ASVB: 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.
ASVB
Largest movements
- Cash +€69,894
up €69,894 (+30.9%), from €226,344 to €296,238
mainly Net result for the year (+€95,868) and Tax, wage and social debts (+€38,179)
- Stocks and contracts -€32,862
down €32,862 (-45.3%), from €72,590 to €39,728
- Receivables within one year +€13,410
up €13,410 (+72.4%), from €18,532 to €31,941
of which Trade receivables: +€8,460
- Profit (loss) carried forward +€60,868
up €60,868, from -€38,498 to €22,370
- Tax, wage and social debts +€38,179
up €38,179 (+59.9%), from €63,752 to €101,930
of which Taxes: +€30,210
- Advances received -€27,512
down €27,512 (-19.5%), from €141,026 to €113,514
- Trade debts -€19,972
down €19,972 (-15.1%), from €132,239 to €112,267
- Accrued charges and deferred income -€5,027
no longer reported in 2025 (was €5,027)
- Gross operating margin +€62,544
up €62,544 (+25.3%), from €246,841 to €309,385
- Taxes +€19,611
up €19,611 (+195.1%), from €10,050 to €29,661
- Staff costs +€10,331
up €10,331 (+6.4%), from €160,290 to €170,620
- Other operating charges -€5,183
down €5,183 (-66.4%), from €7,805 to €2,622
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 | €328,116 | €378,532 | +€50,416 | +15.4% |
| Fixed assets | 21/28 | €6,837 | €5,265 | -€1,572 | -23.0% |
| Tangible fixed assets | 22/27 | €6,837 | €5,040 | -€1,797 | -26.3% |
| Furniture and vehicles | 24 | €6,837 | €5,040 | -€1,797 | -26.3% |
| Financial fixed assets | 28 | - | €225 | +€225 | |
| Current assets | 29/58 | €321,279 | €373,267 | +€51,988 | +16.2% |
| Stocks and contracts in progress | 3 | €72,590 | €39,728 | -€32,862 | -45.3% |
| Stocks | 30/36 | €72,590 | €39,728 | -€32,862 | -45.3% |
| Amounts receivable within one year | 40/41 | €18,532 | €31,941 | +€13,410 | +72.4% |
| Trade receivables | 40 | €2,133 | €10,593 | +€8,460 | +396.6% |
| Other amounts receivable | 41 | €16,398 | €21,348 | +€4,950 | +30.2% |
| Cash at bank and in hand | 54/58 | €226,344 | €296,238 | +€69,894 | +30.9% |
| Deferred charges and accrued income | 490/1 | €3,813 | €5,359 | +€1,546 | +40.5% |
| Total equity and liabilities | 10/49 | €328,116 | €378,532 | +€50,416 | +15.4% |
| Equity | 10/15 | -€19,498 | €41,370 | +€60,868 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,498 | €22,370 | +€60,868 | |
| Amounts payable | 17/49 | €347,614 | €337,161 | -€10,452 | -3.0% |
| Amounts payable within one year | 42/48 | €342,587 | €337,161 | -€5,426 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €5,088 | €5,079 | -€10 | -0.2% |
| Trade debts | 44 | €132,239 | €112,267 | -€19,972 | -15.1% |
| Suppliers | 440/4 | €132,239 | €112,267 | -€19,972 | -15.1% |
| Advances received on contracts in progress | 46 | €141,026 | €113,514 | -€27,512 | -19.5% |
| Taxes, remuneration and social security | 45 | €63,752 | €101,930 | +€38,179 | +59.9% |
| Taxes | 450/3 | €29,752 | €59,962 | +€30,210 | +101.5% |
| Remuneration and social security | 454/9 | €33,999 | €41,968 | +€7,969 | +23.4% |
| Other amounts payable | 47/48 | €481 | €4,371 | +€3,890 | +808.2% |
| Accrued charges and deferred income | 492/3 | €5,027 | - | -€5,027 | |
| Remuneration, social security and pensions | 62 | €160,290 | €170,620 | +€10,331 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,087 | €4,213 | -€873 | -17.2% |
| Other operating charges | 640/8 | €7,805 | €2,622 | -€5,183 | -66.4% |
| Gross operating margin | 9900 | €246,841 | €309,385 | +€62,544 | +25.3% |
| Operating profit (loss) | 9901 | €73,659 | €131,929 | +€58,270 | +79.1% |
| Financial income | 75/76B | €98 | €2,229 | +€2,131 | +2168.2% |
| Recurring financial income | 75 | €98 | €2,229 | +€2,131 | +2168.2% |
| Financial charges | 65/66B | €7,418 | €8,629 | +€1,211 | +16.3% |
| Recurring financial charges | 65 | €7,418 | €8,629 | +€1,211 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €66,340 | €125,529 | +€59,189 | +89.2% |
| Income taxes | 67/77 | €10,050 | €29,661 | +€19,611 | +195.1% |
| Profit (loss) for the period | 9904 | €56,290 | €95,868 | +€39,578 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,290 | €95,868 | +€39,578 | +70.3% |
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 28 September 2026 via checked.be.