AVEDRO: 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.
AVEDRO
Largest movements
- Stocks and contracts +€478,050
up €478,050 (+812%), from €58,858 to €536,909
- Cash -€348,923
down €348,923 (-71.7%), from €486,962 to €138,039
mainly Stocks and contracts (-€478,050) and Debts after one year (-€132,017)
- Tangible fixed assets -€159,887
down €159,887 (-19.4%), from €825,060 to €665,173
- Debts after one year -€132,017
down €132,017 (-31.7%), from €416,331 to €284,314
- Other debts +€42,398
up €42,398 (+16.6%), from €255,669 to €298,068
- Reserves +€40,320
up €40,320 (+9.6%), from €419,827 to €460,147
of which Distributable reserves: +€40,320
- Current portion of long-term debt -€28,470
down €28,470 (-17.7%), from €160,487 to €132,017
- Investment grants +€24,090
up €24,090 (+61.3%), from €39,327 to €63,416
- Gross operating margin -€43,232
down €43,232 (-11.3%), from €381,065 to €337,834
- Financial income +€17,734
up €17,734 (+99.4%), from €17,834 to €35,568
- Taxes -€15,871
down €15,871 (-70.3%), from €22,589 to €6,718
- Depreciation +€14,259
up €14,259 (+5.4%), from €266,162 to €280,421
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,413,916 | €1,375,104 | -€38,812 | -2.7% |
| Fixed assets | 21/28 | €825,460 | €665,573 | -€159,887 | -19.4% |
| Tangible fixed assets | 22/27 | €825,060 | €665,173 | -€159,887 | -19.4% |
| Land and buildings | 22 | €196,213 | €165,631 | -€30,582 | -15.6% |
| Plant, machinery and equipment | 23 | €385,672 | €344,328 | -€41,344 | -10.7% |
| Furniture and vehicles | 24 | €174,917 | €155,214 | -€19,703 | -11.3% |
| Leasing and similar rights | 25 | €68,258 | €0 | -€68,258 | -100% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €588,456 | €709,531 | +€121,075 | +20.6% |
| Stocks and contracts in progress | 3 | €58,858 | €536,909 | +€478,050 | +812% |
| Stocks | 30/36 | €58,858 | €536,909 | +€478,050 | +812% |
| Amounts receivable within one year | 40/41 | €25,631 | €18,241 | -€7,390 | -28.8% |
| Trade receivables | 40 | €12,524 | €2,366 | -€10,158 | -81.1% |
| Other amounts receivable | 41 | €13,106 | €15,874 | +€2,768 | +21.1% |
| Cash at bank and in hand | 54/58 | €486,962 | €138,039 | -€348,923 | -71.7% |
| Deferred charges and accrued income | 490/1 | €17,004 | €16,342 | -€662 | -3.9% |
| Total equity and liabilities | 10/49 | €1,413,916 | €1,375,104 | -€38,812 | -2.7% |
| Equity | 10/15 | €555,351 | €619,761 | +€64,410 | +11.6% |
| Contributions | 10/11 | €96,197 | €96,197 | = | 0.0% |
| Reserves | 13 | €419,827 | €460,147 | +€40,320 | +9.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €401,077 | €441,397 | +€40,320 | +10.1% |
| Investment grants | 15 | €39,327 | €63,416 | +€24,090 | +61.3% |
| Provisions and deferred taxes | 16 | €2,070 | €3,338 | +€1,268 | +61.3% |
| Deferred taxes | 168 | €2,070 | €3,338 | +€1,268 | +61.3% |
| Amounts payable | 17/49 | €856,495 | €752,005 | -€104,489 | -12.2% |
| Amounts payable after more than one year | 17 | €416,331 | €284,314 | -€132,017 | -31.7% |
| Financial debts | 170/4 | €416,331 | €284,314 | -€132,017 | -31.7% |
| Amounts payable within one year | 42/48 | €440,146 | €467,691 | +€27,545 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €160,487 | €132,017 | -€28,470 | -17.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €18,572 | €32,038 | +€13,466 | +72.5% |
| Suppliers | 440/4 | €18,572 | €32,038 | +€13,466 | +72.5% |
| Taxes, remuneration and social security | 45 | €5,418 | €5,569 | +€151 | +2.8% |
| Taxes | 450/3 | €5,418 | €5,569 | +€151 | +2.8% |
| Other amounts payable | 47/48 | €255,669 | €298,068 | +€42,398 | +16.6% |
| Accrued charges and deferred income | 492/3 | €18 | €0 | -€18 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,162 | €280,421 | +€14,259 | +5.4% |
| Other operating charges | 640/8 | €4,058 | €2,918 | -€1,141 | -28.1% |
| Gross operating margin | 9900 | €381,065 | €337,834 | -€43,232 | -11.3% |
| Operating profit (loss) | 9901 | €110,845 | €54,495 | -€56,350 | -50.8% |
| Financial income | 75/76B | €17,834 | €35,568 | +€17,734 | +99.4% |
| Recurring financial income | 75 | €17,834 | €35,568 | +€17,734 | +99.4% |
| Financial charges | 65/66B | €45,409 | €44,841 | -€568 | -1.3% |
| Recurring financial charges | 65 | €45,409 | €44,841 | -€568 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €83,270 | €45,222 | -€38,048 | -45.7% |
| Transfer from deferred taxes | 780 | €834 | €1,816 | +€982 | +118% |
| Income taxes | 67/77 | €22,589 | €6,718 | -€15,871 | -70.3% |
| Profit (loss) for the period | 9904 | €61,515 | €40,320 | -€21,195 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,515 | €40,320 | -€21,195 | -34.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.