AVECOM: 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.
AVECOM
Largest movements
- Current investments -€337,998
down €337,998 (-59.8%), from €565,075 to €227,077
- Cash -€203,104
down €203,104 (-38.2%), from €531,065 to €327,961
mainly Other debts (-€368,600) and Advances received (-€257,473)
- Tangible fixed assets -€95,997
down €95,997 (-35.0%), from €274,130 to €178,132
of which Land and buildings: -€81,107
- Receivables after one year +€50,000
new in 2025: €50,000
- Receivables within one year +€27,078
up €27,078 (+4.7%), from €579,322 to €606,400
of which Other amounts receivable: +€119,059
- Other debts -€368,600
down €368,600 (-76.0%), from €485,000 to €116,400
- Advances received -€257,473
down €257,473 (-92.8%), from €277,305 to €19,832
- Short-term financial debts +€76,000
new in 2025: €76,000
- Reserves -€67,192
down €67,192 (-5.2%), from €1.3m to €1.2m
of which Distributable reserves: -€67,142
- Accrued charges and deferred income +€34,277
up €34,277 (+241.6%), from €14,187 to €48,464
- Gross operating margin -€151,765
down €151,765 (-16.2%), from €935,475 to €783,710
- Financial income +€57,668
up €57,668 (+97.5%), from €59,147 to €116,815
of which Financial income: +€57,668
- Staff costs -€50,265
down €50,265 (-7.2%), from €701,874 to €651,609
- Taxes -€14,994
down €14,994 (-97.3%), from €15,404 to €409
- Depreciation +€13,320
up €13,320 (+18.2%), from €73,361 to €86,681
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 | €2,429,498 | €1,883,884 | -€545,613 | -22.5% |
| Fixed assets | 21/28 | €749,381 | €653,383 | -€95,997 | -12.8% |
| Tangible fixed assets | 22/27 | €274,130 | €178,132 | -€95,997 | -35.0% |
| Land and buildings | 22 | €81,107 | €0 | -€81,107 | -100.0% |
| Plant, machinery and equipment | 23 | €161,830 | €152,571 | -€9,259 | -5.7% |
| Furniture and vehicles | 24 | €31,192 | €25,561 | -€5,631 | -18.1% |
| Financial fixed assets | 28 | €475,251 | €475,251 | = | 0.0% |
| Current assets | 29/58 | €1,680,117 | €1,230,501 | -€449,616 | -26.8% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €579,322 | €606,400 | +€27,078 | +4.7% |
| Trade receivables | 40 | €235,692 | €143,711 | -€91,981 | -39.0% |
| Other amounts receivable | 41 | €343,630 | €462,689 | +€119,059 | +34.6% |
| Current investments | 50/53 | €565,075 | €227,077 | -€337,998 | -59.8% |
| Cash at bank and in hand | 54/58 | €531,065 | €327,961 | -€203,104 | -38.2% |
| Deferred charges and accrued income | 490/1 | €4,655 | €19,064 | +€14,409 | +309.5% |
| Total equity and liabilities | 10/49 | €2,429,498 | €1,883,884 | -€545,613 | -22.5% |
| Equity | 10/15 | €1,465,192 | €1,417,185 | -€48,006 | -3.3% |
| Contributions | 10/11 | €62,000 | €61,500 | -€500 | -0.8% |
| Capital | 10 | €62,000 | €61,500 | -€500 | -0.8% |
| Issued capital | 100 | €62,000 | €61,500 | -€500 | -0.8% |
| Reserves | 13 | €1,290,106 | €1,222,914 | -€67,192 | -5.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,150 | -€50 | -0.8% |
| Legal reserve | 130 | €6,200 | €6,150 | -€50 | -0.8% |
| Distributable reserves | 133 | €1,283,906 | €1,216,764 | -€67,142 | -5.2% |
| Profit (loss) carried forward | 14 | €113,086 | €132,772 | +€19,686 | +17.4% |
| Amounts payable | 17/49 | €964,306 | €466,699 | -€497,607 | -51.6% |
| Amounts payable within one year | 42/48 | €950,119 | €418,235 | -€531,884 | -56.0% |
| Financial debts | 43 | - | €76,000 | +€76,000 | |
| Credit institutions | 430/8 | - | €76,000 | +€76,000 | |
| Trade debts | 44 | €83,187 | €112,768 | +€29,581 | +35.6% |
| Suppliers | 440/4 | €83,187 | €112,768 | +€29,581 | +35.6% |
| Advances received on contracts in progress | 46 | €277,305 | €19,832 | -€257,473 | -92.8% |
| Taxes, remuneration and social security | 45 | €104,626 | €93,235 | -€11,392 | -10.9% |
| Taxes | 450/3 | €25,096 | €3,600 | -€21,496 | -85.7% |
| Remuneration and social security | 454/9 | €79,530 | €89,635 | +€10,104 | +12.7% |
| Other amounts payable | 47/48 | €485,000 | €116,400 | -€368,600 | -76.0% |
| Accrued charges and deferred income | 492/3 | €14,187 | €48,464 | +€34,277 | +241.6% |
| Non-recurring operating income | 76A | €1,334 | €2,964 | +€1,630 | +122.2% |
| Remuneration, social security and pensions | 62 | €701,874 | €651,609 | -€50,265 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,361 | €86,681 | +€13,320 | +18.2% |
| Other operating charges | 640/8 | €5,102 | €7,514 | +€2,413 | +47.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €935,475 | €783,710 | -€151,765 | -16.2% |
| Operating profit (loss) | 9901 | €155,138 | €37,905 | -€117,233 | -75.6% |
| Financial income | 75/76B | €59,147 | €116,815 | +€57,668 | +97.5% |
| Recurring financial income | 75 | €59,147 | €116,815 | +€57,668 | +97.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,364 | €1,544 | +€179 | +13.2% |
| Recurring financial charges | 65 | €1,364 | €1,544 | +€179 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €212,921 | €153,176 | -€59,745 | -28.1% |
| Income taxes | 67/77 | €15,404 | €409 | -€14,994 | -97.3% |
| Profit (loss) for the period | 9904 | €197,517 | €152,767 | -€44,750 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €197,517 | €152,767 | -€44,750 | -22.7% |
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 1 October 2026 via checked.be.