A2V: 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.
A2V
Largest movements
- Tangible fixed assets +€225,996
up €225,996 (+104.3%), from €216,693 to €442,688
of which Other tangible fixed assets: +€255,941
- Cash -€105,384
down €105,384 (-72.8%), from €144,753 to €39,369
mainly Investment in fixed assets (net) (-€268,000) and Debts after one year (-€63,033)
- Receivables within one year -€73,201
down €73,201 (-28.9%), from €253,497 to €180,296
of which Other amounts receivable: -€125,000
- Other debts +€95,989
up €95,989 (+2784.4%), from €3,447 to €99,436
- Debts after one year -€63,033
down €63,033 (-13.6%), from €465,157 to €402,124
- Trade debts +€31,723
up €31,723 (+26.1%), from €121,349 to €153,071
- Profit (loss) carried forward -€31,718
down €31,718, from €821 to -€30,896
- Short-term financial debts +€9,999
new in 2025: €9,999
- Gross operating margin +€81,605
up €81,605 (+54.7%), from €149,068 to €230,673
- Staff costs +€74,688
up €74,688 (+72.6%), from €102,845 to €177,532
- Financial charges +€16,446
up €16,446 (+176.0%), from €9,345 to €25,790
- Depreciation +€7,854
up €7,854 (+23.0%), from €34,150 to €42,004
- Write-downs +€6,166
up €6,166 (+52.9%), from €11,653 to €17,819
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 | €724,987 | €782,712 | +€57,725 | +8.0% |
| Fixed assets | 21/28 | €216,693 | €442,688 | +€225,996 | +104.3% |
| Tangible fixed assets | 22/27 | €216,693 | €442,688 | +€225,996 | +104.3% |
| Plant, machinery and equipment | 23 | €1,226 | €260 | -€967 | -78.8% |
| Furniture and vehicles | 24 | €58,094 | €29,115 | -€28,979 | -49.9% |
| Other tangible fixed assets | 26 | €157,372 | €413,314 | +€255,941 | +162.6% |
| Current assets | 29/58 | €508,295 | €340,023 | -€168,271 | -33.1% |
| Stocks and contracts in progress | 3 | €107,882 | €112,174 | +€4,292 | +4.0% |
| Stocks | 30/36 | €107,882 | €112,174 | +€4,292 | +4.0% |
| Amounts receivable within one year | 40/41 | €253,497 | €180,296 | -€73,201 | -28.9% |
| Trade receivables | 40 | €128,497 | €180,296 | +€51,799 | +40.3% |
| Other amounts receivable | 41 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €144,753 | €39,369 | -€105,384 | -72.8% |
| Deferred charges and accrued income | 490/1 | €2,163 | €8,185 | +€6,022 | +278.4% |
| Total equity and liabilities | 10/49 | €724,987 | €782,712 | +€57,725 | +8.0% |
| Equity | 10/15 | €36,821 | €5,104 | -€31,718 | -86.1% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €821 | -€30,896 | -€31,718 | |
| Amounts payable | 17/49 | €688,166 | €777,608 | +€89,442 | +13.0% |
| Amounts payable after more than one year | 17 | €465,157 | €402,124 | -€63,033 | -13.6% |
| Financial debts | 170/4 | €465,157 | €402,124 | -€63,033 | -13.6% |
| Amounts payable within one year | 42/48 | €223,008 | €375,484 | +€152,476 | +68.4% |
| Current portion of amounts payable after more than one year | 42 | €58,573 | €65,003 | +€6,430 | +11.0% |
| Financial debts | 43 | - | €9,999 | +€9,999 | |
| Credit institutions | 430/8 | - | €9,999 | +€9,999 | |
| Trade debts | 44 | €121,349 | €153,071 | +€31,723 | +26.1% |
| Suppliers | 440/4 | €121,349 | €153,071 | +€31,723 | +26.1% |
| Taxes, remuneration and social security | 45 | €39,639 | €47,974 | +€8,335 | +21.0% |
| Taxes | 450/3 | €28,985 | €28,273 | -€712 | -2.5% |
| Remuneration and social security | 454/9 | €10,654 | €19,701 | +€9,047 | +84.9% |
| Other amounts payable | 47/48 | €3,447 | €99,436 | +€95,989 | +2784.4% |
| Remuneration, social security and pensions | 62 | €102,845 | €177,532 | +€74,688 | +72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,150 | €42,004 | +€7,854 | +23.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,653 | €17,819 | +€6,166 | +52.9% |
| Other operating charges | 640/8 | €2,412 | €2,555 | +€143 | +5.9% |
| Gross operating margin | 9900 | €149,068 | €230,673 | +€81,605 | +54.7% |
| Operating profit (loss) | 9901 | -€1,993 | -€9,238 | -€7,245 | -363.5% |
| Financial income | 75/76B | €3,466 | €3,524 | +€58 | +1.7% |
| Recurring financial income | 75 | €3,466 | €3,524 | +€58 | +1.7% |
| Financial charges | 65/66B | €9,345 | €25,790 | +€16,446 | +176.0% |
| Recurring financial charges | 65 | €9,345 | €25,790 | +€16,446 | +176.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,872 | -€31,505 | -€23,633 | -300.2% |
| Income taxes | 67/77 | €464 | €213 | -€250 | -54.0% |
| Profit (loss) for the period | 9904 | -€8,335 | -€31,718 | -€23,382 | -280.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,335 | -€31,718 | -€23,382 | -280.5% |
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 7 October 2026 via checked.be.