AVC: 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.
AVC
Largest movements
- Receivables within one year -€215,285
down €215,285 (-65.5%), from €328,629 to €113,344
of which Trade receivables: -€214,890
- Cash +€143,409
up €143,409 (+371.5%), from €38,608 to €182,016
mainly Net result for the year (+€296,780) and Receivables within one year (+€215,285)
- Receivables after one year +€51,313
new in 2025: €51,313
- Reserves +€101,780
new in 2025: €101,780
- Other debts -€88,166
down €88,166 (-31.1%), from €283,166 to €195,000
- Debts after one year -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Tax, wage and social debts +€13,658
up €13,658 (+84.5%), from €16,155 to €29,814
of which Taxes: +€13,658
- Gross operating margin +€19,850
up €19,850 (+5.4%), from €369,413 to €389,263
- Taxes +€6,259
up €6,259 (+7.2%), from €87,067 to €93,326
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 | €370,273 | €347,718 | -€22,555 | -6.1% |
| Current assets | 29/58 | €370,273 | €347,718 | -€22,555 | -6.1% |
| Amounts receivable after more than one year | 29 | - | €51,313 | +€51,313 | |
| Other amounts receivable | 291 | - | €51,313 | +€51,313 | |
| Amounts receivable within one year | 40/41 | €328,629 | €113,344 | -€215,285 | -65.5% |
| Trade receivables | 40 | €323,409 | €108,518 | -€214,890 | -66.4% |
| Other amounts receivable | 41 | €5,220 | €4,825 | -€395 | -7.6% |
| Cash at bank and in hand | 54/58 | €38,608 | €182,016 | +€143,409 | +371.5% |
| Deferred charges and accrued income | 490/1 | €3,036 | €1,046 | -€1,991 | -65.6% |
| Total equity and liabilities | 10/49 | €370,273 | €347,718 | -€22,555 | -6.1% |
| Equity | 10/15 | €18,600 | €120,380 | +€101,780 | +547.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €101,780 | +€101,780 | |
| Distributable reserves | 133 | - | €101,780 | +€101,780 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €351,673 | €227,339 | -€124,334 | -35.4% |
| Amounts payable after more than one year | 17 | €50,000 | €0 | -€50,000 | -100.0% |
| Financial debts | 170/4 | €50,000 | €0 | -€50,000 | -100.0% |
| Amounts payable within one year | 42/48 | €301,230 | €227,339 | -€73,892 | -24.5% |
| Trade debts | 44 | €1,908 | €2,525 | +€617 | +32.3% |
| Suppliers | 440/4 | €1,908 | €2,525 | +€617 | +32.3% |
| Taxes, remuneration and social security | 45 | €16,155 | €29,814 | +€13,658 | +84.5% |
| Taxes | 450/3 | €14,178 | €27,837 | +€13,658 | +96.3% |
| Remuneration and social security | 454/9 | €1,977 | €1,977 | = | 0.0% |
| Other amounts payable | 47/48 | €283,166 | €195,000 | -€88,166 | -31.1% |
| Accrued charges and deferred income | 492/3 | €442 | €0 | -€442 | -100.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €369,413 | €389,263 | +€19,850 | +5.4% |
| Operating profit (loss) | 9901 | €368,900 | €388,735 | +€19,835 | +5.4% |
| Financial income | 75/76B | €2,282 | €1,738 | -€543 | -23.8% |
| Recurring financial income | 75 | €2,282 | €1,738 | -€543 | -23.8% |
| Financial charges | 65/66B | €948 | €368 | -€580 | -61.2% |
| Recurring financial charges | 65 | €948 | €368 | -€580 | -61.2% |
| Profit (loss) for the period before taxes | 9903 | €370,233 | €390,105 | +€19,872 | +5.4% |
| Income taxes | 67/77 | €87,067 | €93,326 | +€6,259 | +7.2% |
| Profit (loss) for the period | 9904 | €283,166 | €296,780 | +€13,613 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €283,166 | €296,780 | +€13,613 | +4.8% |
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 9 October 2026 via checked.be.