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
- Stocks and contracts +€266,400
up €266,400 (+219.4%), from €121,412 to €387,812
- Receivables within one year -€54,809
down €54,809 (-64.8%), from €84,585 to €29,775
of which Trade receivables: -€64,324
- Cash -€14,213
down €14,213 (-35.5%), from €40,094 to €25,881
mainly Stocks and contracts (-€266,400) and Tax, wage and social debts (-€13,078)
- Receivables after one year -€13,909
down €13,909 (-100.0%), from €13,909 to €0
- Trade debts +€105,436
new in 2024: €105,436
- Accrued charges and deferred income +€35,098
up €35,098 (+4228.7%), from €830 to €35,928
- Other debts +€32,506
new in 2024: €32,506
- Reserves +€25,704
up €25,704 (+25.7%), from €100,000 to €125,704
- Profit (loss) carried forward -€22,379
down €22,379 (-100.0%), from €22,379 to €0
- Gross operating margin -€23,407
down €23,407 (-41.0%), from €57,157 to €33,750
- Financial charges +€10,257
up €10,257 (+129.3%), from €7,931 to €18,188
- Taxes -€6,234
down €6,234 (-73.3%), from €8,500 to €2,266
- Other operating charges -€2,790
down €2,790 (-67.7%), from €4,122 to €1,332
- Depreciation +€831
up €831 (+10.4%), from €7,991 to €8,821
From the 2023 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €315,964 | €493,241 | +€177,277 | +56.1% |
| Fixed assets | 21/28 | €51,472 | €48,023 | -€3,450 | -6.7% |
| Tangible fixed assets | 22/27 | €51,472 | €48,023 | -€3,450 | -6.7% |
| Furniture and vehicles | 24 | €1,084 | €5,094 | +€4,010 | +370.0% |
| Other tangible fixed assets | 26 | €50,388 | €42,929 | -€7,460 | -14.8% |
| Current assets | 29/58 | €264,492 | €445,218 | +€180,726 | +68.3% |
| Amounts receivable after more than one year | 29 | €13,909 | €0 | -€13,909 | -100.0% |
| Other amounts receivable | 291 | €13,909 | €0 | -€13,909 | -100.0% |
| Stocks and contracts in progress | 3 | €121,412 | €387,812 | +€266,400 | +219.4% |
| Stocks | 30/36 | €121,412 | €387,812 | +€266,400 | +219.4% |
| Amounts receivable within one year | 40/41 | €84,585 | €29,775 | -€54,809 | -64.8% |
| Trade receivables | 40 | €81,314 | €16,991 | -€64,324 | -79.1% |
| Other amounts receivable | 41 | €3,270 | €12,785 | +€9,515 | +291.0% |
| Current investments | 50/53 | €4,040 | €0 | -€4,040 | -100.0% |
| Cash at bank and in hand | 54/58 | €40,094 | €25,881 | -€14,213 | -35.5% |
| Deferred charges and accrued income | 490/1 | €452 | €1,750 | +€1,298 | +286.8% |
| Total equity and liabilities | 10/49 | €315,964 | €493,241 | +€177,277 | +56.1% |
| Equity | 10/15 | €127,379 | €130,704 | +€3,325 | +2.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €125,704 | +€25,704 | +25.7% |
| Distributable reserves | 133 | €100,000 | €125,704 | +€25,704 | +25.7% |
| Profit (loss) carried forward | 14 | €22,379 | €0 | -€22,379 | -100.0% |
| Amounts payable | 17/49 | €188,585 | €362,537 | +€173,952 | +92.2% |
| Amounts payable after more than one year | 17 | €1,451 | €3,445 | +€1,994 | +137.4% |
| Financial debts | 170/4 | €1,451 | €3,445 | +€1,994 | +137.4% |
| Amounts payable within one year | 42/48 | €186,304 | €323,163 | +€136,859 | +73.5% |
| Current portion of amounts payable after more than one year | 42 | €588 | €2,584 | +€1,996 | +339.3% |
| Financial debts | 43 | €150,000 | €160,000 | +€10,000 | +6.7% |
| Credit institutions | 430/8 | €150,000 | €160,000 | +€10,000 | +6.7% |
| Trade debts | 44 | - | €105,436 | +€105,436 | |
| Suppliers | 440/4 | - | €105,436 | +€105,436 | |
| Taxes, remuneration and social security | 45 | €35,716 | €22,638 | -€13,078 | -36.6% |
| Taxes | 450/3 | €33,716 | €22,638 | -€11,078 | -32.9% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | - | €32,506 | +€32,506 | |
| Accrued charges and deferred income | 492/3 | €830 | €35,928 | +€35,098 | +4228.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,991 | €8,821 | +€831 | +10.4% |
| Other operating charges | 640/8 | €4,122 | €1,332 | -€2,790 | -67.7% |
| Gross operating margin | 9900 | €57,157 | €33,750 | -€23,407 | -41.0% |
| Operating profit (loss) | 9901 | €45,045 | €23,597 | -€21,448 | -47.6% |
| Financial income | 75/76B | €478 | €182 | -€297 | -62.0% |
| Recurring financial income | 75 | €478 | €182 | -€297 | -62.0% |
| Financial charges | 65/66B | €7,931 | €18,188 | +€10,257 | +129.3% |
| Recurring financial charges | 65 | €7,931 | €18,188 | +€10,257 | +129.3% |
| Profit (loss) for the period before taxes | 9903 | €37,592 | €5,591 | -€32,001 | -85.1% |
| Income taxes | 67/77 | €8,500 | €2,266 | -€6,234 | -73.3% |
| Profit (loss) for the period | 9904 | €29,092 | €3,325 | -€25,767 | -88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,092 | €3,325 | -€25,767 | -88.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.