Avenoir: what changed
Two fiscal 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.
Avenoir
Largest movements
- Tangible fixed assets +€71,980
up €71,980 (+398.5%), from €18,061 to €90,040
of which Furniture and vehicles: +€72,926
- Cash -€8,738
down €8,738 (-10.4%), from €83,938 to €75,199
mainly Investment in fixed assets (net) (-€91,430) and Other debts (-€1,186)
- Deferred charges and accrued income -€2,375
down €2,375 (-44.3%), from €5,366 to €2,990
- Debts after one year +€36,653
up €36,653 (+122.2%), from €30,000 to €66,653
- Current portion of long-term debt +€10,598
new in 2025: €10,598
- Trade debts +€8,302
up €8,302 (+201.2%), from €4,126 to €12,428
- Reserves +€5,322
up €5,322 (+8.8%), from €60,765 to €66,087
of which Distributable reserves: +€5,322
- Gross operating margin +€11,977
up €11,977 (+61.1%), from €19,605 to €31,582
- Depreciation +€8,755
up €8,755 (+81.9%), from €10,695 to €19,450
- Taxes +€2,427
up €2,427 (+903.0%), from €269 to €2,696
- Financial charges +€1,727
up €1,727 (+97.8%), from €1,766 to €3,493
- Other operating charges -€375
down €375 (-34.4%), from €1,089 to €714
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 | €118,609 | €179,765 | +€61,156 | +51.6% |
| Fixed assets | 21/28 | €18,061 | €90,040 | +€71,980 | +398.5% |
| Tangible fixed assets | 22/27 | €18,061 | €90,040 | +€71,980 | +398.5% |
| Plant, machinery and equipment | 23 | €5,763 | €6,130 | +€368 | +6.4% |
| Furniture and vehicles | 24 | €8,948 | €81,874 | +€72,926 | +815.0% |
| Other tangible fixed assets | 26 | €3,349 | €2,036 | -€1,314 | -39.2% |
| Current assets | 29/58 | €100,549 | €89,725 | -€10,824 | -10.8% |
| Amounts receivable within one year | 40/41 | €11,245 | €11,535 | +€289 | +2.6% |
| Trade receivables | 40 | €9,000 | €9,731 | +€731 | +8.1% |
| Other amounts receivable | 41 | €2,245 | €1,804 | -€442 | -19.7% |
| Cash at bank and in hand | 54/58 | €83,938 | €75,199 | -€8,738 | -10.4% |
| Deferred charges and accrued income | 490/1 | €5,366 | €2,990 | -€2,375 | -44.3% |
| Total equity and liabilities | 10/49 | €118,609 | €179,765 | +€61,156 | +51.6% |
| Equity | 10/15 | €79,365 | €84,687 | +€5,322 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,765 | €66,087 | +€5,322 | +8.8% |
| Tax-exempt reserves | 132 | €5,700 | €5,700 | = | 0.0% |
| Distributable reserves | 133 | €55,065 | €60,387 | +€5,322 | +9.7% |
| Amounts payable | 17/49 | €39,244 | €95,077 | +€55,834 | +142.3% |
| Amounts payable after more than one year | 17 | €30,000 | €66,653 | +€36,653 | +122.2% |
| Financial debts | 170/4 | €30,000 | €66,653 | +€36,653 | +122.2% |
| Amounts payable within one year | 42/48 | €9,244 | €28,425 | +€19,181 | +207.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,598 | +€10,598 | |
| Financial debts | 43 | €1,088 | €2,293 | +€1,205 | +110.8% |
| Credit institutions | 430/8 | €1,088 | €2,293 | +€1,205 | +110.8% |
| Trade debts | 44 | €4,126 | €12,428 | +€8,302 | +201.2% |
| Suppliers | 440/4 | €4,126 | €12,428 | +€8,302 | +201.2% |
| Taxes, remuneration and social security | 45 | €1,521 | €1,782 | +€261 | +17.2% |
| Taxes | 450/3 | €1,521 | €1,782 | +€261 | +17.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,509 | €1,324 | -€1,186 | -47.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,695 | €19,450 | +€8,755 | +81.9% |
| Other operating charges | 640/8 | €1,089 | €714 | -€375 | -34.4% |
| Gross operating margin | 9900 | €19,605 | €31,582 | +€11,977 | +61.1% |
| Operating profit (loss) | 9901 | €7,820 | €11,417 | +€3,596 | +46.0% |
| Financial income | 75/76B | - | €95 | +€95 | |
| Recurring financial income | 75 | - | €95 | +€95 | |
| Financial charges | 65/66B | €1,766 | €3,493 | +€1,727 | +97.8% |
| Recurring financial charges | 65 | €1,766 | €3,493 | +€1,727 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | €6,054 | €8,018 | +€1,964 | +32.4% |
| Income taxes | 67/77 | €269 | €2,696 | +€2,427 | +903.0% |
| Profit (loss) for the period | 9904 | €5,785 | €5,322 | -€463 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,785 | €5,322 | -€463 | -8.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.