ADVALOREM TRAVEL: 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.
ADVALOREM TRAVEL
Largest movements
- Deferred charges and accrued income +€161,667
up €161,667 (+139%), from €116,594 to €278,261
- Tangible fixed assets -€44,569
down €44,569 (-23.2%), from €192,215 to €147,646
of which Land and buildings: -€24,990
- Receivables within one year -€32,555
down €32,555 (-41.6%), from €78,322 to €45,768
of which Trade receivables: -€38,198
- Cash +€5,683
up €5,683 (+55.4%), from €10,250 to €15,933
mainly Accrued charges and deferred income (+€146,576) and Depreciation (+€45,525)
- Accrued charges and deferred income +€146,576
new in 2025: €146,576
- Trade debts -€44,349
down €44,349 (-28.0%), from €158,620 to €114,271
- Debts after one year -€10,777
down €10,777 (-9.3%), from €116,466 to €105,689
- Current portion of long-term debt -€5,286
down €5,286 (-20.2%), from €26,148 to €20,861
- Gross operating margin -€22,816
down €22,816 (-24.3%), from €93,757 to €70,941
- Depreciation +€13,534
up €13,534 (+42.3%), from €31,991 to €45,525
- Financial income -€3,377
down €3,377 (-58.6%), from €5,758 to €2,381
- Staff costs -€2,136
down €2,136 (-53.5%), from €3,990 to €1,854
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 | €397,435 | €490,684 | +€93,249 | +23.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €192,215 | €147,646 | -€44,569 | -23.2% |
| Tangible fixed assets | 22/27 | €192,215 | €147,646 | -€44,569 | -23.2% |
| Land and buildings | 22 | €131,407 | €106,417 | -€24,990 | -19.0% |
| Plant, machinery and equipment | 23 | €6,678 | €2,753 | -€3,925 | -58.8% |
| Furniture and vehicles | 24 | €54,130 | €38,476 | -€15,654 | -28.9% |
| Current assets | 29/58 | €205,220 | €343,039 | +€137,818 | +67.2% |
| Amounts receivable within one year | 40/41 | €78,322 | €45,768 | -€32,555 | -41.6% |
| Trade receivables | 40 | €38,198 | €0 | -€38,198 | -100% |
| Other amounts receivable | 41 | €40,124 | €45,768 | +€5,643 | +14.1% |
| Current investments | 50/53 | €54 | €3,077 | +€3,023 | +5,565% |
| Cash at bank and in hand | 54/58 | €10,250 | €15,933 | +€5,683 | +55.4% |
| Deferred charges and accrued income | 490/1 | €116,594 | €278,261 | +€161,667 | +139% |
| Total equity and liabilities | 10/49 | €397,435 | €490,684 | +€93,249 | +23.5% |
| Equity | 10/15 | €95,927 | €99,410 | +€3,483 | +3.6% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €2,066 | €2,066 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,066 | €2,066 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,066 | €2,066 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,139 | -€12,656 | +€3,483 | +21.6% |
| Amounts payable | 17/49 | €301,508 | €391,274 | +€89,766 | +29.8% |
| Amounts payable after more than one year | 17 | €116,466 | €105,689 | -€10,777 | -9.3% |
| Financial debts | 170/4 | €116,466 | €105,689 | -€10,777 | -9.3% |
| Amounts payable within one year | 42/48 | €185,042 | €139,009 | -€46,033 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €26,148 | €20,861 | -€5,286 | -20.2% |
| Trade debts | 44 | €158,620 | €114,271 | -€44,349 | -28.0% |
| Suppliers | 440/4 | €158,620 | €114,271 | -€44,349 | -28.0% |
| Taxes, remuneration and social security | 45 | €275 | €1,814 | +€1,539 | +560% |
| Taxes | 450/3 | €275 | €357 | +€83 | +30.1% |
| Remuneration and social security | 454/9 | - | €1,456 | +€1,456 | |
| Other amounts payable | 47/48 | €0 | €2,063 | +€2,063 | |
| Accrued charges and deferred income | 492/3 | - | €146,576 | +€146,576 | |
| Remuneration, social security and pensions | 62 | €3,990 | €1,854 | -€2,136 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,991 | €45,525 | +€13,534 | +42.3% |
| Other operating charges | 640/8 | €2,563 | €2,970 | +€407 | +15.9% |
| Gross operating margin | 9900 | €93,757 | €70,941 | -€22,816 | -24.3% |
| Operating profit (loss) | 9901 | €55,214 | €20,593 | -€34,621 | -62.7% |
| Financial income | 75/76B | €5,758 | €2,381 | -€3,377 | -58.6% |
| Recurring financial income | 75 | €5,758 | €2,381 | -€3,377 | -58.6% |
| Financial charges | 65/66B | €19,975 | €19,228 | -€747 | -3.7% |
| Recurring financial charges | 65 | €19,975 | €19,228 | -€747 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €40,997 | €3,746 | -€37,251 | -90.9% |
| Income taxes | 67/77 | €258 | €263 | +€5 | +2.1% |
| Profit (loss) for the period | 9904 | €40,739 | €3,483 | -€37,256 | -91.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,739 | €3,483 | -€37,256 | -91.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.