AYDASO: 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.
AYDASO
Largest movements
- Cash -€124,643
down €124,643 (-35.0%), from €355,985 to €231,342
- Receivables within one year +€107,399
up €107,399 (+63.1%), from €170,290 to €277,689
of which Other amounts receivable: +€252,304
- Receivables after one year -€65,000
no longer reported in 2025 (was €65,000)
- Tangible fixed assets -€30,875
down €30,875 (-7.1%), from €435,937 to €405,062
of which Land and buildings: -€42,308
- Deferred charges and accrued income -€12,673
down €12,673 (-89.8%), from €14,118 to €1,445
- Debts after one year -€77,878
down €77,878 (-41.2%), from €188,985 to €111,107
- Other debts -€32,633
down €32,633 (-92.9%), from €35,113 to €2,480
- Tax, wage and social debts -€15,902
down €15,902 (-65.2%), from €24,371 to €8,470
- Reserves +€12,327
up €12,327 (+1.7%), from €736,691 to €749,018
of which Distributable reserves: +€12,327
- Gross operating margin -€168,214
down €168,214 (-60.7%), from €277,253 to €109,039
- Taxes -€67,178
down €67,178 (-93.8%), from €71,609 to €4,431
- Depreciation +€33,075
up €33,075 (+92.6%), from €35,714 to €68,790
- Financial income +€20,987
up €20,987 (+1127.0%), from €1,862 to €22,850
- Financial charges +€11,636
up €11,636 (+269.1%), from €4,324 to €15,960
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,041,330 | €918,902 | -€122,428 | -11.8% |
| Fixed assets | 21/28 | €435,937 | €405,062 | -€30,875 | -7.1% |
| Tangible fixed assets | 22/27 | €435,937 | €405,062 | -€30,875 | -7.1% |
| Land and buildings | 22 | €407,446 | €365,138 | -€42,308 | -10.4% |
| Plant, machinery and equipment | 23 | €27,612 | €29,840 | +€2,227 | +8.1% |
| Furniture and vehicles | 24 | €879 | €10,084 | +€9,205 | +1046.8% |
| Current assets | 29/58 | €605,393 | €513,840 | -€91,553 | -15.1% |
| Amounts receivable after more than one year | 29 | €65,000 | - | -€65,000 | |
| Other amounts receivable | 291 | €65,000 | - | -€65,000 | |
| Stocks and contracts in progress | 3 | - | €3,364 | +€3,364 | |
| Stocks | 30/36 | - | €3,364 | +€3,364 | |
| Amounts receivable within one year | 40/41 | €170,290 | €277,689 | +€107,399 | +63.1% |
| Trade receivables | 40 | €145,490 | €585 | -€144,905 | -99.6% |
| Other amounts receivable | 41 | €24,800 | €277,103 | +€252,304 | +1017.4% |
| Cash at bank and in hand | 54/58 | €355,985 | €231,342 | -€124,643 | -35.0% |
| Deferred charges and accrued income | 490/1 | €14,118 | €1,445 | -€12,673 | -89.8% |
| Total equity and liabilities | 10/49 | €1,041,330 | €918,902 | -€122,428 | -11.8% |
| Equity | 10/15 | €742,891 | €755,218 | +€12,327 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €736,691 | €749,018 | +€12,327 | +1.7% |
| Tax-exempt reserves | 132 | €688 | €688 | = | 0.0% |
| Distributable reserves | 133 | €736,003 | €748,329 | +€12,327 | +1.7% |
| Amounts payable | 17/49 | €298,439 | €163,684 | -€134,755 | -45.2% |
| Amounts payable after more than one year | 17 | €188,985 | €111,107 | -€77,878 | -41.2% |
| Financial debts | 170/4 | €188,985 | €111,107 | -€77,878 | -41.2% |
| Amounts payable within one year | 42/48 | €109,454 | €52,577 | -€56,877 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €48,469 | €41,203 | -€7,266 | -15.0% |
| Trade debts | 44 | €1,501 | €425 | -€1,076 | -71.7% |
| Suppliers | 440/4 | €1,501 | €425 | -€1,076 | -71.7% |
| Taxes, remuneration and social security | 45 | €24,371 | €8,470 | -€15,902 | -65.2% |
| Taxes | 450/3 | €24,371 | €8,470 | -€15,902 | -65.2% |
| Other amounts payable | 47/48 | €35,113 | €2,480 | -€32,633 | -92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,714 | €68,790 | +€33,075 | +92.6% |
| Other operating charges | 640/8 | €3,449 | €5,249 | +€1,799 | +52.2% |
| Non-recurring operating charges | 66A | - | €25,133 | +€25,133 | |
| Gross operating margin | 9900 | €277,253 | €109,039 | -€168,214 | -60.7% |
| Operating profit (loss) | 9901 | €238,090 | €9,868 | -€228,221 | -95.9% |
| Financial income | 75/76B | €1,862 | €22,850 | +€20,987 | +1127.0% |
| Recurring financial income | 75 | €1,862 | €22,850 | +€20,987 | +1127.0% |
| Financial charges | 65/66B | €4,324 | €15,960 | +€11,636 | +269.1% |
| Recurring financial charges | 65 | €4,324 | €15,960 | +€11,636 | +269.1% |
| Profit (loss) for the period before taxes | 9903 | €235,628 | €16,758 | -€218,870 | -92.9% |
| Income taxes | 67/77 | €71,609 | €4,431 | -€67,178 | -93.8% |
| Profit (loss) for the period | 9904 | €164,019 | €12,327 | -€151,692 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €164,019 | €12,327 | -€151,692 | -92.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.