AVE: 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.
AVE
Largest movements
- Cash -€17,825
down €17,825 (-99.5%), from €17,923 to €98
mainly Net result for the year (-€43,913) and Tax, wage and social debts (-€3,053)
- Receivables within one year -€16,361
down €16,361 (-63.5%), from €25,779 to €9,418
of which Trade receivables: -€18,090
- Tangible fixed assets -€3,975
down €3,975 (-17.4%), from €22,819 to €18,845
of which Other tangible fixed assets: -€2,515
- Profit (loss) carried forward -€43,913
down €43,913 (-80.2%), from €54,745 to €10,832
- Other debts +€5,486
new in 2025: €5,486
- Tax, wage and social debts -€3,053
down €3,053 (-33.4%), from €9,139 to €6,085
- Trade debts +€2,769
up €2,769 (+524%), from €529 to €3,298
- Gross operating margin -€45,405
down €45,405, from €7,260 to -€38,145
- Depreciation -€5,689
down €5,689 (-58.9%), from €9,664 to €3,975
- Taxes -€2,116
down €2,116 (-88.8%), from €2,383 to €267
- Other operating charges -€1,745
down €1,745 (-55.2%), from €3,161 to €1,416
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 | €67,567 | €29,101 | -€38,465 | -56.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €22,905 | €18,930 | -€3,975 | -17.4% |
| Tangible fixed assets | 22/27 | €22,819 | €18,845 | -€3,975 | -17.4% |
| Furniture and vehicles | 24 | €2,068 | €608 | -€1,460 | -70.6% |
| Other tangible fixed assets | 26 | €20,751 | €18,236 | -€2,515 | -12.1% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €44,662 | €10,172 | -€34,490 | -77.2% |
| Amounts receivable within one year | 40/41 | €25,779 | €9,418 | -€16,361 | -63.5% |
| Trade receivables | 40 | €18,090 | €0 | -€18,090 | -100% |
| Other amounts receivable | 41 | €7,689 | €9,418 | +€1,729 | +22.5% |
| Cash at bank and in hand | 54/58 | €17,923 | €98 | -€17,825 | -99.5% |
| Deferred charges and accrued income | 490/1 | €960 | €656 | -€304 | -31.7% |
| Total equity and liabilities | 10/49 | €67,567 | €29,101 | -€38,465 | -56.9% |
| Equity | 10/15 | €57,745 | €13,832 | -€43,913 | -76.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,745 | €10,832 | -€43,913 | -80.2% |
| Amounts payable | 17/49 | €9,822 | €15,270 | +€5,448 | +55.5% |
| Amounts payable within one year | 42/48 | €9,668 | €14,870 | +€5,202 | +53.8% |
| Trade debts | 44 | €529 | €3,298 | +€2,769 | +524% |
| Suppliers | 440/4 | €529 | €3,298 | +€2,769 | +524% |
| Taxes, remuneration and social security | 45 | €9,139 | €6,085 | -€3,053 | -33.4% |
| Taxes | 450/3 | €9,139 | €6,085 | -€3,053 | -33.4% |
| Other amounts payable | 47/48 | - | €5,486 | +€5,486 | |
| Accrued charges and deferred income | 492/3 | €154 | €400 | +€246 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,664 | €3,975 | -€5,689 | -58.9% |
| Other operating charges | 640/8 | €3,161 | €1,416 | -€1,745 | -55.2% |
| Gross operating margin | 9900 | €7,260 | -€38,145 | -€45,405 | |
| Operating profit (loss) | 9901 | -€5,565 | -€43,537 | -€37,972 | -682% |
| Financial charges | 65/66B | €68 | €110 | +€42 | +61.3% |
| Recurring financial charges | 65 | €68 | €110 | +€42 | +61.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,633 | -€43,646 | -€38,013 | -675% |
| Income taxes | 67/77 | €2,383 | €267 | -€2,116 | -88.8% |
| Profit (loss) for the period | 9904 | -€8,016 | -€43,913 | -€35,898 | -448% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,016 | -€43,913 | -€35,898 | -448% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.