AVENUE: 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.
AVENUE
Largest movements
- Cash +€92,438
up €92,438 (+572%), from €16,171 to €108,609
mainly Current investments (+€54,823) and Depreciation (+€40,423)
- Current investments -€54,823
down €54,823 (-68.4%), from €80,098 to €25,274
- Tangible fixed assets -€26,693
down €26,693 (-7.8%), from €343,503 to €316,810
of which Land and buildings: -€33,043
- Deferred charges and accrued income -€15,472
down €15,472 (-57.6%), from €26,870 to €11,398
- Stocks and contracts -€7,105
down €7,105 (-76.8%), from €9,256 to €2,151
- Accrued charges and deferred income +€27,539
up €27,539 (+210%), from €13,123 to €40,662
- Debts after one year -€18,000
down €18,000 (-42.2%), from €42,666 to €24,666
- Profit (loss) carried forward -€10,767
down €10,767 (-9.3%), from -€116,148 to -€126,915
- Trade debts -€8,468
down €8,468 (-53.9%), from €15,719 to €7,250
- Gross operating margin -€18,094
down €18,094 (-35.2%), from €51,453 to €33,359
- Financial income +€1,476
up €1,476 (+95.9%), from €1,539 to €3,015
- Depreciation +€1,099
up €1,099 (+2.8%), from €39,325 to €40,423
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 | €496,522 | €486,333 | -€10,189 | -2.1% |
| Fixed assets | 21/28 | €346,208 | €324,300 | -€21,908 | -6.3% |
| Tangible fixed assets | 22/27 | €343,503 | €316,810 | -€26,693 | -7.8% |
| Land and buildings | 22 | €332,910 | €299,867 | -€33,043 | -9.9% |
| Plant, machinery and equipment | 23 | €5,446 | €2,818 | -€2,628 | -48.3% |
| Furniture and vehicles | 24 | €5,147 | €14,125 | +€8,978 | +174% |
| Financial fixed assets | 28 | €2,705 | €7,490 | +€4,785 | +177% |
| Current assets | 29/58 | €150,314 | €162,033 | +€11,719 | +7.8% |
| Stocks and contracts in progress | 3 | €9,256 | €2,151 | -€7,105 | -76.8% |
| Stocks | 30/36 | €9,256 | €2,151 | -€7,105 | -76.8% |
| Amounts receivable within one year | 40/41 | €17,919 | €14,601 | -€3,319 | -18.5% |
| Trade receivables | 40 | €13,264 | €14,601 | +€1,336 | +10.1% |
| Other amounts receivable | 41 | €4,655 | €0 | -€4,655 | -100% |
| Current investments | 50/53 | €80,098 | €25,274 | -€54,823 | -68.4% |
| Cash at bank and in hand | 54/58 | €16,171 | €108,609 | +€92,438 | +572% |
| Deferred charges and accrued income | 490/1 | €26,870 | €11,398 | -€15,472 | -57.6% |
| Total equity and liabilities | 10/49 | €496,522 | €486,333 | -€10,189 | -2.1% |
| Equity | 10/15 | €244,247 | €233,480 | -€10,767 | -4.4% |
| Contributions | 10/11 | €80,800 | €80,800 | = | 0.0% |
| Reserves | 13 | €279,595 | €279,595 | = | 0.0% |
| Distributable reserves | 133 | €279,595 | €279,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,148 | -€126,915 | -€10,767 | -9.3% |
| Provisions and deferred taxes | 16 | €82,755 | €82,755 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €82,755 | €82,755 | = | 0.0% |
| Pensions and similar obligations | 160 | €82,755 | €82,755 | = | 0.0% |
| Amounts payable | 17/49 | €169,519 | €170,098 | +€579 | +0.3% |
| Amounts payable after more than one year | 17 | €42,666 | €24,666 | -€18,000 | -42.2% |
| Financial debts | 170/4 | €42,666 | €24,666 | -€18,000 | -42.2% |
| Amounts payable within one year | 42/48 | €113,730 | €104,770 | -€8,960 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €18,000 | = | 0.0% |
| Financial debts | 43 | €617 | €599 | -€18 | -2.9% |
| Credit institutions | 430/8 | €617 | €599 | -€18 | -2.9% |
| Trade debts | 44 | €15,719 | €7,250 | -€8,468 | -53.9% |
| Suppliers | 440/4 | €15,719 | €7,250 | -€8,468 | -53.9% |
| Taxes, remuneration and social security | 45 | €15,032 | €18,607 | +€3,574 | +23.8% |
| Taxes | 450/3 | €15,032 | €18,607 | +€3,574 | +23.8% |
| Other amounts payable | 47/48 | €64,361 | €60,314 | -€4,048 | -6.3% |
| Accrued charges and deferred income | 492/3 | €13,123 | €40,662 | +€27,539 | +210% |
| Non-recurring operating income | 76A | - | €10,250 | +€10,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,325 | €40,423 | +€1,099 | +2.8% |
| Other operating charges | 640/8 | €4,824 | €4,874 | +€50 | +1.0% |
| Gross operating margin | 9900 | €51,453 | €33,359 | -€18,094 | -35.2% |
| Operating profit (loss) | 9901 | €7,304 | -€11,939 | -€19,243 | |
| Financial income | 75/76B | €1,539 | €3,015 | +€1,476 | +95.9% |
| Recurring financial income | 75 | €1,539 | €3,015 | +€1,476 | +95.9% |
| Financial charges | 65/66B | €1,805 | €1,453 | -€352 | -19.5% |
| Recurring financial charges | 65 | €1,805 | €1,453 | -€352 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €7,038 | -€10,376 | -€17,414 | |
| Income taxes | 67/77 | €297 | €391 | +€94 | +31.8% |
| Profit (loss) for the period | 9904 | €6,741 | -€10,767 | -€17,509 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,741 | -€10,767 | -€17,509 |
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.