A.V.S.: 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.
What changed
A.V.S.
NACE 42.110, Construction of roads and motorways
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,973
2024 · €31,730-€34,704
Equity
€110,666
2024 · €113,640-€2,973
Cash
€33,490
2024 · €28,727+€4,763
Balance sheet total
€567,617
2024 · €585,320-€17,703
Largest movements
Assets
- Tangible fixed assets -€25,792
down €25,792 (-5.4%), from €475,789 to €449,997
of which Land and buildings: -€12,915
Equity and liabilities
- Other debts -€8,370
down €8,370 (-2.0%), from €417,606 to €409,236
Income statement
- Gross operating margin -€42,872
down €42,872 (-63.9%), from €67,111 to €24,239
- Taxes -€2,613
down €2,613 (-82.1%), from €3,181 to €568
- Depreciation +€1,787
up €1,787 (+7.4%), from €24,005 to €25,792
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.
Result 2024
€31,730
Gross operating margin
-€42,872
Depreciation
-€1,787
Other operating charges
+€181
Financial income
+€351
Financial charges
+€386
Taxes
+€2,613
Deferred taxes and other
+€6,426
Result 2025
-€2,973
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.
From operations
+€13,600
Investment
€0
Financing
-€8,837
Cash 2024
€28,727
From operations (derived)
+€13,600
Net result for the year
-€2,973
Depreciation
+€25,792
Stocks and contracts
-€3,710
Receivables within one year
+€317
Deferred charges and accrued income
+€67
Provisions
-€1,333
Trade debts
+€3,616
Tax, wage and social debts
+€194
Other debts
-€8,370
Financing
-€8,837
Debts after one year
-€5,038
Current portion of long-term debt
-€3,798
Cash 2025
€33,490
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €585,320 | €567,617 | -€17,703 | -3.0% |
| Fixed assets | 21/28 | €475,789 | €449,997 | -€25,792 | -5.4% |
| Tangible fixed assets | 22/27 | €475,789 | €449,997 | -€25,792 | -5.4% |
| Land and buildings | 22 | €423,113 | €410,198 | -€12,915 | -3.1% |
| Plant, machinery and equipment | 23 | €206 | €0 | -€206 | -100.0% |
| Furniture and vehicles | 24 | €52,471 | €39,800 | -€12,671 | -24.1% |
| Current assets | 29/58 | €109,531 | €117,620 | +€8,089 | +7.4% |
| Stocks and contracts in progress | 3 | €2,430 | €6,140 | +€3,710 | +152.7% |
| Stocks | 30/36 | €2,430 | €6,140 | +€3,710 | +152.7% |
| Amounts receivable within one year | 40/41 | €77,724 | €77,407 | -€317 | -0.4% |
| Trade receivables | 40 | €75,849 | €74,384 | -€1,465 | -1.9% |
| Other amounts receivable | 41 | €1,874 | €3,022 | +€1,148 | +61.2% |
| Cash at bank and in hand | 54/58 | €28,727 | €33,490 | +€4,763 | +16.6% |
| Deferred charges and accrued income | 490/1 | €650 | €583 | -€67 | -10.3% |
| Total equity and liabilities | 10/49 | €585,320 | €567,617 | -€17,703 | -3.0% |
| Equity | 10/15 | €113,640 | €110,666 | -€2,973 | -2.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €27,306 | €23,307 | -€3,999 | -14.6% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,207 | €20,208 | -€3,999 | -16.5% |
| Profit (loss) carried forward | 14 | €55,348 | €56,373 | +€1,025 | +1.9% |
| Provisions and deferred taxes | 16 | €6,436 | €5,103 | -€1,333 | -20.7% |
| Deferred taxes | 168 | €6,436 | €5,103 | -€1,333 | -20.7% |
| Amounts payable | 17/49 | €465,245 | €451,848 | -€13,397 | -2.9% |
| Amounts payable after more than one year | 17 | €25,495 | €20,456 | -€5,038 | -19.8% |
| Financial debts | 170/4 | €25,495 | €20,456 | -€5,038 | -19.8% |
| Amounts payable within one year | 42/48 | €439,750 | €431,392 | -€8,358 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €8,837 | €5,038 | -€3,798 | -43.0% |
| Trade debts | 44 | €8,486 | €12,102 | +€3,616 | +42.6% |
| Suppliers | 440/4 | €8,486 | €12,102 | +€3,616 | +42.6% |
| Taxes, remuneration and social security | 45 | €4,821 | €5,015 | +€194 | +4.0% |
| Taxes | 450/3 | €4,821 | €5,015 | +€194 | +4.0% |
| Other amounts payable | 47/48 | €417,606 | €409,236 | -€8,370 | -2.0% |
| Non-recurring operating income | 76A | €25,702 | €0 | -€25,702 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,005 | €25,792 | +€1,787 | +7.4% |
| Other operating charges | 640/8 | €1,929 | €1,749 | -€181 | -9.4% |
| Gross operating margin | 9900 | €67,111 | €24,239 | -€42,872 | -63.9% |
| Operating profit (loss) | 9901 | €41,177 | -€3,302 | -€44,479 | |
| Financial income | 75/76B | €1 | €352 | +€351 | +27403.1% |
| Recurring financial income | 75 | €1 | €352 | +€351 | +27403.1% |
| Financial charges | 65/66B | €1,174 | €789 | -€386 | -32.8% |
| Recurring financial charges | 65 | €1,174 | €789 | -€386 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €40,004 | -€3,738 | -€43,743 | |
| Transfer from deferred taxes | 780 | €1,333 | €1,333 | = | 0.0% |
| Transfer to deferred taxes | 680 | €6,426 | €0 | -€6,426 | -100.0% |
| Income taxes | 67/77 | €3,181 | €568 | -€2,613 | -82.1% |
| Profit (loss) for the period | 9904 | €31,730 | -€2,973 | -€34,704 | |
| Transfer from tax-exempt reserves | 789 | €3,999 | €3,999 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €19,277 | €0 | -€19,277 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,452 | €1,025 | -€15,427 | -93.8% |
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 9 October 2026 via checked.be.