A.V.G.: 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.V.G.
Largest movements
- Tangible fixed assets -€25,791
down €25,791 (-9.2%), from €280,310 to €254,519
of which Land and buildings: -€25,269
- Receivables within one year -€21,840
down €21,840 (-14.1%), from €154,686 to €132,846
of which Trade receivables: -€22,619
- Stocks and contracts -€17,250
down €17,250 (-13.2%), from €130,840 to €113,590
- Cash +€13,452
up €13,452 (+302%), from €4,449 to €17,901
mainly Depreciation (+€27,670) and Receivables within one year (+€21,840)
- Profit (loss) carried forward -€45,737
down €45,737 (-12.3%), from -€371,231 to -€416,969
- Trade debts -€25,840
down €25,840 (-62.9%), from €41,092 to €15,253
- Other debts +€17,157
up €17,157 (+9.7%), from €177,173 to €194,330
- Gross operating margin +€20,587
up €20,587 (+478%), from €4,303 to €24,889
- Other operating charges -€4,139
down €4,139 (-14.8%), from €27,933 to €23,794
- Taxes +€725
new in 2025: €725
- Depreciation +€535
up €535 (+2.0%), from €27,135 to €27,670
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 | €576,189 | €525,100 | -€51,089 | -8.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €283,432 | €257,391 | -€26,041 | -9.2% |
| Intangible fixed assets | 21 | €2,751 | €2,500 | -€251 | -9.1% |
| Tangible fixed assets | 22/27 | €280,310 | €254,519 | -€25,791 | -9.2% |
| Land and buildings | 22 | €273,988 | €248,719 | -€25,269 | -9.2% |
| Plant, machinery and equipment | 23 | €2,561 | €3,522 | +€961 | +37.5% |
| Furniture and vehicles | 24 | €3,761 | €2,278 | -€1,483 | -39.4% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €292,757 | €267,709 | -€25,048 | -8.6% |
| Stocks and contracts in progress | 3 | €130,840 | €113,590 | -€17,250 | -13.2% |
| Stocks | 30/36 | €130,840 | €113,590 | -€17,250 | -13.2% |
| Amounts receivable within one year | 40/41 | €154,686 | €132,846 | -€21,840 | -14.1% |
| Trade receivables | 40 | €153,816 | €131,197 | -€22,619 | -14.7% |
| Other amounts receivable | 41 | €870 | €1,649 | +€779 | +89.5% |
| Cash at bank and in hand | 54/58 | €4,449 | €17,901 | +€13,452 | +302% |
| Deferred charges and accrued income | 490/1 | €2,781 | €3,372 | +€590 | +21.2% |
| Total equity and liabilities | 10/49 | €576,189 | €525,100 | -€51,089 | -8.9% |
| Equity | 10/15 | -€306,196 | -€351,934 | -€45,737 | -14.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,062 | €3,062 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,062 | €3,062 | = | 0.0% |
| Legal reserve | 130 | €3,062 | €3,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€371,231 | -€416,969 | -€45,737 | -12.3% |
| Amounts payable | 17/49 | €882,385 | €877,033 | -€5,352 | -0.6% |
| Amounts payable after more than one year | 17 | €660,000 | €660,000 | = | 0.0% |
| Financial debts | 170/4 | €660,000 | €660,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €222,385 | €217,033 | -€5,352 | -2.4% |
| Trade debts | 44 | €41,092 | €15,253 | -€25,840 | -62.9% |
| Suppliers | 440/4 | €41,092 | €15,253 | -€25,840 | -62.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,120 | €7,451 | +€3,330 | +80.8% |
| Taxes | 450/3 | €4,120 | €7,451 | +€3,330 | +80.8% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €177,173 | €194,330 | +€17,157 | +9.7% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,135 | €27,670 | +€535 | +2.0% |
| Other operating charges | 640/8 | €27,933 | €23,794 | -€4,139 | -14.8% |
| Non-recurring operating charges | 66A | €1,689 | €17,707 | +€16,019 | +949% |
| Gross operating margin | 9900 | €4,303 | €24,889 | +€20,587 | +478% |
| Operating profit (loss) | 9901 | -€52,454 | -€44,282 | +€8,172 | +15.6% |
| Financial income | 75/76B | €35 | €28 | -€7 | -19.0% |
| Recurring financial income | 75 | €35 | €28 | -€7 | -19.0% |
| Financial charges | 65/66B | €746 | €759 | +€13 | +1.8% |
| Recurring financial charges | 65 | €746 | €759 | +€13 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,165 | -€45,013 | +€8,152 | +15.3% |
| Income taxes | 67/77 | - | €725 | +€725 | |
| Profit (loss) for the period | 9904 | -€53,165 | -€45,737 | +€7,428 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,165 | -€45,737 | +€7,428 | +14.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.