AVARCO: 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.
AVARCO
Largest movements
- Tangible fixed assets +€117,487
new in 2025: €117,487
- Cash +€5,524
up €5,524 (+337.9%), from €1,635 to €7,159
mainly Debts after one year (+€90,000) and Net result for the year (+€21,686)
- Stocks and contracts -€2,750
no longer reported in 2025 (was €2,750)
- Debts after one year +€90,000
new in 2025: €90,000
- Reserves +€22,019
up €22,019 (+92.3%), from €23,863 to €45,882
of which Distributable reserves: +€22,019
- Trade debts +€5,424
up €5,424 (+1857.5%), from €292 to €5,716
- Tax, wage and social debts +€3,280
new in 2025: €3,280
- Gross operating margin +€42,126
up €42,126 (+2683.2%), from €1,570 to €43,696
- Depreciation +€16,665
new in 2025: €16,665
- Taxes +€3,412
up €3,412 (+1404.1%), from €243 to €3,655
- Write-downs +€2,905
new in 2025: €2,905
- Financial income +€1,813
new in 2025: €1,813
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 | €43,088 | €163,478 | +€120,390 | +279.4% |
| Fixed assets | 21/28 | - | €117,487 | +€117,487 | |
| Tangible fixed assets | 22/27 | - | €117,487 | +€117,487 | |
| Plant, machinery and equipment | 23 | - | €117,487 | +€117,487 | |
| Current assets | 29/58 | €43,088 | €45,991 | +€2,903 | +6.7% |
| Stocks and contracts in progress | 3 | €2,750 | - | -€2,750 | |
| Stocks | 30/36 | €2,750 | - | -€2,750 | |
| Amounts receivable within one year | 40/41 | €38,703 | €38,832 | +€129 | +0.3% |
| Trade receivables | 40 | €6,200 | €2,748 | -€3,452 | -55.7% |
| Other amounts receivable | 41 | €32,503 | €36,084 | +€3,581 | +11.0% |
| Cash at bank and in hand | 54/58 | €1,635 | €7,159 | +€5,524 | +337.9% |
| Total equity and liabilities | 10/49 | €43,088 | €163,478 | +€120,390 | +279.4% |
| Equity | 10/15 | €42,796 | €64,482 | +€21,686 | +50.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,863 | €45,882 | +€22,019 | +92.3% |
| Non-distributable reserves | 130/1 | €1,814 | €1,814 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,814 | €1,814 | = | 0.0% |
| Distributable reserves | 133 | €22,049 | €44,068 | +€22,019 | +99.9% |
| Profit (loss) carried forward | 14 | €333 | - | -€333 | |
| Amounts payable | 17/49 | €292 | €98,996 | +€98,704 | +33802.7% |
| Amounts payable after more than one year | 17 | - | €90,000 | +€90,000 | |
| Financial debts | 170/4 | - | €90,000 | +€90,000 | |
| Amounts payable within one year | 42/48 | €292 | €8,996 | +€8,704 | +2980.8% |
| Trade debts | 44 | €292 | €5,716 | +€5,424 | +1857.5% |
| Suppliers | 440/4 | €292 | €5,716 | +€5,424 | +1857.5% |
| Taxes, remuneration and social security | 45 | - | €3,280 | +€3,280 | |
| Taxes | 450/3 | - | €3,280 | +€3,280 | |
| Non-recurring operating income | 76A | €1,869 | - | -€1,869 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €16,665 | +€16,665 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,905 | +€2,905 | |
| Other operating charges | 640/8 | €141 | €544 | +€403 | +285.8% |
| Gross operating margin | 9900 | €1,570 | €43,696 | +€42,126 | +2683.2% |
| Operating profit (loss) | 9901 | €1,429 | €23,582 | +€22,153 | +1550.2% |
| Financial income | 75/76B | - | €1,813 | +€1,813 | |
| Recurring financial income | 75 | - | €1,813 | +€1,813 | |
| Financial charges | 65/66B | €55 | €54 | -€1 | -1.8% |
| Recurring financial charges | 65 | €55 | €54 | -€1 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €1,374 | €25,341 | +€23,967 | +1744.3% |
| Income taxes | 67/77 | €243 | €3,655 | +€3,412 | +1404.1% |
| Profit (loss) for the period | 9904 | €1,131 | €21,686 | +€20,555 | +1817.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,131 | €21,686 | +€20,555 | +1817.4% |
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 12 October 2026 via checked.be.