Avellana: 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.
Avellana
Largest movements
- Tangible fixed assets +€6.7m
up €6.7m (+91.5%), from €7.3m to €14.0m
of which Land and buildings: +€6.7m
- Receivables within one year -€678,428
down €678,428 (-99.9%), from €679,257 to €829
of which Trade receivables: -€678,013
- Debts after one year -€10.0m
no longer reported in 2026 (was €10.0m)
- Current portion of long-term debt +€10.0m
new in 2026: €10.0m
- Short-term financial debts +€7.2m
up €7.2m (+124%), from €5.8m to €13.0m
- Profit (loss) carried forward -€1.2m
down €1.2m, from €84,669 to -€1.1m
- Financial income -€1.4m
no longer reported in 2026 (was €1.4m)
- Depreciation +€343,235
up €343,235 (+74.0%), from €463,911 to €807,146
- Gross operating margin +€263,016
up €263,016 (+4,169%), from €6,309 to €269,325
- Financial charges +€98,831
up €98,831 (+18.8%), from €526,328 to €625,158
- Other operating charges +€9,072
up €9,072 (+95.3%), from €9,518 to €18,590
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,663,605 | €22,684,264 | +€6.0m | +36.1% |
| Fixed assets | 21/28 | €15,984,349 | €22,683,435 | +€6.7m | +41.9% |
| Tangible fixed assets | 22/27 | €7,321,849 | €14,020,935 | +€6.7m | +91.5% |
| Land and buildings | 22 | €7,291,585 | €13,991,187 | +€6.7m | +91.9% |
| Other tangible fixed assets | 26 | €30,264 | €29,747 | -€516 | -1.7% |
| Financial fixed assets | 28 | €8,662,500 | €8,662,500 | = | 0.0% |
| Current assets | 29/58 | €679,257 | €829 | -€678,428 | -99.9% |
| Amounts receivable within one year | 40/41 | €679,257 | €829 | -€678,428 | -99.9% |
| Trade receivables | 40 | €678,013 | - | -€678,013 | |
| Other amounts receivable | 41 | €1,244 | €829 | -€415 | -33.3% |
| Total equity and liabilities | 10/49 | €16,663,605 | €22,684,264 | +€6.0m | +36.1% |
| Equity | 10/15 | €870,065 | -€311,504 | -€1.2m | |
| Contributions | 10/11 | €713,996 | €713,996 | = | 0.0% |
| Capital | 10 | €713,996 | €713,996 | = | 0.0% |
| Issued capital | 100 | €713,996 | €713,996 | = | 0.0% |
| Reserves | 13 | €71,400 | €71,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €71,400 | €71,400 | = | 0.0% |
| Legal reserve | 130 | €71,400 | €71,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,669 | -€1,096,900 | -€1.2m | |
| Amounts payable | 17/49 | €15,793,541 | €22,995,768 | +€7.2m | +45.6% |
| Amounts payable after more than one year | 17 | €10,000,000 | - | -€10.0m | |
| Financial debts | 170/4 | €10,000,000 | - | -€10.0m | |
| Amounts payable within one year | 42/48 | €5,793,541 | €22,995,768 | +€17.2m | +297% |
| Current portion of amounts payable after more than one year | 42 | - | €10,000,000 | +€10.0m | |
| Financial debts | 43 | €5,789,332 | €12,986,292 | +€7.2m | +124% |
| Credit institutions | 430/8 | €5,789,332 | €12,986,292 | +€7.2m | +124% |
| Trade debts | 44 | €3,049 | €3,150 | +€101 | +3.3% |
| Suppliers | 440/4 | €3,049 | €3,150 | +€101 | +3.3% |
| Taxes, remuneration and social security | 45 | €1,160 | €6,326 | +€5,166 | +446% |
| Taxes | 450/3 | €1,160 | €6,326 | +€5,166 | +446% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Non-recurring operating income | 76A | - | €248,362 | +€248,362 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €463,911 | €807,146 | +€343,235 | +74.0% |
| Other operating charges | 640/8 | €9,518 | €18,590 | +€9,072 | +95.3% |
| Non-recurring operating charges | 66A | €0 | €0 | +€0 | +1,100% |
| Gross operating margin | 9900 | €6,309 | €269,325 | +€263,016 | +4,169% |
| Operating profit (loss) | 9901 | -€467,120 | -€556,411 | -€89,291 | -19.1% |
| Financial income | 75/76B | €1,400,000 | - | -€1.4m | |
| Recurring financial income | 75 | €1,400,000 | - | -€1.4m | |
| Financial charges | 65/66B | €526,328 | €625,158 | +€98,831 | +18.8% |
| Recurring financial charges | 65 | €526,328 | €625,158 | +€98,831 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €406,553 | -€1,181,569 | -€1.6m | |
| Profit (loss) for the period | 9904 | €406,553 | -€1,181,569 | -€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €406,553 | -€1,181,569 | -€1.6m |
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 17 October 2026 via checked.be.