ASV & PARTNERS: 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 & PARTNERS
Largest movements
- Tangible fixed assets +€44,717
up €44,717 (+236%), from €18,937 to €63,654
of which Furniture and vehicles: +€43,004
- Cash -€19,762
down €19,762 (-22.3%), from €88,467 to €68,705
mainly Investment in fixed assets (net) (-€54,917) and Contributions, distributions and other (-€28,500)
- Receivables within one year -€1,946
down €1,946 (-62.0%), from €3,140 to €1,194
- Other debts +€26,000
up €26,000 (+1,040%), from €2,500 to €28,500
- Trade debts +€18,979
up €18,979 (+99.5%), from €19,072 to €38,051
- Reserves -€17,595
down €17,595 (-26.7%), from €65,907 to €48,312
- Profit (loss) carried forward -€3,476
no longer reported in 2025 (was €3,476)
- Gross operating margin +€7,729
up €7,729 (+50.0%), from €15,448 to €23,178
- Depreciation -€1,671
down €1,671 (-14.1%), from €11,871 to €10,200
- Taxes +€1,374
up €1,374 (+48.0%), from €2,860 to €4,234
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 | €111,585 | €134,593 | +€23,009 | +20.6% |
| Formation expenses | 20 | €1,041 | €1,041 | = | 0.0% |
| Fixed assets | 21/28 | €18,937 | €63,654 | +€44,717 | +236% |
| Tangible fixed assets | 22/27 | €18,937 | €63,654 | +€44,717 | +236% |
| Plant, machinery and equipment | 23 | €796 | €2,509 | +€1,713 | +215% |
| Furniture and vehicles | 24 | €18,141 | €61,145 | +€43,004 | +237% |
| Current assets | 29/58 | €91,607 | €69,899 | -€21,708 | -23.7% |
| Amounts receivable within one year | 40/41 | €3,140 | €1,194 | -€1,946 | -62.0% |
| Other amounts receivable | 41 | €3,140 | €1,194 | -€1,946 | -62.0% |
| Cash at bank and in hand | 54/58 | €88,467 | €68,705 | -€19,762 | -22.3% |
| Total equity and liabilities | 10/49 | €111,585 | €134,593 | +€23,009 | +20.6% |
| Equity | 10/15 | €87,983 | €66,912 | -€21,071 | -23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,907 | €48,312 | -€17,595 | -26.7% |
| Distributable reserves | 133 | €65,907 | €48,312 | -€17,595 | -26.7% |
| Profit (loss) carried forward | 14 | €3,476 | - | -€3,476 | |
| Amounts payable | 17/49 | €23,601 | €67,681 | +€44,080 | +187% |
| Amounts payable within one year | 42/48 | €21,572 | €66,684 | +€45,111 | +209% |
| Trade debts | 44 | €19,072 | €38,051 | +€18,979 | +99.5% |
| Suppliers | 440/4 | €19,072 | €38,051 | +€18,979 | +99.5% |
| Taxes, remuneration and social security | 45 | - | €133 | +€133 | |
| Remuneration and social security | 454/9 | - | €133 | +€133 | |
| Other amounts payable | 47/48 | €2,500 | €28,500 | +€26,000 | +1,040% |
| Accrued charges and deferred income | 492/3 | €2,029 | €997 | -€1,032 | -50.9% |
| Non-recurring operating income | 76A | - | €14,430 | +€14,430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,871 | €10,200 | -€1,671 | -14.1% |
| Other operating charges | 640/8 | €965 | €1,125 | +€159 | +16.5% |
| Gross operating margin | 9900 | €15,448 | €23,178 | +€7,729 | +50.0% |
| Operating profit (loss) | 9901 | €2,612 | €11,853 | +€9,241 | +354% |
| Financial income | 75/76B | €100 | €0 | -€100 | -100.0% |
| Recurring financial income | 75 | €100 | €0 | -€100 | -100.0% |
| Financial charges | 65/66B | €389 | €190 | -€199 | -51.1% |
| Recurring financial charges | 65 | €389 | €190 | -€199 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €2,324 | €11,663 | +€9,339 | +402% |
| Income taxes | 67/77 | €2,860 | €4,234 | +€1,374 | +48.0% |
| Profit (loss) for the period | 9904 | -€536 | €7,429 | +€7,965 | |
| Profit (loss) for the period to be appropriated | 9905 | -€536 | €7,429 | +€7,965 |
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 23 October 2026 via checked.be.