A.V.M.: 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.M.
Largest movements
- Cash +€33,163
up €33,163 (+54.0%), from €61,410 to €94,573
mainly Net result for the year (+€20,541) and Depreciation (+€12,765)
- Receivables within one year -€10,582
down €10,582 (-25.2%), from €41,980 to €31,398
of which Other amounts receivable: -€30,310
- Tangible fixed assets -€2,472
down €2,472 (-12.1%), from €20,477 to €18,005
- Reserves +€19,708
up €19,708 (+29.8%), from €66,093 to €85,801
- Tax, wage and social debts +€4,272
up €4,272 (+44.6%), from €9,569 to €13,842
- Other debts -€3,706
down €3,706 (-77.5%), from €4,781 to €1,075
- Taxes +€4,647
up €4,647 (+48.1%), from €9,659 to €14,307
- Gross operating margin +€3,721
up €3,721 (+8.6%), from €43,259 to €46,980
- Depreciation +€2,052
up €2,052 (+19.2%), from €10,713 to €12,765
- Financial charges -€527
down €527 (-56.9%), from €926 to €399
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 | €126,763 | €146,968 | +€20,205 | +15.9% |
| Fixed assets | 21/28 | €21,034 | €18,563 | -€2,472 | -11.8% |
| Tangible fixed assets | 22/27 | €20,477 | €18,005 | -€2,472 | -12.1% |
| Furniture and vehicles | 24 | €20,477 | €18,005 | -€2,472 | -12.1% |
| Financial fixed assets | 28 | €558 | €558 | = | 0.0% |
| Current assets | 29/58 | €105,729 | €128,405 | +€22,676 | +21.4% |
| Amounts receivable within one year | 40/41 | €41,980 | €31,398 | -€10,582 | -25.2% |
| Trade receivables | 40 | €10,845 | €30,572 | +€19,728 | +181.9% |
| Other amounts receivable | 41 | €31,135 | €826 | -€30,310 | -97.3% |
| Cash at bank and in hand | 54/58 | €61,410 | €94,573 | +€33,163 | +54.0% |
| Deferred charges and accrued income | 490/1 | €2,339 | €2,435 | +€96 | +4.1% |
| Total equity and liabilities | 10/49 | €126,763 | €146,968 | +€20,205 | +15.9% |
| Equity | 10/15 | €84,693 | €104,401 | +€19,708 | +23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,093 | €85,801 | +€19,708 | +29.8% |
| Distributable reserves | 133 | €66,093 | €85,801 | +€19,708 | +29.8% |
| Amounts payable | 17/49 | €42,070 | €42,567 | +€497 | +1.2% |
| Amounts payable within one year | 42/48 | €42,070 | €42,567 | +€497 | +1.2% |
| Trade debts | 44 | €27,720 | €27,651 | -€69 | -0.2% |
| Suppliers | 440/4 | €27,720 | €27,651 | -€69 | -0.2% |
| Taxes, remuneration and social security | 45 | €9,569 | €13,842 | +€4,272 | +44.6% |
| Taxes | 450/3 | €9,569 | €13,842 | +€4,272 | +44.6% |
| Other amounts payable | 47/48 | €4,781 | €1,075 | -€3,706 | -77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,713 | €12,765 | +€2,052 | +19.2% |
| Other operating charges | 640/8 | €855 | €641 | -€214 | -25.1% |
| Gross operating margin | 9900 | €43,259 | €46,980 | +€3,721 | +8.6% |
| Operating profit (loss) | 9901 | €31,691 | €33,574 | +€1,883 | +5.9% |
| Financial income | 75/76B | €1,245 | €1,673 | +€427 | +34.3% |
| Recurring financial income | 75 | €1,245 | €1,673 | +€427 | +34.3% |
| Financial charges | 65/66B | €926 | €399 | -€527 | -56.9% |
| Recurring financial charges | 65 | €926 | €399 | -€527 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €32,011 | €34,847 | +€2,837 | +8.9% |
| Income taxes | 67/77 | €9,659 | €14,307 | +€4,647 | +48.1% |
| Profit (loss) for the period | 9904 | €22,351 | €20,541 | -€1,810 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,351 | €20,541 | -€1,810 | -8.1% |
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 8 October 2026 via checked.be.