AVADIS: 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.
AVADIS
Largest movements
- Receivables within one year -€50,143
down €50,143 (-13.0%), from €386,395 to €336,252
of which Trade receivables: -€139,390
- Stocks and contracts -€21,935
down €21,935 (-20.5%), from €107,102 to €85,167
- Cash -€18,119
down €18,119 (-26.6%), from €68,137 to €50,019
mainly Net result for the year (-€92,226) and Trade debts (-€69,761)
- Tangible fixed assets -€10,482
down €10,482 (-33.2%), from €31,589 to €21,107
- Short-term financial debts +€100,004
up €100,004 (+1,181%), from €8,466 to €108,469
- Profit (loss) carried forward -€92,226
down €92,226 (-57.1%), from €161,439 to €69,213
- Trade debts -€69,761
down €69,761 (-60.5%), from €115,368 to €45,607
- Tax, wage and social debts -€41,388
down €41,388 (-48.7%), from €84,912 to €43,524
of which Taxes: -€31,229
- Advances received +€17,302
new in 2025: €17,302
- Gross operating margin -€124,533
down €124,533 (-47.1%), from €264,533 to €140,000
- Staff costs +€43,312
up €43,312 (+25.2%), from €171,636 to €214,948
- Taxes -€12,997
down €12,997 (-97.1%), from €13,380 to €383
- Depreciation -€9,142
down €9,142 (-46.6%), from €19,624 to €10,482
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 | €598,887 | €500,883 | -€98,004 | -16.4% |
| Fixed assets | 21/28 | €31,589 | €21,107 | -€10,482 | -33.2% |
| Tangible fixed assets | 22/27 | €31,589 | €21,107 | -€10,482 | -33.2% |
| Furniture and vehicles | 24 | €31,589 | €21,107 | -€10,482 | -33.2% |
| Current assets | 29/58 | €567,298 | €479,776 | -€87,522 | -15.4% |
| Stocks and contracts in progress | 3 | €107,102 | €85,167 | -€21,935 | -20.5% |
| Stocks | 30/36 | €107,102 | €85,167 | -€21,935 | -20.5% |
| Amounts receivable within one year | 40/41 | €386,395 | €336,252 | -€50,143 | -13.0% |
| Trade receivables | 40 | €344,347 | €204,956 | -€139,390 | -40.5% |
| Other amounts receivable | 41 | €42,048 | €131,296 | +€89,248 | +212% |
| Cash at bank and in hand | 54/58 | €68,137 | €50,019 | -€18,119 | -26.6% |
| Deferred charges and accrued income | 490/1 | €5,665 | €8,339 | +€2,674 | +47.2% |
| Total equity and liabilities | 10/49 | €598,887 | €500,883 | -€98,004 | -16.4% |
| Equity | 10/15 | €351,899 | €259,673 | -€92,226 | -26.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €170,000 | €170,000 | = | 0.0% |
| Distributable reserves | 133 | €170,000 | €170,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,439 | €69,213 | -€92,226 | -57.1% |
| Amounts payable | 17/49 | €246,988 | €241,210 | -€5,778 | -2.3% |
| Amounts payable after more than one year | 17 | €24,472 | €15,737 | -€8,735 | -35.7% |
| Financial debts | 170/4 | €24,472 | €15,737 | -€8,735 | -35.7% |
| Amounts payable within one year | 42/48 | €222,517 | €224,281 | +€1,765 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €9,160 | €8,735 | -€425 | -4.6% |
| Financial debts | 43 | €8,466 | €108,469 | +€100,004 | +1,181% |
| Other loans | 439 | €8,466 | €108,469 | +€100,004 | +1,181% |
| Trade debts | 44 | €115,368 | €45,607 | -€69,761 | -60.5% |
| Suppliers | 440/4 | €115,368 | €45,607 | -€69,761 | -60.5% |
| Advances received on contracts in progress | 46 | - | €17,302 | +€17,302 | |
| Taxes, remuneration and social security | 45 | €84,912 | €43,524 | -€41,388 | -48.7% |
| Taxes | 450/3 | €54,698 | €23,468 | -€31,229 | -57.1% |
| Remuneration and social security | 454/9 | €30,214 | €20,055 | -€10,159 | -33.6% |
| Other amounts payable | 47/48 | €4,610 | €645 | -€3,966 | -86.0% |
| Accrued charges and deferred income | 492/3 | - | €1,192 | +€1,192 | |
| Remuneration, social security and pensions | 62 | €171,636 | €214,948 | +€43,312 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,624 | €10,482 | -€9,142 | -46.6% |
| Other operating charges | 640/8 | €1,193 | €802 | -€391 | -32.8% |
| Gross operating margin | 9900 | €264,533 | €140,000 | -€124,533 | -47.1% |
| Operating profit (loss) | 9901 | €72,080 | -€86,232 | -€158,311 | |
| Financial income | 75/76B | €870 | €810 | -€60 | -6.9% |
| Recurring financial income | 75 | €870 | €810 | -€60 | -6.9% |
| Financial charges | 65/66B | €5,070 | €6,422 | +€1,352 | +26.7% |
| Recurring financial charges | 65 | €5,070 | €6,422 | +€1,352 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €67,880 | -€91,843 | -€159,723 | |
| Income taxes | 67/77 | €13,380 | €383 | -€12,997 | -97.1% |
| Profit (loss) for the period | 9904 | €54,500 | -€92,226 | -€146,726 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,500 | -€92,226 | -€146,726 |
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 20 October 2026 via checked.be.