AVD-BELGIUM: 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-BELGIUM
Largest movements
- Receivables within one year +€447,648
up €447,648 (+336%), from €133,318 to €580,966
of which Trade receivables: +€442,682
- Stocks and contracts -€138,131
down €138,131 (-31.6%), from €437,773 to €299,642
- Deferred charges and accrued income +€121,442
up €121,442 (+6,787%), from €1,789 to €123,232
- Cash +€74,095
up €74,095 (+339%), from €21,850 to €95,946
- Trade debts +€468,283
up €468,283 (+223%), from €209,941 to €678,224
- Profit (loss) carried forward +€124,731
up €124,731 (+49.1%), from €254,142 to €378,873
- Debts after one year -€72,364
down €72,364 (-66.3%), from €109,161 to €36,797
- Current portion of long-term debt -€62,841
down €62,841 (-79.4%), from €79,175 to €16,334
- Tax, wage and social debts +€29,520
up €29,520 (+178%), from €16,631 to €46,150
of which Taxes: +€17,972
- Purchases and services +€1.3m
new in 2024: €1.3m
- Write-downs +€188,907
new in 2024: €188,907
- Staff costs -€89,777
down €89,777 (-66.1%), from €135,750 to €45,973
- Gross operating margin +€73,432
up €73,432 (+38.6%), from €190,124 to €263,555
- Financial charges -€13,567
down €13,567 (-74.9%), from €18,110 to €4,543
of which Financial charges: -€7,791
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,523,339 | €2,010,667 | +€487,329 | +32.0% |
| Fixed assets | 21/28 | €928,608 | €910,882 | -€17,726 | -1.9% |
| Tangible fixed assets | 22/27 | €9,346 | - | -€9,346 | |
| Furniture and vehicles | 24 | €9,346 | - | -€9,346 | |
| Financial fixed assets | 28 | €919,262 | €910,882 | -€8,380 | -0.9% |
| Current assets | 29/58 | €594,731 | €1,099,785 | +€505,054 | +84.9% |
| Stocks and contracts in progress | 3 | €437,773 | €299,642 | -€138,131 | -31.6% |
| Stocks | 30/36 | €437,773 | €299,642 | -€138,131 | -31.6% |
| Amounts receivable within one year | 40/41 | €133,318 | €580,966 | +€447,648 | +336% |
| Trade receivables | 40 | €133,175 | €575,857 | +€442,682 | +332% |
| Other amounts receivable | 41 | €143 | €5,110 | +€4,966 | +3,466% |
| Cash at bank and in hand | 54/58 | €21,850 | €95,946 | +€74,095 | +339% |
| Deferred charges and accrued income | 490/1 | €1,789 | €123,232 | +€121,442 | +6,787% |
| Total equity and liabilities | 10/49 | €1,523,339 | €2,010,667 | +€487,329 | +32.0% |
| Equity | 10/15 | €1,108,432 | €1,233,163 | +€124,731 | +11.3% |
| Contributions | 10/11 | €820,585 | €820,585 | = | 0.0% |
| Reserves | 13 | €33,705 | €33,705 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,983 | €28,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28,983 | €28,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,747 | €1,747 | = | 0.0% |
| Distributable reserves | 133 | €2,975 | €2,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,142 | €378,873 | +€124,731 | +49.1% |
| Amounts payable | 17/49 | €414,907 | €777,505 | +€362,598 | +87.4% |
| Amounts payable after more than one year | 17 | €109,161 | €36,797 | -€72,364 | -66.3% |
| Financial debts | 170/4 | €109,161 | €36,797 | -€72,364 | -66.3% |
| Amounts payable within one year | 42/48 | €305,746 | €740,708 | +€434,962 | +142% |
| Current portion of amounts payable after more than one year | 42 | €79,175 | €16,334 | -€62,841 | -79.4% |
| Trade debts | 44 | €209,941 | €678,224 | +€468,283 | +223% |
| Suppliers | 440/4 | €209,941 | €678,224 | +€468,283 | +223% |
| Taxes, remuneration and social security | 45 | €16,631 | €46,150 | +€29,520 | +178% |
| Taxes | 450/3 | €6,725 | €24,697 | +€17,972 | +267% |
| Remuneration and social security | 454/9 | €9,906 | €21,453 | +€11,547 | +117% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,296,039 | +€1.3m | |
| Remuneration, social security and pensions | 62 | €135,750 | €45,973 | -€89,777 | -66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,673 | €4,673 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €188,907 | +€188,907 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€6,477 | - | +€6,477 | |
| Other operating charges | 640/8 | €3,225 | €1,158 | -€2,068 | -64.1% |
| Gross operating margin | 9900 | €190,124 | €263,555 | +€73,432 | +38.6% |
| Operating profit (loss) | 9901 | €52,952 | €22,845 | -€30,107 | -56.9% |
| Financial income | 75/76B | €3,319 | - | -€3,319 | |
| Recurring financial income | 75 | €3,319 | - | -€3,319 | |
| Financial charges | 65/66B | €18,110 | €4,543 | -€13,567 | -74.9% |
| Recurring financial charges | 65 | €12,335 | €4,543 | -€7,791 | -63.2% |
| Non-recurring financial charges | 66B | €5,775 | - | -€5,775 | |
| Profit (loss) for the period before taxes | 9903 | €38,162 | €18,302 | -€19,860 | -52.0% |
| Income taxes | 67/77 | €270 | - | -€270 | |
| Profit (loss) for the period | 9904 | €37,892 | €18,302 | -€19,590 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,892 | €18,302 | -€19,590 | -51.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.