AVALON: 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.
AVALON
Largest movements
- Cash +€357,639
up €357,639 (+122.1%), from €292,875 to €650,514
mainly Net result for the year (+€289,723) and Tax, wage and social debts (+€100,340)
- Financial fixed assets +€100,000
new in 2025: €100,000
- Tangible fixed assets -€48,373
down €48,373 (-12.0%), from €402,982 to €354,610
of which Land and buildings: -€45,229
- Stocks and contracts -€20,331
no longer reported in 2025 (was €20,331)
- Reserves +€189,723
up €189,723 (+112.2%), from €169,032 to €358,754
of which Distributable reserves: +€189,723
- Tax, wage and social debts +€100,340
up €100,340 (+265.9%), from €37,731 to €138,072
of which Taxes: +€102,279
- Other debts +€100,000
up €100,000 (+17149.7%), from €583 to €100,583
- Debts after one year -€39,502
down €39,502 (-13.6%), from €289,963 to €250,461
- Trade debts +€38,416
up €38,416 (+362.5%), from €10,597 to €49,013
- Financial income +€351,504
up €351,504 (+21906.6%), from €1,605 to €353,108
of which Non-recurring financial income: +€351,149
- Taxes +€67,669
up €67,669 (+323.3%), from €20,933 to €88,602
- Other operating charges +€26,432
up €26,432 (+543.9%), from €4,860 to €31,292
- Gross operating margin -€24,680
down €24,680 (-16.8%), from €147,330 to €122,650
- Depreciation -€9,841
down €9,841 (-22.4%), from €43,976 to €34,135
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 | €717,543 | €1,106,423 | +€388,880 | +54.2% |
| Fixed assets | 21/28 | €402,982 | €454,610 | +€51,627 | +12.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €402,982 | €354,610 | -€48,373 | -12.0% |
| Land and buildings | 22 | €389,869 | €344,640 | -€45,229 | -11.6% |
| Plant, machinery and equipment | 23 | €10,074 | - | -€10,074 | |
| Furniture and vehicles | 24 | €3,040 | €9,969 | +€6,929 | +227.9% |
| Financial fixed assets | 28 | - | €100,000 | +€100,000 | |
| Current assets | 29/58 | €314,561 | €651,813 | +€337,252 | +107.2% |
| Stocks and contracts in progress | 3 | €20,331 | - | -€20,331 | |
| Stocks | 30/36 | €20,331 | - | -€20,331 | |
| Cash at bank and in hand | 54/58 | €292,875 | €650,514 | +€357,639 | +122.1% |
| Deferred charges and accrued income | 490/1 | €1,354 | €1,299 | -€55 | -4.1% |
| Total equity and liabilities | 10/49 | €717,543 | €1,106,423 | +€388,880 | +54.2% |
| Equity | 10/15 | €346,959 | €535,849 | +€188,890 | +54.4% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €169,032 | €358,754 | +€189,723 | +112.2% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,991 | €6,991 | = | 0.0% |
| Distributable reserves | 133 | €160,790 | €350,513 | +€189,723 | +118.0% |
| Profit (loss) carried forward | 14 | €109,378 | €108,545 | -€833 | -0.8% |
| Amounts payable | 17/49 | €370,584 | €570,574 | +€199,990 | +54.0% |
| Amounts payable after more than one year | 17 | €289,963 | €250,461 | -€39,502 | -13.6% |
| Financial debts | 170/4 | €289,963 | €250,461 | -€39,502 | -13.6% |
| Amounts payable within one year | 42/48 | €80,621 | €320,093 | +€239,472 | +297.0% |
| Current portion of amounts payable after more than one year | 42 | €31,710 | €32,426 | +€716 | +2.3% |
| Trade debts | 44 | €10,597 | €49,013 | +€38,416 | +362.5% |
| Suppliers | 440/4 | €10,597 | €49,013 | +€38,416 | +362.5% |
| Taxes, remuneration and social security | 45 | €37,731 | €138,072 | +€100,340 | +265.9% |
| Taxes | 450/3 | €35,775 | €138,054 | +€102,279 | +285.9% |
| Remuneration and social security | 454/9 | €1,956 | €17 | -€1,939 | -99.1% |
| Other amounts payable | 47/48 | €583 | €100,583 | +€100,000 | +17149.7% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Remuneration, social security and pensions | 62 | €29,310 | €24,866 | -€4,443 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,976 | €34,135 | -€9,841 | -22.4% |
| Other operating charges | 640/8 | €4,860 | €31,292 | +€26,432 | +543.9% |
| Gross operating margin | 9900 | €147,330 | €122,650 | -€24,680 | -16.8% |
| Operating profit (loss) | 9901 | €69,184 | €32,356 | -€36,828 | -53.2% |
| Financial income | 75/76B | €1,605 | €353,108 | +€351,504 | +21906.6% |
| Recurring financial income | 75 | €1,605 | €1,959 | +€355 | +22.1% |
| Non-recurring financial income | 76B | - | €351,149 | +€351,149 | |
| Financial charges | 65/66B | €10,894 | €7,139 | -€3,755 | -34.5% |
| Recurring financial charges | 65 | €10,894 | €7,139 | -€3,755 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €59,894 | €378,325 | +€318,431 | +531.7% |
| Income taxes | 67/77 | €20,933 | €88,602 | +€67,669 | +323.3% |
| Profit (loss) for the period | 9904 | €38,960 | €289,723 | +€250,762 | +643.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,960 | €289,723 | +€250,762 | +643.6% |
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 11 October 2026 via checked.be.