A.V.D. Construct: 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.
A.V.D. Construct
Largest movements
- Cash +€24,968
up €24,968 (+57.8%), from €43,229 to €68,196
mainly Depreciation (+€20,047) and Net result for the year (+€5,465)
- Tangible fixed assets -€20,047
down €20,047 (-4.4%), from €453,851 to €433,805
of which Land and buildings: -€11,770
- Reserves +€5,465
up €5,465 (+5.8%), from €94,085 to €99,550
- Debts after one year -€5,105
down €5,105 (-1.6%), from €319,223 to €314,118
of which Trade debts: -€5,105
- Gross operating margin -€4,383
down €4,383 (-10.6%), from €41,442 to €37,060
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 | €503,019 | €508,125 | +€5,106 | +1.0% |
| Fixed assets | 21/28 | €453,851 | €433,805 | -€20,047 | -4.4% |
| Tangible fixed assets | 22/27 | €453,851 | €433,805 | -€20,047 | -4.4% |
| Land and buildings | 22 | €420,395 | €408,624 | -€11,770 | -2.8% |
| Plant, machinery and equipment | 23 | €19,189 | €13,775 | -€5,414 | -28.2% |
| Furniture and vehicles | 24 | €1,120 | €275 | -€845 | -75.4% |
| Other tangible fixed assets | 26 | €13,147 | €11,130 | -€2,017 | -15.3% |
| Current assets | 29/58 | €49,167 | €74,320 | +€25,152 | +51.2% |
| Amounts receivable within one year | 40/41 | €5,939 | €6,124 | +€185 | +3.1% |
| Trade receivables | 40 | €5,892 | €6,078 | +€186 | +3.2% |
| Other amounts receivable | 41 | €47 | €46 | -€1 | -2.5% |
| Cash at bank and in hand | 54/58 | €43,229 | €68,196 | +€24,968 | +57.8% |
| Total equity and liabilities | 10/49 | €503,019 | €508,125 | +€5,106 | +1.0% |
| Equity | 10/15 | €131,269 | €136,734 | +€5,465 | +4.2% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €94,085 | €99,550 | +€5,465 | +5.8% |
| Distributable reserves | 133 | €94,085 | €99,550 | +€5,465 | +5.8% |
| Amounts payable | 17/49 | €371,750 | €371,391 | -€359 | -0.1% |
| Amounts payable after more than one year | 17 | €319,223 | €314,118 | -€5,105 | -1.6% |
| Financial debts | 170/4 | €210,000 | €210,000 | = | 0.0% |
| Trade debts | 175 | €109,223 | €104,118 | -€5,105 | -4.7% |
| Amounts payable within one year | 42/48 | €47,658 | €52,250 | +€4,592 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €4,908 | €5,105 | +€197 | +4.0% |
| Trade debts | 44 | - | €2,500 | +€2,500 | |
| Suppliers | 440/4 | - | €2,500 | +€2,500 | |
| Taxes, remuneration and social security | 45 | €3,436 | €3,459 | +€23 | +0.7% |
| Taxes | 450/3 | €3,436 | €3,459 | +€23 | +0.7% |
| Other amounts payable | 47/48 | €39,314 | €41,186 | +€1,872 | +4.8% |
| Accrued charges and deferred income | 492/3 | €4,869 | €5,023 | +€154 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,759 | €20,047 | +€287 | +1.5% |
| Other operating charges | 640/8 | €6,824 | €7,036 | +€211 | +3.1% |
| Gross operating margin | 9900 | €41,442 | €37,060 | -€4,383 | -10.6% |
| Operating profit (loss) | 9901 | €14,859 | €9,977 | -€4,881 | -32.9% |
| Financial income | 75/76B | €37 | €152 | +€116 | +315.4% |
| Recurring financial income | 75 | €37 | €152 | +€116 | +315.4% |
| Financial charges | 65/66B | €4,826 | €4,665 | -€162 | -3.3% |
| Recurring financial charges | 65 | €4,826 | €4,665 | -€162 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €10,069 | €5,465 | -€4,604 | -45.7% |
| Profit (loss) for the period | 9904 | €10,069 | €5,465 | -€4,604 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,069 | €5,465 | -€4,604 | -45.7% |
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 29 September 2026 via checked.be.