AVEHO: 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.
AVEHO
Largest movements
- Receivables within one year +€160,378
up €160,378 (+129.8%), from €123,600 to €283,979
of which Trade receivables: +€135,830
- Cash -€50,497
down €50,497 (-78.8%), from €64,054 to €13,557
mainly Receivables within one year (-€160,378) and Investment in fixed assets (net) (-€104,812)
- Trade debts +€153,050
up €153,050 (+1799.2%), from €8,506 to €161,556
- Debts after one year -€85,729
down €85,729 (-8.3%), from €1.0m to €951,890
of which Financial debts: -€85,729
- Profit (loss) carried forward +€38,022
up €38,022 (+23.9%), from -€159,274 to -€121,252
- Accrued charges and deferred income +€19,598
up €19,598, from €0 to €19,598
- Financial charges -€217,232
down €217,232 (-81.2%), from €267,391 to €50,158
of which Financial charges: -€227,377
- Financial income -€22,624
down €22,624 (-100.0%), from €22,624 to €0
of which Non-recurring financial income: -€22,624
- Taxes -€8,830
down €8,830 (-52.9%), from €16,678 to €7,848
- Depreciation +€4,821
up €4,821 (+4.9%), from €97,561 to €102,382
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 | €1,499,837 | €1,612,375 | +€112,538 | +7.5% |
| Fixed assets | 21/28 | €1,309,091 | €1,311,521 | +€2,430 | +0.2% |
| Tangible fixed assets | 22/27 | €1,308,491 | €1,310,921 | +€2,430 | +0.2% |
| Land and buildings | 22 | €1,211,397 | €1,273,584 | +€62,187 | +5.1% |
| Plant, machinery and equipment | 23 | €7,857 | €2,553 | -€5,304 | -67.5% |
| Furniture and vehicles | 24 | €89,236 | €34,784 | -€54,452 | -61.0% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €190,746 | €300,854 | +€110,107 | +57.7% |
| Amounts receivable within one year | 40/41 | €123,600 | €283,979 | +€160,378 | +129.8% |
| Trade receivables | 40 | €114,675 | €250,505 | +€135,830 | +118.4% |
| Other amounts receivable | 41 | €8,925 | €33,474 | +€24,548 | +275.0% |
| Cash at bank and in hand | 54/58 | €64,054 | €13,557 | -€50,497 | -78.8% |
| Deferred charges and accrued income | 490/1 | €3,091 | €3,318 | +€226 | +7.3% |
| Total equity and liabilities | 10/49 | €1,499,837 | €1,612,375 | +€112,538 | +7.5% |
| Equity | 10/15 | €268,133 | €305,810 | +€37,677 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €408,807 | €408,462 | -€345 | -0.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,707 | €29,362 | -€345 | -1.2% |
| Distributable reserves | 133 | €377,240 | €377,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,274 | -€121,252 | +€38,022 | +23.9% |
| Provisions and deferred taxes | 16 | €3,737 | €3,560 | -€178 | -4.8% |
| Deferred taxes | 168 | €3,737 | €3,560 | -€178 | -4.8% |
| Amounts payable | 17/49 | €1,227,966 | €1,303,005 | +€75,039 | +6.1% |
| Amounts payable after more than one year | 17 | €1,037,618 | €951,890 | -€85,729 | -8.3% |
| Financial debts | 170/4 | €602,618 | €516,890 | -€85,729 | -14.2% |
| Other amounts payable | 178/9 | €435,000 | €435,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,348 | €331,517 | +€141,169 | +74.2% |
| Current portion of amounts payable after more than one year | 42 | €84,428 | €85,729 | +€1,301 | +1.5% |
| Trade debts | 44 | €8,506 | €161,556 | +€153,050 | +1799.2% |
| Suppliers | 440/4 | €8,506 | €161,556 | +€153,050 | +1799.2% |
| Taxes, remuneration and social security | 45 | €21,173 | €13,137 | -€8,036 | -38.0% |
| Taxes | 450/3 | €18,423 | €10,387 | -€8,036 | -43.6% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | €76,241 | €71,096 | -€5,146 | -6.7% |
| Accrued charges and deferred income | 492/3 | €0 | €19,598 | +€19,598 | |
| Non-recurring operating income | 76A | €852 | €1,230 | +€378 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,561 | €102,382 | +€4,821 | +4.9% |
| Other operating charges | 640/8 | €5,330 | €5,756 | +€427 | +8.0% |
| Gross operating margin | 9900 | €204,539 | €203,644 | -€895 | -0.4% |
| Operating profit (loss) | 9901 | €101,648 | €95,506 | -€6,142 | -6.0% |
| Financial income | 75/76B | €22,624 | €0 | -€22,624 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Non-recurring financial income | 76B | €22,624 | €0 | -€22,624 | -100.0% |
| Financial charges | 65/66B | €267,391 | €50,158 | -€217,232 | -81.2% |
| Recurring financial charges | 65 | €267,391 | €40,014 | -€227,377 | -85.0% |
| Non-recurring financial charges | 66B | - | €10,144 | +€10,144 | |
| Profit (loss) for the period before taxes | 9903 | -€143,119 | €45,347 | +€188,466 | |
| Transfer from deferred taxes | 780 | €178 | €178 | = | 0.0% |
| Income taxes | 67/77 | €16,678 | €7,848 | -€8,830 | -52.9% |
| Profit (loss) for the period | 9904 | -€159,619 | €37,677 | +€197,296 | |
| Transfer from tax-exempt reserves | 789 | €345 | €345 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,274 | €38,022 | +€197,296 |
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 12 October 2026 via checked.be.