AVAZ: 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.
AVAZ
Largest movements
- Deferred charges and accrued income +€47,205
up €47,205 (+1640.1%), from €2,878 to €50,083
- Tangible fixed assets -€40,216
down €40,216 (-19.7%), from €203,650 to €163,434
of which Plant, machinery and equipment: -€24,112
- Receivables within one year -€35,614
down €35,614 (-59.2%), from €60,180 to €24,566
of which Trade receivables: -€28,047
- Cash -€8,058
no longer reported in 2025 (was €8,058)
mainly Net result for the year (-€51,395) and Deferred charges and accrued income (-€47,205)
- Stocks and contracts -€5,868
down €5,868 (-28.8%), from €20,373 to €14,505
- Profit (loss) carried forward -€51,395
new in 2025: -€51,395
- Other debts +€35,179
new in 2025: €35,179
- Debts after one year -€18,442
down €18,442 (-34.5%), from €53,395 to €34,953
- Accrued charges and deferred income -€8,470
no longer reported in 2025 (was €8,470)
- Tax, wage and social debts -€7,908
down €7,908 (-28.3%), from €27,926 to €20,019
- Gross operating margin -€121,214
down €121,214, from €117,147 to -€4,067
- Taxes -€15,294
no longer reported in 2025 (was €15,294)
- Depreciation +€4,409
up €4,409 (+11.6%), from €38,145 to €42,554
- Financial charges +€3,132
up €3,132 (+250.1%), from €1,252 to €4,384
- Other operating charges -€2,556
down €2,556 (-73.3%), from €3,487 to €931
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 | €329,139 | €286,588 | -€42,551 | -12.9% |
| Fixed assets | 21/28 | €237,650 | €197,434 | -€40,216 | -16.9% |
| Tangible fixed assets | 22/27 | €203,650 | €163,434 | -€40,216 | -19.7% |
| Plant, machinery and equipment | 23 | €168,014 | €143,901 | -€24,112 | -14.4% |
| Furniture and vehicles | 24 | €35,637 | €19,533 | -€16,104 | -45.2% |
| Financial fixed assets | 28 | €34,000 | €34,000 | = | 0.0% |
| Current assets | 29/58 | €91,489 | €89,154 | -€2,335 | -2.6% |
| Stocks and contracts in progress | 3 | €20,373 | €14,505 | -€5,868 | -28.8% |
| Stocks | 30/36 | €20,373 | €14,505 | -€5,868 | -28.8% |
| Amounts receivable within one year | 40/41 | €60,180 | €24,566 | -€35,614 | -59.2% |
| Trade receivables | 40 | €51,540 | €23,493 | -€28,047 | -54.4% |
| Other amounts receivable | 41 | €8,641 | €1,074 | -€7,567 | -87.6% |
| Cash at bank and in hand | 54/58 | €8,058 | - | -€8,058 | |
| Deferred charges and accrued income | 490/1 | €2,878 | €50,083 | +€47,205 | +1640.1% |
| Total equity and liabilities | 10/49 | €329,139 | €286,588 | -€42,551 | -12.9% |
| Equity | 10/15 | €202,886 | €151,491 | -€51,395 | -25.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €196,686 | €196,686 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €194,826 | €194,826 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€51,395 | -€51,395 | |
| Amounts payable | 17/49 | €126,253 | €135,097 | +€8,844 | +7.0% |
| Amounts payable after more than one year | 17 | €53,395 | €34,953 | -€18,442 | -34.5% |
| Financial debts | 170/4 | €53,395 | €34,953 | -€18,442 | -34.5% |
| Amounts payable within one year | 42/48 | €64,389 | €100,145 | +€35,756 | +55.5% |
| Current portion of amounts payable after more than one year | 42 | €17,406 | €18,442 | +€1,036 | +6.0% |
| Financial debts | 43 | - | €3,330 | +€3,330 | |
| Credit institutions | 430/8 | - | €3,330 | +€3,330 | |
| Trade debts | 44 | €17,426 | €14,932 | -€2,495 | -14.3% |
| Suppliers | 440/4 | €17,426 | €14,932 | -€2,495 | -14.3% |
| Advances received on contracts in progress | 46 | €1,630 | €8,244 | +€6,614 | +405.7% |
| Taxes, remuneration and social security | 45 | €27,926 | €20,019 | -€7,908 | -28.3% |
| Taxes | 450/3 | €27,926 | €20,019 | -€7,908 | -28.3% |
| Other amounts payable | 47/48 | - | €35,179 | +€35,179 | |
| Accrued charges and deferred income | 492/3 | €8,470 | - | -€8,470 | |
| Non-recurring operating income | 76A | €5,128 | €516 | -€4,612 | -89.9% |
| Remuneration, social security and pensions | 62 | €1,821 | €320 | -€1,501 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,145 | €42,554 | +€4,409 | +11.6% |
| Other operating charges | 640/8 | €3,487 | €931 | -€2,556 | -73.3% |
| Non-recurring operating charges | 66A | €701 | €2,282 | +€1,581 | +225.4% |
| Gross operating margin | 9900 | €117,147 | -€4,067 | -€121,214 | |
| Operating profit (loss) | 9901 | €72,992 | -€50,155 | -€123,147 | |
| Financial income | 75/76B | €3,011 | €3,144 | +€133 | +4.4% |
| Recurring financial income | 75 | €3,011 | €3,144 | +€133 | +4.4% |
| Financial charges | 65/66B | €1,252 | €4,384 | +€3,132 | +250.1% |
| Recurring financial charges | 65 | €1,252 | €4,384 | +€3,132 | +250.1% |
| Profit (loss) for the period before taxes | 9903 | €74,751 | -€51,395 | -€126,146 | |
| Income taxes | 67/77 | €15,294 | - | -€15,294 | |
| Profit (loss) for the period | 9904 | €59,457 | -€51,395 | -€110,852 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,457 | -€51,395 | -€110,852 |
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 4 October 2026 via checked.be.