AVECON: 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.
AVECON
Largest movements
- Cash +€78,861
up €78,861 (+72.3%), from €109,018 to €187,879
mainly Net result for the year (+€83,679) and Receivables within one year (+€8,369)
- Receivables within one year -€8,369
down €8,369 (-24.7%), from €33,916 to €25,547
of which Trade receivables: -€8,573
- Tangible fixed assets +€3,562
new in 2025: €3,562
of which Furniture and vehicles: +€2,056
- Reserves +€82,179
up €82,179 (+88.1%), from €93,273 to €175,452
- Debts after one year -€9,201
down €9,201 (-95.2%), from €9,665 to €463
- Gross operating margin -€14,447
down €14,447 (-11.7%), from €123,235 to €108,788
- Taxes -€2,863
down €2,863 (-11.1%), from €25,706 to €22,843
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 | €146,645 | €221,364 | +€74,720 | +51.0% |
| Fixed assets | 21/28 | - | €3,562 | +€3,562 | |
| Tangible fixed assets | 22/27 | - | €3,562 | +€3,562 | |
| Plant, machinery and equipment | 23 | - | €1,505 | +€1,505 | |
| Furniture and vehicles | 24 | - | €2,056 | +€2,056 | |
| Current assets | 29/58 | €146,645 | €217,803 | +€71,158 | +48.5% |
| Amounts receivable within one year | 40/41 | €33,916 | €25,547 | -€8,369 | -24.7% |
| Trade receivables | 40 | €33,529 | €24,956 | -€8,573 | -25.6% |
| Other amounts receivable | 41 | €387 | €591 | +€204 | +52.7% |
| Cash at bank and in hand | 54/58 | €109,018 | €187,879 | +€78,861 | +72.3% |
| Deferred charges and accrued income | 490/1 | €3,711 | €4,377 | +€666 | +17.9% |
| Total equity and liabilities | 10/49 | €146,645 | €221,364 | +€74,720 | +51.0% |
| Equity | 10/15 | €93,373 | €175,552 | +€82,179 | +88.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €93,273 | €175,452 | +€82,179 | +88.1% |
| Distributable reserves | 133 | €93,273 | €175,452 | +€82,179 | +88.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,272 | €45,813 | -€7,459 | -14.0% |
| Amounts payable after more than one year | 17 | €9,665 | €463 | -€9,201 | -95.2% |
| Other amounts payable | 178/9 | €9,665 | €463 | -€9,201 | -95.2% |
| Amounts payable within one year | 42/48 | €43,607 | €45,349 | +€1,742 | +4.0% |
| Financial debts | 43 | €10 | €22 | +€12 | +120% |
| Credit institutions | 430/8 | €10 | €22 | +€12 | +120% |
| Trade debts | 44 | €7,528 | €9,161 | +€1,632 | +21.7% |
| Suppliers | 440/4 | €7,528 | €9,161 | +€1,632 | +21.7% |
| Taxes, remuneration and social security | 45 | €34,866 | €35,117 | +€250 | +0.7% |
| Taxes | 450/3 | €34,866 | €35,117 | +€250 | +0.7% |
| Other amounts payable | 47/48 | €1,203 | €1,050 | -€153 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €154 | +€154 | |
| Other operating charges | 640/8 | €689 | €561 | -€128 | -18.6% |
| Gross operating margin | 9900 | €123,235 | €108,788 | -€14,447 | -11.7% |
| Operating profit (loss) | 9901 | €122,545 | €108,073 | -€14,472 | -11.8% |
| Financial income | 75/76B | €0 | €1 | +€1 | +405% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +405% |
| Financial charges | 65/66B | €1,849 | €1,552 | -€296 | -16.0% |
| Recurring financial charges | 65 | €1,849 | €1,552 | -€296 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €120,697 | €106,522 | -€14,175 | -11.7% |
| Income taxes | 67/77 | €25,706 | €22,843 | -€2,863 | -11.1% |
| Profit (loss) for the period | 9904 | €94,991 | €83,679 | -€11,312 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €94,991 | €83,679 | -€11,312 | -11.9% |
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.