AV.SAN: 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.SAN
Largest movements
- Deferred charges and accrued income +€44,570
up €44,570 (+14,108%), from €316 to €44,886
- Cash +€22,792
up €22,792 (+36.5%), from €62,445 to €85,237
mainly Trade debts (+€37,431) and Advances received (+€25,000)
- Receivables within one year -€2,582
down €2,582 (-3.6%), from €72,080 to €69,498
of which Trade receivables: -€15,024
- Reserves -€68,442
down €68,442 (-94.5%), from €72,394 to €3,952
- Profit (loss) carried forward +€68,442
no longer reported in 2025 (was -€68,442)
- Trade debts +€37,431
up €37,431 (+40.8%), from €91,654 to €129,085
- Advances received +€25,000
new in 2025: €25,000
- Other debts +€18,531
new in 2025: €18,531
- Gross operating margin -€12,307
down €12,307 (-27.2%), from €45,206 to €32,900
- Other operating charges -€8,327
down €8,327 (-48.2%), from €17,264 to €8,937
- Financial income -€4,330
no longer reported in 2025 (was €4,330)
- Taxes +€3,566
up €3,566 (+1,098%), from €325 to €3,891
- Depreciation -€2,314
down €2,314 (-63.6%), from €3,638 to €1,324
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 | €139,078 | €202,534 | +€63,456 | +45.6% |
| Fixed assets | 21/28 | €2,404 | €1,080 | -€1,324 | -55.1% |
| Tangible fixed assets | 22/27 | €2,404 | €1,080 | -€1,324 | -55.1% |
| Plant, machinery and equipment | 23 | €218 | - | -€218 | |
| Furniture and vehicles | 24 | €2,186 | €1,080 | -€1,106 | -50.6% |
| Current assets | 29/58 | €136,674 | €201,455 | +€64,780 | +47.4% |
| Stocks and contracts in progress | 3 | €1,834 | €1,834 | = | 0.0% |
| Stocks | 30/36 | €1,834 | €1,834 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,080 | €69,498 | -€2,582 | -3.6% |
| Trade receivables | 40 | €55,492 | €40,468 | -€15,024 | -27.1% |
| Other amounts receivable | 41 | €16,588 | €29,031 | +€12,442 | +75.0% |
| Cash at bank and in hand | 54/58 | €62,445 | €85,237 | +€22,792 | +36.5% |
| Deferred charges and accrued income | 490/1 | €316 | €44,886 | +€44,570 | +14,108% |
| Total equity and liabilities | 10/49 | €139,078 | €202,534 | +€63,456 | +45.6% |
| Equity | 10/15 | €24,412 | €24,412 | = | 0.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €72,394 | €3,952 | -€68,442 | -94.5% |
| Distributable reserves | 133 | €72,394 | €3,952 | -€68,442 | -94.5% |
| Profit (loss) carried forward | 14 | -€68,442 | - | +€68,442 | |
| Amounts payable | 17/49 | €114,666 | €178,122 | +€63,456 | +55.3% |
| Amounts payable within one year | 42/48 | €114,666 | €178,122 | +€63,456 | +55.3% |
| Trade debts | 44 | €91,654 | €129,085 | +€37,431 | +40.8% |
| Suppliers | 440/4 | €91,654 | €129,085 | +€37,431 | +40.8% |
| Advances received on contracts in progress | 46 | - | €25,000 | +€25,000 | |
| Taxes, remuneration and social security | 45 | €23,012 | €5,506 | -€17,506 | -76.1% |
| Taxes | 450/3 | €23,012 | €5,506 | -€17,506 | -76.1% |
| Other amounts payable | 47/48 | - | €18,531 | +€18,531 | |
| Non-recurring operating income | 76A | €14,213 | - | -€14,213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,638 | €1,324 | -€2,314 | -63.6% |
| Other operating charges | 640/8 | €17,264 | €8,937 | -€8,327 | -48.2% |
| Non-recurring operating charges | 66A | €21,282 | - | -€21,282 | |
| Gross operating margin | 9900 | €45,206 | €32,900 | -€12,307 | -27.2% |
| Operating profit (loss) | 9901 | €3,022 | €22,639 | +€19,617 | +649% |
| Financial income | 75/76B | €4,330 | - | -€4,330 | |
| Recurring financial income | 75 | €4,330 | - | -€4,330 | |
| Financial charges | 65/66B | €2,267 | €216 | -€2,051 | -90.5% |
| Recurring financial charges | 65 | €2,267 | €216 | -€2,051 | -90.5% |
| Profit (loss) for the period before taxes | 9903 | €5,085 | €22,422 | +€17,337 | +341% |
| Income taxes | 67/77 | €325 | €3,891 | +€3,566 | +1,098% |
| Profit (loss) for the period | 9904 | €4,760 | €18,531 | +€13,771 | +289% |
| Profit (loss) for the period to be appropriated | 9905 | €4,760 | €18,531 | +€13,771 | +289% |
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 25 October 2026 via checked.be.