AHV Belgium: 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.
AHV Belgium
Largest movements
- Stocks and contracts -€29,457
down €29,457 (-27.0%), from €109,036 to €79,579
- Cash -€26,971
down €26,971 (-24.7%), from €109,170 to €82,199
mainly Other debts (-€139,978) and Deferred charges and accrued income (-€14,757)
- Deferred charges and accrued income +€14,757
up €14,757 (+744%), from €1,985 to €16,742
- Other debts -€139,978
down €139,978 (-50.5%), from €277,256 to €137,278
- Profit (loss) carried forward +€44,122
up €44,122 (+79.7%), from -€55,384 to -€11,262
- Tax, wage and social debts +€34,861
up €34,861 (+33.1%), from €105,388 to €140,249
of which Taxes: +€21,224
- Accrued charges and deferred income +€10,163
up €10,163, from €0 to €10,163
- Trade debts +€8,642
up €8,642 (+22.2%), from €38,990 to €47,631
- Staff costs -€90,494
down €90,494 (-15.9%), from €567,808 to €477,313
- Gross operating margin -€37,765
down €37,765 (-6.3%), from €596,510 to €558,745
- Taxes +€15,141
up €15,141 (+351%), from €4,309 to €19,450
- Financial charges -€11,681
down €11,681 (-65.1%), from €17,954 to €6,273
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 | €367,249 | €325,060 | -€42,189 | -11.5% |
| Fixed assets | 21/28 | €5,200 | €4,910 | -€289 | -5.6% |
| Tangible fixed assets | 22/27 | €1,888 | €2,098 | +€211 | +11.2% |
| Plant, machinery and equipment | 23 | - | €2,098 | +€2,098 | |
| Furniture and vehicles | 24 | €1,888 | €0 | -€1,888 | -100% |
| Financial fixed assets | 28 | €3,312 | €2,812 | -€500 | -15.1% |
| Current assets | 29/58 | €362,049 | €320,149 | -€41,900 | -11.6% |
| Stocks and contracts in progress | 3 | €109,036 | €79,579 | -€29,457 | -27.0% |
| Stocks | 30/36 | €109,036 | €79,579 | -€29,457 | -27.0% |
| Amounts receivable within one year | 40/41 | €141,859 | €141,630 | -€229 | -0.2% |
| Trade receivables | 40 | €133,359 | €141,630 | +€8,271 | +6.2% |
| Other amounts receivable | 41 | €8,500 | €0 | -€8,500 | -100% |
| Cash at bank and in hand | 54/58 | €109,170 | €82,199 | -€26,971 | -24.7% |
| Deferred charges and accrued income | 490/1 | €1,985 | €16,742 | +€14,757 | +744% |
| Total equity and liabilities | 10/49 | €367,249 | €325,060 | -€42,189 | -11.5% |
| Equity | 10/15 | -€54,384 | -€10,262 | +€44,122 | +81.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,384 | -€11,262 | +€44,122 | +79.7% |
| Amounts payable | 17/49 | €421,633 | €335,321 | -€86,312 | -20.5% |
| Amounts payable within one year | 42/48 | €421,633 | €325,158 | -€96,475 | -22.9% |
| Trade debts | 44 | €38,990 | €47,631 | +€8,642 | +22.2% |
| Suppliers | 440/4 | €38,990 | €47,631 | +€8,642 | +22.2% |
| Taxes, remuneration and social security | 45 | €105,388 | €140,249 | +€34,861 | +33.1% |
| Taxes | 450/3 | €15,921 | €37,145 | +€21,224 | +133% |
| Remuneration and social security | 454/9 | €89,466 | €103,104 | +€13,637 | +15.2% |
| Other amounts payable | 47/48 | €277,256 | €137,278 | -€139,978 | -50.5% |
| Accrued charges and deferred income | 492/3 | €0 | €10,163 | +€10,163 | |
| Remuneration, social security and pensions | 62 | €567,808 | €477,313 | -€90,494 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,782 | €2,186 | -€595 | -21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,850 | €8,182 | +€3,331 | +68.7% |
| Other operating charges | 640/8 | €1,125 | €1,231 | +€106 | +9.4% |
| Gross operating margin | 9900 | €596,510 | €558,745 | -€37,765 | -6.3% |
| Operating profit (loss) | 9901 | €19,945 | €69,833 | +€49,887 | +250% |
| Financial income | 75/76B | €124 | €12 | -€112 | -90.0% |
| Recurring financial income | 75 | €124 | €12 | -€112 | -90.0% |
| Financial charges | 65/66B | €17,954 | €6,273 | -€11,681 | -65.1% |
| Recurring financial charges | 65 | €17,954 | €6,273 | -€11,681 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €2,116 | €63,572 | +€61,457 | +2,905% |
| Income taxes | 67/77 | €4,309 | €19,450 | +€15,141 | +351% |
| Profit (loss) for the period | 9904 | -€2,193 | €44,122 | +€46,315 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,193 | €44,122 | +€46,315 |
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 31 October 2026 via checked.be.