AV-VASTGOED: what changed
What changed
AV-VASTGOED
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€3,889
2024 · €38,534-€34,645
Equity
€176,961
2024 · €202,630-€25,669
Cash
€179,813
2024 · €215,786-€35,974
Balance sheet total
€316,180
2024 · €346,107-€29,927
Largest movements
Assets
- Cash -€35,974
down €35,974 (-16.7%), from €215,786 to €179,813
mainly Contributions, distributions and other (-€29,558) and Receivables within one year (-€18,525)
- Receivables within one year +€18,525
up €18,525 (+229%), from €8,099 to €26,624
of which Trade receivables: +€19,406
- Tangible fixed assets -€12,698
down €12,698 (-11.2%), from €113,521 to €100,823
of which Land and buildings: -€12,886
Equity and liabilities
- Reserves -€25,669
down €25,669 (-15.3%), from €167,705 to €142,036
of which Distributable reserves: -€25,669
- Debts after one year -€9,932
down €9,932 (-10.9%), from €90,928 to €80,995
- Short-term financial debts +€5,500
new in 2025: €5,500
Income statement
- Gross operating margin -€49,165
down €49,165 (-58.4%), from €84,164 to €35,000
- Taxes -€13,711
down €13,711 (-74.4%), from €18,427 to €4,716
- Depreciation +€883
up €883 (+4.9%), from €18,154 to €19,037
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
€38,534
Gross operating margin
-€49,165
Depreciation
-€883
Other operating charges
+€515
Financial income
+€572
Financial charges
+€605
Taxes
+€13,711
Result 2025
€3,889
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
+€3,894
Investment
-€6,340
Financing
-€33,528
Cash 2024
€215,786
From operations (derived)
+€3,894
Net result for the year
+€3,889
Depreciation
+€19,037
Receivables within one year
-€18,525
Deferred charges and accrued income
-€219
Trade debts
-€2,020
Tax, wage and social debts
+€249
Other debts
+€1,482
Investment (derived)
-€6,340
Investment in fixed assets (net)
-€6,340
Financing
-€33,528
Debts after one year
-€9,932
Current portion of long-term debt
+€463
Short-term financial debts
+€5,500
Contributions, distributions and other
-€29,558
Cash 2025
€179,813
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €346,107 | €316,180 | -€29,927 | -8.6% |
| Fixed assets | 21/28 | €113,521 | €100,823 | -€12,698 | -11.2% |
| Tangible fixed assets | 22/27 | €113,521 | €100,823 | -€12,698 | -11.2% |
| Land and buildings | 22 | €104,817 | €91,930 | -€12,886 | -12.3% |
| Plant, machinery and equipment | 23 | €4,123 | €4,565 | +€442 | +10.7% |
| Furniture and vehicles | 24 | €4,582 | €4,328 | -€254 | -5.5% |
| Current assets | 29/58 | €232,586 | €215,357 | -€17,229 | -7.4% |
| Amounts receivable within one year | 40/41 | €8,099 | €26,624 | +€18,525 | +229% |
| Trade receivables | 40 | €5,921 | €25,327 | +€19,406 | +328% |
| Other amounts receivable | 41 | €2,177 | €1,297 | -€880 | -40.4% |
| Cash at bank and in hand | 54/58 | €215,786 | €179,813 | -€35,974 | -16.7% |
| Deferred charges and accrued income | 490/1 | €8,701 | €8,920 | +€219 | +2.5% |
| Total equity and liabilities | 10/49 | €346,107 | €316,180 | -€29,927 | -8.6% |
| Equity | 10/15 | €202,630 | €176,961 | -€25,669 | -12.7% |
| Contributions | 10/11 | €15,400 | €15,400 | = | 0.0% |
| Reserves | 13 | €167,705 | €142,036 | -€25,669 | -15.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €154,845 | €129,176 | -€25,669 | -16.6% |
| Profit (loss) carried forward | 14 | €19,526 | €19,526 | = | 0.0% |
| Amounts payable | 17/49 | €143,477 | €139,219 | -€4,258 | -3.0% |
| Amounts payable after more than one year | 17 | €90,928 | €80,995 | -€9,932 | -10.9% |
| Financial debts | 170/4 | €90,928 | €80,995 | -€9,932 | -10.9% |
| Amounts payable within one year | 42/48 | €52,549 | €58,223 | +€5,675 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €9,469 | €9,932 | +€463 | +4.9% |
| Financial debts | 43 | - | €5,500 | +€5,500 | |
| Credit institutions | 430/8 | - | €5,500 | +€5,500 | |
| Trade debts | 44 | €5,441 | €3,421 | -€2,020 | -37.1% |
| Suppliers | 440/4 | €5,441 | €3,421 | -€2,020 | -37.1% |
| Taxes, remuneration and social security | 45 | €4,408 | €4,658 | +€249 | +5.7% |
| Taxes | 450/3 | €4,408 | €4,658 | +€249 | +5.7% |
| Other amounts payable | 47/48 | €33,230 | €34,712 | +€1,482 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,154 | €19,037 | +€883 | +4.9% |
| Other operating charges | 640/8 | €3,709 | €3,194 | -€515 | -13.9% |
| Gross operating margin | 9900 | €84,164 | €35,000 | -€49,165 | -58.4% |
| Operating profit (loss) | 9901 | €62,301 | €12,769 | -€49,532 | -79.5% |
| Financial income | 75/76B | €400 | €971 | +€572 | +143% |
| Recurring financial income | 75 | €400 | €971 | +€572 | +143% |
| Financial charges | 65/66B | €5,739 | €5,134 | -€605 | -10.5% |
| Recurring financial charges | 65 | €5,739 | €5,134 | -€605 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €56,962 | €8,606 | -€48,356 | -84.9% |
| Income taxes | 67/77 | €18,427 | €4,716 | -€13,711 | -74.4% |
| Profit (loss) for the period | 9904 | €38,534 | €3,889 | -€34,645 | -89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,534 | €3,889 | -€34,645 | -89.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.