AVALO: 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.
AVALO
Largest movements
- Tangible fixed assets -€5,024
down €5,024 (-29.0%), from €17,320 to €12,296
of which Furniture and vehicles: -€3,295
- Receivables within one year +€4,171
up €4,171 (+12.8%), from €32,531 to €36,702
of which Trade receivables: +€11,467
- Cash +€3,685
up €3,685 (+11.6%), from €31,869 to €35,553
mainly Trade debts (+€10,845) and Other debts (+€10,282)
- Reserves -€13,966
down €13,966 (-16.0%), from €87,526 to €73,560
of which Distributable reserves: -€13,966
- Trade debts +€10,845
up €10,845 (+155%), from €7,010 to €17,856
- Other debts +€10,282
up €10,282, from €0 to €10,282
- Debts after one year -€3,443
down €3,443 (-100%), from €3,443 to €0
- Tax, wage and social debts -€1,448
down €1,448 (-23.1%), from €6,261 to €4,813
- Gross operating margin -€15,034
down €15,034 (-51.8%), from €28,999 to €13,965
- Taxes -€5,108
down €5,108 (-64.2%), from €7,956 to €2,848
- Depreciation -€358
down €358 (-6.7%), from €5,382 to €5,024
- Financial income -€350
down €350 (-48.6%), from €720 to €371
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 | €126,155 | €128,571 | +€2,415 | +1.9% |
| Fixed assets | 21/28 | €17,320 | €12,296 | -€5,024 | -29.0% |
| Tangible fixed assets | 22/27 | €17,320 | €12,296 | -€5,024 | -29.0% |
| Plant, machinery and equipment | 23 | €4,040 | €2,686 | -€1,355 | -33.5% |
| Furniture and vehicles | 24 | €11,299 | €8,003 | -€3,295 | -29.2% |
| Other tangible fixed assets | 26 | €1,981 | €1,607 | -€374 | -18.9% |
| Current assets | 29/58 | €108,835 | €116,274 | +€7,439 | +6.8% |
| Stocks and contracts in progress | 3 | €43,960 | €43,172 | -€788 | -1.8% |
| Stocks | 30/36 | €43,960 | €43,172 | -€788 | -1.8% |
| Amounts receivable within one year | 40/41 | €32,531 | €36,702 | +€4,171 | +12.8% |
| Trade receivables | 40 | €23,907 | €35,374 | +€11,467 | +48.0% |
| Other amounts receivable | 41 | €8,624 | €1,328 | -€7,296 | -84.6% |
| Cash at bank and in hand | 54/58 | €31,869 | €35,553 | +€3,685 | +11.6% |
| Deferred charges and accrued income | 490/1 | €475 | €847 | +€372 | +78.3% |
| Total equity and liabilities | 10/49 | €126,155 | €128,571 | +€2,415 | +1.9% |
| Equity | 10/15 | €106,126 | €92,160 | -€13,966 | -13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,526 | €73,560 | -€13,966 | -16.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €87,526 | €73,560 | -€13,966 | -16.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,029 | €36,411 | +€16,382 | +81.8% |
| Amounts payable after more than one year | 17 | €3,443 | €0 | -€3,443 | -100% |
| Financial debts | 170/4 | €3,443 | €0 | -€3,443 | -100% |
| Amounts payable within one year | 42/48 | €16,570 | €36,393 | +€19,824 | +120% |
| Current portion of amounts payable after more than one year | 42 | €3,298 | €3,443 | +€144 | +4.4% |
| Trade debts | 44 | €7,010 | €17,856 | +€10,845 | +155% |
| Suppliers | 440/4 | €7,010 | €17,856 | +€10,845 | +155% |
| Taxes, remuneration and social security | 45 | €6,261 | €4,813 | -€1,448 | -23.1% |
| Taxes | 450/3 | €6,261 | €4,813 | -€1,448 | -23.1% |
| Other amounts payable | 47/48 | €0 | €10,282 | +€10,282 | |
| Accrued charges and deferred income | 492/3 | €17 | €18 | +€1 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,382 | €5,024 | -€358 | -6.7% |
| Other operating charges | 640/8 | €1,128 | €997 | -€131 | -11.6% |
| Non-recurring operating charges | 66A | €155 | €0 | -€155 | -100% |
| Gross operating margin | 9900 | €28,999 | €13,965 | -€15,034 | -51.8% |
| Operating profit (loss) | 9901 | €22,334 | €7,944 | -€14,390 | -64.4% |
| Financial income | 75/76B | €720 | €371 | -€350 | -48.6% |
| Recurring financial income | 75 | €720 | €371 | -€350 | -48.6% |
| Financial charges | 65/66B | €563 | €633 | +€70 | +12.4% |
| Recurring financial charges | 65 | €563 | €633 | +€70 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €22,491 | €7,682 | -€14,810 | -65.8% |
| Income taxes | 67/77 | €7,956 | €2,848 | -€5,108 | -64.2% |
| Profit (loss) for the period | 9904 | €14,535 | €4,834 | -€9,702 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,535 | €4,834 | -€9,702 | -66.7% |
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 14 October 2026 via checked.be.