a.v.t.e.: 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.t.e.
Largest movements
- Stocks and contracts +€21,834
up €21,834 (+42.0%), from €51,987 to €73,821
- Receivables within one year -€9,830
down €9,830 (-20.3%), from €48,309 to €38,479
of which Trade receivables: -€12,181
- Tangible fixed assets -€3,183
down €3,183 (-17.9%), from €17,823 to €14,640
of which Plant, machinery and equipment: -€2,352
- Cash -€1,568
down €1,568 (-75.8%), from €2,068 to €499
mainly Stocks and contracts (-€21,834) and Contributions, distributions and other (-€8,623)
- Reserves +€11,210
up €11,210 (+34.5%), from €32,450 to €43,660
- Other debts +€7,307
up €7,307 (+1304.8%), from €560 to €7,867
- Short-term financial debts -€3,661
no longer reported in 2025 (was €3,661)
- Debts after one year -€3,445
down €3,445 (-33.3%), from €10,333 to €6,888
- Trade debts -€2,330
down €2,330 (-20.6%), from €11,306 to €8,975
- Gross operating margin +€4,507
up €4,507 (+11.4%), from €39,441 to €43,948
- Depreciation -€3,214
down €3,214 (-28.4%), from €11,329 to €8,115
- Taxes +€2,387
up €2,387 (+43.8%), from €5,446 to €7,833
- Other operating charges -€993
down €993 (-41.5%), from €2,393 to €1,400
- Financial charges -€611
down €611 (-20.7%), from €2,950 to €2,339
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 | €124,871 | €130,930 | +€6,059 | +4.9% |
| Fixed assets | 21/28 | €19,823 | €16,640 | -€3,183 | -16.1% |
| Tangible fixed assets | 22/27 | €17,823 | €14,640 | -€3,183 | -17.9% |
| Plant, machinery and equipment | 23 | €5,983 | €3,631 | -€2,352 | -39.3% |
| Furniture and vehicles | 24 | €10,646 | €10,412 | -€234 | -2.2% |
| Other tangible fixed assets | 26 | €1,194 | €597 | -€597 | -50.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €105,048 | €114,290 | +€9,242 | +8.8% |
| Stocks and contracts in progress | 3 | €51,987 | €73,821 | +€21,834 | +42.0% |
| Stocks | 30/36 | €51,987 | €73,821 | +€21,834 | +42.0% |
| Amounts receivable within one year | 40/41 | €48,309 | €38,479 | -€9,830 | -20.3% |
| Trade receivables | 40 | €40,313 | €28,132 | -€12,181 | -30.2% |
| Other amounts receivable | 41 | €7,996 | €10,347 | +€2,351 | +29.4% |
| Current investments | 50/53 | €323 | €323 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,068 | €499 | -€1,568 | -75.8% |
| Deferred charges and accrued income | 490/1 | €2,361 | €1,167 | -€1,194 | -50.6% |
| Total equity and liabilities | 10/49 | €124,871 | €130,930 | +€6,059 | +4.9% |
| Equity | 10/15 | €78,644 | €89,341 | +€10,697 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €32,450 | €43,660 | +€11,210 | +34.5% |
| Distributable reserves | 133 | €32,450 | €43,660 | +€11,210 | +34.5% |
| Profit (loss) carried forward | 14 | €39,994 | €39,481 | -€513 | -1.3% |
| Amounts payable | 17/49 | €46,227 | €41,589 | -€4,638 | -10.0% |
| Amounts payable after more than one year | 17 | €10,333 | €6,888 | -€3,445 | -33.3% |
| Financial debts | 170/4 | €10,333 | €6,888 | -€3,445 | -33.3% |
| Amounts payable within one year | 42/48 | €35,621 | €34,641 | -€980 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €9,440 | €9,109 | -€331 | -3.5% |
| Financial debts | 43 | €3,661 | - | -€3,661 | |
| Credit institutions | 430/8 | €3,661 | - | -€3,661 | |
| Trade debts | 44 | €11,306 | €8,975 | -€2,330 | -20.6% |
| Suppliers | 440/4 | €11,306 | €8,975 | -€2,330 | -20.6% |
| Taxes, remuneration and social security | 45 | €10,655 | €8,690 | -€1,965 | -18.4% |
| Taxes | 450/3 | €10,655 | €8,690 | -€1,965 | -18.4% |
| Other amounts payable | 47/48 | €560 | €7,867 | +€7,307 | +1304.8% |
| Accrued charges and deferred income | 492/3 | €272 | €60 | -€212 | -77.8% |
| Remuneration, social security and pensions | 62 | €5,049 | €4,970 | -€79 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,329 | €8,115 | -€3,214 | -28.4% |
| Other operating charges | 640/8 | €2,393 | €1,400 | -€993 | -41.5% |
| Gross operating margin | 9900 | €39,441 | €43,948 | +€4,507 | +11.4% |
| Operating profit (loss) | 9901 | €20,670 | €29,463 | +€8,793 | +42.5% |
| Financial income | 75/76B | €25 | €29 | +€4 | +16.3% |
| Recurring financial income | 75 | €25 | €29 | +€4 | +16.3% |
| Financial charges | 65/66B | €2,950 | €2,339 | -€611 | -20.7% |
| Recurring financial charges | 65 | €2,950 | €2,339 | -€611 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €17,744 | €27,153 | +€9,408 | +53.0% |
| Income taxes | 67/77 | €5,446 | €7,833 | +€2,387 | +43.8% |
| Profit (loss) for the period | 9904 | €12,298 | €19,320 | +€7,022 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,298 | €19,320 | +€7,022 | +57.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.