AVD: 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.
AVD
Largest movements
- Tangible fixed assets +€33,764
up €33,764 (+1,725%), from €1,957 to €35,721
of which Furniture and vehicles: +€34,243
- Cash -€21,539
down €21,539 (-47.6%), from €45,231 to €23,692
mainly Investment in fixed assets (net) (-€37,447) and Tax, wage and social debts (-€12,558)
- Receivables within one year +€2,561
up €2,561 (+20.5%), from €12,493 to €15,054
of which Other amounts receivable: +€2,131
- Reserves +€29,408
up €29,408 (+87.2%), from €33,708 to €63,116
- Tax, wage and social debts -€12,558
down €12,558 (-67.2%), from €18,693 to €6,135
- Other debts -€2,623
down €2,623 (-88.8%), from €2,952 to €330
- Gross operating margin +€10,757
up €10,757 (+31.9%), from €33,738 to €44,495
- Depreciation +€3,249
up €3,249 (+749%), from €434 to €3,682
- Taxes +€1,418
up €1,418 (+22.3%), from €6,357 to €7,775
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 | €59,680 | €74,467 | +€14,787 | +24.8% |
| Fixed assets | 21/28 | €1,957 | €35,721 | +€33,764 | +1,725% |
| Tangible fixed assets | 22/27 | €1,957 | €35,721 | +€33,764 | +1,725% |
| Plant, machinery and equipment | 23 | €1,957 | €1,479 | -€478 | -24.4% |
| Furniture and vehicles | 24 | - | €34,243 | +€34,243 | |
| Current assets | 29/58 | €57,724 | €38,746 | -€18,978 | -32.9% |
| Amounts receivable within one year | 40/41 | €12,493 | €15,054 | +€2,561 | +20.5% |
| Trade receivables | 40 | €12,191 | €12,622 | +€430 | +3.5% |
| Other amounts receivable | 41 | €301 | €2,432 | +€2,131 | +707% |
| Cash at bank and in hand | 54/58 | €45,231 | €23,692 | -€21,539 | -47.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €59,680 | €74,467 | +€14,787 | +24.8% |
| Equity | 10/15 | €36,208 | €65,616 | +€29,408 | +81.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €33,708 | €63,116 | +€29,408 | +87.2% |
| Distributable reserves | 133 | €33,708 | €63,116 | +€29,408 | +87.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €23,473 | €8,851 | -€14,622 | -62.3% |
| Amounts payable within one year | 42/48 | €23,473 | €8,851 | -€14,622 | -62.3% |
| Trade debts | 44 | €1,828 | €2,387 | +€559 | +30.6% |
| Suppliers | 440/4 | €1,828 | €2,387 | +€559 | +30.6% |
| Taxes, remuneration and social security | 45 | €18,693 | €6,135 | -€12,558 | -67.2% |
| Taxes | 450/3 | €18,693 | €6,135 | -€12,558 | -67.2% |
| Other amounts payable | 47/48 | €2,952 | €330 | -€2,623 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €434 | €3,682 | +€3,249 | +749% |
| Other operating charges | 640/8 | €532 | €447 | -€85 | -16.1% |
| Gross operating margin | 9900 | €33,738 | €44,495 | +€10,757 | +31.9% |
| Operating profit (loss) | 9901 | €32,773 | €40,366 | +€7,594 | +23.2% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.8% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.8% |
| Financial charges | 65/66B | €3,247 | €3,183 | -€64 | -2.0% |
| Recurring financial charges | 65 | €3,247 | €3,183 | -€64 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €29,535 | €37,184 | +€7,649 | +25.9% |
| Income taxes | 67/77 | €6,357 | €7,775 | +€1,418 | +22.3% |
| Profit (loss) for the period | 9904 | €23,177 | €29,408 | +€6,231 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,177 | €29,408 | +€6,231 | +26.9% |
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 25 October 2026 via checked.be.