,920 | €9,157 | -€763 | -7.7% |
| Amounts payable | 17/49 | €715,826 | €652,854 | -€62,972 | -8.8% |
| Amounts payable after more than one year | 17 | €580,274 | €540,503 | -€39,771 | -6.9% |
| Financial debts | 170/4 | €580,274 | €540,503 | -€39,771 | -6.9% |
| Amounts payable within one year | 42/48 | €135,552 | €112,351 | -€23,202 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €38,616 | €39,737 | +€1,121 | +2.9% |
| Trade debts | 44 | - | €220 | +€220 | |
| Suppliers | 440/4 | - | €220 | +€220 | |
| Taxes, remuneration and social security | 45 | €10,291 | €12,890 | +€2,599 | +25.3% |
| Taxes | 450/3 | €10,291 | €12,890 | +€2,599 | +25.3% |
| Other amounts payable | 47/48 | €86,646 | €59,504 | -€27,142 | -31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,162 | €33,162 | = | 0.0% |
| Other operating charges | 640/8 | €1,658 | €1,710 | +€53 | +3.2% |
| Gross operating margin | 9900 | €38,574 | €73,418 | +€34,844 | +90.3% |
| Operating profit (loss) | 9901 | €3,755 | €38,545 | +€34,791 | +926.6% |
| Financial charges | 65/66B | €9,330 | €6,450 | -€2,880 | -30.9% |
| Recurring financial charges | 65 | €9,330 | €6,450 | -€2,880 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,575 | €32,096 | +€37,671 | |
| Transfer from deferred taxes | 780 | €763 | €763 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€4,812 | €32,859 | +€37,671 | |
| Transfer from tax-exempt reserves | 789 | €2,289 | €2,289 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,523 | €35,148 | +€37,671 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.