AVDB: 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.
AVDB
Largest movements
- Cash -€91,252
down €91,252 (-82.7%), from €110,297 to €19,045
mainly Other debts (-€154,178) and Contributions, distributions and other (-€98,793)
- Current investments -€45,000
down €45,000 (-37.5%), from €120,000 to €75,000
- Tangible fixed assets -€17,853
down €17,853 (-26.6%), from €67,230 to €49,376
of which Leasing and similar rights: -€10,785
- Other debts -€154,178
down €154,178 (-59.1%), from €260,711 to €106,533
- Debts after one year -€10,239
down €10,239 (-27.3%), from €37,545 to €27,306
- Tax, wage and social debts +€7,235
up €7,235 (+82.7%), from €8,744 to €15,979
- Gross operating margin -€5,976
down €5,976 (-3.8%), from €156,475 to €150,499
- Taxes -€4,336
down €4,336 (-13.7%), from €31,734 to €27,398
- Depreciation +€4,202
up €4,202 (+29.1%), from €14,455 to €18,658
- Financial income -€3,242
down €3,242 (-85.6%), from €3,788 to €546
- Other operating charges +€3,153
up €3,153 (+258.2%), from €1,221 to €4,373
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 | €321,563 | €166,159 | -€155,404 | -48.3% |
| Fixed assets | 21/28 | €67,230 | €49,376 | -€17,853 | -26.6% |
| Tangible fixed assets | 22/27 | €67,230 | €49,376 | -€17,853 | -26.6% |
| Land and buildings | 22 | €3,016 | €1,896 | -€1,120 | -37.1% |
| Plant, machinery and equipment | 23 | €9,708 | €7,049 | -€2,659 | -27.4% |
| Furniture and vehicles | 24 | €7,122 | €3,832 | -€3,290 | -46.2% |
| Leasing and similar rights | 25 | €47,385 | €36,599 | -€10,785 | -22.8% |
| Current assets | 29/58 | €254,333 | €116,783 | -€137,551 | -54.1% |
| Amounts receivable within one year | 40/41 | €14,741 | €14,700 | -€41 | -0.3% |
| Trade receivables | 40 | €314 | €169 | -€145 | -46.1% |
| Other amounts receivable | 41 | €14,427 | €14,531 | +€104 | +0.7% |
| Current investments | 50/53 | €120,000 | €75,000 | -€45,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €110,297 | €19,045 | -€91,252 | -82.7% |
| Deferred charges and accrued income | 490/1 | €9,295 | €8,037 | -€1,258 | -13.5% |
| Total equity and liabilities | 10/49 | €321,563 | €166,159 | -€155,404 | -48.3% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €318,563 | €163,159 | -€155,404 | -48.8% |
| Amounts payable after more than one year | 17 | €37,545 | €27,306 | -€10,239 | -27.3% |
| Financial debts | 170/4 | €37,545 | €27,306 | -€10,239 | -27.3% |
| Amounts payable within one year | 42/48 | €281,018 | €135,853 | -€145,165 | -51.7% |
| Current portion of amounts payable after more than one year | 42 | €8,574 | €10,239 | +€1,664 | +19.4% |
| Trade debts | 44 | €2,989 | €3,103 | +€113 | +3.8% |
| Suppliers | 440/4 | €2,989 | €3,103 | +€113 | +3.8% |
| Taxes, remuneration and social security | 45 | €8,744 | €15,979 | +€7,235 | +82.7% |
| Taxes | 450/3 | €8,744 | €15,979 | +€7,235 | +82.7% |
| Other amounts payable | 47/48 | €260,711 | €106,533 | -€154,178 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,455 | €18,658 | +€4,202 | +29.1% |
| Other operating charges | 640/8 | €1,221 | €4,373 | +€3,153 | +258.2% |
| Gross operating margin | 9900 | €156,475 | €150,499 | -€5,976 | -3.8% |
| Operating profit (loss) | 9901 | €140,799 | €127,468 | -€13,331 | -9.5% |
| Financial income | 75/76B | €3,788 | €546 | -€3,242 | -85.6% |
| Recurring financial income | 75 | €3,788 | €546 | -€3,242 | -85.6% |
| Financial charges | 65/66B | €1,548 | €1,823 | +€276 | +17.8% |
| Recurring financial charges | 65 | €1,548 | €1,823 | +€276 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €143,040 | €126,191 | -€16,849 | -11.8% |
| Income taxes | 67/77 | €31,734 | €27,398 | -€4,336 | -13.7% |
| Profit (loss) for the period | 9904 | €111,306 | €98,793 | -€12,513 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,306 | €98,793 | -€12,513 | -11.2% |
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 28 September 2026 via checked.be.