AVENUE: 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.
AVENUE
Largest movements
- Cash -€55,709
down €55,709 (-21.4%), from €259,780 to €204,071
mainly Stocks and contracts (-€32,227) and Other debts (-€27,844)
- Stocks and contracts +€32,227
up €32,227 (+68.7%), from €46,925 to €79,152
- Receivables within one year +€14,719
new in 2025: €14,719
of which Other amounts receivable: +€12,453
- Tangible fixed assets -€6,025
down €6,025 (-5.1%), from €117,335 to €111,310
of which Furniture and vehicles: -€26,770
- Current portion of long-term debt +€31,143
new in 2025: €31,143
- Other debts -€27,844
down €27,844 (-90.4%), from €30,792 to €2,948
- Tax, wage and social debts -€15,144
down €15,144 (-37.9%), from €40,006 to €24,862
of which Taxes: -€10,546
- Trade debts -€7,554
down €7,554 (-22.7%), from €33,288 to €25,734
- Gross operating margin -€58,960
down €58,960 (-39.2%), from €150,466 to €91,506
- Taxes -€17,985
down €17,985 (-87.6%), from €20,534 to €2,549
- Financial income -€4,658
down €4,658 (-67.3%), from €6,916 to €2,259
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 | €424,040 | €409,251 | -€14,789 | -3.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €117,335 | €111,310 | -€6,025 | -5.1% |
| Tangible fixed assets | 22/27 | €117,335 | €111,310 | -€6,025 | -5.1% |
| Land and buildings | 22 | €4,260 | €21,712 | +€17,453 | +409.7% |
| Plant, machinery and equipment | 23 | €4,653 | €7,946 | +€3,292 | +70.8% |
| Furniture and vehicles | 24 | €108,422 | €81,652 | -€26,770 | -24.7% |
| Current assets | 29/58 | €306,705 | €297,942 | -€8,764 | -2.9% |
| Stocks and contracts in progress | 3 | €46,925 | €79,152 | +€32,227 | +68.7% |
| Stocks | 30/36 | €46,925 | €79,152 | +€32,227 | +68.7% |
| Amounts receivable within one year | 40/41 | - | €14,719 | +€14,719 | |
| Trade receivables | 40 | - | €2,266 | +€2,266 | |
| Other amounts receivable | 41 | - | €12,453 | +€12,453 | |
| Cash at bank and in hand | 54/58 | €259,780 | €204,071 | -€55,709 | -21.4% |
| Total equity and liabilities | 10/49 | €424,040 | €409,251 | -€14,789 | -3.5% |
| Equity | 10/15 | €319,954 | €321,604 | +€1,649 | +0.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €159,514 | €159,514 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,882 | €17,882 | = | 0.0% |
| Distributable reserves | 133 | €141,633 | €141,633 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,440 | €137,089 | +€1,649 | +1.2% |
| Amounts payable | 17/49 | €104,086 | €87,648 | -€16,438 | -15.8% |
| Amounts payable after more than one year | 17 | - | €2,960 | +€2,960 | |
| Financial debts | 170/4 | - | €2,960 | +€2,960 | |
| Amounts payable within one year | 42/48 | €104,086 | €84,687 | -€19,398 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | - | €31,143 | +€31,143 | |
| Trade debts | 44 | €33,288 | €25,734 | -€7,554 | -22.7% |
| Suppliers | 440/4 | €33,288 | €25,734 | -€7,554 | -22.7% |
| Taxes, remuneration and social security | 45 | €40,006 | €24,862 | -€15,144 | -37.9% |
| Taxes | 450/3 | €18,175 | €7,629 | -€10,546 | -58.0% |
| Remuneration and social security | 454/9 | €21,831 | €17,233 | -€4,598 | -21.1% |
| Other amounts payable | 47/48 | €30,792 | €2,948 | -€27,844 | -90.4% |
| Non-recurring operating income | 76A | - | €10,994 | +€10,994 | |
| Remuneration, social security and pensions | 62 | €49,663 | €51,097 | +€1,435 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,299 | €31,408 | -€891 | -2.8% |
| Other operating charges | 640/8 | €2,277 | €1,808 | -€469 | -20.6% |
| Gross operating margin | 9900 | €150,466 | €91,506 | -€58,960 | -39.2% |
| Operating profit (loss) | 9901 | €66,227 | €7,193 | -€59,034 | -89.1% |
| Financial income | 75/76B | €6,916 | €2,259 | -€4,658 | -67.3% |
| Recurring financial income | 75 | €6,916 | €2,259 | -€4,658 | -67.3% |
| Financial charges | 65/66B | €5,883 | €5,253 | -€630 | -10.7% |
| Recurring financial charges | 65 | €5,883 | €5,253 | -€630 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €67,261 | €4,199 | -€63,062 | -93.8% |
| Income taxes | 67/77 | €20,534 | €2,549 | -€17,985 | -87.6% |
| Profit (loss) for the period | 9904 | €46,727 | €1,649 | -€45,077 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,727 | €1,649 | -€45,077 | -96.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.