AVDW: 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.
AVDW
Largest movements
- Cash +€26,629
up €26,629 (+816%), from €3,263 to €29,891
mainly Net result for the year (+€222,639) and Other debts (+€77,120)
- Tangible fixed assets -€25,246
down €25,246 (-21.8%), from €115,716 to €90,470
- Trade debts -€247,611
down €247,611 (-97.5%), from €253,973 to €6,362
- Profit (loss) carried forward +€222,639
up €222,639 (+35.0%), from €635,788 to €858,427
- Other debts +€77,120
up €77,120 (+49.3%), from €156,271 to €233,391
- Debts after one year -€24,986
down €24,986 (-36.5%), from €68,443 to €43,457
- Tax, wage and social debts -€20,359
down €20,359 (-64.2%), from €31,730 to €11,371
of which Taxes: -€20,113
- Gross operating margin +€108,428
up €108,428 (+40.6%), from €266,908 to €375,337
- Taxes +€23,253
up €23,253 (+51.3%), from €45,291 to €68,544
- Depreciation +€14,732
up €14,732 (+140%), from €10,513 to €25,246
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 | €1,227,453 | €1,240,903 | +€13,450 | +1.1% |
| Fixed assets | 21/28 | €1,207,371 | €1,182,125 | -€25,246 | -2.1% |
| Tangible fixed assets | 22/27 | €115,716 | €90,470 | -€25,246 | -21.8% |
| Furniture and vehicles | 24 | €115,716 | €90,470 | -€25,246 | -21.8% |
| Financial fixed assets | 28 | €1,091,655 | €1,091,655 | = | 0.0% |
| Current assets | 29/58 | €20,082 | €58,778 | +€38,696 | +193% |
| Amounts receivable within one year | 40/41 | €14,709 | €26,347 | +€11,637 | +79.1% |
| Trade receivables | 40 | - | €24,891 | +€24,891 | |
| Other amounts receivable | 41 | €14,709 | €1,456 | -€13,253 | -90.1% |
| Cash at bank and in hand | 54/58 | €3,263 | €29,891 | +€26,629 | +816% |
| Deferred charges and accrued income | 490/1 | €2,110 | €2,540 | +€430 | +20.4% |
| Total equity and liabilities | 10/49 | €1,227,453 | €1,240,903 | +€13,450 | +1.1% |
| Equity | 10/15 | €657,788 | €880,427 | +€222,639 | +33.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €635,788 | €858,427 | +€222,639 | +35.0% |
| Amounts payable | 17/49 | €569,665 | €360,476 | -€209,189 | -36.7% |
| Amounts payable after more than one year | 17 | €68,443 | €43,457 | -€24,986 | -36.5% |
| Financial debts | 170/4 | €68,443 | €43,457 | -€24,986 | -36.5% |
| Amounts payable within one year | 42/48 | €501,222 | €317,019 | -€184,203 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €23,939 | €24,831 | +€892 | +3.7% |
| Financial debts | 43 | €35,309 | €41,064 | +€5,755 | +16.3% |
| Credit institutions | 430/8 | €35,309 | €41,064 | +€5,755 | +16.3% |
| Trade debts | 44 | €253,973 | €6,362 | -€247,611 | -97.5% |
| Suppliers | 440/4 | €253,973 | €6,362 | -€247,611 | -97.5% |
| Taxes, remuneration and social security | 45 | €31,730 | €11,371 | -€20,359 | -64.2% |
| Taxes | 450/3 | €25,534 | €5,420 | -€20,113 | -78.8% |
| Remuneration and social security | 454/9 | €6,197 | €5,951 | -€245 | -4.0% |
| Other amounts payable | 47/48 | €156,271 | €233,391 | +€77,120 | +49.3% |
| Remuneration, social security and pensions | 62 | €51,021 | €53,020 | +€1,998 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,513 | €25,246 | +€14,732 | +140% |
| Other operating charges | 640/8 | €1,323 | €1,596 | +€274 | +20.7% |
| Gross operating margin | 9900 | €266,908 | €375,337 | +€108,428 | +40.6% |
| Operating profit (loss) | 9901 | €204,051 | €295,475 | +€91,424 | +44.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,758 | €4,292 | -€466 | -9.8% |
| Recurring financial charges | 65 | €4,758 | €4,292 | -€466 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €199,293 | €291,183 | +€91,890 | +46.1% |
| Income taxes | 67/77 | €45,291 | €68,544 | +€23,253 | +51.3% |
| Profit (loss) for the period | 9904 | €154,002 | €222,639 | +€68,637 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €154,002 | €222,639 | +€68,637 | +44.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.