A&BV: 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.
A&BV
Largest movements
- Receivables within one year +€563,335
up €563,335 (+206%), from €273,800 to €837,135
of which Other amounts receivable: +€803,848
- Intangible fixed assets -€303,517
no longer reported in 2025 (was €303,517)
- Current investments +€125,000
new in 2025: €125,000
- Tangible fixed assets -€113,208
no longer reported in 2025 (was €113,208)
of which Other tangible fixed assets: -€101,452
- Deferred charges and accrued income -€42,402
no longer reported in 2025 (was €42,402)
- Profit (loss) carried forward +€682,392
up €682,392 (+2,270%), from €30,059 to €712,451
- Short-term financial debts -€293,626
no longer reported in 2025 (was €293,626)
- Debts after one year -€218,819
no longer reported in 2025 (was €218,819)
- Trade debts +€92,550
up €92,550 (+85.0%), from €108,880 to €201,430
- Current portion of long-term debt -€86,341
no longer reported in 2025 (was €86,341)
- Gross operating margin +€829,636
up €829,636 (+160%), from €519,137 to €1.3m
- Taxes +€226,057
up €226,057 (+1,760%), from €12,846 to €238,902
- Staff costs -€152,023
down €152,023 (-53.5%), from €284,257 to €132,234
- Provisions +€80,125
new in 2025: €80,125
- Depreciation -€34,284
down €34,284 (-21.0%), from €163,646 to €129,362
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.
Derived cash bridge
A cash bridge needs two consecutive financial 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 | €827,385 | €1,016,206 | +€188,821 | +22.8% |
| Fixed assets | 21/28 | €444,998 | €28,273 | -€416,725 | -93.6% |
| Intangible fixed assets | 21 | €303,517 | - | -€303,517 | |
| Tangible fixed assets | 22/27 | €113,208 | - | -€113,208 | |
| Plant, machinery and equipment | 23 | €6,789 | - | -€6,789 | |
| Furniture and vehicles | 24 | €4,967 | - | -€4,967 | |
| Other tangible fixed assets | 26 | €101,452 | - | -€101,452 | |
| Financial fixed assets | 28 | €28,273 | €28,273 | -€0 | 0.0% |
| Current assets | 29/58 | €382,388 | €987,933 | +€605,545 | +158% |
| Amounts receivable within one year | 40/41 | €273,800 | €837,135 | +€563,335 | +206% |
| Trade receivables | 40 | €253,770 | €13,257 | -€240,513 | -94.8% |
| Other amounts receivable | 41 | €20,030 | €823,878 | +€803,848 | +4,013% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €66,186 | €25,798 | -€40,388 | -61.0% |
| Deferred charges and accrued income | 490/1 | €42,402 | - | -€42,402 | |
| Total equity and liabilities | 10/49 | €827,385 | €1,016,206 | +€188,821 | +22.8% |
| Equity | 10/15 | €52,259 | €734,651 | +€682,392 | +1,306% |
| Contributions | 10/11 | €20,200 | €20,200 | = | 0.0% |
| Contributions outside capital | 11 | - | €20,200 | +€20,200 | |
| Other | 1109/19 | - | €20,200 | +€20,200 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | - | €2,000 | +€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €30,059 | €712,451 | +€682,392 | +2,270% |
| Provisions and deferred taxes | 16 | - | €80,125 | +€80,125 | |
| Provisions for liabilities and charges | 160/5 | - | €80,125 | +€80,125 | |
| Other liabilities and charges | 164/5 | - | €80,125 | +€80,125 | |
| Amounts payable | 17/49 | €775,126 | €201,430 | -€573,696 | -74.0% |
| Amounts payable after more than one year | 17 | €218,819 | - | -€218,819 | |
| Financial debts | 170/4 | €218,819 | - | -€218,819 | |
| Amounts payable within one year | 42/48 | €554,434 | €201,430 | -€353,004 | -63.7% |
| Current portion of amounts payable after more than one year | 42 | €86,341 | - | -€86,341 | |
| Financial debts | 43 | €293,626 | - | -€293,626 | |
| Credit institutions | 430/8 | €293,626 | - | -€293,626 | |
| Trade debts | 44 | €108,880 | €201,430 | +€92,550 | +85.0% |
| Suppliers | 440/4 | €108,880 | €201,430 | +€92,550 | +85.0% |
| Taxes, remuneration and social security | 45 | €42,587 | - | -€42,587 | |
| Taxes | 450/3 | €21,939 | - | -€21,939 | |
| Remuneration and social security | 454/9 | €20,648 | - | -€20,648 | |
| Other amounts payable | 47/48 | €23,000 | - | -€23,000 | |
| Accrued charges and deferred income | 492/3 | €1,873 | - | -€1,873 | |
| Remuneration, social security and pensions | 62 | €284,257 | €132,234 | -€152,023 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,646 | €129,362 | -€34,284 | -21.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,483 | -€20,267 | -€31,750 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €80,125 | +€80,125 | |
| Other operating charges | 640/8 | €2,564 | €4,241 | +€1,677 | +65.4% |
| Non-recurring operating charges | 66A | - | €78,707 | +€78,707 | |
| Gross operating margin | 9900 | €519,137 | €1,348,773 | +€829,636 | +160% |
| Operating profit (loss) | 9901 | €57,187 | €944,371 | +€887,184 | +1,551% |
| Financial income | 75/76B | €1,384 | €4,271 | +€2,887 | +209% |
| Recurring financial income | 75 | €1,384 | €4,271 | +€2,887 | +209% |
| Financial charges | 65/66B | €25,707 | €27,348 | +€1,641 | +6.4% |
| Recurring financial charges | 65 | €25,707 | €27,348 | +€1,641 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €32,863 | €921,294 | +€888,431 | +2,703% |
| Income taxes | 67/77 | €12,846 | €238,902 | +€226,057 | +1,760% |
| Profit (loss) for the period | 9904 | €20,017 | €682,392 | +€662,375 | +3,309% |
| Profit (loss) for the period to be appropriated | 9905 | €20,017 | €682,392 | +€662,375 | +3,309% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.