ASW: 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.
ASW
Largest movements
- Cash +€110,227
up €110,227 (+119%), from €92,425 to €202,651
mainly Net result for the year (+€77,960) and Trade debts (+€56,909)
- Tangible fixed assets +€38,372
up €38,372 (+466%), from €8,234 to €46,607
- Receivables within one year +€23,168
up €23,168 (+160%), from €14,472 to €37,640
of which Trade receivables: +€13,292
- Profit (loss) carried forward +€77,960
up €77,960 (+91.1%), from €85,593 to €163,553
- Trade debts +€56,909
up €56,909 (+1,120%), from €5,083 to €61,992
of which Suppliers: +€41,904
- Tax, wage and social debts +€23,833
up €23,833 (+103%), from €23,080 to €46,913
of which Taxes: +€20,833
- Current portion of long-term debt +€14,701
new in 2025: €14,701
- Turnover -€285,530
no longer reported in 2025 (was €285,530)
- Purchases and services -€177,090
no longer reported in 2025 (was €177,090)
- Depreciation +€16,123
up €16,123 (+53,403%), from €30 to €16,153
- Gross operating margin +€7,880
up €7,880 (+7.3%), from €108,439 to €116,320
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 | €116,501 | €288,159 | +€171,658 | +147% |
| Fixed assets | 21/28 | €8,234 | €46,607 | +€38,372 | +466% |
| Tangible fixed assets | 22/27 | €8,234 | €46,607 | +€38,372 | +466% |
| Furniture and vehicles | 24 | €8,234 | €46,607 | +€38,372 | +466% |
| Current assets | 29/58 | €108,267 | €241,552 | +€133,285 | +123% |
| Amounts receivable within one year | 40/41 | €14,472 | €37,640 | +€23,168 | +160% |
| Trade receivables | 40 | €8,944 | €22,236 | +€13,292 | +149% |
| Other amounts receivable | 41 | €5,528 | €15,403 | +€9,875 | +179% |
| Cash at bank and in hand | 54/58 | €92,425 | €202,651 | +€110,227 | +119% |
| Deferred charges and accrued income | 490/1 | €1,371 | €1,261 | -€110 | -8.0% |
| Total equity and liabilities | 10/49 | €116,501 | €288,159 | +€171,658 | +147% |
| Equity | 10/15 | €86,593 | €164,553 | +€77,960 | +90.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,593 | €163,553 | +€77,960 | +91.1% |
| Amounts payable | 17/49 | €29,908 | €123,606 | +€93,698 | +313% |
| Amounts payable within one year | 42/48 | €29,908 | €123,606 | +€93,698 | +313% |
| Current portion of amounts payable after more than one year | 42 | - | €14,701 | +€14,701 | |
| Trade debts | 44 | €5,083 | €61,992 | +€56,909 | +1,120% |
| Suppliers | 440/4 | €5,083 | €46,987 | +€41,904 | +824% |
| Bills of exchange payable | 441 | - | €15,005 | +€15,005 | |
| Taxes, remuneration and social security | 45 | €23,080 | €46,913 | +€23,833 | +103% |
| Taxes | 450/3 | €23,080 | €43,913 | +€20,833 | +90.3% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €1,745 | - | -€1,745 | |
| Turnover | 70 | €285,530 | - | -€285,530 | |
| Goods, raw materials, services and sundry goods | 60/61 | €177,090 | - | -€177,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30 | €16,153 | +€16,123 | +53,403% |
| Other operating charges | 640/8 | €2,117 | €504 | -€1,613 | -76.2% |
| Gross operating margin | 9900 | €108,439 | €116,320 | +€7,880 | +7.3% |
| Operating profit (loss) | 9901 | €106,292 | €99,663 | -€6,629 | -6.2% |
| Financial income | 75/76B | €1,615 | €497 | -€1,118 | -69.2% |
| Recurring financial income | 75 | €1,615 | €497 | -€1,118 | -69.2% |
| Financial charges | 65/66B | €34 | €2,334 | +€2,300 | +6,791% |
| Recurring financial charges | 65 | €34 | €2,334 | +€2,300 | +6,791% |
| Profit (loss) for the period before taxes | 9903 | €107,873 | €97,826 | -€10,047 | -9.3% |
| Income taxes | 67/77 | €22,280 | €19,867 | -€2,413 | -10.8% |
| Profit (loss) for the period | 9904 | €85,593 | €77,960 | -€7,633 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,593 | €77,960 | -€7,633 | -8.9% |
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 13 October 2026 via checked.be.