ASVERFIN: 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.
ASVERFIN
Largest movements
- Cash -€9,891
down €9,891 (-20.1%), from €49,231 to €39,339
mainly Contributions, distributions and other (-€31,000) and Current portion of long-term debt (-€3,425)
- Receivables within one year -€6,071
down €6,071 (-26.7%), from €22,780 to €16,709
- Tangible fixed assets -€5,360
down €5,360 (-86.8%), from €6,172 to €812
of which Furniture and vehicles: -€5,090
- Reserves -€16,000
down €16,000 (-25.1%), from €63,860 to €47,860
of which Distributable reserves: -€16,000
- Current portion of long-term debt -€3,425
down €3,425 (-74.8%), from €4,580 to €1,154
- Other debts -€2,115
down €2,115 (-75.1%), from €2,815 to €700
- Tax, wage and social debts +€1,465
up €1,465 (+35.0%), from €4,192 to €5,657
- Debts after one year -€1,154
no longer reported in 2025 (was €1,154)
- Gross operating margin -€3,223
down €3,223 (-9.8%), from €32,867 to €29,644
- Taxes -€382
down €382 (-4.8%), from €8,039 to €7,656
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 | €78,228 | €56,905 | -€21,323 | -27.3% |
| Fixed assets | 21/28 | €6,217 | €857 | -€5,360 | -86.2% |
| Tangible fixed assets | 22/27 | €6,172 | €812 | -€5,360 | -86.8% |
| Furniture and vehicles | 24 | €5,090 | - | -€5,090 | |
| Other tangible fixed assets | 26 | €1,082 | €812 | -€271 | -25.0% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €72,011 | €56,048 | -€15,963 | -22.2% |
| Amounts receivable within one year | 40/41 | €22,780 | €16,709 | -€6,071 | -26.7% |
| Other amounts receivable | 41 | €22,780 | €16,709 | -€6,071 | -26.7% |
| Cash at bank and in hand | 54/58 | €49,231 | €39,339 | -€9,891 | -20.1% |
| Total equity and liabilities | 10/49 | €78,228 | €56,905 | -€21,323 | -27.3% |
| Equity | 10/15 | €64,232 | €48,586 | -€15,646 | -24.4% |
| Reserves | 13 | €63,860 | €47,860 | -€16,000 | -25.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €62,000 | €46,000 | -€16,000 | -25.8% |
| Profit (loss) carried forward | 14 | €372 | €726 | +€354 | +95.3% |
| Amounts payable | 17/49 | €13,996 | €8,319 | -€5,677 | -40.6% |
| Amounts payable after more than one year | 17 | €1,154 | - | -€1,154 | |
| Financial debts | 170/4 | €1,154 | - | -€1,154 | |
| Amounts payable within one year | 42/48 | €12,842 | €8,319 | -€4,523 | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €4,580 | €1,154 | -€3,425 | -74.8% |
| Trade debts | 44 | €1,256 | €808 | -€448 | -35.7% |
| Suppliers | 440/4 | €1,256 | €808 | -€448 | -35.7% |
| Taxes, remuneration and social security | 45 | €4,192 | €5,657 | +€1,465 | +35.0% |
| Taxes | 450/3 | €4,192 | €5,657 | +€1,465 | +35.0% |
| Other amounts payable | 47/48 | €2,815 | €700 | -€2,115 | -75.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,376 | €5,360 | -€15 | -0.3% |
| Other operating charges | 640/8 | €1,262 | €1,240 | -€22 | -1.7% |
| Gross operating margin | 9900 | €32,867 | €29,644 | -€3,223 | -9.8% |
| Operating profit (loss) | 9901 | €26,229 | €23,043 | -€3,186 | -12.1% |
| Financial income | 75/76B | €153 | €134 | -€20 | -12.9% |
| Recurring financial income | 75 | €153 | €134 | -€20 | -12.9% |
| Financial charges | 65/66B | €231 | €166 | -€65 | -28.1% |
| Recurring financial charges | 65 | €231 | €166 | -€65 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €26,151 | €23,010 | -€3,141 | -12.0% |
| Income taxes | 67/77 | €8,039 | €7,656 | -€382 | -4.8% |
| Profit (loss) for the period | 9904 | €18,112 | €15,354 | -€2,758 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,112 | €15,354 | -€2,758 | -15.2% |
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 6 October 2026 via checked.be.