Avenue I D: 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 I D
Largest movements
- Tangible fixed assets -€22,418
down €22,418 (-7.5%), from €299,565 to €277,148
of which Furniture and vehicles: -€15,420
- Cash -€13,971
down €13,971 (-42.1%), from €33,182 to €19,210
mainly Debts after one year (-€16,630) and Current portion of long-term debt (-€15,431)
- Debts after one year -€16,630
down €16,630 (-7.6%), from €219,401 to €202,772
- Current portion of long-term debt -€15,431
down €15,431 (-44.4%), from €34,751 to €19,320
- Reserves +€9,013
up €9,013 (+15.3%), from €58,972 to €67,985
- Other debts -€8,824
down €8,824 (-79.2%), from €11,139 to €2,315
- Trade debts -€7,992
down €7,992 (-75.3%), from €10,616 to €2,624
- Staff costs +€23,063
new in 2025: €23,063
- Depreciation -€16,304
down €16,304 (-61.6%), from €26,477 to €10,173
- Financial income +€3,570
up €3,570, from €0 to €3,570
- Taxes +€2,710
up €2,710 (+32.2%), from €8,416 to €11,126
- Gross operating margin -€2,040
down €2,040 (-3.3%), from €60,933 to €58,893
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 | €364,537 | €330,305 | -€34,231 | -9.4% |
| Fixed assets | 21/28 | €301,076 | €278,659 | -€22,418 | -7.4% |
| Tangible fixed assets | 22/27 | €299,565 | €277,148 | -€22,418 | -7.5% |
| Land and buildings | 22 | €278,715 | €270,064 | -€8,651 | -3.1% |
| Plant, machinery and equipment | 23 | €851 | €484 | -€367 | -43.1% |
| Furniture and vehicles | 24 | €19,999 | €4,579 | -€15,420 | -77.1% |
| Other tangible fixed assets | 26 | - | €2,020 | +€2,020 | |
| Financial fixed assets | 28 | €1,511 | €1,511 | = | 0.0% |
| Current assets | 29/58 | €63,460 | €51,646 | -€11,814 | -18.6% |
| Amounts receivable within one year | 40/41 | €28,284 | €29,658 | +€1,374 | +4.9% |
| Trade receivables | 40 | €24,200 | €24,200 | = | 0.0% |
| Other amounts receivable | 41 | €4,084 | €5,458 | +€1,374 | +33.6% |
| Cash at bank and in hand | 54/58 | €33,182 | €19,210 | -€13,971 | -42.1% |
| Deferred charges and accrued income | 490/1 | €1,994 | €2,778 | +€784 | +39.3% |
| Total equity and liabilities | 10/49 | €364,537 | €330,305 | -€34,231 | -9.4% |
| Equity | 10/15 | €77,572 | €86,585 | +€9,013 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,972 | €67,985 | +€9,013 | +15.3% |
| Distributable reserves | 133 | €58,972 | €67,985 | +€9,013 | +15.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €286,964 | €243,720 | -€43,244 | -15.1% |
| Amounts payable after more than one year | 17 | €219,401 | €202,772 | -€16,630 | -7.6% |
| Financial debts | 170/4 | €219,401 | €202,772 | -€16,630 | -7.6% |
| Amounts payable within one year | 42/48 | €67,176 | €40,598 | -€26,578 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €34,751 | €19,320 | -€15,431 | -44.4% |
| Trade debts | 44 | €10,616 | €2,624 | -€7,992 | -75.3% |
| Suppliers | 440/4 | €10,616 | €2,624 | -€7,992 | -75.3% |
| Taxes, remuneration and social security | 45 | €10,669 | €16,339 | +€5,670 | +53.1% |
| Taxes | 450/3 | €10,669 | €13,639 | +€2,970 | +27.8% |
| Remuneration and social security | 454/9 | - | €2,700 | +€2,700 | |
| Other amounts payable | 47/48 | €11,139 | €2,315 | -€8,824 | -79.2% |
| Accrued charges and deferred income | 492/3 | €387 | €351 | -€37 | -9.5% |
| Non-recurring operating income | 76A | - | €14,530 | +€14,530 | |
| Remuneration, social security and pensions | 62 | - | €23,063 | +€23,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,477 | €10,173 | -€16,304 | -61.6% |
| Other operating charges | 640/8 | €2,799 | €4,531 | +€1,732 | +61.9% |
| Gross operating margin | 9900 | €60,933 | €58,893 | -€2,040 | -3.3% |
| Operating profit (loss) | 9901 | €31,657 | €21,127 | -€10,530 | -33.3% |
| Financial income | 75/76B | €0 | €3,570 | +€3,570 | |
| Recurring financial income | 75 | €0 | €3,570 | +€3,570 | |
| Financial charges | 65/66B | €6,004 | €4,557 | -€1,447 | -24.1% |
| Recurring financial charges | 65 | €6,004 | €4,557 | -€1,447 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €25,653 | €20,140 | -€5,513 | -21.5% |
| Income taxes | 67/77 | €8,416 | €11,126 | +€2,710 | +32.2% |
| Profit (loss) for the period | 9904 | €17,237 | €9,013 | -€8,224 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,237 | €9,013 | -€8,224 | -47.7% |
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 21 October 2026 via checked.be.