About AV: 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.
About AV
Largest movements
- Receivables within one year -€40,728
down €40,728 (-28.2%), from €144,678 to €103,950
- Cash +€14,110
up €14,110 (+38.8%), from €36,395 to €50,505
mainly Short-term financial debts (+€53,696) and Receivables within one year (+€40,728)
- Intangible fixed assets -€13,358
down €13,358 (-33.6%), from €39,792 to €26,434
- Deferred charges and accrued income -€2,544
down €2,544 (-53.0%), from €4,797 to €2,253
- Profit (loss) carried forward -€123,693
down €123,693 (-9093.9%), from -€1,360 to -€125,053
- Short-term financial debts +€53,696
up €53,696 (+100.0%), from €53,708 to €107,404
- Trade debts +€25,909
up €25,909 (+120.1%), from €21,572 to €47,481
- Tax, wage and social debts -€11,301
down €11,301 (-8.3%), from €135,662 to €124,361
of which Remuneration and social security: -€39,994
- Other debts +€11,000
new in 2025: €11,000
- Gross operating margin -€210,433
down €210,433 (-23.0%), from €914,169 to €703,737
- Staff costs -€38,932
down €38,932 (-4.6%), from €845,213 to €806,281
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,352 | €185,619 | -€44,734 | -19.4% |
| Fixed assets | 21/28 | €44,482 | €28,911 | -€15,571 | -35.0% |
| Intangible fixed assets | 21 | €39,792 | €26,434 | -€13,358 | -33.6% |
| Tangible fixed assets | 22/27 | €3,290 | €1,077 | -€2,213 | -67.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €3,290 | €1,077 | -€2,213 | -67.3% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €185,870 | €156,707 | -€29,163 | -15.7% |
| Amounts receivable within one year | 40/41 | €144,678 | €103,950 | -€40,728 | -28.2% |
| Trade receivables | 40 | €144,678 | €103,950 | -€40,728 | -28.2% |
| Cash at bank and in hand | 54/58 | €36,395 | €50,505 | +€14,110 | +38.8% |
| Deferred charges and accrued income | 490/1 | €4,797 | €2,253 | -€2,544 | -53.0% |
| Total equity and liabilities | 10/49 | €230,352 | €185,619 | -€44,734 | -19.4% |
| Equity | 10/15 | €19,411 | -€104,638 | -€124,049 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €60 | €60 | = | 0.0% |
| Distributable reserves | 133 | €60 | €60 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,360 | -€125,053 | -€123,693 | -9093.9% |
| Investment grants | 15 | €711 | €355 | -€356 | -50.1% |
| Amounts payable | 17/49 | €210,942 | €290,257 | +€79,315 | +37.6% |
| Amounts payable within one year | 42/48 | €210,942 | €290,246 | +€79,304 | +37.6% |
| Financial debts | 43 | €53,708 | €107,404 | +€53,696 | +100.0% |
| Credit institutions | 430/8 | €53,708 | €107,404 | +€53,696 | +100.0% |
| Trade debts | 44 | €21,572 | €47,481 | +€25,909 | +120.1% |
| Suppliers | 440/4 | €21,572 | €47,481 | +€25,909 | +120.1% |
| Taxes, remuneration and social security | 45 | €135,662 | €124,361 | -€11,301 | -8.3% |
| Taxes | 450/3 | €15,507 | €44,199 | +€28,692 | +185.0% |
| Remuneration and social security | 454/9 | €120,156 | €80,162 | -€39,994 | -33.3% |
| Other amounts payable | 47/48 | - | €11,000 | +€11,000 | |
| Accrued charges and deferred income | 492/3 | - | €11 | +€11 | |
| Remuneration, social security and pensions | 62 | €845,213 | €806,281 | -€38,932 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,393 | €15,571 | +€2,178 | +16.3% |
| Other operating charges | 640/8 | €608 | €590 | -€18 | -3.0% |
| Gross operating margin | 9900 | €914,169 | €703,737 | -€210,433 | -23.0% |
| Operating profit (loss) | 9901 | €54,956 | -€118,705 | -€173,661 | |
| Financial income | 75/76B | €357 | €422 | +€65 | +18.1% |
| Recurring financial income | 75 | €357 | €422 | +€65 | +18.1% |
| Financial charges | 65/66B | €3,218 | €5,233 | +€2,015 | +62.6% |
| Recurring financial charges | 65 | €3,218 | €5,233 | +€2,015 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €52,095 | -€123,517 | -€175,612 | |
| Income taxes | 67/77 | €176 | €176 | -€0 | -0.2% |
| Profit (loss) for the period | 9904 | €51,918 | -€123,693 | -€175,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,918 | -€123,693 | -€175,611 |
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 12 October 2026 via checked.be.