ASVE: 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.
ASVE
Largest movements
- Tangible fixed assets +€21,260
up €21,260 (+93.9%), from €22,643 to €43,903
of which Plant, machinery and equipment: +€17,126
- Stocks and contracts -€11,250
down €11,250 (-27.4%), from €41,034 to €29,784
- Receivables within one year +€9,533
up €9,533 (+931.0%), from €1,024 to €10,557
of which Other amounts receivable: +€10,006
- Cash +€7,793
up €7,793 (+26.1%), from €29,873 to €37,666
mainly Net result for the year (+€29,704) and Tax, wage and social debts (+€14,176)
- Financial fixed assets +€4,500
new in 2025: €4,500
- Reserves +€29,704
up €29,704 (+367.2%), from €8,089 to €37,794
- Tax, wage and social debts +€14,176
up €14,176 (+96.5%), from €14,696 to €28,872
- Debts after one year -€13,915
down €13,915 (-30.1%), from €46,247 to €32,332
- Trade debts +€1,598
up €1,598 (+16.1%), from €9,900 to €11,498
- Gross operating margin +€36,498
up €36,498 (+219.2%), from €16,652 to €53,150
- Write-downs +€14,119
up €14,119, from -€3,898 to €10,221
- Taxes +€5,251
up €5,251 (+180.3%), from €2,911 to €8,162
- Staff costs -€1,862
down €1,862 (-81.5%), from €2,283 to €421
- Depreciation +€1,569
up €1,569 (+47.6%), from €3,294 to €4,863
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 | €94,574 | €126,410 | +€31,836 | +33.7% |
| Fixed assets | 21/28 | €22,643 | €48,403 | +€25,760 | +113.8% |
| Tangible fixed assets | 22/27 | €22,643 | €43,903 | +€21,260 | +93.9% |
| Plant, machinery and equipment | 23 | €22,489 | €39,616 | +€17,126 | +76.2% |
| Furniture and vehicles | 24 | €154 | €4,288 | +€4,133 | +2677.8% |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €71,931 | €78,007 | +€6,076 | +8.4% |
| Stocks and contracts in progress | 3 | €41,034 | €29,784 | -€11,250 | -27.4% |
| Stocks | 30/36 | €41,034 | €29,784 | -€11,250 | -27.4% |
| Amounts receivable within one year | 40/41 | €1,024 | €10,557 | +€9,533 | +931.0% |
| Trade receivables | 40 | €473 | - | -€473 | |
| Other amounts receivable | 41 | €551 | €10,557 | +€10,006 | +1816.5% |
| Cash at bank and in hand | 54/58 | €29,873 | €37,666 | +€7,793 | +26.1% |
| Total equity and liabilities | 10/49 | €94,574 | €126,410 | +€31,836 | +33.7% |
| Equity | 10/15 | €10,089 | €39,794 | +€29,704 | +294.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €8,089 | €37,794 | +€29,704 | +367.2% |
| Distributable reserves | 133 | €8,089 | €37,794 | +€29,704 | +367.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €84,485 | €86,616 | +€2,132 | +2.5% |
| Amounts payable after more than one year | 17 | €46,247 | €32,332 | -€13,915 | -30.1% |
| Financial debts | 170/4 | €46,247 | €32,332 | -€13,915 | -30.1% |
| Amounts payable within one year | 42/48 | €38,238 | €54,285 | +€16,046 | +42.0% |
| Current portion of amounts payable after more than one year | 42 | €13,643 | €13,915 | +€272 | +2.0% |
| Trade debts | 44 | €9,900 | €11,498 | +€1,598 | +16.1% |
| Suppliers | 440/4 | €9,900 | €11,498 | +€1,598 | +16.1% |
| Taxes, remuneration and social security | 45 | €14,696 | €28,872 | +€14,176 | +96.5% |
| Taxes | 450/3 | €14,696 | €28,872 | +€14,176 | +96.5% |
| Remuneration, social security and pensions | 62 | €2,283 | €421 | -€1,862 | -81.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,294 | €4,863 | +€1,569 | +47.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,898 | €10,221 | +€14,119 | |
| Other operating charges | 640/8 | €353 | €828 | +€475 | +134.4% |
| Gross operating margin | 9900 | €16,652 | €53,150 | +€36,498 | +219.2% |
| Operating profit (loss) | 9901 | €14,620 | €36,817 | +€22,198 | +151.8% |
| Financial income | 75/76B | €3,658 | €3,781 | +€123 | +3.4% |
| Recurring financial income | 75 | €3,658 | €3,781 | +€123 | +3.4% |
| Financial charges | 65/66B | €3,471 | €2,732 | -€739 | -21.3% |
| Recurring financial charges | 65 | €3,471 | €2,732 | -€739 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €14,807 | €37,867 | +€23,060 | +155.7% |
| Income taxes | 67/77 | €2,911 | €8,162 | +€5,251 | +180.3% |
| Profit (loss) for the period | 9904 | €11,896 | €29,704 | +€17,809 | +149.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,896 | €29,704 | +€17,809 | +149.7% |
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 10 October 2026 via checked.be.