AVDC: what changed
What changed
AVDC
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€46,374
2024 · €7,477+€38,897
Equity
€154,455
2024 · €108,081+€46,374
Cash
€32,589
2024 · €36,811-€4,222
Balance sheet total
€2.0m
2024 · €2.0m-€43,269
Largest movements
Assets
- Tangible fixed assets -€39,945
down €39,945 (-2.1%), from €1.9m to €1.9m
of which Land and buildings: -€52,808
Equity and liabilities
- Other debts -€64,788
down €64,788 (-12.8%), from €505,592 to €440,805
- Debts after one year -€47,192
down €47,192 (-3.6%), from €1.3m to €1.3m
- Profit (loss) carried forward +€46,374
up €46,374 (+165%), from €28,081 to €74,455
Income statement
- Gross operating margin +€35,513
up €35,513 (+29.0%), from €122,577 to €158,089
- Other operating charges -€17,497
down €17,497 (-92.4%), from €18,933 to €1,436
- Taxes +€16,005
up €16,005 (+306%), from €5,224 to €21,228
- Financial charges -€2,838
down €2,838 (-7.5%), from €37,769 to €34,931
Change in the result, 2024 to 2025
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 2024
€7,477
Gross operating margin
+€35,513
Depreciation
-€951
Other operating charges
+€17,497
Financial income
+€5
Financial charges
+€2,838
Taxes
-€16,005
Result 2025
€46,374
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€47,508
Investment
-€14,179
Financing
-€37,551
Cash 2024
€36,811
From operations (derived)
+€47,508
Net result for the year
+€46,374
Depreciation
+€54,125
Receivables within one year
-€458
Deferred charges and accrued income
-€441
Trade debts
+€3,999
Tax, wage and social debts
+€2,684
Other debts
-€64,788
Accrued charges and deferred income
+€6,012
Investment (derived)
-€14,179
Investment in fixed assets (net)
-€14,179
Financing
-€37,551
Debts after one year
-€47,192
Current portion of long-term debt
+€9,642
Cash 2025
€32,589
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,005,602 | €1,962,333 | -€43,269 | -2.2% |
| Fixed assets | 21/28 | €1,945,784 | €1,905,839 | -€39,945 | -2.1% |
| Tangible fixed assets | 22/27 | €1,945,784 | €1,905,839 | -€39,945 | -2.1% |
| Land and buildings | 22 | €1,942,934 | €1,890,125 | -€52,808 | -2.7% |
| Plant, machinery and equipment | 23 | €2,037 | €9,957 | +€7,920 | +389% |
| Furniture and vehicles | 24 | €814 | €2,947 | +€2,133 | +262% |
| Assets under construction and advance payments | 27 | - | €2,810 | +€2,810 | |
| Current assets | 29/58 | €59,818 | €56,495 | -€3,323 | -5.6% |
| Amounts receivable within one year | 40/41 | €23,007 | €23,465 | +€458 | +2.0% |
| Trade receivables | 40 | €22,990 | €22,990 | = | 0.0% |
| Other amounts receivable | 41 | €17 | €475 | +€458 | +2,708% |
| Cash at bank and in hand | 54/58 | €36,811 | €32,589 | -€4,222 | -11.5% |
| Deferred charges and accrued income | 490/1 | - | €441 | +€441 | |
| Total equity and liabilities | 10/49 | €2,005,602 | €1,962,333 | -€43,269 | -2.2% |
| Equity | 10/15 | €108,081 | €154,455 | +€46,374 | +42.9% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,081 | €74,455 | +€46,374 | +165% |
| Amounts payable | 17/49 | €1,897,521 | €1,807,879 | -€89,643 | -4.7% |
| Amounts payable after more than one year | 17 | €1,303,926 | €1,256,734 | -€47,192 | -3.6% |
| Financial debts | 170/4 | €1,303,926 | €1,256,734 | -€47,192 | -3.6% |
| Amounts payable within one year | 42/48 | €590,095 | €541,633 | -€48,463 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €56,701 | €66,342 | +€9,642 | +17.0% |
| Trade debts | 44 | €1,550 | €5,549 | +€3,999 | +258% |
| Suppliers | 440/4 | €1,550 | €5,549 | +€3,999 | +258% |
| Taxes, remuneration and social security | 45 | €26,252 | €28,936 | +€2,684 | +10.2% |
| Taxes | 450/3 | €26,252 | €28,936 | +€2,684 | +10.2% |
| Other amounts payable | 47/48 | €505,592 | €440,805 | -€64,788 | -12.8% |
| Accrued charges and deferred income | 492/3 | €3,500 | €9,512 | +€6,012 | +172% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,174 | €54,125 | +€951 | +1.8% |
| Other operating charges | 640/8 | €18,933 | €1,436 | -€17,497 | -92.4% |
| Gross operating margin | 9900 | €122,577 | €158,089 | +€35,513 | +29.0% |
| Operating profit (loss) | 9901 | €50,470 | €102,529 | +€52,059 | +103% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €37,769 | €34,931 | -€2,838 | -7.5% |
| Recurring financial charges | 65 | €37,769 | €34,931 | -€2,838 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €12,701 | €67,603 | +€54,902 | +432% |
| Income taxes | 67/77 | €5,224 | €21,228 | +€16,005 | +306% |
| Profit (loss) for the period | 9904 | €7,477 | €46,374 | +€38,897 | +520% |
| Profit (loss) for the period to be appropriated | 9905 | €7,477 | €46,374 | +€38,897 | +520% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.