AVANIM: 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.
AVANIM
Largest movements
- Stocks and contracts -€9.6m
down €9.6m (-38.0%), from €25.2m to €15.6m
- Deferred charges and accrued income -€876,946
down €876,946 (-48.1%), from €1.8m to €944,904
- Tangible fixed assets +€555,455
up €555,455 (+14.9%), from €3.7m to €4.3m
of which Land and buildings: +€576,125
- Debts after one year -€7.5m
down €7.5m (-37.0%), from €20.2m to €12.8m
of which Financial debts: -€7.5m
- Trade debts -€1.5m
down €1.5m (-97.3%), from €1.5m to €40,845
- Profit (loss) carried forward -€487,331
down €487,331, from €258,277 to -€229,054
- Gross operating margin -€373,164
down €373,164 (-42.2%), from €884,697 to €511,533
- Financial charges +€332,001
up €332,001 (+89.5%), from €370,864 to €702,865
of which Financial charges: +€333,786
- Other operating charges -€103,098
down €103,098 (-84.1%), from €122,606 to €19,508
- Depreciation +€50,876
up €50,876 (+77.2%), from €65,889 to €116,766
- Staff costs -€22,197
down €22,197 (-12.2%), from €181,224 to €159,026
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 | €31,016,467 | €21,322,526 | -€9.7m | -31.3% |
| Fixed assets | 21/28 | €3,733,268 | €4,288,723 | +€555,455 | +14.9% |
| Tangible fixed assets | 22/27 | €3,731,386 | €4,286,841 | +€555,455 | +14.9% |
| Land and buildings | 22 | €3,707,047 | €4,283,171 | +€576,125 | +15.5% |
| Furniture and vehicles | 24 | €24,339 | €3,669 | -€20,670 | -84.9% |
| Financial fixed assets | 28 | €1,882 | €1,882 | = | 0.0% |
| Current assets | 29/58 | €27,283,199 | €17,033,804 | -€10.2m | -37.6% |
| Amounts receivable after more than one year | 29 | €35,061 | €35,061 | = | 0.0% |
| Other amounts receivable | 291 | €35,061 | €35,061 | = | 0.0% |
| Stocks and contracts in progress | 3 | €25,162,114 | €15,611,794 | -€9.6m | -38.0% |
| Stocks | 30/36 | €25,162,114 | €15,611,794 | -€9.6m | -38.0% |
| Amounts receivable within one year | 40/41 | €259,180 | €436,332 | +€177,152 | +68.4% |
| Trade receivables | 40 | €135,661 | €260,568 | +€124,906 | +92.1% |
| Other amounts receivable | 41 | €123,519 | €175,764 | +€52,245 | +42.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,995 | €5,713 | +€718 | +14.4% |
| Deferred charges and accrued income | 490/1 | €1,821,850 | €944,904 | -€876,946 | -48.1% |
| Total equity and liabilities | 10/49 | €31,016,467 | €21,322,526 | -€9.7m | -31.3% |
| Equity | 10/15 | €278,277 | -€209,054 | -€487,331 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €258,277 | -€229,054 | -€487,331 | |
| Amounts payable | 17/49 | €30,738,190 | €21,531,580 | -€9.2m | -30.0% |
| Amounts payable after more than one year | 17 | €20,244,516 | €12,758,087 | -€7.5m | -37.0% |
| Financial debts | 170/4 | €20,213,410 | €12,733,979 | -€7.5m | -37.0% |
| Other amounts payable | 178/9 | €31,106 | €24,108 | -€6,998 | -22.5% |
| Amounts payable within one year | 42/48 | €10,493,674 | €8,773,493 | -€1.7m | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €125,087 | €117,075 | -€8,013 | -6.4% |
| Financial debts | 43 | €92,707 | €9,645 | -€83,062 | -89.6% |
| Credit institutions | 430/8 | €92,707 | €9,645 | -€83,062 | -89.6% |
| Trade debts | 44 | €1,505,992 | €40,845 | -€1.5m | -97.3% |
| Suppliers | 440/4 | €1,505,992 | €40,845 | -€1.5m | -97.3% |
| Taxes, remuneration and social security | 45 | €48,979 | €63,885 | +€14,906 | +30.4% |
| Taxes | 450/3 | €30,526 | €53,490 | +€22,964 | +75.2% |
| Remuneration and social security | 454/9 | €18,454 | €10,395 | -€8,058 | -43.7% |
| Other amounts payable | 47/48 | €8,720,908 | €8,542,043 | -€178,865 | -2.1% |
| Non-recurring operating income | 76A | €14,000 | €0 | -€14,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €181,224 | €159,026 | -€22,197 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,889 | €116,766 | +€50,876 | +77.2% |
| Other operating charges | 640/8 | €122,606 | €19,508 | -€103,098 | -84.1% |
| Gross operating margin | 9900 | €884,697 | €511,533 | -€373,164 | -42.2% |
| Operating profit (loss) | 9901 | €514,979 | €216,233 | -€298,746 | -58.0% |
| Financial income | 75/76B | €2 | €124 | +€122 | +5914.6% |
| Recurring financial income | 75 | €2 | €124 | +€122 | +5914.6% |
| Financial charges | 65/66B | €370,864 | €702,865 | +€332,001 | +89.5% |
| Recurring financial charges | 65 | €369,079 | €702,865 | +€333,786 | +90.4% |
| Non-recurring financial charges | 66B | €1,785 | €0 | -€1,785 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €144,116 | -€486,508 | -€630,625 | |
| Income taxes | 67/77 | -€2,284 | €823 | +€3,107 | |
| Profit (loss) for the period | 9904 | €146,400 | -€487,331 | -€633,732 | |
| Profit (loss) for the period to be appropriated | 9905 | €146,400 | -€487,331 | -€633,732 |
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.