AVC Invest: what changed
What changed
AVC Invest
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€12,334
2025 · -€11,527-€807
Equity
€923,561
2025 · €991,235-€67,674
Cash
€420,752
2025 · €514,579-€93,827
Balance sheet total
€932,913
2025 · €1.0m-€94,697
Largest movements
Assets
- Cash -€93,827
down €93,827 (-18.2%), from €514,579 to €420,752
mainly Contributions, distributions and other (-€55,340) and Other debts (-€30,329)
Equity and liabilities
- Reserves -€53,340
down €53,340 (-5.3%), from €1.0m to €952,555
- Other debts -€30,329
down €30,329 (-87.5%), from €34,676 to €4,348
- Profit (loss) carried forward -€12,334
down €12,334 (-66.1%), from -€18,660 to -€30,994
Income statement
- Gross operating margin -€884
down €884 (-8.0%), from -€10,999 to -€11,883
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€11,527
Gross operating margin
-€884
Other operating charges
+€98
Taxes
-€21
Result 2026
-€12,334
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€38,487
Investment
€0
Financing
-€55,340
Cash 2025
€514,579
From operations (derived)
-€38,487
Net result for the year
-€12,334
Depreciation
+€281
Receivables within one year
+€882
Deferred charges and accrued income
-€293
Trade debts
+€93
Tax, wage and social debts
+€3,212
Other debts
-€30,329
Financing
-€55,340
Contributions, distributions and other
-€55,340
Cash 2026
€420,752
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,027,611 | €932,913 | -€94,697 | -9.2% |
| Fixed assets | 21/28 | €562 | €281 | -€281 | -50.0% |
| Tangible fixed assets | 22/27 | €562 | €281 | -€281 | -50.0% |
| Furniture and vehicles | 24 | €562 | €281 | -€281 | -50.0% |
| Current assets | 29/58 | €1,027,049 | €932,632 | -€94,416 | -9.2% |
| Amounts receivable within one year | 40/41 | €6,423 | €5,541 | -€882 | -13.7% |
| Trade receivables | 40 | €4,780 | €4,386 | -€393 | -8.2% |
| Other amounts receivable | 41 | €1,643 | €1,155 | -€488 | -29.7% |
| Current investments | 50/53 | €504,746 | €504,746 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €514,579 | €420,752 | -€93,827 | -18.2% |
| Deferred charges and accrued income | 490/1 | €1,300 | €1,593 | +€293 | +22.5% |
| Total equity and liabilities | 10/49 | €1,027,611 | €932,913 | -€94,697 | -9.2% |
| Equity | 10/15 | €991,235 | €923,561 | -€67,674 | -6.8% |
| Contributions | 10/11 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Reserves | 13 | €1,005,895 | €952,555 | -€53,340 | -5.3% |
| Distributable reserves | 133 | €1,005,895 | €952,555 | -€53,340 | -5.3% |
| Profit (loss) carried forward | 14 | -€18,660 | -€30,994 | -€12,334 | -66.1% |
| Amounts payable | 17/49 | €36,376 | €9,352 | -€27,023 | -74.3% |
| Amounts payable within one year | 42/48 | €36,376 | €9,352 | -€27,023 | -74.3% |
| Trade debts | 44 | €349 | €443 | +€93 | +26.7% |
| Suppliers | 440/4 | €349 | €443 | +€93 | +26.7% |
| Taxes, remuneration and social security | 45 | €1,350 | €4,562 | +€3,212 | +238% |
| Taxes | 450/3 | €1,350 | €4,562 | +€3,212 | +238% |
| Other amounts payable | 47/48 | €34,676 | €4,348 | -€30,329 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281 | €281 | = | 0.0% |
| Other operating charges | 640/8 | €98 | - | -€98 | |
| Gross operating margin | 9900 | -€10,999 | -€11,883 | -€884 | -8.0% |
| Operating profit (loss) | 9901 | -€11,378 | -€12,164 | -€786 | -6.9% |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,420 | -€12,206 | -€786 | -6.9% |
| Income taxes | 67/77 | €107 | €127 | +€21 | +19.3% |
| Profit (loss) for the period | 9904 | -€11,527 | -€12,334 | -€807 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,527 | -€12,334 | -€807 | -7.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.