AVAL INVEST: what changed
AVAL INVEST
Largest movements
- Cash +€64,383
up €64,383 (+58.5%), from €110,014 to €174,397
mainly Other debts (+€45,957) and Trade debts (+€44,635)
- Receivables within one year +€21,651
up €21,651 (+99.6%), from €21,740 to €43,392
of which Other amounts receivable: +€40,417
- Tangible fixed assets -€7,984
down €7,984 (-7.4%), from €107,827 to €99,842
of which Furniture and vehicles: -€17,256
- Other debts +€45,957
up €45,957 (+112%), from €41,192 to €87,149
- Trade debts +€44,635
up €44,635 (+1,953%), from €2,286 to €46,921
- Reserves -€6,457
down €6,457 (-3.4%), from €189,011 to €182,554
- Tax, wage and social debts -€5,806
down €5,806 (-66.1%), from €8,781 to €2,975
- Gross operating margin -€23,742
down €23,742 (-21.5%), from €110,588 to €86,846
- Taxes -€4,191
down €4,191 (-24.6%), from €17,024 to €12,833
- Depreciation +€1,826
up €1,826 (+7.3%), from €25,179 to €27,005
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €242,270 | €320,599 | +€78,330 | +32.3% |
| Fixed assets | 21/28 | €107,827 | €99,842 | -€7,984 | -7.4% |
| Tangible fixed assets | 22/27 | €107,827 | €99,842 | -€7,984 | -7.4% |
| Furniture and vehicles | 24 | €69,167 | €51,911 | -€17,256 | -24.9% |
| Other tangible fixed assets | 26 | €38,660 | €47,932 | +€9,272 | +24.0% |
| Current assets | 29/58 | €134,443 | €220,757 | +€86,314 | +64.2% |
| Amounts receivable within one year | 40/41 | €21,740 | €43,392 | +€21,651 | +99.6% |
| Trade receivables | 40 | €20,187 | €1,422 | -€18,765 | -93.0% |
| Other amounts receivable | 41 | €1,553 | €41,970 | +€40,417 | +2,602% |
| Cash at bank and in hand | 54/58 | €110,014 | €174,397 | +€64,383 | +58.5% |
| Deferred charges and accrued income | 490/1 | €2,689 | €2,969 | +€280 | +10.4% |
| Total equity and liabilities | 10/49 | €242,270 | €320,599 | +€78,330 | +32.3% |
| Equity | 10/15 | €190,011 | €183,554 | -€6,457 | -3.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €189,011 | €182,554 | -€6,457 | -3.4% |
| Distributable reserves | 133 | €189,011 | €182,554 | -€6,457 | -3.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,259 | €137,045 | +€84,787 | +162% |
| Amounts payable within one year | 42/48 | €52,259 | €137,045 | +€84,787 | +162% |
| Trade debts | 44 | €2,286 | €46,921 | +€44,635 | +1,953% |
| Suppliers | 440/4 | €2,286 | €46,921 | +€44,635 | +1,953% |
| Taxes, remuneration and social security | 45 | €8,781 | €2,975 | -€5,806 | -66.1% |
| Taxes | 450/3 | €8,781 | €2,975 | -€5,806 | -66.1% |
| Other amounts payable | 47/48 | €41,192 | €87,149 | +€45,957 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,179 | €27,005 | +€1,826 | +7.3% |
| Other operating charges | 640/8 | €1,432 | €1,426 | -€6 | -0.4% |
| Non-recurring operating charges | 66A | €4,332 | €0 | -€4,332 | -100% |
| Gross operating margin | 9900 | €110,588 | €86,846 | -€23,742 | -21.5% |
| Operating profit (loss) | 9901 | €79,646 | €58,415 | -€21,230 | -26.7% |
| Financial income | 75/76B | €712 | €694 | -€18 | -2.5% |
| Recurring financial income | 75 | €712 | €694 | -€18 | -2.5% |
| Financial charges | 65/66B | €3,272 | €2,733 | -€540 | -16.5% |
| Recurring financial charges | 65 | €3,272 | €2,733 | -€540 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €77,085 | €56,377 | -€20,709 | -26.9% |
| Income taxes | 67/77 | €17,024 | €12,833 | -€4,191 | -24.6% |
| Profit (loss) for the period | 9904 | €60,061 | €43,543 | -€16,518 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,061 | €43,543 | -€16,518 | -27.5% |
Next steps
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 2 November 2026 via checked.be.