AVEMCO: 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.
AVEMCO
Largest movements
- Cash +€167,347
up €167,347 (+53.9%), from €310,745 to €478,092
mainly Net result for the year (+€213,643) and Other debts (+€39,458)
- Current investments +€61,651
up €61,651 (+31.1%), from €197,957 to €259,608
- Receivables within one year -€23,277
down €23,277 (-22.1%), from €105,491 to €82,214
- Tangible fixed assets -€17,967
down €17,967 (-24.4%), from €73,692 to €55,725
of which Furniture and vehicles: -€15,679
- Reserves +€128,200
up €128,200 (+23.9%), from €535,496 to €663,696
of which Tax-exempt reserves: +€84,200
- Other debts +€39,458
up €39,458 (+38.9%), from €101,471 to €140,929
- Tax, wage and social debts +€23,544
up €23,544 (+58.4%), from €40,282 to €63,826
of which Taxes: +€20,626
- Gross operating margin -€41,685
down €41,685 (-13.3%), from €313,728 to €272,043
- Financial income +€36,499
up €36,499 (+541%), from €6,751 to €43,250
- Taxes -€5,122
down €5,122 (-7.6%), from €67,805 to €62,684
- Financial charges +€4,458
up €4,458 (+31.6%), from €14,122 to €18,580
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 | €701,195 | €894,594 | +€193,399 | +27.6% |
| Fixed assets | 21/28 | €82,992 | €65,025 | -€17,967 | -21.6% |
| Tangible fixed assets | 22/27 | €73,692 | €55,725 | -€17,967 | -24.4% |
| Land and buildings | 22 | €6,185 | €5,517 | -€668 | -10.8% |
| Plant, machinery and equipment | 23 | €1,449 | €1,073 | -€375 | -25.9% |
| Furniture and vehicles | 24 | €61,132 | €45,453 | -€15,679 | -25.6% |
| Other tangible fixed assets | 26 | €4,926 | €3,681 | -€1,245 | -25.3% |
| Financial fixed assets | 28 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €618,202 | €829,569 | +€211,366 | +34.2% |
| Amounts receivable within one year | 40/41 | €105,491 | €82,214 | -€23,277 | -22.1% |
| Trade receivables | 40 | €105,491 | €82,214 | -€23,277 | -22.1% |
| Current investments | 50/53 | €197,957 | €259,608 | +€61,651 | +31.1% |
| Cash at bank and in hand | 54/58 | €310,745 | €478,092 | +€167,347 | +53.9% |
| Deferred charges and accrued income | 490/1 | €4,010 | €9,655 | +€5,645 | +141% |
| Total equity and liabilities | 10/49 | €701,195 | €894,594 | +€193,399 | +27.6% |
| Equity | 10/15 | €554,281 | €682,924 | +€128,643 | +23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €535,496 | €663,696 | +€128,200 | +23.9% |
| Tax-exempt reserves | 132 | €168,736 | €252,936 | +€84,200 | +49.9% |
| Distributable reserves | 133 | €366,760 | €410,760 | +€44,000 | +12.0% |
| Profit (loss) carried forward | 14 | €185 | €628 | +€443 | +240% |
| Amounts payable | 17/49 | €146,914 | €211,670 | +€64,756 | +44.1% |
| Amounts payable within one year | 42/48 | €146,914 | €211,670 | +€64,756 | +44.1% |
| Trade debts | 44 | €5,161 | €6,914 | +€1,753 | +34.0% |
| Suppliers | 440/4 | €5,161 | €6,914 | +€1,753 | +34.0% |
| Taxes, remuneration and social security | 45 | €40,282 | €63,826 | +€23,544 | +58.4% |
| Taxes | 450/3 | €37,405 | €58,031 | +€20,626 | +55.1% |
| Remuneration and social security | 454/9 | €2,876 | €5,795 | +€2,918 | +101% |
| Other amounts payable | 47/48 | €101,471 | €140,929 | +€39,458 | +38.9% |
| Non-recurring operating income | 76A | €14,576 | €3,686 | -€10,891 | -74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,843 | €17,895 | -€948 | -5.0% |
| Other operating charges | 640/8 | €2,747 | €2,491 | -€256 | -9.3% |
| Gross operating margin | 9900 | €313,728 | €272,043 | -€41,685 | -13.3% |
| Operating profit (loss) | 9901 | €292,138 | €251,657 | -€40,481 | -13.9% |
| Financial income | 75/76B | €6,751 | €43,250 | +€36,499 | +541% |
| Recurring financial income | 75 | €6,751 | €43,250 | +€36,499 | +541% |
| Financial charges | 65/66B | €14,122 | €18,580 | +€4,458 | +31.6% |
| Recurring financial charges | 65 | €14,122 | €18,580 | +€4,458 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | €284,767 | €276,327 | -€8,440 | -3.0% |
| Income taxes | 67/77 | €67,805 | €62,684 | -€5,122 | -7.6% |
| Profit (loss) for the period | 9904 | €216,961 | €213,643 | -€3,318 | -1.5% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €84,200 | -€21,050 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,711 | €129,443 | +€17,732 | +15.9% |
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.