AV-RENO: 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.
AV-RENO
Largest movements
- Receivables within one year +€62,530
up €62,530 (+47.3%), from €132,268 to €194,798
of which Other amounts receivable: +€58,821
- Tangible fixed assets +€2,713
up €2,713 (+668%), from €406 to €3,119
- Reserves +€55,003
up €55,003 (+70.3%), from €78,194 to €133,197
of which Distributable reserves: +€55,003
- Tax, wage and social debts +€9,606
up €9,606 (+29.2%), from €32,882 to €42,488
- Trade debts +€7,400
up €7,400 (+65.6%), from €11,282 to €18,682
- Short-term financial debts -€7,005
down €7,005 (-80.8%), from €8,674 to €1,669
- Gross operating margin +€11,888
up €11,888 (+18.7%), from €63,649 to €75,537
- Taxes +€3,397
up €3,397 (+18.5%), from €18,410 to €21,807
- Financial income +€3,079
up €3,079 (+52.0%), from €5,919 to €8,999
- Financial charges +€900
up €900 (+26.0%), from €3,455 to €4,355
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 | €137,231 | €202,236 | +€65,005 | +47.4% |
| Fixed assets | 21/28 | €406 | €3,119 | +€2,713 | +668% |
| Tangible fixed assets | 22/27 | €406 | €3,119 | +€2,713 | +668% |
| Furniture and vehicles | 24 | €406 | €3,119 | +€2,713 | +668% |
| Current assets | 29/58 | €136,825 | €199,117 | +€62,292 | +45.5% |
| Amounts receivable within one year | 40/41 | €132,268 | €194,798 | +€62,530 | +47.3% |
| Trade receivables | 40 | €4,200 | €7,909 | +€3,709 | +88.3% |
| Other amounts receivable | 41 | €128,068 | €186,889 | +€58,821 | +45.9% |
| Cash at bank and in hand | 54/58 | €3,997 | €3,997 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €560 | €322 | -€238 | -42.5% |
| Total equity and liabilities | 10/49 | €137,231 | €202,236 | +€65,005 | +47.4% |
| Equity | 10/15 | €84,394 | €139,397 | +€55,003 | +65.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €78,194 | €133,197 | +€55,003 | +70.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,334 | €131,337 | +€55,003 | +72.1% |
| Amounts payable | 17/49 | €52,837 | €62,839 | +€10,001 | +18.9% |
| Amounts payable within one year | 42/48 | €52,837 | €62,839 | +€10,001 | +18.9% |
| Financial debts | 43 | €8,674 | €1,669 | -€7,005 | -80.8% |
| Credit institutions | 430/8 | €8,674 | €1,669 | -€7,005 | -80.8% |
| Trade debts | 44 | €11,282 | €18,682 | +€7,400 | +65.6% |
| Suppliers | 440/4 | €11,282 | €18,682 | +€7,400 | +65.6% |
| Taxes, remuneration and social security | 45 | €32,882 | €42,488 | +€9,606 | +29.2% |
| Taxes | 450/3 | €32,882 | €42,488 | +€9,606 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €710 | +€225 | +46.6% |
| Other operating charges | 640/8 | €2,286 | €2,661 | +€374 | +16.4% |
| Gross operating margin | 9900 | €63,649 | €75,537 | +€11,888 | +18.7% |
| Operating profit (loss) | 9901 | €60,878 | €72,167 | +€11,288 | +18.5% |
| Financial income | 75/76B | €5,919 | €8,999 | +€3,079 | +52.0% |
| Recurring financial income | 75 | €5,919 | €8,999 | +€3,079 | +52.0% |
| Financial charges | 65/66B | €3,455 | €4,355 | +€900 | +26.0% |
| Recurring financial charges | 65 | €3,455 | €4,355 | +€900 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €63,343 | €76,811 | +€13,468 | +21.3% |
| Income taxes | 67/77 | €18,410 | €21,807 | +€3,397 | +18.5% |
| Profit (loss) for the period | 9904 | €44,933 | €55,003 | +€10,070 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,933 | €55,003 | +€10,070 | +22.4% |
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 23 October 2026 via checked.be.