ASV RAD: 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 RAD
Largest movements
- Deferred charges and accrued income +€93,680
up €93,680 (+35.4%), from €264,352 to €358,031
- Receivables within one year -€18,643
no longer reported in 2025 (was €18,643)
- Other debts +€331,249
up €331,249 (+156%), from €212,031 to €543,280
- Reserves -€289,982
down €289,982 (-87.3%), from €332,081 to €42,099
- Tax, wage and social debts +€82,885
up €82,885 (+3,016%), from €2,748 to €85,633
- Trade debts -€50,733
down €50,733 (-98.0%), from €51,766 to €1,033
- Gross operating margin +€144,022
up €144,022 (+31.6%), from €455,473 to €599,495
- Taxes +€43,382
up €43,382 (+40.8%), from €106,357 to €149,739
- Financial charges -€6,764
down €6,764 (-59.0%), from €11,465 to €4,701
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 | €606,627 | €680,545 | +€73,918 | +12.2% |
| Fixed assets | 21/28 | €5,834 | €2,995 | -€2,840 | -48.7% |
| Tangible fixed assets | 22/27 | €5,758 | €2,919 | -€2,840 | -49.3% |
| Plant, machinery and equipment | 23 | €5,758 | €2,919 | -€2,840 | -49.3% |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €600,792 | €677,550 | +€76,758 | +12.8% |
| Amounts receivable within one year | 40/41 | €18,643 | - | -€18,643 | |
| Other amounts receivable | 41 | €18,643 | - | -€18,643 | |
| Cash at bank and in hand | 54/58 | €317,797 | €319,519 | +€1,721 | +0.5% |
| Deferred charges and accrued income | 490/1 | €264,352 | €358,031 | +€93,680 | +35.4% |
| Total equity and liabilities | 10/49 | €606,627 | €680,545 | +€73,918 | +12.2% |
| Equity | 10/15 | €338,081 | €48,099 | -€289,982 | -85.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €332,081 | €42,099 | -€289,982 | -87.3% |
| Distributable reserves | 133 | €332,081 | €42,099 | -€289,982 | -87.3% |
| Amounts payable | 17/49 | €268,546 | €632,446 | +€363,901 | +136% |
| Amounts payable within one year | 42/48 | €266,546 | €629,946 | +€363,401 | +136% |
| Trade debts | 44 | €51,766 | €1,033 | -€50,733 | -98.0% |
| Suppliers | 440/4 | €51,766 | €1,033 | -€50,733 | -98.0% |
| Taxes, remuneration and social security | 45 | €2,748 | €85,633 | +€82,885 | +3,016% |
| Taxes | 450/3 | €2,748 | €85,633 | +€82,885 | +3,016% |
| Other amounts payable | 47/48 | €212,031 | €543,280 | +€331,249 | +156% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,500 | +€500 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,669 | €2,840 | +€170 | +6.4% |
| Other operating charges | 640/8 | €1,234 | €472 | -€763 | -61.8% |
| Gross operating margin | 9900 | €455,473 | €599,495 | +€144,022 | +31.6% |
| Operating profit (loss) | 9901 | €451,569 | €596,184 | +€144,614 | +32.0% |
| Financial income | 75/76B | - | €359 | +€359 | |
| Recurring financial income | 75 | - | €359 | +€359 | |
| Financial charges | 65/66B | €11,465 | €4,701 | -€6,764 | -59.0% |
| Recurring financial charges | 65 | €11,465 | €4,701 | -€6,764 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €440,104 | €591,841 | +€151,737 | +34.5% |
| Income taxes | 67/77 | €106,357 | €149,739 | +€43,382 | +40.8% |
| Profit (loss) for the period | 9904 | €333,747 | €442,102 | +€108,355 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €333,747 | €442,102 | +€108,355 | +32.5% |
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 16 October 2026 via checked.be.