ASV CONSTRUCT: 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.
ASV CONSTRUCT
Largest movements
- Financial fixed assets +€600,000
new in 2025: €600,000
- Receivables within one year +€314,262
up €314,262 (+105%), from €299,188 to €613,451
of which Trade receivables: +€303,068
- Cash -€28,741
down €28,741 (-87.5%), from €32,837 to €4,095
mainly Investment in fixed assets (net) (-€633,121) and Receivables within one year (-€314,262)
- Tangible fixed assets +€21,602
up €21,602 (+14.0%), from €154,046 to €175,649
of which Furniture and vehicles: +€32,321
- Deferred charges and accrued income +€20,121
up €20,121 (+204%), from €9,860 to €29,981
- Debts after one year +€467,857
up €467,857 (+478%), from €97,931 to €565,788
- Trade debts +€284,484
up €284,484 (+2,011%), from €14,143 to €298,627
- Other debts +€77,185
up €77,185, from €0 to €77,185
- Current portion of long-term debt +€62,375
up €62,375 (+767%), from €8,128 to €70,503
- Reserves +€24,113
up €24,113 (+7.6%), from €318,711 to €342,824
of which Distributable reserves: +€24,113
- Gross operating margin +€177,229
up €177,229 (+29.0%), from €610,837 to €788,065
- Staff costs +€159,716
up €159,716 (+31.6%), from €505,104 to €664,820
- Write-downs +€17,441
up €17,441 (+49.8%), from €35,000 to €52,441
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 | €495,931 | €1,423,175 | +€927,244 | +187% |
| Fixed assets | 21/28 | €154,046 | €775,649 | +€621,602 | +404% |
| Tangible fixed assets | 22/27 | €154,046 | €175,649 | +€21,602 | +14.0% |
| Land and buildings | 22 | €142,277 | €135,197 | -€7,080 | -5.0% |
| Plant, machinery and equipment | 23 | €10,833 | €7,194 | -€3,639 | -33.6% |
| Furniture and vehicles | 24 | €937 | €33,258 | +€32,321 | +3,451% |
| Financial fixed assets | 28 | - | €600,000 | +€600,000 | |
| Current assets | 29/58 | €341,885 | €647,527 | +€305,642 | +89.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €299,188 | €613,451 | +€314,262 | +105% |
| Trade receivables | 40 | €262,292 | €565,360 | +€303,068 | +116% |
| Other amounts receivable | 41 | €36,896 | €48,091 | +€11,194 | +30.3% |
| Cash at bank and in hand | 54/58 | €32,837 | €4,095 | -€28,741 | -87.5% |
| Deferred charges and accrued income | 490/1 | €9,860 | €29,981 | +€20,121 | +204% |
| Total equity and liabilities | 10/49 | €495,931 | €1,423,175 | +€927,244 | +187% |
| Equity | 10/15 | €320,911 | €345,024 | +€24,113 | +7.5% |
| Contributions | 10/11 | €2,200 | €2,200 | = | 0.0% |
| Reserves | 13 | €318,711 | €342,824 | +€24,113 | +7.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €318,711 | €342,824 | +€24,113 | +7.6% |
| Amounts payable | 17/49 | €175,020 | €1,078,151 | +€903,132 | +516% |
| Amounts payable after more than one year | 17 | €97,931 | €565,788 | +€467,857 | +478% |
| Financial debts | 170/4 | €97,931 | €565,788 | +€467,857 | +478% |
| Amounts payable within one year | 42/48 | €77,088 | €512,363 | +€435,275 | +565% |
| Current portion of amounts payable after more than one year | 42 | €8,128 | €70,503 | +€62,375 | +767% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €14,143 | €298,627 | +€284,484 | +2,011% |
| Suppliers | 440/4 | €14,143 | €298,627 | +€284,484 | +2,011% |
| Taxes, remuneration and social security | 45 | €54,817 | €66,048 | +€11,230 | +20.5% |
| Taxes | 450/3 | €34,796 | €49,859 | +€15,062 | +43.3% |
| Remuneration and social security | 454/9 | €20,021 | €16,189 | -€3,832 | -19.1% |
| Other amounts payable | 47/48 | €0 | €77,185 | +€77,185 | |
| Non-recurring operating income | 76A | €6 | - | -€6 | |
| Remuneration, social security and pensions | 62 | €505,104 | €664,820 | +€159,716 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,963 | €11,519 | -€2,444 | -17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,000 | €52,441 | +€17,441 | +49.8% |
| Other operating charges | 640/8 | €8,970 | €8,273 | -€698 | -7.8% |
| Gross operating margin | 9900 | €610,837 | €788,065 | +€177,229 | +29.0% |
| Operating profit (loss) | 9901 | €47,799 | €51,013 | +€3,214 | +6.7% |
| Financial income | 75/76B | - | €1,216 | +€1,216 | |
| Recurring financial income | 75 | - | €1,216 | +€1,216 | |
| Financial charges | 65/66B | €13,209 | €13,796 | +€586 | +4.4% |
| Recurring financial charges | 65 | €13,209 | €13,796 | +€586 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €34,590 | €38,434 | +€3,844 | +11.1% |
| Income taxes | 67/77 | €8,262 | €14,321 | +€6,059 | +73.3% |
| Profit (loss) for the period | 9904 | €26,328 | €24,113 | -€2,215 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,328 | €24,113 | -€2,215 | -8.4% |
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 20 October 2026 via checked.be.