AV-TRADING: what changed
What changed
AV-TRADING
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€925,055
2024 · €134,484+€790,572
Equity
€1.8m
2024 · €919,783+€925,055
Cash
€38,616
2024 · €168,944-€130,328
Balance sheet total
€9.7m
2024 · €8.6m+€1.1m
Largest movements
Assets
- Current investments +€1.3m
up €1.3m (+24.3%), from €5.5m to €6.9m
- Cash -€130,328
down €130,328 (-77.1%), from €168,944 to €38,616
mainly Current investments (-€1.3m) and Investment in fixed assets (net) (-€29,139)
Equity and liabilities
- Reserves +€781,200
new in 2025: €781,200
of which Distributable reserves: +€675,000
- Other debts +€198,948
up €198,948 (+2.6%), from €7.6m to €7.8m
- Profit (loss) carried forward +€143,855
up €143,855, from -€142,217 to €1,638
Income statement
- Financial income +€975,883
up €975,883 (+527%), from €185,091 to €1.2m
- Financial charges +€140,625
up €140,625, from -€32,013 to €108,612
- Gross operating margin -€39,522
down €39,522 (-84.2%), from €46,951 to €7,429
- Depreciation +€5,733
up €5,733 (+4.9%), from €117,675 to €123,408
- Other operating charges -€570
down €570 (-4.8%), from €11,896 to €11,327
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€134,484
Gross operating margin
-€39,522
Depreciation
-€5,733
Other operating charges
+€570
Financial income
+€975,883
Financial charges
-€140,625
Result 2025
€925,055
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.2m
Investment
-€1.4m
Financing
€0
Cash 2024
€168,944
From operations (derived)
+€1.2m
Net result for the year
+€925,055
Depreciation
+€123,408
Receivables within one year
-€7,445
Smaller working-capital items
-€1,678
Trade debts
+€5,987
Other debts
+€198,948
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€29,139
Current investments
-€1.3m
Cash 2025
€38,616
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,559,734 | €9,689,725 | +€1.1m | +13.2% |
| Fixed assets | 21/28 | €2,819,734 | €2,725,466 | -€94,269 | -3.3% |
| Tangible fixed assets | 22/27 | €2,819,734 | €2,725,466 | -€94,269 | -3.3% |
| Land and buildings | 22 | €2,819,623 | €2,725,450 | -€94,173 | -3.3% |
| Furniture and vehicles | 24 | €111 | €16 | -€95 | -85.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €5,740,000 | €6,964,259 | +€1.2m | +21.3% |
| Amounts receivable within one year | 40/41 | €35,036 | €42,481 | +€7,445 | +21.3% |
| Trade receivables | 40 | €2,137 | €3,363 | +€1,226 | +57.4% |
| Other amounts receivable | 41 | €32,899 | €39,118 | +€6,219 | +18.9% |
| Current investments | 50/53 | €5,527,093 | €6,872,557 | +€1.3m | +24.3% |
| Cash at bank and in hand | 54/58 | €168,944 | €38,616 | -€130,328 | -77.1% |
| Deferred charges and accrued income | 490/1 | €8,927 | €10,604 | +€1,678 | +18.8% |
| Total equity and liabilities | 10/49 | €8,559,734 | €9,689,725 | +€1.1m | +13.2% |
| Equity | 10/15 | €919,783 | €1,844,838 | +€925,055 | +101% |
| Contributions | 10/11 | €1,062,000 | €1,062,000 | = | 0.0% |
| Capital | 10 | €1,062,000 | €1,062,000 | = | 0.0% |
| Issued capital | 100 | €1,062,000 | €1,062,000 | = | 0.0% |
| Reserves | 13 | - | €781,200 | +€781,200 | |
| Non-distributable reserves | 130/1 | - | €106,200 | +€106,200 | |
| Legal reserve | 130 | - | €106,200 | +€106,200 | |
| Distributable reserves | 133 | - | €675,000 | +€675,000 | |
| Profit (loss) carried forward | 14 | -€142,217 | €1,638 | +€143,855 | |
| Amounts payable | 17/49 | €7,639,951 | €7,844,887 | +€204,935 | +2.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €7,639,951 | €7,844,887 | +€204,935 | +2.7% |
| Trade debts | 44 | €16,602 | €22,589 | +€5,987 | +36.1% |
| Suppliers | 440/4 | €16,602 | €22,589 | +€5,987 | +36.1% |
| Taxes, remuneration and social security | 45 | €19 | €19 | -€0 | -0.1% |
| Taxes | 450/3 | €19 | €19 | -€0 | -0.1% |
| Other amounts payable | 47/48 | €7,623,331 | €7,822,279 | +€198,948 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,675 | €123,408 | +€5,733 | +4.9% |
| Other operating charges | 640/8 | €11,896 | €11,327 | -€570 | -4.8% |
| Gross operating margin | 9900 | €46,951 | €7,429 | -€39,522 | -84.2% |
| Operating profit (loss) | 9901 | -€82,621 | -€127,306 | -€44,685 | -54.1% |
| Financial income | 75/76B | €185,091 | €1,160,974 | +€975,883 | +527% |
| Recurring financial income | 75 | €185,091 | €1,160,974 | +€975,883 | +527% |
| Financial charges | 65/66B | -€32,013 | €108,612 | +€140,625 | |
| Recurring financial charges | 65 | -€32,013 | €108,612 | +€140,625 | |
| Profit (loss) for the period before taxes | 9903 | €134,484 | €925,055 | +€790,572 | +588% |
| Profit (loss) for the period | 9904 | €134,484 | €925,055 | +€790,572 | +588% |
| Profit (loss) for the period to be appropriated | 9905 | €134,484 | €925,055 | +€790,572 | +588% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.