AV Welding: what changed
Two fiscal 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 Welding
Largest movements
- Receivables within one year +€41,620
up €41,620 (+103.1%), from €40,353 to €81,973
of which Trade receivables: +€41,621
- Tangible fixed assets +€10,387
up €10,387 (+27.3%), from €38,062 to €48,448
of which Leasing and similar rights: +€25,990
- Cash +€8,526
up €8,526 (+4682.7%), from €182 to €8,708
mainly Depreciation (+€25,911) and Debts after one year (+€22,951)
- Stocks and contracts +€6,883
up €6,883 (+121.2%), from €5,679 to €12,562
of which Contracts in progress: +€11,589
- Intangible fixed assets -€2,000
down €2,000 (-36.4%), from €5,496 to €3,496
- Debts after one year +€22,951
up €22,951 (+232.8%), from €9,859 to €32,810
- Reserves +€19,562
up €19,562 (+87.8%), from €22,286 to €41,848
- Tax, wage and social debts +€8,016
up €8,016 (+84.1%), from €9,529 to €17,544
of which Taxes: +€5,124
- Current portion of long-term debt +€5,942
up €5,942 (+54.2%), from €10,954 to €16,896
- Short-term financial debts +€5,606
new in 2025: €5,606
- Gross operating margin +€71,403
up €71,403 (+224.4%), from €31,817 to €103,221
- Staff costs +€47,672
new in 2025: €47,672
- Depreciation +€4,048
up €4,048 (+18.5%), from €21,863 to €25,911
- Taxes +€3,177
up €3,177 (+119.4%), from €2,660 to €5,836
- Financial charges +€2,022
up €2,022 (+388.3%), from €521 to €2,543
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.
Cash bridge derived
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 | €89,816 | €155,717 | +€65,900 | +73.4% |
| Fixed assets | 21/28 | €43,558 | €51,944 | +€8,387 | +19.3% |
| Intangible fixed assets | 21 | €5,496 | €3,496 | -€2,000 | -36.4% |
| Tangible fixed assets | 22/27 | €38,062 | €48,448 | +€10,387 | +27.3% |
| Plant, machinery and equipment | 23 | €11,283 | €4,572 | -€6,712 | -59.5% |
| Furniture and vehicles | 24 | €15,123 | €7,443 | -€7,680 | -50.8% |
| Leasing and similar rights | 25 | - | €25,990 | +€25,990 | |
| Other tangible fixed assets | 26 | €11,655 | €10,443 | -€1,212 | -10.4% |
| Current assets | 29/58 | €46,259 | €103,772 | +€57,514 | +124.3% |
| Stocks and contracts in progress | 3 | €5,679 | €12,562 | +€6,883 | +121.2% |
| Stocks | 30/36 | €5,679 | €973 | -€4,706 | -82.9% |
| Contracts in progress | 37 | - | €11,589 | +€11,589 | |
| Amounts receivable within one year | 40/41 | €40,353 | €81,973 | +€41,620 | +103.1% |
| Trade receivables | 40 | €40,249 | €81,870 | +€41,621 | +103.4% |
| Other amounts receivable | 41 | €105 | €103 | -€2 | -1.5% |
| Cash at bank and in hand | 54/58 | €182 | €8,708 | +€8,526 | +4682.7% |
| Deferred charges and accrued income | 490/1 | €44 | €529 | +€485 | +1090.7% |
| Total equity and liabilities | 10/49 | €89,816 | €155,717 | +€65,900 | +73.4% |
| Equity | 10/15 | €27,286 | €46,848 | +€19,562 | +71.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,286 | €41,848 | +€19,562 | +87.8% |
| Distributable reserves | 133 | €22,286 | €41,848 | +€19,562 | +87.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €62,531 | €108,869 | +€46,338 | +74.1% |
| Amounts payable after more than one year | 17 | €9,859 | €32,810 | +€22,951 | +232.8% |
| Financial debts | 170/4 | €9,859 | €32,810 | +€22,951 | +232.8% |
| Amounts payable within one year | 42/48 | €52,495 | €76,059 | +€23,565 | +44.9% |
| Current portion of amounts payable after more than one year | 42 | €10,954 | €16,896 | +€5,942 | +54.2% |
| Financial debts | 43 | - | €5,606 | +€5,606 | |
| Credit institutions | 430/8 | - | €5,606 | +€5,606 | |
| Trade debts | 44 | €25,374 | €30,748 | +€5,374 | +21.2% |
| Suppliers | 440/4 | €25,374 | €30,748 | +€5,374 | +21.2% |
| Taxes, remuneration and social security | 45 | €9,529 | €17,544 | +€8,016 | +84.1% |
| Taxes | 450/3 | €7,156 | €12,280 | +€5,124 | +71.6% |
| Remuneration and social security | 454/9 | €2,373 | €5,264 | +€2,892 | +121.9% |
| Other amounts payable | 47/48 | €6,638 | €5,265 | -€1,373 | -20.7% |
| Accrued charges and deferred income | 492/3 | €177 | €0 | -€177 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €47,672 | +€47,672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,863 | €25,911 | +€4,048 | +18.5% |
| Other operating charges | 640/8 | €1,298 | €1,702 | +€404 | +31.1% |
| Gross operating margin | 9900 | €31,817 | €103,221 | +€71,403 | +224.4% |
| Operating profit (loss) | 9901 | €8,656 | €27,937 | +€19,280 | +222.7% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €521 | €2,543 | +€2,022 | +388.3% |
| Recurring financial charges | 65 | €521 | €2,543 | +€2,022 | +388.3% |
| Profit (loss) for the period before taxes | 9903 | €8,136 | €25,398 | +€17,262 | +212.2% |
| Income taxes | 67/77 | €2,660 | €5,836 | +€3,177 | +119.4% |
| Profit (loss) for the period | 9904 | €5,476 | €19,562 | +€14,086 | +257.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,476 | €19,562 | +€14,086 | +257.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.