Avenue Fitzgerald: 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 Fitzgerald
Largest movements
- Receivables within one year +€15,754
up €15,754 (+270%), from €5,844 to €21,598
- Tangible fixed assets +€2,487
up €2,487 (+35.9%), from €6,920 to €9,407
of which Furniture and vehicles: +€2,859
- Cash -€2,475
down €2,475 (-31.6%), from €7,826 to €5,350
mainly Net result for the year (-€64,609) and Receivables within one year (-€15,754)
- Accrued charges and deferred income +€81,533
up €81,533 (+3,197%), from €2,550 to €84,083
- Profit (loss) carried forward -€64,609
down €64,609 (-81.6%), from -€79,171 to -€143,780
- Trade debts -€8,085
down €8,085 (-50.9%), from €15,871 to €7,786
- Short-term financial debts +€4,934
new in 2025: €4,934
- Other debts +€4,388
up €4,388 (+7.9%), from €55,228 to €59,616
- Gross operating margin -€76,020
down €76,020, from €19,291 to -€56,729
- Other operating charges -€2,447
down €2,447 (-81.8%), from €2,992 to €545
- Financial charges +€2,158
up €2,158 (+221%), from €978 to €3,137
- Depreciation +€865
up €865 (+26.7%), from €3,235 to €4,100
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 | €34,617 | €50,382 | +€15,765 | +45.5% |
| Fixed assets | 21/28 | €15,936 | €18,422 | +€2,487 | +15.6% |
| Tangible fixed assets | 22/27 | €6,920 | €9,407 | +€2,487 | +35.9% |
| Plant, machinery and equipment | 23 | €478 | €289 | -€190 | -39.6% |
| Furniture and vehicles | 24 | €1,430 | €4,289 | +€2,859 | +200% |
| Other tangible fixed assets | 26 | €5,012 | €4,829 | -€183 | -3.6% |
| Financial fixed assets | 28 | €9,016 | €9,016 | = | 0.0% |
| Current assets | 29/58 | €18,681 | €31,960 | +€13,279 | +71.1% |
| Stocks and contracts in progress | 3 | €5,012 | €5,012 | = | 0.0% |
| Stocks | 30/36 | €5,012 | €5,012 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,844 | €21,598 | +€15,754 | +270% |
| Trade receivables | 40 | €5,844 | €21,598 | +€15,754 | +270% |
| Cash at bank and in hand | 54/58 | €7,826 | €5,350 | -€2,475 | -31.6% |
| Total equity and liabilities | 10/49 | €34,617 | €50,382 | +€15,765 | +45.5% |
| Equity | 10/15 | -€59,171 | -€123,780 | -€64,609 | -109% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,171 | -€143,780 | -€64,609 | -81.6% |
| Amounts payable | 17/49 | €93,788 | €174,162 | +€80,374 | +85.7% |
| Amounts payable after more than one year | 17 | €16,500 | €16,500 | = | 0.0% |
| Financial debts | 170/4 | €16,500 | €16,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €74,738 | €73,579 | -€1,159 | -1.6% |
| Financial debts | 43 | - | €4,934 | +€4,934 | |
| Credit institutions | 430/8 | - | €4,934 | +€4,934 | |
| Trade debts | 44 | €15,871 | €7,786 | -€8,085 | -50.9% |
| Suppliers | 440/4 | €15,871 | €7,786 | -€8,085 | -50.9% |
| Taxes, remuneration and social security | 45 | €3,639 | €1,244 | -€2,395 | -65.8% |
| Taxes | 450/3 | €3,639 | €1,244 | -€2,395 | -65.8% |
| Other amounts payable | 47/48 | €55,228 | €59,616 | +€4,388 | +7.9% |
| Accrued charges and deferred income | 492/3 | €2,550 | €84,083 | +€81,533 | +3,197% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,235 | €4,100 | +€865 | +26.7% |
| Other operating charges | 640/8 | €2,992 | €545 | -€2,447 | -81.8% |
| Gross operating margin | 9900 | €19,291 | -€56,729 | -€76,020 | |
| Operating profit (loss) | 9901 | €13,064 | -€61,374 | -€74,438 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €978 | €3,137 | +€2,158 | +221% |
| Recurring financial charges | 65 | €978 | €3,137 | +€2,158 | +221% |
| Profit (loss) for the period before taxes | 9903 | €12,085 | -€64,507 | -€76,592 | |
| Income taxes | 67/77 | - | €102 | +€102 | |
| Profit (loss) for the period | 9904 | €12,085 | -€64,609 | -€76,694 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,085 | -€64,609 | -€76,694 |
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 19 October 2026 via checked.be.