AVBC: 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.
AVBC
Largest movements
- Cash +€59,708
up €59,708 (+50.4%), from €118,380 to €178,088
mainly Depreciation (+€84,246) and Other debts (+€64,510)
- Receivables within one year +€45,150
up €45,150 (+88.8%), from €50,836 to €95,986
of which Other amounts receivable: +€63,583
- Stocks and contracts +€33,488
up €33,488 (+81.6%), from €41,015 to €74,503
- Tangible fixed assets +€29,836
up €29,836 (+3.7%), from €815,651 to €845,487
of which Furniture and vehicles: +€79,927
- Other debts +€64,510
up €64,510 (+75.7%), from €85,221 to €149,731
- Investment grants +€61,600
new in 2025: €61,600
- Trade debts +€23,537
up €23,537 (+74.4%), from €31,635 to €55,172
- Reserves +€14,493
up €14,493 (+4.9%), from €296,168 to €310,661
- Staff costs +€111,456
up €111,456 (+41.7%), from €267,320 to €378,776
- Gross operating margin +€106,832
up €106,832 (+20.8%), from €512,735 to €619,567
- Financial charges +€28,105
up €28,105 (+28.2%), from €99,498 to €127,603
- Depreciation +€22,432
up €22,432 (+36.3%), from €61,815 to €84,246
- Financial income +€17,057
up €17,057 (+145%), from €11,744 to €28,801
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 | €1,048,224 | €1,222,300 | +€174,076 | +16.6% |
| Fixed assets | 21/28 | €819,479 | €846,620 | +€27,141 | +3.3% |
| Intangible fixed assets | 21 | €3,703 | €1,008 | -€2,695 | -72.8% |
| Tangible fixed assets | 22/27 | €815,651 | €845,487 | +€29,836 | +3.7% |
| Land and buildings | 22 | €721,826 | €698,417 | -€23,409 | -3.2% |
| Plant, machinery and equipment | 23 | €5,752 | €3,206 | -€2,546 | -44.3% |
| Furniture and vehicles | 24 | €29,430 | €109,357 | +€79,927 | +272% |
| Leasing and similar rights | 25 | €30,612 | €13,176 | -€17,436 | -57.0% |
| Other tangible fixed assets | 26 | €28,031 | €21,331 | -€6,700 | -23.9% |
| Financial fixed assets | 28 | €125 | €125 | +€1 | +0.4% |
| Current assets | 29/58 | €228,745 | €375,680 | +€146,935 | +64.2% |
| Stocks and contracts in progress | 3 | €41,015 | €74,503 | +€33,488 | +81.6% |
| Stocks | 30/36 | €41,015 | €74,503 | +€33,488 | +81.6% |
| Amounts receivable within one year | 40/41 | €50,836 | €95,986 | +€45,150 | +88.8% |
| Trade receivables | 40 | €28,043 | €9,610 | -€18,433 | -65.7% |
| Other amounts receivable | 41 | €22,793 | €86,376 | +€63,583 | +279% |
| Cash at bank and in hand | 54/58 | €118,380 | €178,088 | +€59,708 | +50.4% |
| Deferred charges and accrued income | 490/1 | €18,513 | €27,103 | +€8,590 | +46.4% |
| Total equity and liabilities | 10/49 | €1,048,224 | €1,222,300 | +€174,076 | +16.6% |
| Equity | 10/15 | €326,668 | €402,761 | +€76,093 | +23.3% |
| Contributions | 10/11 | €30,500 | €30,500 | = | 0.0% |
| Reserves | 13 | €296,168 | €310,661 | +€14,493 | +4.9% |
| Distributable reserves | 133 | €296,168 | €310,661 | +€14,493 | +4.9% |
| Investment grants | 15 | - | €61,600 | +€61,600 | |
| Amounts payable | 17/49 | €721,556 | €819,539 | +€97,983 | +13.6% |
| Amounts payable after more than one year | 17 | €520,465 | €525,739 | +€5,274 | +1.0% |
| Financial debts | 170/4 | €520,465 | €525,739 | +€5,274 | +1.0% |
| Amounts payable within one year | 42/48 | €201,091 | €293,800 | +€92,709 | +46.1% |
| Current portion of amounts payable after more than one year | 42 | €55,936 | €60,365 | +€4,429 | +7.9% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Other loans | 439 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €31,635 | €55,172 | +€23,537 | +74.4% |
| Suppliers | 440/4 | €31,635 | €55,172 | +€23,537 | +74.4% |
| Taxes, remuneration and social security | 45 | €18,299 | €28,532 | +€10,233 | +55.9% |
| Taxes | 450/3 | €11,580 | €4,115 | -€7,465 | -64.5% |
| Remuneration and social security | 454/9 | €6,720 | €24,417 | +€17,697 | +263% |
| Other amounts payable | 47/48 | €85,221 | €149,731 | +€64,510 | +75.7% |
| Non-recurring operating income | 76A | - | €195 | +€195 | |
| Remuneration, social security and pensions | 62 | €267,320 | €378,776 | +€111,456 | +41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,815 | €84,246 | +€22,432 | +36.3% |
| Other operating charges | 640/8 | €1,719 | €5,500 | +€3,781 | +220% |
| Non-recurring operating charges | 66A | - | €682 | +€682 | |
| Gross operating margin | 9900 | €512,735 | €619,567 | +€106,832 | +20.8% |
| Operating profit (loss) | 9901 | €181,882 | €150,363 | -€31,519 | -17.3% |
| Financial income | 75/76B | €11,744 | €28,801 | +€17,057 | +145% |
| Recurring financial income | 75 | €11,744 | €28,801 | +€17,057 | +145% |
| Financial charges | 65/66B | €99,498 | €127,603 | +€28,105 | +28.2% |
| Recurring financial charges | 65 | €99,498 | €127,603 | +€28,105 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €94,128 | €51,561 | -€42,567 | -45.2% |
| Income taxes | 67/77 | €23,934 | €10,413 | -€13,521 | -56.5% |
| Profit (loss) for the period | 9904 | €70,193 | €41,148 | -€29,045 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,193 | €41,148 | -€29,045 | -41.4% |
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 17 October 2026 via checked.be.