A3VK: 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.
A3VK
Largest movements
- Cash +€134,273
up €134,273 (+282%), from €47,537 to €181,810
mainly Other debts (+€174,426) and Depreciation (+€116,344)
- Tangible fixed assets -€87,932
down €87,932 (-3.2%), from €2.8m to €2.7m
of which Land and buildings: -€92,839
- Receivables within one year -€56,028
down €56,028 (-71.9%), from €77,907 to €21,879
of which Trade receivables: -€57,223
- Other debts +€174,426
up €174,426 (+17.8%), from €981,183 to €1.2m
- Debts after one year -€106,558
down €106,558 (-5.6%), from €1.9m to €1.8m
- Reserves -€77,058
down €77,058 (-78.5%), from €98,112 to €21,054
of which Distributable reserves: -€98,112
- Accrued charges and deferred income +€37,949
up €37,949 (+214%), from €17,705 to €55,654
- Other operating charges +€58,553
up €58,553 (+1,176%), from €4,979 to €63,532
- Gross operating margin +€44,373
up €44,373 (+17.9%), from €247,280 to €291,653
- Staff costs -€36,983
down €36,983 (-92.3%), from €40,075 to €3,093
- Taxes +€10,425
up €10,425 (+99.2%), from €10,506 to €20,931
- Financial charges +€8,387
up €8,387 (+13.7%), from €61,342 to €69,729
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 | €3,407,716 | €3,418,034 | +€10,318 | +0.3% |
| Fixed assets | 21/28 | €2,777,135 | €2,689,202 | -€87,932 | -3.2% |
| Tangible fixed assets | 22/27 | €2,777,135 | €2,689,202 | -€87,932 | -3.2% |
| Land and buildings | 22 | €2,758,425 | €2,665,586 | -€92,839 | -3.4% |
| Plant, machinery and equipment | 23 | €523 | - | -€523 | |
| Furniture and vehicles | 24 | €18,187 | €23,616 | +€5,429 | +29.8% |
| Current assets | 29/58 | €630,581 | €728,832 | +€98,251 | +15.6% |
| Amounts receivable within one year | 40/41 | €77,907 | €21,879 | -€56,028 | -71.9% |
| Trade receivables | 40 | €68,413 | €11,190 | -€57,223 | -83.6% |
| Other amounts receivable | 41 | €9,494 | €10,689 | +€1,196 | +12.6% |
| Current investments | 50/53 | €488,345 | €517,488 | +€29,144 | +6.0% |
| Cash at bank and in hand | 54/58 | €47,537 | €181,810 | +€134,273 | +282% |
| Deferred charges and accrued income | 490/1 | €16,793 | €7,655 | -€9,138 | -54.4% |
| Total equity and liabilities | 10/49 | €3,407,716 | €3,418,034 | +€10,318 | +0.3% |
| Equity | 10/15 | €348,112 | €268,030 | -€80,082 | -23.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €98,112 | €21,054 | -€77,058 | -78.5% |
| Tax-exempt reserves | 132 | - | €21,054 | +€21,054 | |
| Distributable reserves | 133 | €98,112 | - | -€98,112 | |
| Profit (loss) carried forward | 14 | - | -€3,024 | -€3,024 | |
| Amounts payable | 17/49 | €3,059,604 | €3,150,004 | +€90,400 | +3.0% |
| Amounts payable after more than one year | 17 | €1,901,383 | €1,794,824 | -€106,558 | -5.6% |
| Financial debts | 170/4 | €1,901,383 | €1,794,824 | -€106,558 | -5.6% |
| Amounts payable within one year | 42/48 | €1,140,517 | €1,299,526 | +€159,009 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €109,046 | €110,437 | +€1,391 | +1.3% |
| Financial debts | 43 | €820 | €391 | -€429 | -52.3% |
| Credit institutions | 430/8 | €820 | €391 | -€429 | -52.3% |
| Trade debts | 44 | €7,365 | - | -€7,365 | |
| Suppliers | 440/4 | €7,365 | - | -€7,365 | |
| Taxes, remuneration and social security | 45 | €42,103 | €33,089 | -€9,014 | -21.4% |
| Taxes | 450/3 | €32,150 | €33,089 | +€939 | +2.9% |
| Remuneration and social security | 454/9 | €9,953 | - | -€9,953 | |
| Other amounts payable | 47/48 | €981,183 | €1,155,608 | +€174,426 | +17.8% |
| Accrued charges and deferred income | 492/3 | €17,705 | €55,654 | +€37,949 | +214% |
| Remuneration, social security and pensions | 62 | €40,075 | €3,093 | -€36,983 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,193 | €116,344 | +€1,151 | +1.0% |
| Other operating charges | 640/8 | €4,979 | €63,532 | +€58,553 | +1,176% |
| Gross operating margin | 9900 | €247,280 | €291,653 | +€44,373 | +17.9% |
| Operating profit (loss) | 9901 | €87,033 | €108,684 | +€21,651 | +24.9% |
| Financial income | 75/76B | €0 | €6 | +€6 | +12,600% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +12,600% |
| Financial charges | 65/66B | €61,342 | €69,729 | +€8,387 | +13.7% |
| Recurring financial charges | 65 | €61,342 | €69,729 | +€8,387 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €25,691 | €38,962 | +€13,270 | +51.7% |
| Income taxes | 67/77 | €10,506 | €20,931 | +€10,425 | +99.2% |
| Profit (loss) for the period | 9904 | €15,185 | €18,030 | +€2,845 | +18.7% |
| Transfer to tax-exempt reserves | 689 | - | €21,054 | +€21,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,185 | -€3,024 | -€18,209 |
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 14 October 2026 via checked.be.