AVAN: 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.
What changed
AVAN
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€19,955
2024 · €5,393-€25,347
Equity
€168,239
2024 · €188,194-€19,955
Cash
€42,042
2024 · €87,126-€45,084
Balance sheet total
€413,603
2024 · €441,256-€27,653
Largest movements
Assets
- Cash -€45,084
down €45,084 (-51.7%), from €87,126 to €42,042
mainly Investment in fixed assets (net) (-€39,611) and Net result for the year (-€19,955)
- Tangible fixed assets +€13,522
up €13,522 (+4.0%), from €337,884 to €351,406
of which Land and buildings: +€14,848
Equity and liabilities
- Profit (loss) carried forward -€15,076
down €15,076, from €3,312 to -€11,764
- Reserves -€4,879
down €4,879 (-4.0%), from €122,882 to €118,004
of which Tax-exempt reserves: -€4,879
Income statement
- Gross operating margin -€23,938
down €23,938 (-72.0%), from €33,225 to €9,287
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.
Result 2024
€5,393
Gross operating margin
-€23,938
Depreciation
+€30
Other operating charges
+€152
Financial income
+€127
Financial charges
+€44
Taxes
+€17
Deferred taxes and other
-€1,780
Result 2025
-€19,955
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.
From operations
+€344
Investment
-€39,611
Financing
-€5,817
Cash 2024
€87,126
From operations (derived)
+€344
Net result for the year
-€19,955
Depreciation
+€24,132
Receivables within one year
-€1,864
Deferred charges and accrued income
-€89
Provisions
-€1,626
Trade debts
-€477
Tax, wage and social debts
-€879
Other debts
-€1,904
Accrued charges and deferred income
+€3,006
Investment (derived)
-€39,611
Investment in fixed assets (net)
-€39,611
Financing
-€5,817
Debts after one year
-€3,332
Current portion of long-term debt
-€2,485
Cash 2025
€42,042
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €441,256 | €413,603 | -€27,653 | -6.3% |
| Fixed assets | 21/28 | €352,547 | €368,025 | +€15,478 | +4.4% |
| Tangible fixed assets | 22/27 | €337,884 | €351,406 | +€13,522 | +4.0% |
| Land and buildings | 22 | €333,993 | €348,841 | +€14,848 | +4.4% |
| Plant, machinery and equipment | 23 | €3,892 | €2,565 | -€1,327 | -34.1% |
| Financial fixed assets | 28 | €14,663 | €16,619 | +€1,956 | +13.3% |
| Current assets | 29/58 | €88,708 | €45,577 | -€43,131 | -48.6% |
| Amounts receivable within one year | 40/41 | - | €1,864 | +€1,864 | |
| Trade receivables | 40 | - | €1,813 | +€1,813 | |
| Other amounts receivable | 41 | - | €51 | +€51 | |
| Cash at bank and in hand | 54/58 | €87,126 | €42,042 | -€45,084 | -51.7% |
| Deferred charges and accrued income | 490/1 | €1,582 | €1,671 | +€89 | +5.6% |
| Total equity and liabilities | 10/49 | €441,256 | €413,603 | -€27,653 | -6.3% |
| Equity | 10/15 | €188,194 | €168,239 | -€19,955 | -10.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €122,882 | €118,004 | -€4,879 | -4.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €86,682 | €81,804 | -€4,879 | -5.6% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,312 | -€11,764 | -€15,076 | |
| Provisions and deferred taxes | 16 | €28,894 | €27,268 | -€1,626 | -5.6% |
| Deferred taxes | 168 | €28,894 | €27,268 | -€1,626 | -5.6% |
| Amounts payable | 17/49 | €224,167 | €218,096 | -€6,072 | -2.7% |
| Amounts payable after more than one year | 17 | €68,071 | €64,739 | -€3,332 | -4.9% |
| Financial debts | 170/4 | €8,021 | €4,739 | -€3,282 | -40.9% |
| Other amounts payable | 178/9 | €60,050 | €60,000 | -€50 | -0.1% |
| Amounts payable within one year | 42/48 | €156,097 | €150,351 | -€5,746 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €5,733 | €3,248 | -€2,485 | -43.3% |
| Trade debts | 44 | €477 | €0 | -€477 | -100.0% |
| Suppliers | 440/4 | €477 | €0 | -€477 | -100.0% |
| Taxes, remuneration and social security | 45 | €879 | €0 | -€879 | -100.0% |
| Taxes | 450/3 | €879 | €0 | -€879 | -100.0% |
| Other amounts payable | 47/48 | €149,007 | €147,103 | -€1,904 | -1.3% |
| Accrued charges and deferred income | 492/3 | - | €3,006 | +€3,006 | |
| Non-recurring operating income | 76A | €29,039 | €0 | -€29,039 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,163 | €24,132 | -€30 | -0.1% |
| Other operating charges | 640/8 | €6,116 | €5,964 | -€152 | -2.5% |
| Gross operating margin | 9900 | €33,225 | €9,287 | -€23,938 | -72.0% |
| Operating profit (loss) | 9901 | €2,946 | -€20,809 | -€23,755 | |
| Financial income | 75/76B | €334 | €461 | +€127 | +38.1% |
| Recurring financial income | 75 | €334 | €461 | +€127 | +38.1% |
| Financial charges | 65/66B | €1,189 | €1,145 | -€44 | -3.7% |
| Recurring financial charges | 65 | €1,189 | €1,145 | -€44 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €2,091 | -€21,493 | -€23,585 | |
| Transfer from deferred taxes | 780 | €3,406 | €1,626 | -€1,780 | -52.3% |
| Income taxes | 67/77 | €105 | €88 | -€17 | -16.3% |
| Profit (loss) for the period | 9904 | €5,393 | -€19,955 | -€25,347 | |
| Transfer from tax-exempt reserves | 789 | €10,218 | €4,879 | -€5,339 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,610 | -€15,076 | -€30,686 |
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 6 October 2026 via checked.be.