ADVAREUS: 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.
ADVAREUS
Largest movements
- Tangible fixed assets -€124,587
down €124,587 (-8.3%), from €1.5m to €1.4m
of which Land and buildings: -€88,680
- Receivables within one year +€22,908
up €22,908 (+186%), from €12,316 to €35,224
of which Trade receivables: +€22,908
- Debts after one year -€85,605
down €85,605 (-18.1%), from €473,915 to €388,310
of which Financial debts: -€85,605
- Profit (loss) carried forward +€75,853
up €75,853 (+7.5%), from €1.0m to €1.1m
- Trade debts -€59,098
down €59,098 (-95.9%), from €61,610 to €2,512
- Short-term financial debts -€43,046
down €43,046 (-100%), from €43,046 to €0
- Gross operating margin +€48,672
up €48,672 (+13.6%), from €358,085 to €406,757
- Taxes +€16,092
up €16,092 (+33.5%), from €48,099 to €64,191
- Depreciation +€10,493
up €10,493 (+9.2%), from €114,095 to €124,587
- Financial charges -€7,820
down €7,820 (-29.0%), from €26,922 to €19,102
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 | €2,070,206 | €1,974,345 | -€95,861 | -4.6% |
| Fixed assets | 21/28 | €1,503,244 | €1,378,657 | -€124,587 | -8.3% |
| Tangible fixed assets | 22/27 | €1,503,244 | €1,378,657 | -€124,587 | -8.3% |
| Land and buildings | 22 | €1,187,451 | €1,098,772 | -€88,680 | -7.5% |
| Plant, machinery and equipment | 23 | €97,421 | €72,455 | -€24,966 | -25.6% |
| Other tangible fixed assets | 26 | €218,372 | €207,431 | -€10,941 | -5.0% |
| Current assets | 29/58 | €566,962 | €595,688 | +€28,726 | +5.1% |
| Amounts receivable within one year | 40/41 | €12,316 | €35,224 | +€22,908 | +186% |
| Trade receivables | 40 | €10,953 | €33,862 | +€22,908 | +209% |
| Other amounts receivable | 41 | €1,362 | €1,362 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €550,800 | €555,681 | +€4,881 | +0.9% |
| Deferred charges and accrued income | 490/1 | €3,846 | €4,783 | +€937 | +24.4% |
| Total equity and liabilities | 10/49 | €2,070,206 | €1,974,345 | -€95,861 | -4.6% |
| Equity | 10/15 | €1,067,908 | €1,143,762 | +€75,853 | +7.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,012,908 | €1,088,762 | +€75,853 | +7.5% |
| Amounts payable | 17/49 | €1,002,297 | €830,583 | -€171,714 | -17.1% |
| Amounts payable after more than one year | 17 | €473,915 | €388,310 | -€85,605 | -18.1% |
| Financial debts | 170/4 | €465,918 | €380,313 | -€85,605 | -18.4% |
| Other amounts payable | 178/9 | €7,997 | €7,997 | = | 0.0% |
| Amounts payable within one year | 42/48 | €493,626 | €391,090 | -€102,537 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €38,424 | €39,115 | +€692 | +1.8% |
| Financial debts | 43 | €43,046 | €0 | -€43,046 | -100% |
| Credit institutions | 430/8 | €43,046 | €0 | -€43,046 | -100% |
| Trade debts | 44 | €61,610 | €2,512 | -€59,098 | -95.9% |
| Suppliers | 440/4 | €61,610 | €2,512 | -€59,098 | -95.9% |
| Advances received on contracts in progress | 46 | €17,037 | €17,037 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €16,055 | €29,422 | +€13,367 | +83.3% |
| Taxes | 450/3 | €16,055 | €29,422 | +€13,367 | +83.3% |
| Other amounts payable | 47/48 | €317,454 | €303,003 | -€14,452 | -4.6% |
| Accrued charges and deferred income | 492/3 | €34,755 | €51,184 | +€16,428 | +47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,095 | €124,587 | +€10,493 | +9.2% |
| Other operating charges | 640/8 | €24,819 | €23,025 | -€1,795 | -7.2% |
| Gross operating margin | 9900 | €358,085 | €406,757 | +€48,672 | +13.6% |
| Operating profit (loss) | 9901 | €219,171 | €259,145 | +€39,974 | +18.2% |
| Financial charges | 65/66B | €26,922 | €19,102 | -€7,820 | -29.0% |
| Recurring financial charges | 65 | €26,922 | €19,102 | -€7,820 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €192,249 | €240,044 | +€47,794 | +24.9% |
| Income taxes | 67/77 | €48,099 | €64,191 | +€16,092 | +33.5% |
| Profit (loss) for the period | 9904 | €144,151 | €175,853 | +€31,702 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €144,151 | €175,853 | +€31,702 | +22.0% |
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.