ASSETH: 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.
ASSETH
Largest movements
- Receivables within one year +€125,793
up €125,793 (+226%), from €55,713 to €181,506
of which Other amounts receivable: +€126,208
- Cash -€98,746
down €98,746 (-97.2%), from €101,617 to €2,871
mainly Receivables within one year (-€125,793) and Contributions, distributions and other (-€80,000)
- Deferred charges and accrued income +€2,928
up €2,928 (+165%), from €1,774 to €4,702
- Profit (loss) carried forward +€20,318
up €20,318 (+613%), from €3,313 to €23,631
- Tax, wage and social debts -€15,957
down €15,957 (-56.6%), from €28,207 to €12,250
of which Taxes: -€16,415
- Short-term financial debts +€14,682
new in 2025: €14,682
- Other debts +€8,241
up €8,241 (+10.0%), from €82,500 to €90,741
- Trade debts +€4,627
up €4,627 (+133%), from €3,484 to €8,111
- Gross operating margin +€38,721
up €38,721 (+26.2%), from €147,849 to €186,570
- Taxes +€21,090
up €21,090 (+114%), from €18,498 to €39,588
- Financial income +€4,419
up €4,419 (+329%), from €1,345 to €5,764
- Staff costs +€3,984
up €3,984 (+11.5%), from €34,538 to €38,523
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 | €169,504 | €201,416 | +€31,912 | +18.8% |
| Fixed assets | 21/28 | €10,399 | €12,337 | +€1,938 | +18.6% |
| Tangible fixed assets | 22/27 | €10,399 | €12,337 | +€1,938 | +18.6% |
| Plant, machinery and equipment | 23 | €2,389 | €3,569 | +€1,180 | +49.4% |
| Furniture and vehicles | 24 | €8,010 | €8,768 | +€757 | +9.5% |
| Current assets | 29/58 | €159,105 | €189,079 | +€29,974 | +18.8% |
| Amounts receivable within one year | 40/41 | €55,713 | €181,506 | +€125,793 | +226% |
| Trade receivables | 40 | €21,485 | €21,070 | -€415 | -1.9% |
| Other amounts receivable | 41 | €34,227 | €160,436 | +€126,208 | +369% |
| Cash at bank and in hand | 54/58 | €101,617 | €2,871 | -€98,746 | -97.2% |
| Deferred charges and accrued income | 490/1 | €1,774 | €4,702 | +€2,928 | +165% |
| Total equity and liabilities | 10/49 | €169,504 | €201,416 | +€31,912 | +18.8% |
| Equity | 10/15 | €55,313 | €75,631 | +€20,318 | +36.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,313 | €23,631 | +€20,318 | +613% |
| Amounts payable | 17/49 | €114,191 | €125,785 | +€11,594 | +10.2% |
| Amounts payable within one year | 42/48 | €114,191 | €125,784 | +€11,593 | +10.2% |
| Financial debts | 43 | - | €14,682 | +€14,682 | |
| Credit institutions | 430/8 | - | €14,682 | +€14,682 | |
| Trade debts | 44 | €3,484 | €8,111 | +€4,627 | +133% |
| Suppliers | 440/4 | €3,484 | €8,111 | +€4,627 | +133% |
| Taxes, remuneration and social security | 45 | €28,207 | €12,250 | -€15,957 | -56.6% |
| Taxes | 450/3 | €23,436 | €7,021 | -€16,415 | -70.0% |
| Remuneration and social security | 454/9 | €4,771 | €5,229 | +€458 | +9.6% |
| Other amounts payable | 47/48 | €82,500 | €90,741 | +€8,241 | +10.0% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €34,538 | €38,523 | +€3,984 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,069 | €6,545 | +€476 | +7.8% |
| Other operating charges | 640/8 | €6,865 | €6,246 | -€618 | -9.0% |
| Gross operating margin | 9900 | €147,849 | €186,570 | +€38,721 | +26.2% |
| Operating profit (loss) | 9901 | €100,377 | €135,256 | +€34,879 | +34.7% |
| Financial income | 75/76B | €1,345 | €5,764 | +€4,419 | +329% |
| Recurring financial income | 75 | €1,345 | €5,764 | +€4,419 | +329% |
| Financial charges | 65/66B | €723 | €1,114 | +€391 | +54.0% |
| Recurring financial charges | 65 | €723 | €1,114 | +€391 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €100,998 | €139,906 | +€38,907 | +38.5% |
| Income taxes | 67/77 | €18,498 | €39,588 | +€21,090 | +114% |
| Profit (loss) for the period | 9904 | €82,501 | €100,318 | +€17,818 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,501 | €100,318 | +€17,818 | +21.6% |
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 31 October 2026 via checked.be.