AVAD: 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.
AVAD
Largest movements
- Cash -€31,858
down €31,858 (-51.6%), from €61,731 to €29,872
mainly Contributions, distributions and other (-€83,878) and Investment in fixed assets (net) (-€11,831)
- Tangible fixed assets -€13,256
down €13,256 (-19.4%), from €68,281 to €55,025
of which Furniture and vehicles: -€24,574
- Receivables within one year +€4,353
up €4,353 (+37.3%), from €11,666 to €16,019
of which Other amounts receivable: +€2,926
- Reserves -€68,326
down €68,326 (-100.0%), from €68,326 to €0
- Other debts +€24,111
up €24,111 (+91.9%), from €26,244 to €50,355
- Tax, wage and social debts +€6,634
up €6,634 (+72.9%), from €9,105 to €15,739
of which Taxes: +€4,634
- Debts after one year -€6,178
down €6,178 (-57.0%), from €10,837 to €4,659
- Current portion of long-term debt +€1,857
up €1,857 (+20.9%), from €8,866 to €10,723
- Gross operating margin +€25,352
up €25,352 (+62.7%), from €40,462 to €65,815
- Other operating charges +€12,679
up €12,679 (+1113.5%), from €1,139 to €13,818
- Depreciation +€852
up €852 (+3.5%), from €24,234 to €25,086
- Financial income -€728
down €728 (-83.8%), from €869 to €141
- Taxes +€717
up €717 (+18.4%), from €3,900 to €4,617
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 | €142,628 | €101,181 | -€41,447 | -29.1% |
| Fixed assets | 21/28 | €68,381 | €55,125 | -€13,256 | -19.4% |
| Tangible fixed assets | 22/27 | €68,281 | €55,025 | -€13,256 | -19.4% |
| Plant, machinery and equipment | 23 | - | €11,318 | +€11,318 | |
| Furniture and vehicles | 24 | €68,281 | €43,707 | -€24,574 | -36.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €74,247 | €46,056 | -€28,191 | -38.0% |
| Amounts receivable within one year | 40/41 | €11,666 | €16,019 | +€4,353 | +37.3% |
| Trade receivables | 40 | €11,614 | €13,041 | +€1,427 | +12.3% |
| Other amounts receivable | 41 | €52 | €2,978 | +€2,926 | +5633.9% |
| Cash at bank and in hand | 54/58 | €61,731 | €29,872 | -€31,858 | -51.6% |
| Deferred charges and accrued income | 490/1 | €851 | €165 | -€686 | -80.6% |
| Total equity and liabilities | 10/49 | €142,628 | €101,181 | -€41,447 | -29.1% |
| Equity | 10/15 | €86,926 | €18,600 | -€68,326 | -78.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,326 | €0 | -€68,326 | -100.0% |
| Distributable reserves | 133 | €68,326 | €0 | -€68,326 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,702 | €82,581 | +€26,879 | +48.3% |
| Amounts payable after more than one year | 17 | €10,837 | €4,659 | -€6,178 | -57.0% |
| Financial debts | 170/4 | €10,837 | €4,659 | -€6,178 | -57.0% |
| Amounts payable within one year | 42/48 | €44,865 | €77,121 | +€32,257 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €8,866 | €10,723 | +€1,857 | +20.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €649 | €304 | -€345 | -53.2% |
| Suppliers | 440/4 | €649 | €304 | -€345 | -53.2% |
| Taxes, remuneration and social security | 45 | €9,105 | €15,739 | +€6,634 | +72.9% |
| Taxes | 450/3 | €9,105 | €13,739 | +€4,634 | +50.9% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €26,244 | €50,355 | +€24,111 | +91.9% |
| Accrued charges and deferred income | 492/3 | - | €800 | +€800 | |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,234 | €25,086 | +€852 | +3.5% |
| Other operating charges | 640/8 | €1,139 | €13,818 | +€12,679 | +1113.5% |
| Non-recurring operating charges | 66A | - | €5,621 | +€5,621 | |
| Gross operating margin | 9900 | €40,462 | €65,815 | +€25,352 | +62.7% |
| Operating profit (loss) | 9901 | €15,090 | €21,289 | +€6,200 | +41.1% |
| Financial income | 75/76B | €869 | €141 | -€728 | -83.8% |
| Recurring financial income | 75 | €869 | €141 | -€728 | -83.8% |
| Financial charges | 65/66B | €1,260 | €1,262 | +€2 | +0.1% |
| Recurring financial charges | 65 | €1,260 | €1,262 | +€2 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €14,699 | €20,168 | +€5,470 | +37.2% |
| Income taxes | 67/77 | €3,900 | €4,617 | +€717 | +18.4% |
| Profit (loss) for the period | 9904 | €10,799 | €15,552 | +€4,753 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,799 | €15,552 | +€4,753 | +44.0% |
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 7 October 2026 via checked.be.