AVARONNE: 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.
AVARONNE
Largest movements
- Cash +€90,954
up €90,954 (+145%), from €62,733 to €153,687
mainly Debts after one year (+€101,028) and Tax, wage and social debts (+€80,167)
- Trade debts -€104,963
down €104,963 (-10.6%), from €994,123 to €889,160
- Debts after one year +€101,028
up €101,028 (+3.1%), from €3.3m to €3.4m
of which Financial debts: +€125,268
- Tax, wage and social debts +€80,167
up €80,167 (+94.8%), from €84,545 to €164,712
of which Taxes: +€102,973
- Provisions -€59,000
down €59,000 (-12.1%), from €486,000 to €427,000
- Gross operating margin -€394,142
down €394,142 (-61.3%), from €643,373 to €249,231
- Financial charges -€77,932
down €77,932 (-29.4%), from €265,094 to €187,162
- Staff costs -€62,038
down €62,038 (-40.4%), from €153,668 to €91,630
- Provisions -€45,000
down €45,000 (-321%), from -€14,000 to -€59,000
- Taxes -€30,871
down €30,871 (-63.7%), from €48,500 to €17,629
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 | €5,235,009 | €5,276,410 | +€41,401 | +0.8% |
| Fixed assets | 21/28 | €1,914 | €1,198 | -€716 | -37.4% |
| Tangible fixed assets | 22/27 | €716 | - | -€716 | |
| Furniture and vehicles | 24 | €716 | - | -€716 | |
| Financial fixed assets | 28 | €1,198 | €1,198 | = | 0.0% |
| Current assets | 29/58 | €5,233,095 | €5,275,212 | +€42,117 | +0.8% |
| Stocks and contracts in progress | 3 | €4,363,277 | €4,318,786 | -€44,491 | -1.0% |
| Stocks | 30/36 | €4,363,277 | €4,318,786 | -€44,491 | -1.0% |
| Amounts receivable within one year | 40/41 | €803,553 | €776,794 | -€26,759 | -3.3% |
| Trade receivables | 40 | €17,002 | €63,456 | +€46,453 | +273% |
| Other amounts receivable | 41 | €786,550 | €713,338 | -€73,212 | -9.3% |
| Cash at bank and in hand | 54/58 | €62,733 | €153,687 | +€90,954 | +145% |
| Deferred charges and accrued income | 490/1 | €3,533 | €25,945 | +€22,412 | +634% |
| Total equity and liabilities | 10/49 | €5,235,009 | €5,276,410 | +€41,401 | +0.8% |
| Equity | 10/15 | €341,958 | €387,450 | +€45,492 | +13.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €141,958 | €187,450 | +€45,492 | +32.0% |
| Distributable reserves | 133 | €141,958 | €187,450 | +€45,492 | +32.0% |
| Provisions and deferred taxes | 16 | €486,000 | €427,000 | -€59,000 | -12.1% |
| Provisions for liabilities and charges | 160/5 | €486,000 | €427,000 | -€59,000 | -12.1% |
| Other liabilities and charges | 164/5 | €486,000 | €427,000 | -€59,000 | -12.1% |
| Amounts payable | 17/49 | €4,407,051 | €4,461,960 | +€54,909 | +1.2% |
| Amounts payable after more than one year | 17 | €3,307,060 | €3,408,088 | +€101,028 | +3.1% |
| Financial debts | 170/4 | €3,164,070 | €3,289,337 | +€125,268 | +4.0% |
| Other amounts payable | 178/9 | €142,990 | €118,751 | -€24,239 | -17.0% |
| Amounts payable within one year | 42/48 | €1,078,668 | €1,053,872 | -€24,796 | -2.3% |
| Trade debts | 44 | €994,123 | €889,160 | -€104,963 | -10.6% |
| Suppliers | 440/4 | €994,123 | €889,160 | -€104,963 | -10.6% |
| Taxes, remuneration and social security | 45 | €84,545 | €164,712 | +€80,167 | +94.8% |
| Taxes | 450/3 | €53,372 | €156,345 | +€102,973 | +193% |
| Remuneration and social security | 454/9 | €31,173 | €8,366 | -€22,806 | -73.2% |
| Accrued charges and deferred income | 492/3 | €21,323 | - | -€21,323 | |
| Remuneration, social security and pensions | 62 | €153,668 | €91,630 | -€62,038 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | - | -€374 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€14,000 | -€59,000 | -€45,000 | -321% |
| Other operating charges | 640/8 | €27,007 | €17,213 | -€9,794 | -36.3% |
| Gross operating margin | 9900 | €643,373 | €249,231 | -€394,142 | -61.3% |
| Operating profit (loss) | 9901 | €476,324 | €199,388 | -€276,935 | -58.1% |
| Financial income | 75/76B | €62,487 | €50,895 | -€11,592 | -18.6% |
| Recurring financial income | 75 | €62,487 | €50,895 | -€11,592 | -18.6% |
| Financial charges | 65/66B | €265,094 | €187,162 | -€77,932 | -29.4% |
| Recurring financial charges | 65 | €265,094 | €187,162 | -€77,932 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €273,716 | €63,121 | -€210,595 | -76.9% |
| Income taxes | 67/77 | €48,500 | €17,629 | -€30,871 | -63.7% |
| Profit (loss) for the period | 9904 | €225,216 | €45,492 | -€179,724 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €225,216 | €45,492 | -€179,724 | -79.8% |
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.